Bonfire Ventures

Bonfire Ventures just closed $245M for Fund IV, and if you know anything about these guys, you know they’re not in the business of handing out participation trophies. They back #B2BSaaS founders who bring the fire, and not in the “nice pitch deck, here’s a check” way. More like: Got product-market fit? Got real revenue? Cool. Let’s build something huge. This isn’t spray-and-pray venture. Bonfire plays the long game. Jim Andelman and Mark Mullen built this firm on deep operational chops, battle-tested pattern recognition, and an almost unfair ability to spot companies before they pop. They’ve already backed 150+ startups, fueling them to $5B+ in annual revenue, $4B+ in follow-on capital, and $18B+ in exits. Their Series A graduation rate? 85%. That’s not luck. That’s a system. And that system,The Bonfire Way, is why founders don’t just take their money; they take their calls. They take their advice. They take their intros. Because when you raise from Bonfire, you don’t just get a wire transfer; you get a 100-day launch plan, quarterly KPI benchmarks, and a boardroom strategy that actually works. The result? Companies like Reactiv (AI-powered Shopify app builder), Boulevard (salon SaaS), and Duro (product lifecycle management) going from early traction to industry dominance. With Fund IV, Bonfire is doubling down on AI-driven #B2Bplatforms, #verticalSaaS, and #automation that cuts through inefficiency like a hot knife through… well, bad software. The team, now including Salesforce alum Brett Queener, Tyler Churchill (ex-GGV), and Jennifer Richard (ex-Battery Ventures), is locked in on finding the next wave of category-defining companies. And let’s not forget: They’re playing from a position of strength. They’ve got over $1B in assets under management, #institutionalLPs that don’t blink at market downturns, and a talent pipeline so deep they’ve got a formal internship program just for due diligence. So, if you’re a B2B SaaS founder with real revenue, real traction, and a product buyers can’t live without, Bonfire isn’t just an option. They’re the standard. And with Fund IV locked and loaded, the next era of SaaS domination is about to get very interesting. #VentureCapital #Investment #Startups #SaaS #B2B #Startups #Technology #GrowthCapital #Innovation

We are thrilled to announce the launch of our newest fund: Bonfire IV - $245M to Back the Builders Reshaping B2B Software This fund is our largest yet, with $245M in commitments from some of the best institutional and individual investors in the business. Our strategy remains unwavering: we focus exclusively on B2B software, we enter only at the seed stage, and we make just ten or so new investments per year.    Including the funds at our predecessor firms, we now manage over $1 billion in assets, we have invested in over 150 companies, we have served on over 80 boards of directors, we have helped navigate companies through over 250 follow-on financings that raised over $4bn in capital, we have supported over 50 exits with an aggregate exit value of over $18 billion, and have seen the companies we support generate in aggregate over $5bn in annual revenue. Everything we do is to further the mission of being the very best choice for the most talented B2B software founders. That is our north star. Ours is a low volume, high conviction, high support model at seed. Founders and their teams are our customers and our partners, but most of all they are our peers. We strive to always treat them the way we’d want to be treated.    For Bonfire, “B2B software” means a code-based product and a business buyer. It can be enterprise or SMB, agentic or conventional, pay-as-you-go or annual contract, seat-based or usage-based or transaction-based or outcome-based or whatever. We deliberately employ a broad definition because we continue to believe that the universe of founders will be better than us at identifying the biggest and boldest greenfield opportunities. Our approach—the “Bonfire Way”—has proven to be a winning formula. We don’t force the pursuit of unsustainable growth. We don’t just show up at board meetings. We don’t focus solely on our most successful companies while neglecting others. Instead, we show up, we do the work, we do what we say we will, and we aim to help build long-term, sustainable, impactful market leaders with sound fundamentals.  With Fund IV, we are thrilled to apply this deep experience base to assist the next generation of exceptional B2B software founders. Let’s build together, Mark, Jim, Brett, Loren, Jennifer, Tyler, Deb, Brian and Dominique You can check out coverage by Allie Garfinkle of Fortune here: https://lnkd.in/gZC4x6AV

These past weeks have shown us the true spirit of LA. As fires devastated our neighborhoods, we've watched our community step up in extraordinary ways to help those who lost everything. Since Bonfire's early days, we've seen the LA community build incredible companies while supporting one another through challenges big and small. Time and again, founders, operators, and investors across Southern California prove it's not just about what we create, but how we show up for each other. That's why we're proud to share The LA Tech Community Cares Fund, created in partnership with GoFundMe to provide direct assistance to verified homeowners, small businesses, and workers most affected by the devastation. A portion of the funds will also support the firefighting organizations that worked tirelessly to protect our communities. For those looking for a way to make an impact, join us in helping our community recover and rebuild. ❤️ https://lnkd.in/gWzdN39u

Excited to announce our seed investment in Abstract, co-leading their $4.8M round alongside Communitas Capital! 🚀 Founders Pat Utz and 👨💻 Mohammed Hayat transformed their academic NLP project into an AI platform that helps businesses anticipate how proposed changes in government policy may affect them. Along with COO Matthew Chang, they've built a powerhouse team to help companies navigate complex regulatory landscapes By synthesizing data from over 145,000 government bodies in real time, Abstract enables companies to turn regulatory challenges into strategic opportunities. What started as a thesis project has evolved into essential infrastructure for modern enterprises, with their platform already serving 200+ organizations. The team's deep domain expertise and technological innovation in this space is truly impressive. Read more about why we invested below.

🚨CalmWave, is on the hunt for a talented Data Scientist to join their mission-driven team. 🚨 What’s CalmWave all about? They’re addressing one of healthcare’s most critical challenges—reducing alarm fatigue for clinicians and optimizing workflows using cutting-edge, AI-powered solutions. Why This Role is Exciting: 🤖 Build and deploy machine learning models that have a real-world impact 📊 Collaborate with a world-class, passionate team in a dynamic startup environment 💻 Work with cutting-edge AI to solve meaningful challenges Learn more and apply here: https://lnkd.in/gE2B_VjM

Looking for Account Executives in SF! 🚀 Truss Payments, a YC-backed fintech startup, is hiring! They’re simplifying the way construction businesses handle financial operations with an all-in-one platform for banking, payment automation, and workflow management. Truss is looking for motivated and enthusiastic founding Account Executives to join their fast-growing team. This is an incredible opportunity to dive into sales, own the full sales cycle, and make a real impact in a supportive, fast-paced environment. If you’re an excellent communicator, love problem-solving, and thrive on achieving ambitious goals, they’d love to hear from you! 📩 Reach out to learn more or apply directly.

Location matters. That’s the key takeaway in the LA Times’ latest piece on the venture ecosystem here in SoCal, and I couldn’t agree more. Bonfire Ventures 🔥 very own Jim Andelman weighed in, sharing how LA’s tightly-knit community of investors creates something truly unique. When Bonfire launched, our focus was on Southern California because there was (and still is) a ton of untapped potential here. We were driven by the belief that proximity allows for deeper relationships and more meaningful impact—something that has always been core to how we work with founders. As Jim shared in the article, “It’s easier to get together with [local companies] and refer them to resources that are helpful to them.” This perfectly sums up one of the best things about the venture ecosystem in LA: its spirit of collaboration. Whether it’s co-investing, sharing deal flow, or making introductions, the community here isn’t just competitive—it’s genuinely supportive. While our portfolio has expanded beyond SoCal, nearly 40% of the companies we back are still based right here. The Los Angeles Times does a great job capturing how LA’s venture ecosystem has grown while maintaining its heart. Check out the article: https://lnkd.in/gNCTUCFu. It’s a good one.

🚗 Congratulations to KeySavvy on securing $4.25M in funding! Anyone who's bought or sold a car privately knows the process can be inconvenient and uncertain. KeySavvy has made peer-to-peer car sales as simple as online shopping. What's even more impressive: they've partnered with Cars & Bids, AutoCheck by Experian, and Hemmings to bring their secure payment platform to even more buyers and sellers. Kudos to Andrew Crowell, Jason Hoetger, and the entire KeySavvy team on this milestone. You're making private car transactions safer and simpler for everyone. 🎉

Congratulations to Ophir Ronen 🚀 and the team at CalmWave on their $5.25M raise! 🚀 This milestone highlights their commitment to tackling the critical challenge of operational overload in healthcare systems. Healthcare professionals are under immense pressure, navigating complex workflows and overwhelming amounts of data. CalmWave’s platform leverages advanced AI to cut through the noise, streamline operations, and create clarity in even the most high-stress environments. This allows healthcare teams to focus on what matters most: delivering exceptional patient care. As healthcare evolves, CalmWave is leading the way with intelligent systems that reduce burnout and improve efficiency, and we’re proud to support their journey. Here’s to many more milestones ahead! 💙🔥 #BonfireVentures #PortfolioHighlight #HealthTech #AI #InnovationInHealthcare