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.
Stewart Butterfield has dated investments in 19 companies. 3 first entries were at Angel, Pre-Seed or Seed (15.8%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.
Explore the evidence ↗3 first company relationships appear in the latest 24 months, compared with 4 in the preceding window. The latest recorded investment is 2025-10-28. This describes observed activity through 2026-05-22; it does not establish current availability.
Explore the evidence ↗5 of 16 companies with a full 24-month observation window raised another equity round. This investor backed 0 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 ↗Artificial Intelligence is the largest displayed sector by company count, appearing in 4 portfolio companies; sector tags overlap. 1 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 ↗Start with observed behavior.
Every rate has a defined denominator.
25th–75th percentile across 19 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.
Size your round ↗22 May 2024–22 May 2026, versus 4 in the preceding 24 months.
See the rhythm ↗5 of 16 companies with a full observation window. The next round can include any investor.
Follow the path ↗0 of the same 16 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 AI-powered system that manages business calls and texts
$20M total first roundDeveloper of an AI platform for building applications and websites
$200M total first roundProvider of financial products and services including credit cards, accounts, and investment options
$79M total first round| Sector | Seed | Series A | Series B | All stages |
|---|---|---|---|---|
| Artificial Intelligence | 4 | |||
| Application Development Tools | 3 | |||
| HRTech | 3 | |||
| MarketingTech | 3 | |||
| Native AI in Software Development | 2 | |||
| FinTech | 2 | |||
| Product Management Tools | 2 |
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. 3 newer companies and 0 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 |
|---|---|---|---|
| Seed | 3 | 0 / 3 | 0 / 3 |
| Series A | 8 | 1 / 8 | 0 / 8 |
| Series B | 3 | 3 / 3 | 0 / 3 |
| Series C | 2 | 1 / 2 | 0 / 2 |
| Series D | 0 | 0 / 0 | 0 / 0 |
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.
8 shared rounds · 8 companies
Latest shared round Jul 20253 shared rounds · 3 companies
Latest shared round Aug 20172 shared rounds · 2 companies
Latest shared round Jul 20252 shared rounds · 2 companies
Latest shared round Oct 2020Shared 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? |
|---|---|---|---|---|
Beside ↗Richmond | Oct 2025 | Series A | $20M | No later round recorded |
Lovable ↗Stockholm | Jul 2025 | Series A | $200M | No later round recorded |
Neo Financial ↗Calgary | Nov 2024 | Series D | $79M | No later round recorded |
Linear ↗San Francisco | Sep 2023 | Series B | $35M | No later round recorded |
ModernLoop ↗San Mateo | Aug 2022 | Series A | $9.0M | No later round recorded |
Venue ↗Toronto | Aug 2022 | Seed | $4.0M | No later round recorded |
Atreo ↗San Francisco | Jun 2022 | Series A | $4.0M | No later round recorded |
tvg hospitality ↗London | Feb 2022 | Series C | $50M | No later round recorded |
| Jan 2022 | Series A | $63M | No later round recorded | |
Unblocked ↗Vancouver | Jan 2022 | Seed | $83M | No later round recorded |
Humaans ↗London | Jun 2021 | Series A | $15M | No later round recorded |
1Password ↗Toronto | May 2021 | Series B | $100M | No later round recorded |
Balsa ↗San Francisco | Oct 2020 | Seed | $4.5M | No later round recorded |
Hero ↗New York City | Oct 2018 | Series A | $12M | No later round recorded |
Netlify ↗San Francisco | Oct 2018 | Series B | $30M | No later round recorded |
Carta ↗San Francisco | Aug 2017 | Series C | $42M | No later round recorded |
Cozy ↗San Francisco | Aug 2015 | Series A | $3.4M | No later round recorded |
Sprig ↗San Francisco | Apr 2015 | Series A | $45M | No later round recorded |
99designs ↗United States | Apr 2011 | Series A | $35M | No later round recorded |
No companies match these filters. Try a broader sector or stage.
Kept in the 19-company portfolio; excluded from entry-timing calculations.
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