Sandbox Industries is a Chicago-based venture capital firm founded in 2003 by Bob Shapiro and Nick Rosa. The firm connects established corporations with disruptive startups through strategic venture funds, notably managing the Blue Venture Funds in partnership with Blue Cross Blue Shield companies, focusing on healthcare, insurance, and sustainability.
33% of their portfolio is in Healthcare. Deal activity increased 100% year-over-year (2 deals in the last 12 months). Average disclosed round size is $23.9M (across 25 rounds with reported amounts).
Portfolio
21
Fund Size
—
Top Stage
Unknown
Last 12 Mo
2
Team
Mark R. Bartlett
VENTURE PARTNER
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
27 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Anzen | Series A | $16M | Nov 2025 |
 Anzen | Series A | $16M | Nov 2025 |
 Solera | Series E | $40M | Jan 2025 |
 Verituity | Series A | — | Jun 2024 |
 Indico Data | Series B | $19M | Jun 2024 |
 indico | Unknown | $19M | Jun 2024 |
 Lumeris | Growth | $100M | Apr 2024 |
 Noctrix Health | Series C | $40M | Jan 2024 |
 PinkDx | Series A | $40M | Jan 2024 |
| LLimber | Series A | $11M | Oct 2022 |
| CCosmo Media Labs | Unknown | — | Sep 2022 |
 First Dollar | Unknown | $14M | Jan 2022 |
| LLumiata | Series B | $14M | Jan 2021 |
| LLumiata | Unknown | $11M | Jan 2018 |
| SSwipeSense | Unknown | $10.6M | Dec 2017 |
 Ableto | Series B | $36.6M | Sep 2017 |
| Ableto | Series D | $36.6M | Aug 2017 |
| Solera | Series B | $18.3M | Jan 2017 |
| IId Experts | Unknown | $27.5M | Aug 2016 |
| LLumiata | Unknown | $10M | May 2016 |
| Solera | Series A | $3M | Nov 2015 |
 ZeOmega | Growth | $21.5M | Sep 2013 |
 Layr | Seed | $10M | — |
| Layr | Series A | $10M | — |
 SonarMD | Series A | $10M | — |
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Top Co-Investors
The Blue Venture Fund11 shared
.406 Ventures4 shared
Allegis3 shared
Khosla Ventures3 shared
Adams Street Partners3 shared
SJF Ventures3 shared
Madrona Venture Group2 shared
Guidewire Software2 shared
Jump Capital2 shared
HLM Investment Partners2 shared
Horizon Healthcare Services2 shared
Bain Capital Ventures2 shared
Cota Capital2 shared
Flyover Capital2 shared
Intel Capital2 shared
Future Standard2 shared
Kleiner Perkins1 shared
Deerfield1 shared
SNR Ventures1 shared
Scale Venture Partners1 shared
Last updated: 20 October 2026