About Backed
Backed is a venture capital firm founded in 2015. It is primarily based out of London, United Kingdom. As of May 2026, Backed is an active investor, having invested in 81 companies, with 7 new investments in the last 12 months. It primarily invests in Seed round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Blockchain Technology. Most recently it participated in the $***** Series A round of RUKA Overall, Backed portfolio has seen 3 unicorns and 16 acquisitions including key companies like Immutable, Verve and Hutch. A lot of funds co-invest with Backed, with names like Speedinvest sharing a substantial percentage of its portfolio. Backed has team of 10 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio Unicorns
Deals in last 12 months
Backed's List of Top Investments
Backed has a portfolio of 81 companies, including 3 unicorns. Their most notable investments are in Afrocenchix and Footium.Their portfolio spans across United Kingdom, United States, Netherlands and 13 more locations. They have invested in Enterprise Applications, High Tech, Blockchain Technology and 27 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Backed:_1583130731032.png?format=webp&height=120&width=120){kind=logo}
1. Immutable
Blockchain-based infrastructure for NFT games and applications. It specializes in developing core games such as cards, MMO, FPS, and more. It also provides an open-source platform for developers to create immutable assets such as cards, skins, weapons, and more. It provides a peer-to-peer marketplace for players where they can buy, sell and gift in-game items.
Key facts about Immutable
- Founded Year: 2018
- Location: Sydney (Australia)
- Annual Revenue: $10M - $50M as on Jun 30, 2022
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $277M
- Employee Count: 202 as on Jul 31, 2026
- Investors: Liberty Global, Princeville Capital and 57 Others
- Latest Funding Round: Series C, Mar 07, 2022, $*****
- Highlight: Editors' Pick
2. Verve
Provides a privacy first omni channel advertising platform. The platform allows users to capture real time customer location. It allows users to find customers shopping patterns and interests and categorize customers. It enables users to create a microsite and engage the audience by sending personalized ads. It allows users to measure and analyze campaign performance.
Key facts about Verve
- Founded Year: 2005
- Location: New York City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $263M
- Employee Count: 542 as on Jul 31, 2026
- Investors: Elderstreet Investments, De Anda Capital and 19 Others
- Latest Funding Round: Series E, Apr 21, 2022, $*****
- Highlight: Acquired
3. Hutch
Developer of mobile video games focused on automotive and racing genres. The company creates games for mobile platforms, offering experiences centered around cars. It delivers titles that allow players to engage with vehicles. The business aims to provide automotive entertainment to a global audience.
Key facts about Hutch
- Founded Year: 2011
- Location: London (United Kingdom)
- Annual Revenue: £10M - £50M as on Sep 30, 2019
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $5.5M
- Employee Count: 213 as on Jul 31, 2026
- Investors: Index Ventures, Initial Capital and 3 Others
- Latest Funding Round: Series A, Feb 02, 2017, $*****
- Highlight: Acquired
4. Medal
Developer of a platform for recording, editing, and sharing game clips. The platform allows users to capture gameplay with a button press and share instantly. It supports automatic clipping for various games and allows importing clips from console systems. The platform offers editing tools, multi-track audio balancing, and customizable clip lengths.
Key facts about Medal
- Founded Year: 2015
- Location: Naarden (Netherlands)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $89.3M
- Employee Count: 107 as on Jul 31, 2026
- Investors: PEAK6, Ridge Ventures and 19 Others
- Latest Funding Round: Series C, Jul 11, 2024, $*****
- Highlight: Editors' Pick
5. Sky Mavis
Developer of blockchain games and infrastructure for player-owned digital economies. The company builds virtual worlds and the infrastructure to support them. It offers a game featuring creatures, built to introduce blockchain technology. The company also provides a blockchain designed for developers creating games with player-owned economies. It provides tools for developers to build and scale blockchain-infused games.
Key facts about Sky Mavis
Backed's Year-on-Year Investment Trends
Backed has invested in 81 companies over the last 11 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 5 investments, while as of May 2026, it has made 5 investments in this year. Its most recent first time investment was in RUKA and most recent follow-on round was in Amenitiz.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 5 | 0 | 5 |
2025 | 4 | 1 | 5 |
2024 | 3 | 0 | 3 |
2023 | 4 | 0 | 4 |
2022 | 9 | 3 | 12 |
2021 | 10 | 3 | 13 |
2020 | 2 | 3 | 5 |
2019 | 4 | 1 | 5 |
2018 | 5 | 3 | 8 |
2017 | 2 | 1 | 3 |
Backed's Investments by Stage
Backed has made 33 investments in Seed stage with an average round size of $6.07M, 16 investments in Series A stage with an average round size of $14.7M, 2 investments in Series B stage with an average round size of $50M and 1 investment in Series C stage with an average round size of $18.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 33 |
Series A | 16 |
Series B | 2 |
Series C | 1 |
Note: We have considered here, only first round of investments
Backed's Investments by Sector
Backed has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, FinTech, Blockchain - Industry Applications and Blockchain Technology. Notably, it has invested in 73 Tech companies, 50 Enterprise (B2B) companies, 39 Software companies and at least 32 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 20 |
High Tech | 15 |
FinTech | 13 |
Blockchain - Industry Applications | 9 |
Blockchain Technology | 9 |
Others | 73 |
Note: We have considered here, only first round of investments
Backed's Investments by Geography
Backed has made most investments in United Kingdom (30), followed by United States where it has made 7 investments.Country | No. of Investments |
|---|---|
United Kingdom | 30 |
United States | 7 |
Germany | 3 |
Netherlands | 3 |
France | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
Backed's recent investments
Backed has made 5 investments in 2026 so far. RUKA and Round Treasury are the latest among them.Here are the most recent investments by Backed:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 13, 2026 | United Kingdom | Series A | 8244 | [+3] | |
Apr 13, 2026 | United Kingdom | Seed | 5475 | [+3] | |
Mar 27, 2026 | United Kingdom | Seed | 8248 | ||
Mar 26, 2026 | United Kingdom | Seed | 8410 | ||
Mar 25, 2026 | United Kingdom | Seed | 2585 |
Unicorns in Backed's Portfolio
Backed has 3 unicorns in its portfolio - Immutable, Thought Machine and Sky Mavis. The most recent unicorn in their portfolio is Immutable. It became a unicorn in 2022, 4 years before Backed first invested in it.Here is a list of unicorns in Backed's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | Blockchain-based infrastructure for NFT games and applications | 2018 | Sydney | Series C | {qqapzs | ||
67 | Developer of cloud native core banking and payment processing software | 2014 | London | Series D | fptat{c | ||
69 | Developer of blockchain games and infrastructure for player-owned digital economies | 2019 | Singapore | Series B | jc{fxld |
Acquired companies in Backed's Portfolio
16 companies from Backed's portfolio have been acquired. The most recent acquisition was Banked in May 2026 by National Australia Bank for $*****.Here are Backed's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 14, 2026 | Nov 19, 2018 | Seed | 9323 | |
Nov 17, 2025 | Apr 25, 2023 | Series A | 8834 | |
Aug 06, 2025 | Oct 18, 2018 | Seed | 1654 | |
Jun 16, 2025 | - | - | 1411 | |
Apr 14, 2025 | Oct 17, 2018 | Seed | 4066 |
Team profile of Backed
Backed has a team of 10 members including 3 Partners, 3 Venture Partners and 1 Principal located in United Kingdom. Backed's team does not sit on the board of any company as of now.Here is a list of all team members in Backed:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United Kingdom | - | - | |
Partner | - | - | ||
Partner | United Kingdom | - | - | |
Venture Partner | - | - | - | |
Venture Partner | London | - | - | |
Venture Partner | London | - | ||
Principal | London | - | - |
Co-investors of Backed
Over the past 11 years, 403 investors have co-invested in Backed's portfolio companies. This includes funds and angels.
- Invested before Backed: Otium Capital, Entrepreneurs First and 52 others have invested in rounds before Backed. There are 2 companies where Otium Capital has invested before Backed and 2 companies where Entrepreneurs First has invested before Backed.
- Top Co-investors of Backed: 226 investors entered a company along with Backed. These include investors like Speedinvest (5 companies).
- Invested after Backed: A total of 123 investors have invested in Backed's portfolio after their investments. Top Investors include Chalfen Ventures (2 companies), Acrew Capital (2 companies) and Lansdowne Partners (1 company).
Recent News related to Backed
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Round Raises $6M to Build AI That Actually Runs Finance OperationsFinancial IT•Apr 13, 2026•Alstin Capital, Round Treasury, Love Ventures, Backed and 1 other
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Vuelo Raises €64M To Build An AI-powered Travel Booking PlatformStartup Rise EU•Mar 26, 2026•Play Ventures, Insight Partners, Backed, Viola Credit and 2 others
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AI-First ‘Keith’ Bags £2m For Property WorkArtificial Lawyer•Mar 26, 2026•Backed, Breega, Keith Law, Notion
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Backed VC hits €86M Fund III cap, celebrates 100 DeepTech investmentsEU-Startups•Nov 13, 2025•Backed, General Intuition, Invisible Tech, Flow Engineering and 3 others
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CoMind raises €87.8M to advance AI-powered, non-invasive brain monitoringSilicon Canals•Oct 20, 2025•Phoenix Court, Angelini Ventures, Pluralsight, Government of Kerala and 7 others
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Irish biotech Aerska raises $21m to tackle neurological diseasesBusinessplus•Oct 01, 2025•age1, Backed, Speedinvest, Lingotto and 5 others
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Infinity Constellation Secures $17M in FundingFinSMEs•May 27, 2025•Infinity Constellation, Freestyle, Backed, Deepwater Asset Management and 1 other
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Cloud Capital Secures $7.7M in Funding to Control Cloud CostsSiliconAngle•Apr 23, 2025•Cloud Capital, Connect Ventures, Backed, MiddleGame Ventures and 1 other
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Affinity secures USD 8 million in seed fundingThe Paypers•Feb 17, 2025•Grazia Equity, Backed, Enza Capital, Launch Africa and 7 others
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Ghana-based digital banking platform Affinity Africa raises $8 million in seed fundingStartup Log•Feb 12, 2025•Grazia Equity, Backed, Enza Capital, Launch Africa and 4 others
