About FollowTheSeed
FollowTheSeed is a venture capital firm founded in 2015. It is primarily based out of Sydney, Australia. As of Jan 2025, FollowTheSeed is an active investor, having invested in 48 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Australia based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and High Tech. Most recently it participated in the $***** Seed round of Hybrid Technologies Overall, FollowTheSeed portfolio has seen 1 unicorn, 2 IPOs and 4 acquisitions including key companies like Salt Security, Open Learning and Seebo. A lot of funds co-invest with FollowTheSeed, with names like NGC sharing a substantial percentage of its portfolio. FollowTheSeed has team of 11 people including 8 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio IPOs
Portfolio Unicorns
Deals in last 12 months
FollowTheSeed's List of Top Investments
FollowTheSeed has a portfolio of 48 companies, one of which is a Unicorn. Their most notable investments are in Jayride and Abyss Solucations.Their portfolio spans across Australia, United States, Israel and 5 more locations. They have invested in Enterprise Applications, Consumer, High Tech and 23 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by FollowTheSeed:
1. Workspot
Cloud-based desktop virtualization platform. It is a SaaS solution that allows companies to deliver email, business applications, and data onto mobile devices. It provides users with streamlined access to all the work apps. The VDI supports hybrid cloud environments. It caters its solution to industries such as legal, healthcare, retail, and more.
Key facts about Workspot
- Founded Year: 2012
- Location: Menlo Park (United States)
- Stage: Series D
- Total Funding till date: $75.9M
- Employee Count: 64 as on Dec 31, 2022
- Investors: Helion Venture Partners, Presidio Ventures and 17 Others
- Latest Funding Round: Series D, Sep 24, 2019, $*****
- Highlight: Editors' Pick
AI-driven platform offering offshore inspection services. It delivers solutions for generating condition assessment reports for underwater infrastructure including bridges, dams, reservoirs, and other water-based constructions including submerged pipelines, oil and gas rigs, and ship hulls. It uses machine learning, robotics, and data analysis tools to enable accurate condition assessment.
Key facts about Abyss Solutions
- Founded Year: 2014
- Location: Pyrmont (Australia)
- Stage: Series B
- Total Funding till date: $19.2M
- Investors: AirTree, FollowTheSeed and 17 Others
- Latest Funding Round: Series B, Nov 21, 2022, $*****
- Highlight: Editors' Pick
AI based API security software. It leverages AI that detects and prevents API attacks. It provides behavioural threat protection solution to secure, and manage the APIs in real time. The platform provides insights into the security posture of the APIs. It allows users to detect and fix the vulnerabilities in the API and share the remedies with team.
Key facts about Salt Security
- Founded Year: 2016
- Location: Palo Alto (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $281M
- Employee Count: 167 as on Jul 01, 2024
- Investors: S Capital VC, DFJ Growth and 16 Others
- Latest Funding Round: Series D, Sep 19, 2022, $*****
- Highlight: Editors' Pick
4. Cylus
Cylus is a cybersecurity platform for railway and metro systems. It enables automated and wireless technology-based rail companies to detect cyber attacks in operational networks including signaling and block attackers before they cause damage. The features include centralized operational visibility making all track sides and train-borne connected devices visible to operators, multi-vendor integrated protection to identify weak links in the system, and preemptive responses to threats.
Key facts about Cylus
- Founded Year: 2017
- Location: Tel Aviv (Israel)
- Stage: Series B
- Total Funding till date: $57M
- Employee Count: 68 as on Jul 01, 2024
- Investors: Vertex Ventures Israel, Magma Venture Partners and 12 Others
- Latest Funding Round: Series B, Dec 15, 2021, $*****
- Highlight: Editors' Pick
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OpenLearning is an open marketplace MOOC that enables individuals and institutions to take and create free courses online. Has a collection of 660+ courses in arts, medicine, math, sports, lifestyle and many self- development programs. Users can sort courses by universities, skills and more. As of September 2015, 230K+ students have used this platform. Offers a guide to individuals, institutions, and businesses who want to create courses. Earns most of its revenue from its private courses, where the course provider is able to restrict who takes the course.
Key facts about Open Learning
- Founded Year: 2012
- Location: Sydney (Australia)
- Stage: Public
- Total Funding till date: $7.81M
- Employee Count: 83 as on Jul 01, 2024
- Investors: SYD Ventures, FollowTheSeed and 7 Others
- Latest Funding Round: Series A, Jun 11, 2018, $*****
- Highlight: Public
FollowTheSeed's Year-on-Year Investment Trends
FollowTheSeed has invested in 48 companies over the last 11 years, with an average of 1 new investment annually in the last 10 years. In 2025, it made 1 investment. Its most recent first time investment was in Hybrid Technologies and most recent follow-on round was in Lumi.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 1 | 0 | 1 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 3 | 0 | 3 |
2020 | 0 | 0 | 0 |
2019 | 1 | 1 | 2 |
2018 | 1 | 0 | 1 |
2017 | 5 | 2 | 7 |
FollowTheSeed's Investments by Stage
FollowTheSeed has made 10 investments in Seed stage with an average round size of $1.11M, 3 investments in Series A stage with an average round size of $7.83M and 2 investments in Series B stage with an average round size of $8.14M.Stage of entry | No. of Investments |
|---|---|
Seed | 10 |
Series A | 3 |
Series B | 2 |
Note: We have considered here, only first round of investments
FollowTheSeed's Investments by Sector
FollowTheSeed has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, FinTech, Blockchain - Industry Applications and Blockchain Technology. Notably, it has invested in 43 Tech companies, 29 Enterprise (B2B) companies, 26 Software companies and at least 19 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Consumer | 6 |
Enterprise Applications | 6 |
FinTech | 4 |
Blockchain - Industry Applications | 3 |
Blockchain Technology | 3 |
Others | 23 |
Note: We have considered here, only first round of investments
FollowTheSeed's Investments by Geography
FollowTheSeed has made most investments in Australia (7), followed by United States where it has made 4 investments.Country | No. of Investments |
|---|---|
Australia | 7 |
United States | 4 |
Colombia | 1 |
Germany | 1 |
Iceland | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
FollowTheSeed's recent investments
FollowTheSeed has not made any investment in 2026 so far.Here are the most recent investments by FollowTheSeed:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 25, 2025 | Germany | Seed | 3562 | [+4] | |
Apr 15, 2024 | United States | Series B | 7077 | [+17] | |
Dec 09, 2021 | Iceland | Series A | 1189 | [+24] | |
Nov 22, 2021 | Australia | Seed | 2303 | - | |
Aug 12, 2021 | United States | Seed | 6655 |
Unicorns in FollowTheSeed's Portfolio
FollowTheSeed has 1 unicorn in its portfolio - Salt Security. The most recent unicorn in their portfolio is Salt Security which became a unicorn in 2022, 4 years before FollowTheSeed first invested in it.Here is a list of unicorns in FollowTheSeed's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
63 | AI based API security software | 2016 | Palo Alto | Series D | svykljh |
IPOs and Publicly Listed companies in FollowTheSeed's Portfolio
2 of FollowTheSeed's portfolio companies have become public. Open Learning got listed on the Australian Securities Exchange (ASX), in Dec 2019 at marketcap of $6.27M and Jayride got listed on the Australian Securities Exchange (ASX) at marketcap of $29.7M.Here are FollowTheSeed's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 12, 2019 | - | - | 7375 | |
Jan 29, 2018 | Mar 21, 2017 | Seed | 3241 |
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Acquired companies in FollowTheSeed's Portfolio
4 companies from FollowTheSeed's portfolio have been acquired. The most recent acquisition was Seebo in May 2022 by Augury for $*****.Here are FollowTheSeed's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 11, 2022 | - | - | 4097 | |
May 18, 2021 | - | - | 1207 | |
Sep 04, 2019 | - | - | 5391 | |
Aug 21, 2018 | - | - | 7285 |
Team profile of FollowTheSeed
FollowTheSeed has a team of 11 members including 8 Partners and 2 Principals located in Australia, United States and 4 more locations. FollowTheSeed's team does not sit on the board of any company as of now.Here is a list of top team members in FollowTheSeed:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Sydney | - | ||
Partner | United States | - | - | |
Partner | Beijing | - | - | |
Partner | Sydney | - | ||
Partner | - | - | ||
Partner | Sydney | - | ||
Partner | Singapore | - | - | |
Partner | Lisbon | - | ||
Principal | Israel | - | - | |
Principal | United States | - | - |
Co-investors of FollowTheSeed
Over the past 11 years, 103 investors have co-invested in FollowTheSeed's portfolio companies. This includes funds and angels.
- Invested before FollowTheSeed: Helion Venture Partners, TransLink Capital and 25 others have invested in rounds before FollowTheSeed. There is 1 company where Helion Venture Partners has invested before FollowTheSeed and 1 company where TransLink Capital has invested before FollowTheSeed.
- Top Co-investors of FollowTheSeed: 60 investors entered a company along with FollowTheSeed. These include investors like NGC (2 companies).
- Invested after FollowTheSeed: A total of 16 investors have invested in FollowTheSeed's portfolio after their investments. Top Investors include AirTree (1 company), Australian Retirement Trust (1 company) and Ibex Investors (1 company).
Recent News related to FollowTheSeed
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AI Agent Platform Hybrid Completes Seed Round Financing, Outlier Ventures and Others ParticipateCoinTime•Jan 25, 2025•Hybrid Technologies, Outlier Ventures, NxGen, FollowTheSeed and 3 others
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Crypto game studio Avalon completed $ 10 million in financing, Bitkraft Ventures and HashedPANews•Apr 15, 2024•Avalon, BITKRAFT Ventures, Hashed, Coinbase and 19 others
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Israeli rail cybersecurity firm Cylus raises $12 millionReuters•Jun 06, 2019•Cylus, Cyient, Magma Venture Partners, Vertex Ventures Israel and 6 others
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Three-month-old startup Lumi raises $31.5 million to kick-start its SME lending solutionSmartCompany•Nov 15, 2018•Lumi, Lumi, FollowTheSeed
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Cozitrip raises $2 million to chase Chinese inbound travel market - ChinaTravelNewsChina Travel News•Oct 09, 2017•Cozitrip, Alibaba Cloud, FollowTheSeed
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Australian Airport transport start-up Jayride raises $8 million - ChinaTravelNewsChina Travel News•Sep 25, 2017•Jayride, Artesian, VentureCrowd, Rimon and 1 other
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