Angel investor · San Francisco, United States
Recorded investments.
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of dated first investments
were at Angel, Pre-Seed or Seed
One dot = one company at first recorded investment.
Written insights from the recorded portfolio, with the evidence linked below.
Max Levchin has dated investments in 50 companies. 21 first entries were at Angel, Pre-Seed or Seed (42.0%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.
Explore the evidence ↗2 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2024-08-28. This describes observed activity through 2026-05-22; it does not establish current availability.
Explore the evidence ↗33 of 48 companies with a full 24-month observation window raised another equity round. This investor backed 3 of those companies again within that window. The difference is a reason to research the wider syndicate, rather than assume the same investor will fund the next round.
Explore the evidence ↗FinTech is the largest displayed sector by company count, appearing in 22 portfolio companies; sector tags overlap. 7 first entries carry a recorded lead flag and the median first-round syndicate includes 6 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.
Explore the evidence ↗Start with observed behavior.
Every rate has a defined denominator.
25th–75th percentile across 49 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.
Size your round ↗22 May 2024–22 May 2026, versus 1 in the preceding 24 months.
See the rhythm ↗33 of 48 companies with a full observation window. The next round can include any investor.
Follow the path ↗3 of the same 48 companies. Build a financing plan around the wider investor market.
Explore co-investors ↗Choose your sector and stage to find
companies he first backed in that space.
A match means a recorded investment in this category. It does not establish current interest or availability.
All sectors · All entry stages. Round amounts are total financing, in USD.
Developer of conversational artificial intelligence platform for enterprise phone call automation
$16M total first roundDeveloper of products and services
$60M total first round| Sector | Angel | Seed | Series A | All stages |
|---|---|---|---|---|
| FinTech | 22 | |||
| B2C E-Commerce | 8 | |||
| Banking Tech | 7 | |||
| Payments | 6 | |||
| CFO Stack | 6 | |||
| HealthTech | 5 | |||
| Finance & Accounting Tech | 5 |
Use stage-specific financing ranges
to frame the size of your syndicate.
Logarithmic scale. A dot marks the median; the band spans the 25th–75th percentiles. These are entire rounds, not individual cheques.
A subsequent round and repeat backing
answer different fundraising questions.
Includes first investments on or before 22 May 2024. 2 newer companies and 1 undated histories are excluded. Follow-up stops at the dataset’s latest round on 22 May 2026. These observations do not measure returns or predict a company’s outcome.
| First stage | Eligible companies | Next round ≤24 mo | Same investor again ≤24 mo |
|---|---|---|---|
| Angel | 3 | 2 / 3 | 1 / 3 |
| Seed | 18 | 15 / 18 | 1 / 18 |
| Series A | 20 | 13 / 20 | 1 / 20 |
| Series B | 6 | 2 / 6 | 0 / 6 |
| Series C | 1 | 1 / 1 | 0 / 1 |
Separate first investments from later
rounds in companies already backed.
*2026 is partial, through 22 May. Bar height counts first investments + repeat rounds; earlier years are complete calendar periods in this dataset.
Frequent shared rounds suggest a place
to investigate sector and stage alignment.
14 shared rounds · 14 companies
Latest shared round Nov 202312 shared rounds · 11 companies
Latest shared round Nov 20239 shared rounds · 9 companies
Latest shared round Nov 20238 shared rounds · 8 companies
Latest shared round Aug 20246 shared rounds · 6 companies
Latest shared round May 20215 shared rounds · 5 companies
Latest shared round Feb 2022Shared rounds establish recorded co-investment. They do not establish a personal connection, introduction route, or current willingness to invest.
First investment comes first.
Amounts refer to that entry round.
| Company | First backed | Entry stage | Total entry round | Same investor again? |
|---|---|---|---|---|
Bland ↗San Francisco | Aug 2024 | Series A | $16M | No later round recorded |
| Aug 2024 | Series A | $16M | No later round recorded | |
Black Ore ↗Austin | Nov 2023 | Seed | $60M | No later round recorded |
With Studios ↗Charlotte | Feb 2022 | Series A | $28M | No later round recorded |
Compound ↗San Francisco | Jan 2022 | Series B | $25M | No later round recorded |
Pomelo ↗Buenos Aires | Oct 2021 | Series A | $35M | No later round recorded |
Coast ↗New York City | Jul 2021 | Seed | $6.0M | No later round recorded |
Polywork ↗New York City | May 2021 | Seed | $3.5M | No later round recorded |
Balance ↗San Francisco | Feb 2021 | Seed | $5.5M | No later round recorded |
X1 Card ↗United States | Jan 2021 | Series A | $12M | No later round recorded |
Pace ↗California City | Jan 2021 | Seed | $1.9M | No later round recorded |
Synctera ↗San Francisco | Dec 2020 | Seed | $14M | No later round recorded |
AgentSync ↗Denver | Aug 2020 | Seed | $4.4M | No later round recorded |
Whatifi ↗Wellesley | Jun 2020 | Series A | $10M | No later round recorded |
Workstream ↗San Francisco | May 2020 | Series A | $10M | No later round recorded |
HM Bradley ↗Los Angeles | Apr 2019 | Seed | $3.5M | No later round recorded |
SentiLink ↗San Francisco | Dec 2018 | Series A | $15M | No later round recorded |
PlanetScale ↗Mountain View | Dec 2018 | Seed | $3.0M | No later round recorded |
Divvy ↗Lehi | Oct 2018 | Series B | $30M | No later round recorded |
Divvy ↗San Francisco | Oct 2018 | Series A | $30M | Yes · Sep 2019 |
Very Good Security ↗San Francisco | Aug 2018 | Series A | $8.5M | No later round recorded |
Loft ↗Sao Paulo | Jul 2018 | Series A | $18M | No later round recorded |
Hipcamp ↗San Francisco | Jun 2018 | Series A | $9.5M | No later round recorded |
Anchorage Digital ↗San Francisco | Jun 2018 | Series A | $17M | No later round recorded |
Brex ↗Draper | Mar 2018 | Series B | $50M | No later round recorded |
Reverb ↗Chicago | Aug 2017 | Series B | $15M | No later round recorded |
OfferUp ↗Bellevue | Nov 2016 | Angel | $11M | No later round recorded |
Clear ↗Bengaluru | Apr 2016 | Seed | $1.3M | No later round recorded |
Elemental Machines ↗Cambridge | Jan 2016 | Seed | $2.5M | No later round recorded |
Marqeta ↗Oakland | Oct 2015 | Series C | $25M | No later round recorded |
Color ↗Burlingame | Apr 2015 | Series A | $15M | No later round recorded |
Breezeworks ↗San Francisco | Nov 2014 | Series A | $5.1M | No later round recorded |
Leeo ↗Palo Alto | Sep 2014 | Series A | $37M | No later round recorded |
TrueAccord ↗Lenexa | Sep 2014 | Series A | $5.0M | No later round recorded |
Opendoor ↗Tempe | Sep 2014 | Series A | $10M | No later round recorded |
Xapo Bank ↗Gibraltar | Jul 2014 | Series A | $20M | No later round recorded |
SolveBio ↗New York City | May 2014 | Seed | $2.0M | No later round recorded |
Delectable ↗San Diego | May 2014 | Series A | $3.0M | No later round recorded |
Emerald Therapeutics ↗San Francisco | Feb 2014 | Series B | $14M | No later round recorded |
Celery ↗San Francisco | Feb 2014 | Seed | $2.0M | No later round recorded |
Homeaglow ↗San Francisco | Dec 2013 | Series B | $38M | No later round recorded |
Zendrive ↗San Francisco | Aug 2013 | Seed | $1.5M | No later round recorded |
Vurb ↗San Francisco | Feb 2013 | Seed | Undisclosed | No later round recorded |
Nuzzel ↗San Francisco | Nov 2012 | Seed | $1.7M | No later round recorded |
SingleStore ↗San Francisco | Jun 2012 | Series A | $3.0M | No later round recorded |
Wise ↗Shoreditch | Jan 2012 | Seed | $1.3M | Yes · Jan 2013 |
Getable ↗San Francisco | Aug 2011 | Seed | $1.4M | No later round recorded |
Mixpanel ↗San Francisco | Feb 2010 | Angel | $500K | Yes · May 2011 |
WePay ↗Palo Alto | Nov 2009 | Series A | $1.8M | No later round recorded |
Yelp ↗San Francisco | Jun 2004 | Angel | $1.0M | No later round recorded |
No companies match these filters. Try a broader sector or stage.
Kept in the 51-company portfolio; excluded from entry-timing calculations.
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