A venture capital firm that strives to have a positive impact on everything we do. When we invest, we're invested. When we’re in, we’re all in! #teamwork
Menlo Park, California
Joined August 2010
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Menlo’s 2026 State of Consumer AI report is here.
The headline: adoption barely moved this year, but global spend tripled to $40B and existing users went deeper.
55% of AI users now pay for at least one product
25% of Americans use AI every day
The story isn't how many people have tried AI. It's what happens as the relationship deepens across time, money, tasks, and autonomy.
Full report from @shawnvc, @amywumartin and @samanthasborja here: mnlo.vc/ConsumerAI_26
Menlo Ventures retweeted
✨ #NowHiring ✨
Three companies using AI to turn information into better decisions when it matters most. And they're all hiring: @function, @OpenEvidence, and Peregrine
Menlo Ventures retweeted
Today is an exciting one: 100 billion words have been transcribed with Flow.
This milestone belongs to all of you - the people using Flow to interact with your devices in a more natural way.
We're just getting started.
Menlo Ventures retweeted
Today Rocker is out of stealth. We know you've heard about AI assistant after AI assistant (we're tired of it too!). Rocker is something different -- it is both an assistant for the busiest knowledge workers and an AI nervous system for companies. Read more from @alexrkonrad upstartsmedia.com/p/stripe-a…
Menlo Ventures retweeted
Over 350,000 people with legal problems have now been helped by Eve.
Next milestone: 1,000,000.
Huge milestone: Eve has helped 350,000 people take on a system built to wear them down.
Take Mike Dickerson. A four-car pileup, two hip surgeries, then an insurer betting he’d take a lowball offer.
He didn’t. His lawyers @GeigerGroup fought for years and, with Eve’s help, got him 15x the first offer.
Firms on Eve have recovered $3.5B+ for their clients, and we’re just getting started.
Next milestone: 1 million people helped.
Menlo Ventures retweeted
EXCLUSIVE: A new AI assistant, Rocker, emerges from stealth today, focused on enterprise.
Founded by two ex-Stripe product and engineering leaders, Rocker bills itself as an app, not an agent-builder -- and looks to catch "Oh, shit" moments for managers drowning in projects.
The #FortuneCyber60 list is here.
Top companies include:
➡️ @1Password
➡️ @cyera_io
➡️ @AWNetworks
➡️ @VerkadaHQ
➡️ @CatoNetworks
🔗 See who made our full list with @lightspeedvp and @awscloud: bit.ly/4jGu6rS
Menlo Ventures retweeted
The largest math proof in human history is now computer-verified.
Today, Axiom announces a complete Lean auto-formalization of the Classification of Finite Simple Groups, the "periodic table of symmetry."
About 15,000 pages, built by over 100 mathematicians across generations.
Menlo Ventures retweeted
We’ve come so far and yet this market is really just getting started…
Anthropic's S-1 just revealed only 250 customers are spending over $10M on AI:
Early Anthropic investor @mmurph at @MenloVentures on why we're at the "very tip of the spear" of enterprise AI adoption:
"It shows you the value of the technology. If that happens at some large company, you're like, 'Why isn't that happening at more large companies?'
Probably because they haven't tried it out enough. They haven't enabled their organization to do it. They haven't re-platformed all their existing applications.
Think about this market and how big these companies have become in such a short period of time. Then you look and you're like, 'Wait a minute. How penetrated is the technology in the Fortune 5000?'
Almost none.
Okay, so they're doing some coding and some productivity. How many of them have really re-platformed their whole application stack?
Nobody.
We're at the very tip of the spear on all the re-platforming, all the new internal productivity apps these companies are going to build, and their comfort level and understanding of AI.
The whole next leg of this wave will be spectacular."
Menlo Ventures retweeted
Surreal to be on this list along with investors I look up to like @mmurph (#1 🐐). So grateful for the founders I get to work with 🙏🏻
Menlo Ventures retweeted
Menlo Ventures is set to have its largest-ever return from its Anthropic investment.
Partner Matt Murphy says even if Anthropic goes public, the AI ecosystem is still in early development bit.ly/4ily3jy
Menlo Ventures retweeted
"Here's a company at scale that year-over-year grew over 10x - It's not the kind of growth nor scale you see in the 25 years in venture business."
Early Anthropic investor @MenloVentures's @mmurph reacts to the company's S-1 filing out this morning:
cnbc.com/video/2026/10/26/an…
Menlo Ventures retweeted
.@mmurph reveals how @MenloVentures figured out Anthropic had built frontier models at a much lower cost before it even launched:
"Venture can often feel like an individual sport. We've always tried to practice it as a team sport, because it's more fun that way.
It's more helpful to entrepreneurs, because you get the whole team. Different people who can provide different things.
Joff Redfern, former CPO. Tim Tully, former CTO. We've got a lot of people who can help in any situation.
And not just help the portfolio companies. They help me.
Even on the Anthropic investment, I personally felt highly, highly convicted.
But it was Tim who went and spent a lot of time with Tom Brown to say, 'Okay, I understand this compute multiplier thing.
What they're doing. Why they've been able to build these really powerful models at a much lower cost. And why we think that can compound and be an advantage over time.'
Otherwise I would've been making it more of an intuitive people decision. 'I just feel like this is the one.'
When you can back that up with the former CTO of a $20 billion company saying, 'No, this is special technology,' that made my life a lot easier. And made sure I'd done my homework as much as one could."
New @ThePeelPod with Matt Murphy @mmurph at @MenloVentures
We go inside Menlo's pre-revenue, pre-launch Anthropic investment and how they emerged as a top AI firm.
Matt might be the only person who invested pre-revenue in both Google and Anthropic, and we talk through when to break the rules in venture, the three LP's that made over $1B each on the $500M Anthropic SPV Menlo raised without being able to show a single financial, Menlo's barbell investing approach, and why today isn't like 1999.
Full episode here + links below.
Timestamps:
0:00 How to read Anthropic's S-1
1:21 Do AI companies actually make money?
2:23 Google didn't want ads. Anthropic didn't plan on enterprise.
4:51 Bending the rules to back Anthropic pre-revenue, pre-launch
9:50 You can't be a leading AI firm without a top model company
12:00 Leading the Series D at $18B six months later
14:22 Why the best researchers chose Dario
15:25 Menlo's first-ever SPV, nearly the size of the fund
16:44 The LP meeting that sparked a $500M SPV
19:18 Raising at $18B without showing financials
20:04 Three LP's made $1B+ each
24:23 Why Matt joined Menlo in 2015
26:00 Rebuilding Menlo over the past decade
32:49 Venture as a team sport
35:45 How to keep a challenger mentality
38:15 Why VC firms decay
41:31 The Anthology Fund: OpenRouter, Wispr, Goodfire
42:27 Ownership vs. backing the best
46:10 Why this isn't 1999
48:06 Frontier vs. open weight models
51:29 The barbell portfolio strategy
53:54 Avoiding the messy middle between early and growth
55:07 How to spot a category leader
57:18 Fortune 5000 AI adoption: "almost none"
59:06 Menlo is in 10 of 70+ neolabs: Skild, Chai, Axiom
1:02:13 Where $1B AI startup raises actually go
1:04:18 Phase 1 vs. Phase 2 of AI
1:06:26 What the AI IPOs mean for venture
1:09:11 What Matt does differently after 25 years
1:10:52 The Alex Smith lesson
#1 on the list of top AI investors! 🏆 Congrats, @mmurph!
From @AnthropicAI to @OpenRouter, @Lovable and @WeAreLegora, Matt helped put Menlo at the forefront of AI.
Lucky to work alongside him and thrilled to see him.
Who are the best AI investors?
Today we release the 2026 Strebulaev-Jackson AI Venture Ranking of the top 100 AI venture capitalists. Firms raise the funds, but individual investors pick the companies, negotiate the terms and sit on the boards.
Anthropic, which has just filed for its long-awaited IPO, is the highest-scoring AI investment for 20 of the 100 investors in our ranking.
Another Menlo investor among the top 100 AI VCs! 🎉
Huge congrats to @AmyWuMartin--from investments in @SunoMusic and @HiggsfieldAI to Nectar Social and @altadailyapp Amy is backing the next generation of consumer AI.
Lucky to have her leading the charge for Menlo in NYC!
Who are the best AI investors?
Today we release the 2026 Strebulaev-Jackson AI Venture Ranking of the top 100 AI venture capitalists. Firms raise the funds, but individual investors pick the companies, negotiate the terms and sit on the boards.
Anthropic, which has just filed for its long-awaited IPO, is the highest-scoring AI investment for 20 of the 100 investors in our ranking.
On the latest episode of The Peel, @mmurph and @TurnerNovak dive deep into the strategy, exceptional team, and portfolio companies that make up Menlo.
Matt's thoughts after 25 years in the industry: "Play more to win. Don’t worry about losing. Win as a team. Accept the fact that this business is really hard and there’s going to be a lot of losses, and do that in a very classy, empathetic way."
Watch the full conversation here: youtube.com/watch?v=kQcX4sOa…
New @ThePeelPod with Matt Murphy @mmurph at @MenloVentures
We go inside Menlo's pre-revenue, pre-launch Anthropic investment and how they emerged as a top AI firm.
Matt might be the only person who invested pre-revenue in both Google and Anthropic, and we talk through when to break the rules in venture, the three LP's that made over $1B each on the $500M Anthropic SPV Menlo raised without being able to show a single financial, Menlo's barbell investing approach, and why today isn't like 1999.
Full episode here + links below.
Timestamps:
0:00 How to read Anthropic's S-1
1:21 Do AI companies actually make money?
2:23 Google didn't want ads. Anthropic didn't plan on enterprise.
4:51 Bending the rules to back Anthropic pre-revenue, pre-launch
9:50 You can't be a leading AI firm without a top model company
12:00 Leading the Series D at $18B six months later
14:22 Why the best researchers chose Dario
15:25 Menlo's first-ever SPV, nearly the size of the fund
16:44 The LP meeting that sparked a $500M SPV
19:18 Raising at $18B without showing financials
20:04 Three LP's made $1B+ each
24:23 Why Matt joined Menlo in 2015
26:00 Rebuilding Menlo over the past decade
32:49 Venture as a team sport
35:45 How to keep a challenger mentality
38:15 Why VC firms decay
41:31 The Anthology Fund: OpenRouter, Wispr, Goodfire
42:27 Ownership vs. backing the best
46:10 Why this isn't 1999
48:06 Frontier vs. open weight models
51:29 The barbell portfolio strategy
53:54 Avoiding the messy middle between early and growth
55:07 How to spot a category leader
57:18 Fortune 5000 AI adoption: "almost none"
59:06 Menlo is in 10 of 70+ neolabs: Skild, Chai, Axiom
1:02:13 Where $1B AI startup raises actually go
1:04:18 Phase 1 vs. Phase 2 of AI
1:06:26 What the AI IPOs mean for venture
1:09:11 What Matt does differently after 25 years
1:10:52 The Alex Smith lesson
Menlo Ventures retweeted
✨ #NowHiring ✨
Your codebase, your inbox, and your voice. This week's spotlight is on three recently funded Menlo-backed companies reinventing how we get work done and they're all hiring: @greptile, @TownAI, and @WisprFlow
Menlo Ventures retweeted
Thx for the styling @Jennywang 😉 and congrats on your $20M Series A led by @eurie_kim @ForerunnerVC!
Data is one of the last moats. Alta users upload $1B of closet inventory and wishlist $100M+ items a month
Check it out👇
apps.apple.com/us/app/alta-d…
🔥🔥
Menlo Ventures retweeted
Thrilled to announce Alta’s $20M Series A led by @ForerunnerVC with @Eurie_Kim joining our board, and continued support from @MenloVentures, Aglae @LVMH, and Benchstrength. Thank you to Emma & @FortuneMagazine for sharing!
fortune.com/2026/10/22/alta-…
