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  "markdown": "Venture firm.\n\nWebsite: https://menlovc.com\n\n## Companies on Anchor Terminal\n\n- **Project Affinity, Inc.**, Series C, led a round\n  - [Affinity](https://www.anchorterminal.com/tools/affinity.md), graded B, 63.4/100\n  - Source: https://www.affinity.co/press-release/affinity-rings-up-80m-in-series-c-funding-to-bring-relationship-intelligence-to-dealmakers\n- **Anthropic**, Series E, March 2025, Series G, February 2026\n  - [Claude API](https://www.anchorterminal.com/tools/anthropic-api.md), graded BB, 77.3/100\n  - [Claude Agent SDK](https://www.anchorterminal.com/tools/claude-agent-sdk.md), graded BB, 70.1/100\n  - [Claude Code](https://www.anchorterminal.com/tools/claude-code.md), graded C, 59.9/100\n  - Source: https://www.anthropic.com/news/anthropic-raises-series-e-at-usd61-5b-post-money-valuation\n- **Anthropic, PBC**, Series E, March 2025, Series G, February 2026\n  - [Claude Duet](https://www.anchorterminal.com/tools/claude-duet.md), graded F, 17.9/100\n  - Source: https://www.anthropic.com/news/anthropic-raises-series-e-at-usd61-5b-post-money-valuation\n- **Elorian**\n  - [Glimpse](https://www.anchorterminal.com/tools/elorian-glimpse.md), graded D, 49/100\n  - Source: https://elorian.ai/\n- **Profound Platform Inc. (dba Finch)**, Series A, June 2022, Series B, February 2023, led a round\n  - [Finch](https://www.anchorterminal.com/tools/finch.md), graded BB, 71.7/100\n  - Source: https://www.tryfinch.com/blog/finch-raises-15m-series-a-to-power-the-future-of-connected-and-programmable-employment\n  - Source: https://www.tryfinch.com/blog/announcing-finchs-40m-series-b\n- **Higgsfield Inc.**, Series A extension, January 2026\n  - [Higgsfield API](https://www.anchorterminal.com/tools/higgsfield.md), graded B, 63.6/100\n  - Source: https://techcrunch.com/2026/01/15/ai-video-startup-higgsfield-founded-by-ex-snap-exec-lands-1-3b-valuation\n- **Modal**, Series C, May 2026, Series D, October 2026\n  - [Modal](https://www.anchorterminal.com/tools/modal.md), graded B, 63.7/100\n  - [Modal Sandboxes](https://www.anchorterminal.com/tools/modal-sandboxes.md), graded B, 66/100\n  - Source: https://modal.com/blog/1-billion-annualized-run-rate-series-d\n- **All Hands AI**, Seed, September 2024, Series A, November 2025, led a round\n  - [OpenHands](https://www.anchorterminal.com/tools/openhands.md), graded BB, 71/100\n  - Source: https://www.openhands.dev/blog/press-release-all-hands-announces-5m-to-scale-ai-agent-for-software-development\n- **OpenRouter**, Series B, May 2026\n  - [OpenRouter](https://www.anchorterminal.com/tools/openrouter.md), graded B, 68.6/100\n  - Source: https://openrouter.ai/blog/announcements/series-b/\n- **Orb, Inc.**, Series B, September 2024\n  - [Orb](https://www.anchorterminal.com/tools/orb.md), graded B, 66.6/100\n  - Source: https://www.withorb.com/blog/series-b\n- **Particle Health, Inc.**, Series A, March 2020, Series B, July 2022, led a round\n  - [Particle Health](https://www.anchorterminal.com/tools/particle-health.md), graded D, 48.8/100\n  - Source: https://particlehealth.com/blog/from-series-a-to-today\n- **Pinecone**, Series A, March 2022, Series B, April 2023, led a round\n  - [Pinecone API + MCP](https://www.anchorterminal.com/tools/pinecone.md), graded BB, 77.2/100\n  - Source: https://www.pinecone.io/newsroom/pinecone-announces-usd28m-series-a-financing-to-bring-search-into-ai-age/\n- **Prime Intellect**, Seed, February 2025\n  - [Prime Agent](https://www.anchorterminal.com/tools/prime-agent.md), graded C, 60.5/100\n  - Source: https://www.primeintellect.ai/blog/fundraise\n- **ShipBob, Inc.**, Series C, September 2018, Series E, June 2021, led a round\n  - [ShipBob](https://www.anchorterminal.com/tools/shipbob.md), graded C, 60.9/100\n  - Source: https://www.shipbob.com/blog/series-c-funding/\n- **Town.com, Inc.**, Series B, October 2026, led a round\n  - [Town](https://www.anchorterminal.com/tools/town.md), graded D, 48.8/100\n  - Source: https://www.town.com/press/series-b\n- **Conway Research (maker of Underdog)**, First round, April 2026, through Anthology fund\n  - [Underdog](https://www.anchorterminal.com/tools/underdog.md), graded F, 30.1/100\n  - Source: https://underdog.ai/backers\n- **Conway Research**, First round, April 2026, through Anthology fund\n  - [Underdog Bark 3.0](https://www.anchorterminal.com/tools/underdog-bark-3.md), graded D, 48.2/100\n  - Source: https://underdog.ai/backers\n- **Unstructured**, Series B, March 2024, led a round\n  - [Unstructured API + MCP](https://www.anchorterminal.com/tools/unstructured.md), graded D, 47.2/100\n  - Source: https://www.pillsburylaw.com/en/news-and-insights/menlo-ventures-40m-series-b-funding-unstructured.html\n\n## Where they invest\n\n- Model APIs \u0026 inference, 3\n- Agent harnesses, 3\n- Personal assistants, 2\n- CRM \u0026 customer platforms, 1\n- Agent frameworks \u0026 SDKs, 1\n- Payroll infrastructure, 1\n- Video generation, 1\n- GPU \u0026 serverless compute, 1\n- Code execution sandboxes, 1\n- Payment \u0026 monetisation platforms, 1\n- Health records \u0026 wellness data, 1\n- Retrieval \u0026 vector search, 1\n- Shipping \u0026 fulfilment, 1\n- Local AI, 1\n- Speech-to-text, 1\n- Document parsing \u0026 extraction, 1\n\n## Founders they backed\n\n- [Dario Amodei](https://www.anchorterminal.com/people/dario-amodei/), Anthropic\n- [Daniela Amodei](https://www.anchorterminal.com/people/daniela-amodei/), Anthropic\n- [Tom Brown](https://www.anchorterminal.com/people/tom-brown/), Anthropic\n- [Jack Clark](https://www.anchorterminal.com/people/jack-clark/), Anthropic\n- [Jared Kaplan](https://www.anchorterminal.com/people/jared-kaplan/), Anthropic\n- [Sam McCandlish](https://www.anchorterminal.com/people/sam-mccandlish/), Anthropic\n- [Chris Olah](https://www.anchorterminal.com/people/chris-olah/), Anthropic\n- [Karan Ahuja](https://www.anchorterminal.com/people/karan-ahuja/), Anthropic, PBC\n- [Andrew Dai](https://www.anchorterminal.com/people/andrew-dai/), Elorian\n- [Yinfei Yang](https://www.anchorterminal.com/people/yinfei-yang/), Elorian\n- [Seth Neel](https://www.anchorterminal.com/people/seth-neel/), Elorian\n- [Jeremy Zhang](https://www.anchorterminal.com/people/jeremy-zhang/), Profound Platform Inc. (dba Finch)\n- [Ansel Parikh](https://www.anchorterminal.com/people/ansel-parikh/), Profound Platform Inc. (dba Finch)\n- [Robert Brennan](https://www.anchorterminal.com/people/robert-brennan/), All Hands AI\n- [Xingyao Wang](https://www.anchorterminal.com/people/xingyao-wang/), All Hands AI\n- [Alex Atallah](https://www.anchorterminal.com/people/alex-atallah/), OpenRouter\n- [Chris Clark](https://www.anchorterminal.com/people/chris-clark/), OpenRouter\n- [Louis Vichy](https://www.anchorterminal.com/people/louis-vichy/), OpenRouter\n- [Alvaro Morales](https://www.anchorterminal.com/people/alvaro-morales/), Orb, Inc.\n- [Kshitij Grover](https://www.anchorterminal.com/people/kshitij-grover/), Orb, Inc.\n- [Troy Bannister](https://www.anchorterminal.com/people/troy-bannister/), Particle Health, Inc.\n- [Dan Horbatt](https://www.anchorterminal.com/people/dan-horbatt/), Particle Health, Inc.\n- [Edo Liberty](https://www.anchorterminal.com/people/edo-liberty/), Pinecone\n- [Divey Gulati](https://www.anchorterminal.com/people/divey-gulati/), ShipBob, Inc.\n- [Dhruv Saxena](https://www.anchorterminal.com/people/dhruv-saxena/), ShipBob, Inc.\n- [Jean-Denis Greze](https://www.anchorterminal.com/people/jean-denis-greze/), Town.com, Inc.\n- [Tony Vincent](https://www.anchorterminal.com/people/tony-vincent/), Town.com, Inc.\n- [Sigil Wen](https://www.anchorterminal.com/people/sigil-wen/), Conway Research (maker of Underdog), Conway Research\n- [Brian S. Raymond](https://www.anchorterminal.com/people/brian-s-raymond/), Unstructured\n\n## Questions\n\n### Which AI tools has Menlo Ventures invested in?\n\nAnchor Terminal lists Project Affinity, Inc., Anthropic, Anthropic, PBC, Elorian, Profound Platform Inc. (dba Finch), Higgsfield Inc., Modal, All Hands AI, OpenRouter, Orb, Inc., Particle Health, Inc., Pinecone, Prime Intellect, ShipBob, Inc., Town.com, Inc., Conway Research (maker of Underdog), Conway Research and Unstructured backed by Menlo Ventures.\n\n### How are Menlo Ventures's companies graded?\n\nOn Anchor Terminal's benchmark, Affinity (B, 63.4), Claude API (BB, 77.3), Claude Agent SDK (BB, 70.1), Claude Code (C, 59.9), Claude Duet (F, 17.9), Glimpse (D, 49), Finch (BB, 71.7), Higgsfield API (B, 63.6), Modal (B, 63.7), Modal Sandboxes (B, 66), OpenHands (BB, 71), OpenRouter (B, 68.6), Orb (B, 66.6), Particle Health (D, 48.8), Pinecone API + MCP (BB, 77.2), Prime Agent (C, 60.5), ShipBob (C, 60.9), Town (D, 48.8), Underdog (F, 30.1), Underdog Bark 3.0 (D, 48.2) and Unstructured API + MCP (D, 47.2).\n\nInvestors are named from the companies' own announcements, the investors' own pages, Y Combinator's company pages, public filings and news reports of a round, each with its source. An investor isn't a sign of quality, and nobody can pay to be listed or to change a grade. To correct something or have a page removed, write to privacy@anchorterminal.com.\n",
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