INVESTOR NOTES / 001ANGEL INVESTOR / San Francisco, United States
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · San Francisco, United States

Paul Buchheit.

Recorded investments.
A clearer sense of fit.

Find where your company fits, how rounds are assembled, and what happened after the first investment.

THE ENTRY PATTERN2006–2026
70%

of dated first investments
were at Angel, Pre-Seed or Seed

First investment stage across 118 companies78 Seed, 5 Angel and 35 other-stage entries. Each dot represents one company.
Seed 78Angel 5Other 35

One dot = one company at first recorded investment.

122 companies · 128 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 27 Jul 2023
THE FOUNDER’S BRIEF

Read the pattern before the pitch.

Written insights from the recorded portfolio, with the evidence linked below.

01

Start with the first entry

Paul Buchheit has dated investments in 118 companies. 83 first entries were at Angel, Pre-Seed or Seed (70.3%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.

Explore the evidence ↗
02

Separate activity from reputation

0 first company relationships appear in the latest 24 months, compared with 3 in the preceding window. The latest recorded investment is 2023-07-27. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

50 of 118 companies with a full 24-month observation window raised another equity round. This investor backed 5 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 ↗
04

Use a specific point of relevance

B2C E-Commerce is the largest displayed sector by company count, appearing in 21 portfolio companies; sector tags overlap. 5 first entries carry a recorded lead flag and the median first-round syndicate includes 7 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.

Explore the evidence ↗
01 / THE READOUT

Four signals before you pitch.

Start with observed behavior.
Every rate has a defined denominator.

01 — ROUND CONTEXT
$1.5M–$4.2M

The middle half of entry rounds

25th–75th percentile across 105 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
0companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 3 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
42%

Another equity round within 24 months

50 of 118 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
4%

This investor invested again within 24 months

5 of the same 118 companies. Build a financing plan around the wider investor market.

Explore co-investors ↗
02 / FIND YOUR FIT

Where does your company sit?

Choose your sector and stage to find
companies he first backed in that space.

YOUR COMPANY

A match means a recorded investment in this category. It does not establish current interest or availability.

118matching companies
$2.4Mmedian first round (105 disclosed)
0first backed in last 24 months

All sectors · All entry stages. Round amounts are total financing, in USD.

Series C

Bright ↗

Offers solar as a service

$36M total first round
Seed

SiPhox Health ↗

Provider of comprehensive at-home blood testing kits

$13M total first round
Series B

Let’s Do This ↗

Provider of a booking platform for multiple sports activities

$60M total first round
Explore matching portfolio companies ↓

The sector × stage map

First investments · companies can appear in more than one sector
Number of first investments by sector and entry stage. Select a cell to explore companies.
SectorAngelSeedSeries AAll stages
B2C E-Commerce21
HealthTech12
MarketingTech11
Gig Employers9
FinTech7
EdTech6
Online Rental6
03 / ROUND DESIGN

The round around the investor.

Use stage-specific financing ranges
to frame the size of your syndicate.

First-round size, by entry stage

USD · middle 50% and median
Angel3 disclosed
$1.2M$650K–$1.9M
Seed71 disclosed
$2.0M$1.4M–$2.8M
Series A21 disclosed
$4.0M$3.0M–$5.9M
$10K$100K$1M$10M

Logarithmic scale. A dot marks the median; the band spans the 25th–75th percentiles. These are entire rounds, not individual cheques.

04 / WHAT HAPPENS NEXT

One investment. Two different paths.

A subsequent round and repeat backing
answer different fundraising questions.

118
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
42.4%
50 of 118 companies

Backed again by this investor

A subset of the companies above
4.2%
5 of 118 companies
i

Includes first investments on or before 22 May 2024. 0 newer companies and 4 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.

See the stage-by-stage denominators +
First stageEligible companiesNext round ≤24 moSame investor again ≤24 mo
Angel52 / 50 / 5
Seed7833 / 784 / 78
Series A2513 / 251 / 25
Series B71 / 70 / 7
Series C31 / 30 / 3
05 / INVESTMENT RHYTHM

New names. Returning relationships.

Separate first investments from later
rounds in companies already backed.

New companiesRepeat rounds

*2026 is partial, through 22 May. Bar height counts first investments + repeat rounds; earlier years are complete calendar periods in this dataset.

06 / THE CO-INVESTOR MAP

Who else belongs on your research list?

Frequent shared rounds suggest a place
to investigate sector and stage alignment.

01
FIRM

Y Combinator

58 shared rounds · 56 companies

Latest shared round Jul 2023
02
FIRM

SV Angel

33 shared rounds · 32 companies

Latest shared round Oct 2019
03
FIRM

a16z

12 shared rounds · 11 companies

Latest shared round Oct 2014
04
FIRM

Soma Capital

11 shared rounds · 10 companies

Latest shared round Jan 2022
06
ANGEL

Sam Altman ↗

10 shared rounds · 10 companies

Latest shared round Oct 2018

Shared rounds establish recorded co-investment. They do not establish a personal connection, introduction route, or current willingness to invest.

07 / THE EVIDENCE

Explore the portfolio.

First investment comes first.
Amounts refer to that entry round.

118 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Bright ↗Mexico City
Jul 2023Series C$36MNo later round recorded
Jan 2023Seed$13MNo later round recorded
Jun 2022Series B$60MNo later round recorded
dNovo ↗San Francisco
Jan 2022Seed$2.7MNo later round recorded
Casetext ↗San Francisco
Jan 2022Series C$25MNo later round recorded
Platzi ↗San Francisco
Dec 2021Series B$62MNo later round recorded
Jun 2020Seed$1.6MNo later round recorded
Mar 2020Series AUndisclosedNo later round recorded
Feb 2020Seed$3.2MNo later round recorded
Rune ↗New York City
Oct 2019Seed$2.0MNo later round recorded
Oct 2019Seed$3.0MNo later round recorded
Nowports ↗Monterrey
Jun 2019Seed$8.5MNo later round recorded
Abacus.AI ↗San Francisco
Jun 2019Seed$5.3MNo later round recorded
Jun 2019Seed$5.8MNo later round recorded
Jun 2019Series A$5.0MNo later round recorded
Paladin Drones ↗Mountain View
May 2019Seed$1.3MNo later round recorded
Nabis ↗Oakland
Mar 2019Series A$4.0MYes · Oct 2020
Titan ↗New York City
Oct 2018Seed$2.5MNo later round recorded
Gusto ↗San Francisco
Jul 2018Series C$145MNo later round recorded
Jul 2018Seed$2.3MNo later round recorded
Universe ↗Brooklyn
Jun 2018Series A$4.0MNo later round recorded
Veriff ↗Tallinn
Jun 2018Series A$7.7MNo later round recorded
Ambition ↗Chattanooga
Jun 2018Series A$5.9MNo later round recorded
CoinTracker ↗San Francisco
Apr 2018Seed$1.5MNo later round recorded
BloomTech ↗San Francisco
Jan 2018Seed$4.0MNo later round recorded
Nov 2017Series AUndisclosedNo later round recorded
Nov 2017Seed$1.5MNo later round recorded
Lively ↗San Francisco
Sep 2017Series A$4.2MNo later round recorded
lvl5 ↗Redwood City
Jul 2017Seed$2.0MNo later round recorded
theMednet ↗New York City
Jul 2017SeedUndisclosedNo later round recorded
HelloSign ↗San Francisco
Jun 2017Series B$16MNo later round recorded
May 2017Seed$1.5MNo later round recorded
Riley ↗New York City
Apr 2017Series A$3.1MNo later round recorded
Jan 2017Series A$1.5MNo later round recorded
Dec 2016Series B$28MNo later round recorded
Drivezy ↗Bengaluru
Nov 2016Seed$3.0MYes · Oct 2017
Tovala ↗Chicago
Oct 2016Seed$1.6MNo later round recorded
Apr 2016Angel$2.5MNo later round recorded
Mar 2016Series B$25MNo later round recorded
Human Interest ↗San Francisco
Feb 2016Seed$3.5MNo later round recorded
Vive ↗New York City
Feb 2016Seed$2.3MNo later round recorded
Circle Medical ↗San Francisco
Nov 2015Seed$2.9MNo later round recorded
Triplebyte ↗San Francisco
Sep 2015Seed$3.0MNo later round recorded
Lugg ↗San Francisco
Aug 2015Seed$3.8MNo later round recorded
Pachyderm ↗San Francisco
Jun 2015Seed$2.0MNo later round recorded
Golookup ↗Wilmington
Jun 2015AngelUndisclosedNo later round recorded
Taplytics ↗Palo Alto
May 2015Seed$2.4MNo later round recorded
Cleanly ↗New York City
May 2015Seed$2.3MNo later round recorded
Picnic ↗San Francisco
Apr 2015Seed$2.0MNo later round recorded
Vizera ↗San Francisco
Feb 2015SeedUndisclosedNo later round recorded
Feb 2015Series A$8.5MNo later round recorded
Fixed ↗San Francisco
Feb 2015Seed$650KYes · Feb 2015
Pushbullet ↗San Francisco
Jan 2015Seed$1.5MNo later round recorded
Framed ↗San Francisco
Dec 2014Seed$2.0MNo later round recorded
Parenthoods ↗San Francisco
Nov 2014Seed$1.3MNo later round recorded
Oct 2014Series A$3.5MNo later round recorded
Checkr ↗San Francisco
Oct 2014Series A$9.0MNo later round recorded
Reddit ↗San Francisco
Oct 2014Series B$50MNo later round recorded
Reddit ↗San Francisco
Sep 2014Series B$50MNo later round recorded
Front ↗San Francisco
Sep 2014Seed$3.1MNo later round recorded
Rocketrip ↗New York City
Jul 2014Series A$3.0MNo later round recorded
Bellabeat ↗San Francisco
May 2014Seed$4.5MNo later round recorded
CareMessage ↗San Francisco
May 2014SeedUndisclosedNo later round recorded
TrueVault ↗Mountain View
Mar 2014Seed$2.5MNo later round recorded
Apportable ↗San Francisco
Feb 2014Series A$5.0MNo later round recorded
Lob ↗San Francisco
Nov 2013Seed$2.4MNo later round recorded
DoorDash ↗San Francisco
Sep 2013Seed$2.4MNo later round recorded
Swiftype ↗San Francisco
Aug 2013Seed$1.7MNo later round recorded
7 Cups ↗Redwood City
Aug 2013Seed$120KNo later round recorded
Le Tote ↗San Francisco
Jul 2013Seed$1.8MNo later round recorded
Instacart ↗San Francisco
Jul 2013Series A$8.7MNo later round recorded
Caviar ↗San Francisco
Jun 2013Seed$2.0MYes · Apr 2014
Namo Media ↗San Francisco
Mar 2013Seed$1.9MNo later round recorded
Virool ↗San Francisco
Feb 2013Seed$6.6MNo later round recorded
Jan 2013SeedUndisclosedNo later round recorded
Nov 2012Series AUndisclosedNo later round recorded
Clever ↗San Francisco
Oct 2012Seed$3.0MNo later round recorded
Oct 2012Seed$1.1MNo later round recorded
MyVR ↗San Francisco
Sep 2012Seed$1.4MYes · Dec 2017
Meteor ↗San Francisco
Jul 2012Series A$11MNo later round recorded
Citusdata ↗San Francisco
Jun 2012Seed$1.6MNo later round recorded
SingleStore ↗San Francisco
Jun 2012Series A$3.0MNo later round recorded
Exec ↗San Francisco
May 2012Seed$3.3MNo later round recorded
May 2012Seed$2.1MNo later round recorded
Couple ↗San Francisco
May 2012Seed$4.2MNo later round recorded
SocialCam ↗Santa Clara
Apr 2012AngelUndisclosedNo later round recorded
SendHub ↗Pleasanton
Apr 2012Seed$2.0MNo later round recorded
Vidyard ↗Kitchener
Nov 2011Seed$1.7MNo later round recorded
Nov 2011Seed$1.2MNo later round recorded
Sincerely ↗San Francisco
Oct 2011Series A$3.0MNo later round recorded
Tagstand ↗Palo Alto
Oct 2011Seed$1.1MNo later round recorded
ZeroCater ↗San Francisco
Aug 2011Seed$1.5MNo later round recorded
Livestar ↗New York City
Jun 2011Seed$2.0MNo later round recorded
Jun 2011SeedUndisclosedNo later round recorded
Mailgun ↗San Francisco
May 2011Seed$1.1MNo later round recorded
GOAT Group ↗Culver City
May 2011Seed$1.6MNo later round recorded
Goat ↗Los Angeles
May 2011Seed$1.6MNo later round recorded
Zaarly ↗San Francisco
Mar 2011Seed$1.0MNo later round recorded
1000Memories ↗San Francisco
Feb 2011Series A$2.5MNo later round recorded
Cue ↗San Francisco
Feb 2011Series A$4.0MNo later round recorded
Optimizely ↗San Francisco
Nov 2010Angel$1.2MNo later round recorded
Hipmunk ↗San Francisco
Oct 2010Seed$1.0MNo later round recorded
Opzi ↗Vancouver
Sep 2010Seed$1.0MNo later round recorded
Rapportive ↗San Francisco
Aug 2010Seed$1.0MNo later round recorded
Crocodoc ↗San Francisco
Jul 2010SeedUndisclosedNo later round recorded
Leftronic ↗San Francisco
Jun 2010Seed$500KNo later round recorded
Cardpool ↗San Francisco
Jun 2010Seed$125KNo later round recorded
Apr 2010Seed$630KNo later round recorded
Mar 2010Seed$120KNo later round recorded
WePay ↗Palo Alto
Nov 2009Series A$1.8MNo later round recorded
CarWoo ↗Burlingame
Jun 2009Seed$1.5MYes · Jan 2010
Heroku ↗San Francisco
Jun 2008Series AUndisclosedNo later round recorded
FriendFeed ↗Mountain View
Feb 2008Series A$5.0MNo later round recorded
Auctomatic ↗San Francisco
Jun 2007Seed$400KNo later round recorded
Weebly ↗United States
May 2007Seed$650KNo later round recorded
Parakey ↗Mountain View
Dec 2006Seed$2.0MNo later round recorded
Wufoo ↗San Mateo
Jul 2006Angel$100KNo later round recorded
Xobni ↗San Francisco
Jun 2006SeedUndisclosedNo later round recorded
4 more companies have undated investments

Kept in the 122-company portfolio; excluded from entry-timing calculations.

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