About IRIS
IRIS is a venture capital firm founded in 1986. It is primarily based out of Paris, France. As of Oct 2026, IRIS is an active investor, having invested in 173 companies, with 4 new investments in the last 12 months. It primarily invests in Series A round in France 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 $***** Series C round of Vates Virtualization Management Stack (XCP-ng / Xen Orchestra) Overall, IRIS portfolio has seen 5 unicorns, 5 IPOs and 69 acquisitions including key companies like Zeta Global, Careem and LumApps. A lot of funds co-invest with IRIS, with names like Capnamic Ventures sharing a substantial percentage of its portfolio. IRIS has team of 19 people including 11 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Series A, Series B & 6 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
IRIS's List of Top Investments
IRIS has a portfolio of 173 companies, including 5 unicorns. Their most notable investments are in Kovalee and Talend Sa.Their portfolio spans across France, Germany, United States and 15 more locations. They have invested in Enterprise Applications, Consumer, High Tech and 28 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by IRIS:
1. Zeta Global
Provider of an AI-powered marketing platform unifying data and marketing channels. The platform offers customer data management, omnichannel activation, and analytics. It facilitates customer experience, acquisition, and campaign execution across paid channels. The platform also provides customer messaging and attribution capabilities.
Key facts about Zeta Global
- Founded Year: 2007
- Location: New York City (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $358M
- Employee Count: 3,124 as on Aug 31, 2026
- Investors: HTIF, Savano Capital Partners and 15 Others
- Latest Funding Round: Conventional Debt, Mar 01, 2021, $*****
- Highlight: Public
2. Careem
App-based ride-hailing aggregator. Users can book rides by providing location, passenger details, payment details, and more. The platform also offers services like food delivery, recharge services, grocery delivery services, and more. Apps are available for Android and iOS users.
Key facts about Careem
- Founded Year: 2012
- Location: Dubai (United Arab Emirates)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $772M
- Employee Count: 6,360 as on Sep 30, 2026
- Investors: Kingdom Holding Company, Kuwait Investment Authority and 26 Others
- Latest Funding Round: Series F, Oct 18, 2018, $*****
- Highlight: Acquired
3. LumApps
Cloud based employee communication platform provider. It enables users to customize user profiles to get news and relevant information, content management, corporate user dictionary, employee management, internal communications, corporate portal, team management, and team discussions. It also allows users to view fellow co workers and the posts, enables users to search for people, teams, locations, contact details, and social activities.
Key facts about LumApps
- Founded Year: 2012
- Location: Tassin la Demi Lune (France)
- Annual Revenue: €10M - €50M as on Dec 31, 2024
- Stage: Acquired
- Total Funding till date: $102M
- Employee Count: 910 as on Sep 30, 2026
- Investors: Goldman Sachs, IRIS and 6 Others
- Latest Funding Round: Series C, Dec 31, 2019, $*****
- Highlight: Acquired
4. Adjust
Cloud-based mobile marketing software solution provider. It provides an open-source SDK that enables app developers to track and analyze things like user acquisition, feature releases, and user lifetime cohorts. Also enables the tracking of interactions in the app in real-time to see how users engage over their full lifetime. Clients include some of the world's largest brands such as Baidu, Deutsche Telekom, Universal Music, Spotify, and Viacom.
Key facts about Adjust
- Founded Year: 2012
- Location: Berlin (Germany)
- Stage: Acquired
- Total Funding till date: $256M
- Employee Count: 473 as on Sep 30, 2026
- Investors: TriplePoint Capital, Highland Europe and 15 Others
- Latest Funding Round: Series F, Jun 12, 2019, $*****
- Highlight: Acquired
5. Phone.com
Key facts about Phone.com
- Founded Year: 2008
- Location: Newark (United States)
- Stage: Acquired
- Total Funding till date: $2M
- Employee Count: 631 as on Sep 30, 2026
- Investors: IRIS, Lightspeed Venture Partners and 6 Others
- Latest Funding Round: Series A, Mar 12, 2013, $*****
- Highlight: Acquired
IRIS's Year-on-Year Investment Trends
IRIS has invested in 175 companies over the last 26 years, with an average of 4 new investments annually in the last 10 years. In 2025, it made 5 investments, while as of Oct 2026, it has made 5 investments in this year. Its most recent first time investment was in Vates Virtualization Management Stack (XCP-ng / Xen Orchestra) and most recent follow-on round was in Escape.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 1 | 5 |
2025 | 4 | 1 | 5 |
2024 | 0 | 0 | 0 |
2023 | 5 | 0 | 5 |
2022 | 4 | 0 | 4 |
2021 | 5 | 4 | 9 |
2020 | 3 | 6 | 9 |
2019 | 4 | 3 | 7 |
2018 | 7 | 4 | 11 |
2017 | 5 | 4 | 9 |
IRIS's Investments by Stage
IRIS has made 39 investments in Series A stage with an average round size of $7.32M, 24 investments in Series B stage with an average round size of $16.6M and 18 investments in Seed stage with an average round size of $2.56M.Stage of entry | No. of Investments |
|---|---|
Series A | 39 |
Series B | 24 |
Seed | 18 |
Series C | 14 |
PE | 4 |
Others | 7 |
Note: We have considered here, only first round of investments
IRIS's Investments by Sector
IRIS has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, Consumer, High Tech and Vertical SaaS. Notably, it has invested in 122 Enterprise (B2B) companies, 122 Tech companies, 87 Software companies and at least 54 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 64 |
Enterprise Infrastructure | 21 |
Consumer | 19 |
High Tech | 15 |
Vertical SaaS | 15 |
Others | 104 |
Note: We have considered here, only first round of investments
IRIS's Investments by Geography
IRIS has made most investments in France (47), followed by Germany where it has made 24 investments.Country | No. of Investments |
|---|---|
France | 47 |
Germany | 24 |
United States | 14 |
Israel | 4 |
United Kingdom | 4 |
Others | 14 |
Note: We have considered here, only first round of investments
IRIS's recent investments
IRIS has made 5 investments in 2026 so far. Vates Virtualization Management Stack (XCP-ng / Xen Orchestra) and Implicity are the latest among them.Here are the most recent investments by IRIS:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 06, 2026 | France | Series C | 2038 | ||
Sep 09, 2026 | United States | Series B | 8295 | ||
Aug 31, 2026 | United Kingdom | Seed | 1018 | [+3] | |
May 07, 2026 | France | Series A | 3335 | ||
Jan 13, 2026 | United States | Series A | 1612 | [+2] |
Unicorns in IRIS's Portfolio
IRIS has 5 unicorns in its portfolio - Staffbase, Exotec, Forto and others. The most recent unicorn in their portfolio is Staffbase. It became a unicorn in 2022, 4 years before IRIS first invested in it.Here is a list of unicorns in IRIS's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Developer of software for internal employee communication and experience management | 2014 | Chemnitz | Series E | gvkqdhf | ||
64 | Provider of warehouse automation systems featuring robots, software, and modular design | 2015 | Croix | Series D | jvqhjeo | ||
65 | Provider of tech-enabled freight forwarding services | 2016 | Berlin | Series D | qpwkvfy | ||
67 | Provider of AI solutions for insurance underwriting, claims, and risk | 2014 | Paris | Series D | segzqee | ||
67 | Provider of mobile endpoint security solutions against phishing and malware | 2007 | San Francisco | Series G | inawclj |
IPOs and Publicly Listed companies in IRIS's Portfolio
5 of IRIS's portfolio companies have become public. Zeta Global got listed on the New York Stock Exchange (NYSE), in Jun 2021 at marketcap of $1.91B and Havas Creative got listed on the OTC Markets (OTCMKTS).Here are IRIS's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 10, 2021 | - | - | 2236 | |
Dec 20, 2017 | - | - | 9700 | |
May 07, 2004 | - | - | 4883 | |
Jan 26, 1998 | - | - | 9176 | |
- | Mar 26, 2015 | Series A | 4707 |
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Acquired companies in IRIS's Portfolio
69 companies from IRIS's portfolio have been acquired. The most recent acquisition was Adaptive ML in Jun 2026 by Datadog for $*****.Here are IRIS's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 30, 2026 | - | - | 7908 | |
Apr 24, 2026 | Dec 18, 2018 | Series A | 9711 | |
Nov 25, 2025 | - | - | 7265 | |
Sep 17, 2025 | - | - | 9988 | |
Jan 09, 2025 | Jan 28, 2021 | Series C | 3689 |
Team profile of IRIS
IRIS has a team of 19 members including 11 Partners and 5 Principals located in France, Germany and 1 more location. IRIS's team does not sit on the board of any company as of now.Here is a list of top team members in IRIS:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Paris | - | ||
Partner | - | - | - | |
Partner | - | - | - | |
Partner | London | - | ||
Partner | Berlin | - | - | |
Partner | Paris | - | ||
Partner | France | - | ||
Partner | France | - | ||
Partner | Munich | - | ||
Partner | Paris | - |
Co-investors of IRIS
Over the past 26 years, 475 investors have co-invested in IRIS's portfolio companies. This includes funds and angels.
- Invested before IRIS: Idinvest Partners, XAnge and 179 others have invested in rounds before IRIS. There are 3 companies where Idinvest Partners has invested before IRIS and 3 companies where XAnge has invested before IRIS.
- Top Co-investors of IRIS: 146 investors entered a company along with IRIS. These include investors like Capnamic Ventures (13 companies).
- Invested after IRIS: A total of 148 investors have invested in IRIS's portfolio after their investments. Top Investors include Bpifrance (7 companies), Europa (5 companies) and Mitsubishi UFJ Capital (2 companies).
Recent News related to IRIS
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Implicity Raises €35M From IRIS and Five Arrows to Scale Cardiac AITech Funding News•Sep 09, 2026•Implicity, Rothschild & Co, IRIS
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Ex-Roblox Engineer's OpsMill Raises $14M from BGV, Partech for Network Automation Data LayerTech Funding News•May 07, 2026•OpsMill, IRIS, Serena, Partech Partners and 4 others
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YC’s Escape nabs $18M from Balderton to capitalise on cybersecurity’s ‘unique moment’ Tech Funding News•Mar 10, 2026•Escape, Balderton Capital, IRIS, Uncorrelated Ventures and 2 others
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