Underdog Labs is an early-stage (pre-seed) venture capital firm that focuses on investing in belief-driven founders with "piercing vision" to help them create and scale successful companies. They typically invest in fundraising rounds of $1M or less, often pre-product or pre-monetization, primarily in B2B software and consumer sectors, and occasionally in hardware manufacturing.
33% of their portfolio is in Consumer. Deal activity decreased year-over-year (1 deals in the last 12 months vs 2 prior). Their most common stage is seed (50% of deals). Average disclosed round size is $3.4M (across 6 rounds with reported amounts).
Portfolio
6
Fund Size
—
Top Stage
Seed
Last 12 Mo
1
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
6 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| OObviant | Series A | $7.1M | Jun 2025 |
 Keebler Health | Seed | $6M | Feb 2025 |
 Nowadays | Seed | $2M | Dec 2024 |
 Realworld | Seed | $3.4M | Apr 2021 |
 Pangea.app | Pre-Seed | $400K | Apr 2020 |
 Telo Trucks | Pre-Seed | $1.4M | — |
Top Co-Investors
MBX Capital1 shared
Hustle Fund1 shared
New Stack1 shared
Fitz Gate Ventures1 shared
Bezos Expeditions1 shared
The Helm1 shared
Amplifyher Ventures1 shared
Human Ventures1 shared
Techstars1 shared
Y Combinator1 shared
Basis Set Ventures1 shared
Decacorn1 shared
E14 Fund1 shared
GoAhead Ventures1 shared
Shield Capital1 shared
Motivate Venture Capital1 shared
A*1 shared
Vista Equity Partners1 shared
Last updated: 16 April 2026