About M12
M12 is a venture capital firm founded in 2016. It is primarily based out of San Francisco, United States. As of Jul 2026, M12 is an active investor, having invested in 265 companies, with 15 new investments in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Enterprise Infrastructure. Most recently it participated in the $***** Series A round of Mate Security Overall, M12 portfolio has seen 17 unicorns, 6 IPOs and 63 acquisitions including key companies like CloudFlare, Go1 and Innovaccer. A lot of funds co-invest with M12, with names like Cisco Investments sharing a substantial percentage of its portfolio. M12 has team of 9 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 7 more
Portfolio IPOs
Deals in last 12 months
M12's List of Top Investments
M12 has a portfolio of 265 companies, including 17 unicorns. Their most notable investments are in Parabol and Nanofabrica.Their portfolio spans across United States, Israel, India and 19 more locations. They have invested in Enterprise Applications, High Tech, Enterprise Infrastructure and 28 other sectors, across stages such as Series A, Seed and 7 more. Here is the list of top investments by M12:1. CloudFlare
Provider of cloud services for security, performance, and application development. The company delivers networking, security, and performance services through its connectivity cloud platform. It offers solutions for application security, application performance, and network services. The company's platform supports businesses in modernizing networks, securing workspaces, and optimizing web experiences.
Key facts about CloudFlare
- Founded Year: 2009
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $332M
- Employee Count: 8,374 as on Jul 31, 2026
- Investors: HTIF, Fidelity Investments and 17 Others
- Latest Funding Round: Post IPO, Aug 2021, $*****
- Highlight: Public
2. BlueVine
Provider of business checking accounts, business loans, and business credit cards. The company offers business checking with interest, accounts payable automation, and international payments. Business loans include lines of credit, term loans, and SBA loan access through lending partners. The business credit card provides cash back on purchases.
Key facts about BlueVine
- Founded Year: 2013
- Location: Redwood City (United States)
- Stage: Series F
- Total Funding till date: $288M
- Employee Count: 615 as on Jul 31, 2026
- Investors: Kreos Capital, TriplePoint Capital and 28 Others
- Latest Funding Round: Conventional Debt, Sep 09, 2020, $*****
- Highlight: Editors' Pick
3. Go1
Cloud-based LMS platform for multi-industry. The product allows employers to manage the training portal and works on an aggregation model that enables users to add courses from the marketplace, create a new course with the company materials, or upload existing content. The platform provides solutions for government, enterprises, and content creators.
Key facts about Go1
- Founded Year: 1998
- Location: Brisbane (Australia)
- Annual Revenue: $10M - $50M as on Jun 30, 2021
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $430M
- Employee Count: 600 as on Jul 31, 2026
- Investors: Salesforce Ventures, Blue Cloud Ventures and 33 Others
- Latest Funding Round: Series D, May 09, 2023, $*****
- Highlight: Editors' Pick
4. Innovaccer
Developer of healthcare data platforms and artificial intelligence agent software. This technology unifies clinical, operational, and financial information from disparate systems to support decision-making. The platform provides tools for population health management, revenue cycle automation, and quality performance tracking. It enables the deployment of automated assistants to streamline administrative workflows, manage patient outreach, and facilitate care coordination across various healthcare settings. The system integrates non-electronic health record data to improve documentation accuracy and support value-based care initiatives.
Key facts about Innovaccer
- Founded Year: 2014
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $675M
- Employee Count: 1,167 as on May 31, 2026
- Investors: WestBridge Capital, Dragoneer Investment Group and 36 Others
- Latest Funding Round: Series F, Jan 09, 2025, $*****
- Highlight: Editors' Pick
5. AppsFlyer
Provider of software for mobile attribution and marketing data analytics. This technology tracks user engagement across mobile applications, websites, and connected television platforms. It provides tools for deep linking, fraud prevention, and data collaboration to measure advertising performance. The software integrates cross-platform signals to assist in optimizing marketing spend and user acquisition strategies. It also includes features for managing creative assets and audience segmentation to improve conversion rates.
Key facts about AppsFlyer
- Founded Year: 2011
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $1.3B
- Employee Count: 1,576 as on Jul 31, 2026
- Investors: Goldman Sachs, Goldman Sachs Investment Partners and 23 Others
- Latest Funding Round: Conventional Debt, Aug 25, 2026, $*****
- Highlight: Editors' Pick
M12's Year-on-Year Investment Trends
M12 has invested in 265 companies over the last 18 years, with an average of 18 new investments annually in the last 10 years. In 2025, it made 20 investments, while as of Jul 2026, it has made 11 investments in this year. Its most recent first time investment was in Mate Security and most recent follow-on round was in NeuBird.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 9 | 2 | 11 |
2025 | 15 | 5 | 20 |
2024 | 22 | 4 | 26 |
2023 | 6 | 8 | 14 |
2022 | 20 | 18 | 38 |
2021 | 20 | 29 | 49 |
2020 | 19 | 18 | 37 |
2019 | 13 | 15 | 28 |
2018 | 26 | 11 | 37 |
2017 | 23 | 8 | 31 |
M12's Investments by Stage
M12 has made 83 investments in Series A stage with an average round size of $24.6M, 69 investments in Seed stage with an average round size of $9.08M and 57 investments in Series B stage with an average round size of $26M.Stage of entry | No. of Investments |
|---|---|
Series A | 83 |
Seed | 69 |
Series B | 57 |
Series C | 15 |
Series D | 7 |
Others | 11 |
Note: We have considered here, only first round of investments
M12's Investments by Sector
M12 has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, High Tech, Vertical SaaS and Consumer. Notably, it has invested in 248 Tech companies, 232 Enterprise (B2B) companies, 201 Software companies and at least 141 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 181 |
Enterprise Infrastructure | 72 |
High Tech | 69 |
Vertical SaaS | 38 |
Consumer | 29 |
Others | 208 |
Note: We have considered here, only first round of investments
M12's Investments by Geography
M12 has made most investments in United States (154), followed by Israel where it has made 23 investments.Country | No. of Investments |
|---|---|
United States | 154 |
Israel | 23 |
India | 17 |
United Kingdom | 13 |
Germany | 9 |
Others | 32 |
Note: We have considered here, only first round of investments
M12's recent investments
M12 has made 11 investments in 2026 so far. Mate Security and Cinder are the latest among them.Here are the most recent investments by M12:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 28, 2026 | Israel | Series A | 9430 | [+2] | |
May 13, 2026 | United States | Series B | 1533 | [+4] | |
Apr 15, 2026 | United States | Series A | 2511 | [+6] | |
Apr 06, 2026 | United States | Seed | 9174 | [+3] | |
Apr 01, 2026 | United States | Series C | 4933 | [+3] |
Unicorns in M12's Portfolio
M12 has 17 unicorns in its portfolio - RapidSOS, d-Matrix, Netradyne and others. The most recent unicorn in their portfolio is RapidSOS. It became a unicorn in 2025, 7 years after M12 first invested in it.Here is a list of unicorns in M12's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Provider of an intelligent safety platform connecting data to first responders | 2012 | New York City | Series E | dftsiai | ||
64 | Developers of digital-in memory compute engine for efficient AI processing | 2019 | Los Altos | Series C | qtdpdig | ||
67 | AI-powered fleet safety camera system | 2015 | San Diego | Series D | qjeqxmh | ||
71 | Platform offering AI-enabled software for autonomous driving | 2017 | London | Series D | rjauvrh | ||
59 | Developer of an AI platform for personalized enterprise marketing content | 2022 | San Francisco | Series B | ceyjism |
IPOs and Publicly Listed companies in M12's Portfolio
6 of M12's portfolio companies have become public. Zoomcar got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Dec 2023 and Vertical Aerospace got listed on the New York Stock Exchange (NYSE).Here are M12's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 29, 2023 | May 23, 2014 | Seed | 5412 | |
Dec 15, 2021 | Oct 27, 2021 | Series A | 6773 | |
Nov 20, 2020 | Dec 19, 2018 | Series A | 4087 | |
Sep 13, 2019 | Dec 2014 | Series D | 1225 | |
- | Jul 21, 2014 | Seed | 9133 |
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Acquired companies in M12's Portfolio
63 companies from M12's portfolio have been acquired. The most recent acquisition was At-Bay in Aug 2026 by Munich Re for $*****.Here are M12's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 20, 2026 | Feb 20, 2020 | Series B | 4017 | |
Aug 13, 2026 | Feb 20, 2025 | Series C | 2804 | |
Aug 04, 2026 | Feb 09, 2022 | Series A | 7233 | |
Mar 25, 2026 | Dec 12, 2016 | Series E | 8138 | |
Jan 09, 2026 | Nov 16, 2023 | Seed | 2851 |
Team profile of M12
M12 has a team of 9 members including 1 Partner and 3 Principals located in United States. M12's team sits on the board of 1 company.Here is a list of all team members in M12:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Principal | Seattle | - | ||
Principal | United States | - | ||
Principal | United States | - |
Co-investors of M12
Over the past 18 years, 1780 investors have co-invested in M12's portfolio companies. This includes funds and angels.
- Invested before M12: Y Combinator, Techstars and 672 others have invested in rounds before M12. There are 11 companies where Y Combinator has invested before M12 and 7 companies where Techstars has invested before M12.
- Top Co-investors of M12: 430 investors entered a company along with M12. These include investors like Cisco Investments (6 companies).
- Invested after M12: A total of 676 investors have invested in M12's portfolio after their investments. Top Investors include SoftBank Vision Fund (8 companies), Insight Partners (7 companies) and Salesforce Ventures (7 companies).
Recent News related to M12
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Mate Security Raises $35M Series A to Scale AI-Driven Security Operations PlatformThe SaaS News•Jul 29, 2026•Canaan, Mate Security, Insight Partners, Team8 and 1 other
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Vapi Secures $50M Series B Funding Amidst Reaching 1 Billion CallsMedia Bulletins•May 13, 2026•Vapi, Peak XV Partners, M12, Kleiner Perkins and 1 other
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Auctor Secures Funding to Scale AI Implementation PlatformSMEStreet.in•Apr 16, 2026•Auctor, Sequoia Capital, OneStream Software, HubSpot and 5 others
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nEye.ai Raises $80M to Scale Optical Circuit Switching for AI Data CentersTechStartups.com•Apr 14, 2026•nEye, M12, CapitalG, Sutter Hill Ventures and 3 others
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US startup NeuBird raises $19.3m to scale AI for IT operationsTech in Asia•Apr 07, 2026•NeuBird, StepStone Group, Prosperity7 Ventures, M12 and 9 others
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Knox Systems Raises $25M in Series A FundingFinSMEs•Mar 17, 2026•Knox Systems, Benchstrength, B Capital, M12 and 4 others
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Didero Raises $30M to Expand Agentic AI for Enterprise ProcurementSiliconAngle•Feb 13, 2026•Chemistry VC, Headline, M12, Didero and 4 others
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Entire Launches with $60M to Build an AI-Focused Code Management PlatformSiliconAngle•Feb 11, 2026•Madrona, Microsoft, Felicis Ventures, Entire and 8 others
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AI Chip Startup Neurophos Secures $110M to Enhance AI Compute with PhotonicsSiliconAngle•Jan 22, 2026•Neurophos, Robert Bosch Venture Capital, Carbon Direct Capital, Aramco Ventures and 18 others
