About Four Cities Capital
Four Cities Capital is a venture capital firm founded in 2015. It is primarily based out of Boston, United States. As of Jul 2025, Four Cities Capital has invested in 45 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and FinTech. Most recently it participated in the $***** Seed round of Caseflood.ai Overall, Four Cities Capital portfolio has seen 15 unicorns, 3 IPOs and 4 acquisitions including key companies like Deel, Aven and Marqeta. A lot of funds co-invest with Four Cities Capital, with names like Pioneer Fund sharing a substantial percentage of its portfolio. Four Cities Capital has team of 3 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 1 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Four Cities Capital's List of Top Investments
Four Cities Capital has a portfolio of 45 companies, including 15 unicorns. Their most notable investmentis in LawTradesTheir portfolio spans across United States, United Kingdom and Canada. They have invested in Enterprise Applications, High Tech, FinTech and 14 other sectors, across stages such as Series A, Seed and 1 more. Here is the list of top investments by Four Cities Capital:
1. Deel
Provider of human resources and international payroll compliance software tools. The platform facilitates global hiring, automated payroll processing, workforce management, and legal compliance for personnel located across different jurisdictions. It handles visa processing, equipment provisioning, benefits administration, and multi-currency payouts through a centralized digital interface. The technology automates contract generation and tax documentation to manage international teams.
Key facts about Deel
- Founded Year: 2019
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $986M
- Employee Count: 9,671 as on Sep 30, 2026
- Investors: Spark Capital, Mubadala and 58 Others
- Latest Funding Round: Series E, Oct 16, 2025, $*****
- Highlight: Editors' Pick
2. Odeko
Provider of online ordering solution for coffee businesses. Odeko is a business analytics and insights provider for coffee chains that offers information related to inventory. Features include monthly reports, customized ordering models, success management, and others. Monetizes through subscription plans. It also allows the customers to connect coffee drinkers with coffee shops in the area and place orders on Odeko. The shops receive alerts on POS or tablet and orders are integrated into the normal fulfillment process. The customers are alerted when orders are ready for curbside or in-store pickup.
Key facts about Odeko
- Founded Year: 2019
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $296M
- Employee Count: 218 as on Sep 30, 2026
- Investors: First Round Capital, Four Cities Capital and 29 Others
- Latest Funding Round: Conventional Debt, Mar 04, 2025, $*****
- Highlight: Editors' Pick
3. Aven
Credit cards backed by home equity for consumers. It can be used for services such as online/offline purchases, money transfers, bill payments, and more. Users can register by home & identity verification, identity verification, eSigning the documents, and more.
Key facts about Aven
- Founded Year: 2019
- Location: Burlingame (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $252M
- Employee Count: 202 as on Sep 30, 2026
- Investors: GIC, TriplePoint Capital and 22 Others
- Latest Funding Round: Series E, Sep 09, 2025, $*****
- Highlight: Editors' Pick
4. Marqeta
Provider of a platform for modern card issuing and payment solutions. The platform allows businesses to integrate end-to-end credit and payment solutions. It enables the creation of tailored payment experiences and new card products. The platform offers features such as spend controls, fraud detection, and compliance tools. It facilitates the issuing of virtual cards and supports global expansion. The platform provides open APIs for creating payment products.
Key facts about Marqeta
- Founded Year: 2010
- Location: Oakland (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $528M
- Employee Count: 1,060 as on Sep 30, 2026
- Investors: HTIF, Harvest Growth Capital and 64 Others
- Latest Funding Round: Series E, Oct 08, 2020, $*****
- Highlight: Public
Provider of APIs to automate and manage money movement and ledgering. The platform offers tools for payment automation across various payment rails. It provides real-time transaction tracking and balance monitoring across accounts. The system aims to reduce engineering workload through pre-built bank integrations.
Key facts about Modern Treasury
- Founded Year: 2018
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $183M
- Employee Count: 122 as on Sep 30, 2026
- Investors: Salesforce Ventures, Spark Capital and 16 Others
- Latest Funding Round: Series C, Mar 30, 2022, $*****
- Highlight: Editors' Pick
Four Cities Capital's Year-on-Year Investment Trends
Four Cities Capital has invested in 45 companies over the last 5 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 5 investments. Its most recent first time investment was in Caseflood.ai.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 5 | 0 | 5 |
2024 | 3 | 0 | 3 |
2023 | 1 | 0 | 1 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
Four Cities Capital's Investments by Stage
Four Cities Capital has made 5 investments in Series A stage with an average round size of $12.2M, 4 investments in Seed stage with an average round size of $4.48M and 1 investment in Series B stage with an average round size of $15M.Stage of entry | No. of Investments |
|---|---|
Series A | 5 |
Seed | 4 |
Series B | 1 |
Note: We have considered here, only first round of investments
Four Cities Capital's Investments by Sector
Four Cities Capital has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, Vertical SaaS and Enterprise Infrastructure. Notably, it has invested in 44 Tech companies, 37 Enterprise (B2B) companies, 30 Software companies and at least 16 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 7 |
FinTech | 3 |
Consumer | 2 |
Vertical SaaS | 2 |
Enterprise Infrastructure | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Four Cities Capital's Investments by Geography
Four Cities Capital has made most investments in United States (7), followed by Canada where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 7 |
Canada | 2 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Four Cities Capital's recent investments
Four Cities Capital has not made any investment in 2026 so far.Here are the most recent investments by Four Cities Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 30, 2025 | United States | Seed | 5404 | [+10] | |
Jul 22, 2025 | United Kingdom | Series A | 2286 | [+5] | |
Jun 10, 2025 | Canada | Seed | 5873 | [+5] | |
Feb 18, 2025 | Canada | Series A | 1367 | [+9] | |
Jan 19, 2025 | United States | Series A | 3703 | [+4] |
Unicorns in Four Cities Capital's Portfolio
Four Cities Capital has 15 unicorns in its portfolio - Alpaca Securities, Deepgram, Stoke and others. The most recent unicorn in their portfolio is Alpaca Securities. It became a unicorn in 2026.Here is a list of unicorns in Four Cities Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
56 | Internet-first stock broker | 2015 | San Mateo | Series D | qsfximq | ||
68 | Provider of AI-based speech transcription software | 2015 | San Francisco | Series C | jojitlf | ||
60 | Manufacturer of reusable launch vehicles | 2019 | Kent | Series E | {{xlcnk | ||
56 | AI and robotics for infrastructure inspection, maintenance, and operational excellence | 2013 | Pittsburgh | Series D | w{mgcfu | ||
77 | Credit cards backed by home equity for consumers | 2019 | Burlingame | Series E | pjxsmyg |
IPOs and Publicly Listed companies in Four Cities Capital's Portfolio
3 of Four Cities Capital's portfolio companies have become public. Ginkgo Bioworks got listed on the New York Stock Exchange (NYSE), in Sep 2021 and Marqeta got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $14.3B.Here are Four Cities Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 17, 2021 | - | - | 1877 | |
Jun 09, 2021 | - | - | 3876 | |
Jan 15, 2021 | - | - | 5298 |
Acquired companies in Four Cities Capital's Portfolio
4 companies from Four Cities Capital's portfolio have been acquired. The most recent acquisition was CareRev in Jan 2026 by IntelyCare for $*****.Here are Four Cities Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 08, 2026 | - | - | 5867 | |
Nov 19, 2025 | - | - | 7290 | |
Sep 03, 2025 | - | - | 1683 | |
Feb 11, 2025 | - | - | 7554 |
Team profile of Four Cities Capital
Four Cities Capital has a team of 3 members including 2 Partners located in United Kingdom and United States. Four Cities Capital's team does not sit on the board of any company as of now.Co-investors of Four Cities Capital
Over the past 5 years, 96 investors have co-invested in Four Cities Capital's portfolio companies. This includes funds and angels.
- Invested before Four Cities Capital: Y Combinator, Thayer Ventures and 42 others have invested in rounds before Four Cities Capital. There are 4 companies where Y Combinator has invested before Four Cities Capital and 1 company where Thayer Ventures has invested before Four Cities Capital.
- Top Co-investors of Four Cities Capital: 51 investors entered a company along with Four Cities Capital. These include investors like Pioneer Fund (4 companies).
- Invested after Four Cities Capital: Canadian Imperial Bank of Commerce (1 company) is the only investor which has invested in Four Cities Capital's portfolio after their investments.
Recent News related to Four Cities Capital
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Y Combinator-Backed Caseflood Secures $3.2m For Voice AgentsArtificial Lawyer•Jul 30, 2025•Caseflood.ai, Y Combinator, Acquisition.com, Four Cities Capital and 5 others
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Kadence Raises $20M to Transform How Enterprises Run the Modern Workplace
Access Newswire•Jul 22, 2025•Kadence, High Alpha, Kickstart, Midwich Group and 3 others
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Capi Money secures €17.2 Million in Series A funding to transform global trade for SMEs in emerging marketsInnovation-village•Feb 27, 2025•Capi Money, Creandum, Janngo, Y Combinator and 6 others
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Capi Money secures €17.2 million to revolutionise global trade for SMEs in emerging marketsEU-Startups•Feb 18, 2025•Capi Money, Creandum, Y Combinator, Firstminute Capital and 11 others
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POINT.ME Raises $15M in Series B Funding, Establishing It as a Tech Leader at the Intersection of Personal Finance and Travel RewardsPR Newswire•Sep 18, 2024•POINT.ME, Nyca Partners, Citi, Samsung NEXT and 4 others
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Kudos: AI-Powered Smart Wallet Company Raises $10.2 MillionPulse 2.0•May 28, 2024•Kudos, QED Investors, The Points Guy, Samsung NEXT and 5 others
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Kudos raises $10.2m for AI-powered smart walletFinextra•May 20, 2024•Kudos, Samsung, SV Angel, Precursor Ventures and 7 others
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Kudos raises USD 10.2 million in Series A fundingThe Paypers•May 20, 2024•Kudos, QED Investors, Patron Capital, Samsung NEXT and 5 others
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AI-Powered Kudos Wallet Raises Oversubscribed $10.2 Million Series AThe News Observer•May 17, 2024•Kudos, QED Investors, Patron, Samsung NEXT and 7 others
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Leya raises $10.5 million for the development of its legal AI toolIberianlawyer•May 16, 2024•Legora Law, SV Angel, Hummingbird Ventures, Y Combinator and 6 others
