New Enterprise Associates (NEA) — 2025 Investments

PayPal Ads is an advertising business that uses transaction data from PayPal's payment network to offer targeted onsite, offsite, and offer-based ads for businesses.

AdTechFintechMarketing TechSan Jose, US

MLMax Levchin(Founder)inPTPeter Thiel(Founder)inLNLuke Nosek(Founder)inKHKen Howery(Founder)inEMElon Musk(Founder)inACAlex Chriss(President and Chief Executive Officer)in

Co-investorsA*A*BLBlueRun VenturesCLClearstone Venture PartnersDGDG Daiwa VenturesMEMercury FundPLPlug and Play Ventures+6 more

Flox provides tooling to manage software and its dependencies down to individual packages, including SBOMs and provenance, with reproducible environments that work across the software lifecycle.

AI & Machine LearningCloud ComputingCybersecurityDeveloper ToolsEnterprise SoftwareNew York City, US

RERon Efroni Rotman(Executive Officer, Director)MBMichael Brantley(CTO)inRERon Efroni(CEO)inBFBen Futoriansky(Executive Officer)in

BoardPLPavel Livshiz(Director)in

Board seatAJAaron Jacobson· per SEC Form D

Co-investorsHEHetz VenturesANAngel Collective Opportunity FundESEssence Venture CapitalFIFirestreak VenturesMAMaximilian StoiberTITilia Impact Ventures+6 more

SetPoint Medical develops an FDA-approved implantable neurostimulation device that stimulates the vagus nerve to reduce inflammation, offering a device-based treatment for adults with moderate-to-severe rheumatoid arthritis who have not responded to biologic or targeted synthetic drugs.

BiotechHealthtechMedical DevicesValencia, US

MSMurthy Simhambhatla(CEO)inDCDavid Chernoff(Chief Medical Officer (MD))YLYaakov Levine(PhD)inRSRohan Seth(Executive Officer)inKevin Tracey(Founder)

Board seatBWBlake Wu· per SEC Form D

Co-investorsALAlly Bridge GroupNONorwest Venture PartnersTOTopspin PartnersASAsahi Kasei Corporate Venture CapitalCACatalio Capital Management, LPCICitta Capital+8 more

Synthesia is an AI video platform that lets businesses generate videos with AI avatars and agents, aimed at helping organizations train, onboard, and upskill employees.

AI & Machine LearningEnterprise SoftwareMarketing TechSaaSLondon, GB

VRVictor Riparbelli(Founder)inSTSteffen Tjerrild(Founder)inLALourdes Agapito(Founder)inMNMatthias Niessner(Founder)in

Co-investorsACAccelAIAir Street CapitalFIFirstMark CapitalGVGV (Google Ventures)KLKleiner PerkinsMMMMC Ventures+18 more

Aigen builds solar-powered autonomous field robots ("Element") that use AI vision to identify and mechanically remove weeds without chemicals.

AgTechAI & Machine LearningRoboticsSeattle, US

RWRichard Wurden(Co-founder & CTO)inKLKenny Lee(Co-founder & CEO)inRWRichard W.(Founder)inYuri BrigànceinRich Wurden(Founder)Rich Wurden Kenny Lee(Founder)

Board seatASAndrew Schoen· per SEC Form D

Co-investorsCLCLAI VenturesCLCleveland AvenueINIndustrious VenturesNENextwave [X] PartnersAGAgFunderGLGlobal Founders Capital+2 more

Belong Health provides a full-stack health plan operating platform and partnership model that helps organizations design and run health plans, sharing the risk of launching and building them.

Digital HealthHealthtechInsurTechSaaSRadnor, US

Douglas Duane Byrd(Executive Officer)

Board seatMohamad Makhzoumi· per SEC Form D

Co-investorsALAlumni VenturesBABascom VenturesBLBlue Venture FundsMAMaverick VenturesMAMaverick Ventures IsraelSASandbox Industries

Datafold builds AI-powered agents and tools that automate complex data engineering tasks including migrations, optimization, CI/CD, and data quality validation.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSNew York City, US

GMGleb Mezhanskiy(Founder)inAMAlex Morozov(Founder)inLisa Mezhanskaia(Senior Operations Manager)Tina Perkins(Recruiter)Steven Avella(Recruiter)Becky Lee-Roche(Head of Recruiting)

Board seatAJAaron Jacobson· per SEC Form D

Co-investorsAMAmplify PartnersANAngel Collective Opportunity FundAVAvant LabsBTBT Growth CapitalGOGood News VenturesHUHustle Fund+6 more

Fabric8Labs develops Electrochemical Additive Manufacturing (ECAM), a room-temperature metal 3D printing technology that produces dense, high-purity metal parts with micron-scale resolution and no post-processing.

Advanced ManufacturingDeep TechHardwareSemiconductorsSan Diego, US

Jeffrey Herman(Executive Officer, Director)DPDavid Pain(Founder)inDavid Wirth(Founder)Jeff Herman(Founder)

BoardCVCyril Vancura(Director)in

Board seatGPGreg Papadopoulos· per SEC Form D

Co-investorsINIntel CapitalLALam CapitalMAMarunouchi Innovation PartnersSESE VenturesTDTDK VenturesEREricsson Ventures+7 more

Horizon3.ai builds cybersecurity products and solutions.

AI & Machine LearningCybersecurityEnterprise SoftwareSan Francisco, US

SASnehal Antani(Founder)inMatthew HartleyinAPAnthony Pillitiere(Founder)in

BoardIKIlya Kirnos(Director)inMRMichael Robinson(Director)in

Board seatLTLila Tretikov· per SEC Form D

Co-investorsACAcrew CapitalCRCraft VenturesNENewView CapitalNINightDragonQUQualcomm VenturesRARaptor Group+3 more

Pathos applies AI, biological modeling, and a large collection of multimodal oncology patient data to develop cancer drugs and accelerate clinical development.

AI & Machine LearningBiotechDigital HealthHealthtechChicago, US

ELEric Lefkofky(Executive Officer, Director)ELEric Lefkofsky(Co-founder)inRFRyan Fukushima(Co-founder)inAndrew Heinlein(Executive Officer)ADAlex Dolan(Executive Officer)inIHIker Huerga(Chief Executive Officer and Board Member)in

Board seatMohamad Makhzoumi· per SEC Form D

Co-investorsCOCota CapitalLILightbankLILingottoRERevolution

Toloka provides expertly curated training and evaluation data as a managed service for developing AI agents and large language models, covering agentic skills, AI safety, coding, reasoning, and multimodal generation.

AI & Machine LearningData & InfrastructureEnterprise SoftwareNewburyport, US

OMOlga Megorskaya(Founder & CEO)inYelena Darmon(Executive Officer)Anton Mityagin(Executive Officer)

BoardArkady Volozh(Director)Mikhail Parakhin(Director)

Board seatLTLila Tretikov· per SEC Form D · $90M raise · filed May 2025

Uniphore provides a Business AI Cloud platform that enables enterprises to build, deploy, and scale autonomous AI agents across operations with built-in governance, security, and sovereignty controls.

AI & Machine LearningEnterprise SoftwareSaaSPalo Alto, US

Ravi Saraogi(Founder)inUSUmesh Sachdev(Founder)inMSMegha Sharma(Executive Officer)inSandeep Pandit(Executive Officer)in

BoardRRRobert Rueckert(Director)inRanjith Menon(Director)

Board seatHKHilarie Koplow-McAdams· per SEC Form D

Co-investorsAVAvant LabsCHChiratae VenturesCICisco InvestmentsCXCXO FundIAIAN GroupIRIron Pillar+12 more

Vori Health is a nationwide specialty medical practice that treats back, neck, and joint pain using board-certified orthopedic specialists and integrated care teams.

Digital HealthHealthtechWellness & FitnessNashville, US

RGRyan Grant(Executive Officer, Director)MOMary O'Connor(Executive Officer, Director)inRARyan A. Grant, MD, MS, MBA, FAANS(Founder)in

BoardJSJane Suh(Director)in

Board seatMMMohamad MakhzoumiHCHui Cheng· per SEC Form D

Co-investorsALAlleyCorpASAscension VenturesBRBrightstone Venture CapitalECEcho Health VenturesGOGood FriendsINIntermountain Health+1 more

43 is an early-stage venture firm that invests up to $500k in founders and provides hands-on fundraising guidance, investor introductions, a 1:1 partner relationship, and access to a founder co-working space.

Sector Agnostic

Dustin Dolginow(Co-founder & Partner)in

Co-investorsATAtacama VenturesHVHV CapitalPOPositron VenturesWEWestBridge Capital

Healthcare technology company delivering real-world evidence for life sciences companies, payers, and regulators.

Data & InfrastructureDigital HealthHealthtechNew York, US

Sebastian G. Schneeweiss(Director)WGWilliam Geary(Director)inJeremy Rassen(Founder)KAKyle Armbrester(Chief Executive Officer)inSebastian Schneeweiss(Founder)

Co-investorsB B Capital GroupB4B4 CapitalBLBlue LionBLBlue Lion GlobalFLFlare Capital PartnersFOForesite Capital+8 more

A biotechnology company developing new therapies for patients with high unmet medical needs.

Biotech

Co-investorsDODolby Family VenturesLILifeSci Venture PartnersSOSofinnova VenturesTHThe W FundVIViking GlobalCOCommodore Capital+6 more

August builds an AI platform for law firms that turns repeatable legal tasks into reusable workflows, co-developed on a firm's own precedent, templates, and drafting standards to produce senior-lawyer-quality work product faster.

AI & Machine LearningLegalTechSaaS

Rutvik Rau(Founder)inJason Johnson(Founder)Joseph Parker(Founder)Thomas Bueler-Faudree(Founder)Yves Béhar(Founder)

Co-investorsPEPear VC6T6th Man VenturesAFAfore CapitalDRDragonflyMAMaveronSOSoGal Ventures

Aurelian builds software for Public Safety Answering Points (PSAPs) to help telecommunicators manage non-emergency calls more efficiently and stay focused on emergencies.

AI & Machine LearningEnterprise SoftwareGovTechSaaSSeattle, US

MKMax Keenan(Founder)inJLJames Liu(Founder)inAng HLAdam Hylton(Recruiter)Sandra Skvarkova(Recruiter)Trevor Shibley(Head of Engineering)

Co-investorsFUFUSEY Y CombinatorLILiquid VenturesPAPalm Drive Capital

BNTO operates a clothing and accessories rental subscription service that allows customers to select and rotate designer pieces monthly without committing to ownership.

B2B MarketplacesCircular EconomyConsumer

Co-investorsAIAI FundBABasis Set VenturesNONotable Capital

ALMA.AI provides fulfillment and supply chain technology for fashion brands and retailers, including a PLM platform for sourcing, design, product development, and production, plus tools that enable rental and resale from a single inventory pool.

Logistics & Supply ChainRetail TechSaaS

Co-investorsAIAI FundBABasis Set VenturesNONotable Capital

Chaos Inc. develops portable radar systems and unmanned aerial system (UAS) detection technology for defense applications, offering efficient multi-target tracking and rapid deployment capabilities.

Defense TechHardware

JTJohn Tenet(Founder)GHGavin Hood(Founder)inJohn T.(Founder)inBo Marr(Founder)Brett Cummings(Founder)

Co-investors8V8VCACAccelALAlpha Wave GlobalCUCubit CapitalHOHOF CapitalINInflection Ventures+10 more

Charm is a payments and savings app that enables users to send money across different platforms (Venmo, Cash App, Zelle) through a unified interface, with funds earning interest when held in the app.

ConsumerCrypto & Web3FintechSocialNew York City, US

GNGray Newfield(Founder)inNNNoah Newfield(Founder)inChristian Rocha(Founder)Toby Padilla(Founder)

Co-investorsPIPioneerY Y Combinator46468 CapitalCACavalry VenturesF-F-Prime CapitalFIFirestreak Ventures+7 more

Charm builds open-source tools and libraries for creating user interfaces and applications in the terminal, including command-line interface frameworks, markdown readers, and components for developers.

Developer Tools

Co-investorsBEBetaworksCACavalry VenturesFEFelix JahnGRGradient VenturesLOLowercarbon CapitalMOMotive Force+6 more

Charm.fi is a decentralized finance platform offering automated liquidity management vaults on Ethereum, letting users browse or create vaults for any token and build LP strategies to manage liquidity and earn yields.

Crypto & Web3Fintech

Co-investorsCOCoinbase VenturesCACavalry VenturesF-F-Prime CapitalFUFuel CapitalGRGradient VenturesKHKhosla Ventures+2 more

Clarify builds a modern CRM platform that consolidates customer data from multiple sources, automates workflows, and provides insights to drive business growth.

AI & Machine LearningEnterprise SoftwareSaaSSales TechDover, US

PTPatrick Thompson(Founder)inOHOndrej Hrebicek(Founder)inAHAustin Hay(Founder)inPPPranav Priyush(CEO)

BoardMGMatt Garratt(Director)inZBZachary Bratun-Glennon(Director)in

Co-investorsASAscend Venture CapitalESEssence Venture CapitalFIFikaGRGradient VenturesINInvariantes FundMAMadrona Venture Group+6 more

Clio provides cloud-based legal practice management software and client communication tools for law firms to streamline operations and improve client service.

AI & Machine LearningCloud ComputingLegalTechSaaSVancouver, CA

JNJack Newton(Founder)inRGRian Gauvreau(Founder)Sergey Konchakovskiy(Director, Chief Executive Officer)Ryan Wong(Founder)

BoardJulian Steinberg(Director)John Bush(Director)

Co-investorsACActon CapitalBEBessemer Venture PartnersCACapitalGINIntrepid Growth PartnersJMJMI EquityPOPoint Nine+8 more

Generative AI search engine for discovering and evaluating novel materials with specific properties for energy and technology applications.

Co-investorsFJFJ LabsGIGiant Ventures Global LlpHOHoxton VenturesKLKleiner PerkinsLILightspeed Venture PartnersNONorthzone+4 more

DJUST provides a B2B digital commerce platform that helps large companies build and run their B2B commerce operations.

AI & Machine LearningE-commerceEnterprise SoftwareSaaS

ADAlexis Delplanque(Founder)inARArnaud Rihiant(Founder)inEric Gaudin(Founder)

Co-investorsELElaiaSPSpeedinvestNANauta CapitalOPOpera Tech Ventures

Fastino is an applied research lab developing specialized small language models and APIs for structured data extraction, classification, reasoning, and production AI workflows.

AI & Machine LearningData & InfrastructureDeveloper ToolsPalo Alto, US

Ashley Lewis(Executive Officer, Director)ALAsh Lewis(Founder)inGHGeorge Hurn-Maloney(Founder)in

BoardGMGeorge Mathew(Director)in

Co-investorsDEDeepwater Asset ManagementLOLoup VenturesM1M12 (Microsoft's Venture Fund)DRDropbox VenturesINInsight PartnersKHKhosla Ventures+1 more

Glacier develops AI-powered robotic systems for material recovery facilities (MRFs) to improve recycling sorting and material quality.

AI & Machine LearningCircular EconomyRoboticsSan Francisco, US

RHRebecca Hu-Thrams(Founder)inAMAreeb Malik(Founder)inRebecca Hu(Founder)

Co-investorsALAlleyCorpALAlumni VenturesASAsymmetric Capital PartnersECEcosystem Integrity FundJEJetstreamOVOverlap Holdings+9 more

H2Corporation develops AI-based construction estimation (AI積算) software for general contractors and subcontractors, using computer vision to automate quantity takeoff and improve efficiency of construction workflows.

AI & Machine LearningConstruction TechSaaS

川嶋 啓嗣(CEO)グエン・トゥン(CTO・CDO)

Co-investorsMEMetaProp VenturesSPSpiral CapitalJAJAFCO GroupMEMetaPropONOne Capital

Instabase provides an AI platform that transforms unstructured documents into reliable, auditable data for organizations to automate mission-critical business processes.

AI & Machine LearningData & InfrastructureEnterprise SoftwareSan Francisco, US

ABAnant Bhardwaj(Founder)inADAshish Dahiya(Chief Operating Officer)inOPOmkar Pendse(Chief Product and Technology Officer)inOOOzge Ozcan(Chief Customer Officer)inVJVarun Jain(Product Management lead (Bengaluru); previously Co-Founder at Zoomtail Technologies)inDavid Lluncor(Head of Automation and Productivity)in

Co-investorsANAndreessen HorowitzGLGlynn Capital ManagementGRGreylock PartnersINIndex VenturesOROriginal CapitalSCSC Ventures+7 more

Kaizen provides a platform for defining and executing browser automations by writing workflows in plain English, targeting enterprise customers across healthcare, logistics, fintech, and procurement sectors who need to automate interactions with portal-based systems and processes.

AI & Machine LearningEnterprise SoftwareSan Francisco, US

KAKenneth Acquah(CTO)inMSMichael Silver(CEO)inKJ Shah(Founder)NRNikhil Reddy(Founder)inElizabeth Rezabek(Operations)

Co-investorsY Y CombinatorACAccelANAndreessen HorowitzCACarpenter CapitalINInnovation EndeavorsLILiquid Ventures+2 more

lizzyAI automates large-scale candidate screening, running structured interviews to produce data-backed shortlists for hiring teams and recruitment clients.

AI & Machine LearningHR TechSaaS

YNYannis Niebelschuetz(Founder)inSMShai Meital(Founder)in

Co-investorsANAngel InvestHEHeartfelt CapitalZEZero Prime VenturesDAData Community FundSPSpeedinvest

NG Cash is a Brazilian payment institution authorized by the Central Bank that operates as an electronic money issuer and provides banking correspondent services for bill payments, utilities, taxes, and credit products.

Fintech

MAMario Augusto Sá(Founder)inPBPetrus Ballhausen Arruda(Founder)inANAntônio Nakad(Founder)inVTVictor Trindade(Founder)inLuis Sao Thiago de Carvalho(Director)Rodin Spielmann de Sa(Director)

Co-investors1717Sigma4M4M HoldingANAndreessen HorowitzDADaphniLALatitud VenturesMOMONASHEES+5 more

Orbis Medicines is a drug discovery company developing orally bioavailable macrocycle drug candidates as alternatives to injectable biologics, targeting both intracellular and extracellular protein targets.

AI & Machine LearningBiotechDeep Tech

Co-investorsFOForbionLILilly VenturesNONovo Holdings

Ouro Medicines is a biotechnology company developing cell-depleting therapies aimed at resetting the immune system to treat chronic immune-mediated diseases such as autoimmune and autoinflammatory conditions.

BiotechHealthtechSouth San Francisco, US

Jaideep(Founding Chief Executive Officer)NMNeely Mozaffarian(Chief Medical Officer)inCChristina(General Counsel & Chief Operating Officer)

Co-investorsMOMonograph Capital PartnersNONorwest Venture PartnersTPTPG

Pantheon provides a platform that applies DevOps principles to web applications, enabling digital marketing teams and developers to accelerate the development, testing, and deployment of website changes.

Cloud ComputingDeveloper ToolsEnterprise SoftwareMarketing TechSaaS

Josh Koenig(Founder)in

Co-investorsBABaseline VenturesFIFirst Round CapitalFLFloodgateFOFounder CollectiveFOFoundryHEHeavybit+4 more

Popai builds patient context from everyday care-team conversations (by phone, text, or in person), auto-documenting interactions into compliant notes and surfacing risks, care gaps, and outreach priorities.

AI & Machine LearningDigital HealthHealthtech

Co-investorsTETeam8

QuoteWell is a tech-enabled insurance wholesaler that helps agencies place Builder's Risk and other construction-related coverage, offering online quoting and submission workflows plus a "Human+" support model.

AI & Machine LearningConstruction TechFintechInsurTechSaaSAustin, US

JBJoey Bouchard(Founder)in

Co-investorsFLFloating PointOCOctaveBRBrand Foundry VenturesCLClocktower VenturesGOGoldcrest Capital

Sakana AI develops frontier AI research and products, including large language models, multi-agent orchestration systems, and AI solutions tailored for Japanese enterprises and public sector organizations.

AI & Machine LearningCloud ComputingDeep TechDefense TechTokyo, JP

DHDavid Ha(Founder)inRIRen Ito(Founder)inLJLlion Jones(Founder)in

Co-investorsBABasis Set VenturesGLGlobal BrainINIn-Q-Tel50500 GlobalFUFujitsu VenturesGEGeodesic Capital+20 more

Samaya AI develops Expert AI Agents that process real-time information from global financial markets to support investment decision making.

AI & Machine LearningEnterprise SoftwareFintechMountain View, US

MRMaithra Raghu(Founder)in

Co-investorsAIAir Street CapitalALAlumni VenturesNVNVIDIASHSherpalo VenturesBOBoom CapitalBOBoom Capital Ventures+1 more

Sourcery provides automated code review and security scanning tools that integrate with developer workflows to catch vulnerabilities, logic errors, and security gaps in code from initial writing through merge.

AI & Machine LearningCybersecurityDeveloper ToolsLondon, GB

Co-investorsMOMolten VenturesRURuna CapitalTETechstarsABAbstract VenturesACAcequia Capital OriginANAngel Invest+5 more

Tailor Bio develops targeted cancer therapies for tumors characterized by chromosomal instability, working in the field of precision oncology.

BiotechHealthtech

Co-investorsFIFirst In VenturesJIJIC Venture Growth InvestmentsANANRISPSpiral CapitalY Y Combinator

Translucent is an agentic AI platform for healthcare finance and clinical operators that unifies data across claims, labor, clinical output, P&L, budgets, and contract economics.

AI & Machine LearningFintechHealthtech

MJMax Jones(Head of Operations & Co-Founder)inJOJack O'Hara(CEO & Founder)inMichael Wood(Founder)in

Co-investorsGVGV (Google Ventures)RERedesign HealthVIVirtue VenturesFPFPVLALatitud Ventures

Unbound builds security infrastructure to govern AI coding agents in enterprise environments.

AI & Machine LearningCybersecurityDeveloper ToolsEnterprise SoftwareSan Francisco, US

RSRajaram Srinivasan(CEO)inVSVignesh Subbiah(CTO)inRRajin

Co-investorsEIEight CapitalEVEvolution Equity PartnersNONorthside VenturesPIPioneerTRTranspose Platform ManagementVOVorwerk Ventures+13 more

Yard.bot provides recurring residential lawn care using robotic mowers overseen by human staff, offering mowing, trimming, edging, and clipping cleanup on a scheduled basis.

AgTechConsumerRoboticsTanner, US

DTDivya Thakur(Founder)in

Co-investorsHAHalogen Ventures Management Company Llc8V8VCB3B37 VenturesBEBenchmarkGOGOOSE CapitalINInterwoven Ventures+3 more

Zania builds AI-driven governance, risk, and compliance (GRC) and security software.

AI & Machine LearningCybersecurityEnterprise SoftwareSaaSPalo Alto, US

SGShruti Gupta(Founder & CEO)in

Co-investorsA'A'Z AngelsGAGaingelsPAPalm Drive Capital

Plaid (プレイド) is a Japanese technology company that builds products using data and technology to make large-scale, complex unstructured data intuitively usable by people.

AI & Machine LearningData & InfrastructureEnterprise SoftwareMarketing TechSaaSTokyo, JP

KKKenta Kurahashi(Representative (CEO))

Co-investorsFEFemto PartnersSMSMBC Venture CapitalBLBlackRockFRFranklin TempletonRIRibbit Capital