Companies Backed by Underdog Labs
3 companies in Underdog Labs's investment portfolio.
Back to Underdog Labs profileInvestment Thesis
“Backing underdog founders building category-defining technology companies.”
Portfolio Companies (3)
Airbnb
Airbnb runs an online marketplace for short and long-term stays, experiences and services, earning a commission on bookings. It listed on Nasdaq as ABNB in December 2020; 2025 revenue was $12.2 billion.
Coinbase
Coinbase Global (Nasdaq: COIN) runs the largest US cryptocurrency exchange and a bitcoin custody business. It went public by direct listing in April 2021 and joined the S&P 500 in May 2025.
Stripe
Stripe builds payments and financial infrastructure software used by more than 5 million businesses. It remains privately held and was valued at $159 billion in a February 2026 tender offer.
Portfolio Analysis
Underdog Labs has built a portfolio of 3 companies across 3 sectors, including Fintech, Marketplace, Web3. Of these investments, 2 have achieved successful exits through acquisitions or IPOs, demonstrating the firm's track record of backing companies to meaningful outcomes.
The portfolio reflects investments across the IPO, Series D+ stages, showing Underdog Labs's approach to supporting companies at multiple points in their growth journey.
Frequently Asked Questions
How many companies has Underdog Labs invested in?
Underdog Labs has invested in 3+ companies across 3 different sectors. Of these, 2 have achieved successful exits through acquisitions or IPOs.
What sectors does Underdog Labs invest in?
Underdog Labs's portfolio spans Fintech, Marketplace, Web3. This diversification reflects the firm's broad investment thesis and sector expertise.
What stages does Underdog Labs invest at?
Underdog Labs invests across the IPO, Series D+ stages. Their portfolio includes companies at various points in their growth journey.
How many exits has Underdog Labs had?
Underdog Labs has had 2 portfolio companies achieve exits through acquisitions or IPOs. This track record of exits demonstrates the firm's ability to identify and support companies through successful outcomes.
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