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First Round Capital

San Francisco, CA · Invests in US; North America · Website

SeedSeries AConsumer Apps & SocialB2B SaaSAI & Machine LearningDeveloper ToolsSales & Marketing TechFintechEnterprise SoftwareDeveloper Tools & InfrastructureHealthcare & Digital HealthFintech & PaymentsRobotics & AutomationLegal & RegtechMarketing & Adtech

Thesis

Beginnings matter. We work with founders exclusively at the earliest stages of company building, often when all they have is an 'imagine if.' We look for compelling and contrarian insights into how the world works—what do you understand about a market that others miss? Our role is to accelerate the path from idea to product-market fit through embedded partnership.

Likely not a fit for

We avoid hardware-only plays without software differentiation, pure infrastructure without founder engagement, consumer apps without clear defensibility, and markets that aren't worth winning at scale. We also don't back founders unwilling to do the unglamorous work of early-stage entrepreneurship.

How they invest

Lead or follow
Usually leads
Typical decision
~2 weeks
Warm intro
Preferred
Involvement
Takes a board seat
Fund status
Actively deploying
Assets under mgmt
$175M
Decision process
Partnership vote

Partners & team

10 contacts on file

HB

Hayley Barna

PartnerPartner · Primary contact

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h•••@fi•••.com

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JK

Josh Kopelman

PartnerPartner

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j•••@fi•••.com

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BT

Bill Trenchard

PartnerPartner

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BB

Brett Berson

PartnerPartner

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TJ

Todd Jackson

PartnerPartner

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LW

Liz Wessel

PartnerPartner

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MA

Meka Asonye

PartnerPartner

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AD

Annie Duke

PartnerSpecial Partner, Decision Science

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CF

Chris Fralic

PartnerBoard Partner

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RH

Rob Hayes

PartnerPartner

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Portfolio

Media KitEnterprise Software

Media kits are professional documents showcasing brand assets; Notion offers various templates for creating them.

HamulGaming

Hamul is a startup that has joined Roblox, focusing on innovative solutions and technical challenges within the Roblox platform.

UberLogistics Supply Chain

Uber is a technology platform that reimagines the way the world moves, offering services for rides, food delivery, and logistics. It aims to provide seamless transportation solutions while committing to sustainability and safety.

SquareFintech Payments

Square provides a comprehensive suite of tools for businesses to manage payments, track inventory, and improve operations across various sectors including food and beverage, retail, beauty, and services.

Flatiron HealthHealthcare Digital

Flatiron Health is dedicated to reimagining the infrastructure of cancer care, providing solutions that enhance the experience of patients and improve outcomes through real-world evidence and data-driven insights.

UpstartFintech Payments

Upstart is the leading AI lending marketplace that connects consumers to banks and credit unions using artificial intelligence to deliver superior credit products.

VerkadaSecurity Cyber

Verkada is the market leader in cloud-based video security and access control, helping organizations centralize and scale their security with a software-first approach.

LookerEnterprise Software

Looker is a business intelligence platform that provides embedded analytics and data-driven insights powered by AI and cloud infrastructure.

ClayEnterprise Software

Clay is an AI-driven sales and marketing company that provides data enrichment, workflow automation, and AI tools to improve go-to-market efficiency.

Pomelo CareHealthcare Digital

Pomelo Care provides virtual care for women and children, focusing on maternity, pediatric, and midlife health. They offer evidence-based guidance and support through various stages of women's health, including fertility, prenatal, postpartum, and midlife care.

Prepared

Prepared is dedicated to equipping emergency response professionals with advanced technology to enhance public safety. Their platform provides data and tools designed to improve call-taking, dispatch, and overall emergency response efficiency, ensuring that communities receive timely assistance in critical situations.

K2Developer Tools Infra

K2 Space is a pioneering company specializing in the development of high-power satellite platforms designed to enhance orbital infrastructure. By focusing on building larger satellites in-house, K2 Space aims to deliver unmatched performance and reliability at a lower cost, enabling new scientific missions and advanced communication capabilities.

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Research briefRead more
First Round Capital Research Investment Thesis First Round Capital operates as an exclusively early-stage venture capital firm focused on founders at the very beginning of company creation—often when they have only an "imagine if" vision. Backed by 20+ years of experience investing at the seed stage, the firm believes that "beginnings matter" and has built their entire practice around supporting p

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