Costanoa Ventures

Costanoa Ventures is a Palo Alto-based early-stage venture capital firm founded by Greg Sands, focused on seed and Series A investments in artificial intelligence, machine learning, and data infrastructure companies, backing technical founders building the software tools and platforms that define how modern enterprises collect, process, and act on data. The firm invests with initial checks from $2 million to $8 million and takes a deeply technical approach to due diligence, evaluating the scientific and engineering merits of a company's core technology. Costanoa focuses on companies that sit at the foundational layer of the modern data and AI stack, where the complexity of the technical problem creates a durable moat. Portfolio companies include Fivetran, the automated data movement and integration platform that has become one of the most widely deployed data pipeline companies; Heap, the behavioral analytics platform that automatically captures all user interactions; Ironclad, the digital contracting platform for legal and business teams; and Retool, the low-code development platform for building internal business tools. Beyond its original investments in Fivetran, Heap, Ironclad, and Retool, the portfolio includes additional AI, data infrastructure, and enterprise software companies.