Underdog Labs

Underdog Labs is an Oakland-based early-stage venture capital firm focused on pre-seed investing in belief-driven founders building software and consumer businesses. It backs U.S. startups from pre-seed through seed and early-stage rounds, often before product launch or monetization, and targets rounds of $1 million or less. The firm’s investment activity spans AI, B2B software, SaaS, enterprise software, future of work, HR tech, healthtech, fintech, legaltech, marketplaces and select consumer sectors.