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First Round Capital

Venture Capital · Founded 2004 · San Francisco, United States

#16 Investor Ranking 2026 Top 0.1% of investors worldwide

Seed-stage VC fund to technology companies

512 Portfolio companies+21% in 5 years
39 Unicorns
4 Decacorns
950 Investments
Jul 2026 Last investment
02 · Biggest holdings

First Round Capital’s biggest current holdings.

First Round Capital is a named shareholder in 8 companies. Dealroom estimates those stakes are worth about $2.4B in total — the disclosed percentage × each company’s latest valuation. The 8 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 VerkadaSecurity · Unicorn 16% $5.8B $928M
  2. 2 NotionEnterprise Software · Decacorn 5.5% $10.0B $550M
  3. 3 ClayEnterprise Software · Unicorn 13% $3.1B $403M
  4. 4 Rec RoomGaming · Unicorn 6.5% $3.5B $228M
  5. 5 PersonaEnterprise Software · Unicorn 7.5% $2.0B $150M
  6. 6 FalMedia · Unicorn 2% $4.5B $90M
  7. 7 7.5% $944M $71M
  8. 8 2% $1.0B $20M

2 companies hidden on this public profile. Estimated value = First Round Capital’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. First Round Capital also appears inside investor groups in Flexport, Together, where a standalone stake isn’t disclosed. See the underlying shareholder registers on Dealroom →

03 · Exits

First Round Capital’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from First Round Capital’s transaction record.

$82B IPO · 2019
Entered SeedNow $163BFood
$2.9B IPO · 2015
Entered Series ANow $46BFintech
$45B IPO · 2021
Entered Series B+Now $26BGaming
$2.8B IPO · 2021
Entered SeedNow $8.3BSpace
$6.0B IPO · 2021
Entered SeedNow $3.2BWellness Beauty
$5.0B IPO · 2021
Entered Series ANow $2.2BMedia
$1.6B IPO · 2019
Entered Series B+Now $4.5BFintech
$1.8B IPO · 2020
Entered SeedNow $3.8BFintech
$3.7B IPO · 2021
Entered Series ANow $2.2BHealth
$3.3B IPO · 2017
Entered SeedNow $100MFood
$2.6B acquisition · 2019
Entered SeedEnterprise Software
$1.9B acquisition · 2018
Entered Series AHealth
04 · Portfolio analysis

Where First Round Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 512 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA537
  2. Canada15
  3. UK4
  4. India2
  5. Ireland2
  6. Belgium1
  7. Chile1
  8. France1
  9. Germany1
  10. Hong Kong1
  11. Israel1
  12. Norway1
By sectorCount
  1. Enterprise Software145
  2. Fintech80
  3. Health61
  4. Marketing56
  5. Media51
  6. Education34
  7. Food25
  8. Telecom25
  9. Security24
  10. Fashion21
  11. Transportation17
  12. Home Living15
By stage enteredCount
  1. Seed306
  2. Series A174
  3. Series B+29
By growth stageCount
  1. Breakout Stage232
  2. Early Growth212
  3. Late Growth123
  4. Mature1
05 · Portfolio market map

Inside First Round Capital’s portfolio.

The 60 highest-funded portfolio companies, of 512 tracked.

Uber
Food · Centicorn
$163B
Flexport
Transportation · Unicorn
$8.0B
Together
Enterprise Software · Unicorn
$8.3B
Clover Health
Health · Unicorn
$2.2B
Fal
Media · Unicorn
$4.5B
K2 Space
Space · Unicorn
$6.8B
Roblox
Gaming · Decacorn
$26B
Warby Parker
Wellness Beauty · Unicorn
$3.2B
Verkada
Security · Unicorn
$5.8B
Planet Labs
Space · Unicorn
$8.3B
Bowery Farming
Food
$944M
Boxed
Food
$78M
Goat
Fashion · Unicorn
$3.7B
Block
Fintech · Decacorn
$46B
PayFit
Fintech · Unicorn
$2.0B
DNAnexus
Health
$600M
MetroMile
Fintech
$137M
Persona
Security · Unicorn
$2.0B
SingleStore
Enterprise Software · Unicorn
$1.3B
AppNexus
Media · Unicorn
$1.8B
DoubleVerify
Media · Unicorn
$2.2B
Fab
Home Living
$15M
Merlin Labs
Transportation
$800M
Odeko
Food
$384M
Augury
Engineering and Manufacturing Equipment · Unicorn
$1.0B
BILL
Fintech · Unicorn
$4.5B
Notion
Enterprise Software · Decacorn
$10B
Rover
Home Living · Unicorn
$1.6B
Forward
Health · Unicorn
$1.1B
Flatiron Health
Health · Unicorn
$1.9B
Rec Room
Gaming · Unicorn
$3.5B
Iru
Enterprise Software
$850M
Looker.com
Enterprise Software · Unicorn
$2.6B
FiscalNote
Fintech
$122M
Swift Navigation
Transportation
$500M
Kiavi
Fintech
$717M
ring
Real Estate · Unicorn
$1.0B
Parallel Web Systems
Enterprise Software · Unicorn
$2.0B
Smartling
Enterprise Software
$100M
One Kings Lane
Home Living
$30M
Assort Health
Health · Unicorn
$1.2B
Alma Health
Health
$800M
Aisera
Enterprise Software
$360M
Omni
Enterprise Software · Unicorn
$1.5B
Loyal
Health
$400M
Candid Health
Health
$480M
OnDeck
Fintech
$90M
Thirty Madison
Health
$500M
Nomad Health
Health
$525M
Clay
Marketing · Unicorn
$3.1B
Blue Apron
Food
$100M
Pantheon
Hosting · Unicorn
$1.0B
WorkOS
Security · Unicorn
$2.0B
Labelbox
Enterprise Software
$440M
Legion
Jobs Recruitment
$200M
Farcaster
Media
$600M
Pomelo Care
Health · Unicorn
$1.7B
Gauntlet Network
Fintech
$500M
Inspirato
Travel
$220M
Suki
Health
$500M
06 · Portfolio founders

Where First Round Capital’s portfolio founders come from.

169 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States138
  2. France5
  3. Israel3
  4. Australia2
  5. Canada2
  6. Italy2
  7. Argentina1
  8. British Indian Ocean Territory1
  9. China1
  10. Peru1
UniversityCount
  1. Stanford University15
  2. Massachusetts Institute of Technology13
  3. Wharton School of the University of Pennsylvania9
  4. Yale University9
  5. Harvard University7
  6. University of California, Berkeley7
  7. Brown University5
  8. Harvard Business School5
  9. Princeton University5
  10. Stanford University Graduate School of Business5
Previous companyCount
  1. Alphabet | Google11
  2. Microsoft11
  3. Apple7
  4. McKinsey & Company7
  5. Bain & Company5
  6. LinkedIn4
  7. Stanford University4
  8. Chegg3
  9. Cheggindia3
  10. Credit Suisse3