Progressive Ventures
About Progressive Ventures
Progressive Ventures is a venture capital firm located in Palo Alto, California, dedicated to supporting the next wave of AI innovation in enterprises. Founded in 2023, the firm focuses on investing in seed-stage B2B founders and offers a range of services to enhance their growth.
The firm provides early access to deal flow for investors interested in B2B AI companies. It also supports founders through operator-led diligence and institutional reporting, leveraging a team with strong backgrounds in product, engineering, marketing, and entrepreneurship. Progressive Ventures aims to back excepti
Founding dates differ by source. Crunchbase lists August 1, 2023, while f4.fund says the firm was founded in 2024 and the firm's own site says it has operated since 2024. PitchBook lists a San Francisco office address, while the firm and Crunchbase place it in Palo Alto. Mala Ramakrishnan is listed as managing partner and founder. Earlier she founded companies Cuvo and Aeroprise, both acquired, and held product roles at Meta, Cloudera, Oracle and Veeva. Raymond Lee is listed as general partner and co-founder, and Ranjeet Tyagi as founding partner. Crunchbase reports a team of 1 to 10 people.
The firm's stated thesis is that the next enterprise companies will be built around enterprise workflows, proprietary data and AI-native products. It describes itself as technically deep and sector agnostic, and expects founders to bring the sector focus. Most deal flow comes from Y Combinator, StartX and Berkeley SkyDeck. The firm lists Andreessen Horowitz, General Catalyst, Kleiner Perkins, Accel, GV, Pear VC and Y Combinator as co-investors. Diligence covers technology, commercial validation and operator experience. In March 2026 the firm hosted the AI Innovators Forum in San Francisco for founders, executives and investors. Fund I was reported closed in November 2025. One profile puts it at $12 million from 94 limited partners, and says it holds 38 frontier AI startups. The firm's own site counts 43 companies backed since 2024.
Seed is the stated stage. Third-party profiles say the firm also writes friends-and-family and angel checks and sets a $100,000 minimum. No maximum check size is public. The firm's site says it looks for $500K to $1M in recognized revenue in the first year, and prefers founders who could raise $3M or more in a seed round.
- Leadbay: martech company; Seed round of $4.3M in May 2026, per the Lounge deals desk.
- Crimson: legal tech company listed on the firm's site; $2.5M seed in May 2026, led by Y Combinator, with Progressive Ventures participating rather than leading, per f4.fund.
- Sprouts.ai: martech company listed on the firm's site; round size not public.
- Imagine AI: martech company listed on the firm's site; round size not public.
- progressive.vc
- crunchbase.com/organization/progressive-ventures
- crunchbase.com/organization/progressive-ventures/profiles_and_contacts
- pitchbook.com/profiles/investor/616406-50
- pitchbook.com/profiles/fund/26181-19F
- privateequityinternational.com/institution-profiles/progressive-ventur
- f4.fund/firms/progressive-ventures
- superscout.co/investor/progressive-ventures
Investing activity
Progressive Ventures appears in 2 AI deals tracked by the AI Lounge deals desk. The rounds are mostly Seed, with a median round size of $4M. The most recent are Crimson (Seed, $2.5M, May 2026) and Leadbay (Seed, $4.3M, May 2026).
Progressive Ventures most often invests alongside Y Combinator, TwentyTwo VC, Amino Capital and Scale Asia Ventures, and the companies it backs on AI Lounge are mostly in AI.
Deals
Frequently asked questions about Progressive Ventures
Does Progressive Ventures invest in AI startups?
Yes. The firm focuses on seed-stage B2B and enterprise AI companies, sourcing most deals from Y Combinator, StartX and Berkeley SkyDeck.
What is the minimum check size from Progressive Ventures?
Third-party profiles list a $100,000 minimum. No maximum check size has been made public.
What stage does Progressive Ventures invest in?
Seed is the stated stage. Third-party profiles also report friends-and-family and angel activity.
How big is Progressive Ventures Fund I?
Fund I was reported closed in November 2025. One profile reports $12 million from 94 limited partners, while PitchBook shows no size.
Who leads Progressive Ventures' AI investing?
Public sources list Mala Ramakrishnan as managing partner, with Raymond Lee and Ranjeet Tyagi also listed as partners. None names a separate AI lead.
What AI companies has Progressive Ventures invested in?
Progressive Ventures's AI investments include Crimson and Leadbay. The 2 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Progressive Ventures based?
Progressive Ventures is based in Palo Alto, California, United States.
What stage does Progressive Ventures invest at?
In the rounds tracked on AI Lounge, Progressive Ventures has invested at Seed, with a median round of $4M.
Who does Progressive Ventures co-invest with?
Progressive Ventures's most frequent co-investors on AI Lounge are Y Combinator (2 deals), TwentyTwo VC (1 deal), Amino Capital (1 deal), Scale Asia Ventures (1 deal) and ACQ Ventures (1 deal).
How can founders reach Progressive Ventures?
Founders on AI Lounge can see Progressive Ventures's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Progressive Ventures to their Investor Pipeline to track the conversation.