About Matrix
Matrix is a venture capital firm founded in 1977. It is primarily based out of San Francisco, United States. As of Mar 2026, Matrix is an active investor, having invested in 400 companies, with 14 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series C round of Mevo Overall, Matrix portfolio has seen 16 unicorns, 27 IPOs and 168 acquisitions including key companies like HubSpot, DiDi and Zendesk. A lot of funds co-invest with Matrix, with names like North Bridge Venture Partners sharing a substantial percentage of its portfolio. Matrix has team of 38 people including 22 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 8 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Matrix's List of Top Investments
Matrix has a portfolio of 400 companies, including 16 unicorns. Their most notable investments are in Qidi Technology and Huangbaoche.Their portfolio spans across United States, China, India and 15 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 35 other sectors, across stages such as Series A, Series B and 8 more. Here is the list of top investments by Matrix:
1. HubSpot
Provider of a platform offering marketing, sales, and customer service software. The platform provides tools for marketing automation, sales management, and customer support. It offers an CRM as its core, integrating various hubs such as Marketing Hub, Sales Hub, Service Hub, CMS Hub, Operations Hub, and Commerce Hub, each providing specialized tools to enhance different aspects of customer management and business operations. Key features include a robust CRM supporting contact and deal management, email tracking, marketing email creation, and meeting scheduling.
Key facts about HubSpot
- Founded Year: 2005
- Location: Cambridge (United States)
- Annual Revenue: $2.63B as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $101M
- Employee Count: 11,991 as on Mar 31, 2026
- Investors: Cross Creek, Fidelity Investments and 22 Others
- Latest Funding Round: Post IPO, Jun 02, 2020, $*****
- Highlight: Public
2. DiDi
AI-enabled platform for ride-hailing and on-demand services. The platform enables various services for ride-hailing, food delivery, bike-sharing, payment solutions, and more. It also offers various solutions including autonomous driving, traffic management, driver safety management, and more.
Key facts about DiDi
- Founded Year: 2012
- Location: Beijing (China)
- Stage: Public
- Total Funding till date: $20.8B
- Employee Count: 32,242 as on Mar 31, 2026
- Investors: Silver Lake, Syren Capital Advisors and 97 Others
- Latest Funding Round: Post IPO, Oct 12, 2023, $*****
- Highlight: Public
3. Canva
Cloud-based collaborative design platform. It enables users to create various digital content, including social media posts, presentations, and videos, through its drag-and-drop editor. The platform provides access to thousands of templates, photos, and fonts, and offers AI-powered tools for users to enhance design abilities. It allows users to edit images for presentations, invitations, posters, flyers, business cards, and more. The platform offers pre-designed templates and effects. It also provides a stock library of photographs, illustrations, and images.
Key facts about Canva
- Founded Year: 2012
- Location: Surry Hills (Australia)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $589M
- Employee Count: 14,588 as on Mar 31, 2026
- Investors: Dragoneer Investment Group, Next Round Capital and 53 Others
- Latest Funding Round: Series F, May 01, 2024, $*****
- Highlight: Editors' Pick
4. Zendesk
Cloud based customer service and engagement platform for businesses. The platform integrates with the helpdesk backend systems and streamlines customer support with ticket views, triggers, and automation using products such as help center, insight, and analytics. It provides self-service solutions by leveraging a knowledge base and community forums.
Key facts about Zendesk
- Founded Year: 2007
- Location: San Francisco (United States)
- Annual Revenue: $1.34B as on Dec 31, 2021
- Stage: Acquired
- Total Funding till date: $89.1M
- Employee Count: 6,784 as on Mar 31, 2026
- Investors: Veyo Partners, IVP and 21 Others
- Latest Funding Round: Post IPO, Jun 12, 2020, $*****
- Highlight: Acquired
5. Apple
Technology company and product innovator developing consumer electronics. The firm designs smartphones, personal computers, tablets, wearables, and related hardware alongside proprietary operating systems and productivity applications. It provides integrated ecosystems including cloud computing, digital media distribution, payment processing, and enterprise software solutions. Services encompass content streaming platforms, mobile app marketplaces, augmented reality frameworks, and professional creative software suites. Continuous platform evolution maintains seamless hardware-software integration across personal computing and professional segments.
Key facts about Apple
- Founded Year: 1976
- Location: Cupertino (United States)
- Annual Revenue: $391B as on Sep 28, 2024
- Stage: Public
- Employee Count: 173,009 as on Mar 31, 2026
- Investors: Black Capital Investments, Berkshire Hathaway and 37 Others
- Latest Funding Round: Post IPO, Dec 25, 2020, $*****
- Highlight: Public
Matrix's Year-on-Year Investment Trends
Matrix has invested in 402 companies over the last 34 years, with an average of 15 new investments annually in the last 10 years. In 2025, it made 23 investments, while as of Mar 2026, it has made 3 investments in this year. Its most recent first time investment was in Giant and most recent follow-on round was in Mevo.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 1 | 3 |
2025 | 15 | 8 | 23 |
2024 | 11 | 1 | 12 |
2023 | 9 | 3 | 12 |
2022 | 27 | 7 | 34 |
2021 | 17 | 12 | 29 |
2020 | 16 | 8 | 24 |
2019 | 10 | 9 | 19 |
2018 | 19 | 14 | 33 |
2017 | 16 | 13 | 29 |
Matrix's Investments by Stage
Matrix has made 129 investments in Series A stage with an average round size of $12.1M, 80 investments in Series B stage with an average round size of $22.6M and 57 investments in Seed stage with an average round size of $4.06M.Stage of entry | No. of Investments |
|---|---|
Series A | 129 |
Series B | 80 |
Seed | 57 |
Series C | 32 |
Series D | 5 |
Others | 10 |
Note: We have considered here, only first round of investments
Matrix's Investments by Sector
Matrix has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, Enterprise Infrastructure, High Tech and FinTech. Notably, it has invested in 337 Tech companies, 283 Enterprise (B2B) companies, 210 Software companies and at least 114 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 151 |
Consumer | 67 |
Enterprise Infrastructure | 63 |
High Tech | 54 |
FinTech | 38 |
Others | 307 |
Note: We have considered here, only first round of investments
Matrix's Investments by Geography
Matrix has made most investments in United States (231), followed by China where it has made 38 investments.Country | No. of Investments |
|---|---|
United States | 231 |
China | 38 |
India | 15 |
Canada | 6 |
United Kingdom | 6 |
Others | 17 |
Note: We have considered here, only first round of investments
Matrix's recent investments
Matrix has made 3 investments in 2026 so far. Mevo and Giant are the latest among them.Here are the most recent investments by Matrix:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 30, 2026 | Brazil | Series C | 5872 | [+2] | |
Feb 23, 2026 | United Kingdom | Seed | 3268 | [+6] | |
Jan 21, 2026 | United States | Series A | 8569 | [+4] | |
Dec 23, 2025 | - | Seed | 7662 | [+3] | |
Dec 10, 2025 | United States | Seed | 7185 | [+2] |
Unicorns in Matrix's Portfolio
Matrix has 16 unicorns in its portfolio - Luma AI, Lightmatter, Mashgin and others. The most recent unicorn in their portfolio is Luma AI. It became a unicorn in 2025, 4 years after Matrix first invested in it.Here is a list of unicorns in Matrix's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Developer of artificial intelligence models for image and video generation | 2021 | Palo Alto | Series C | qszpxwz | ||
70 | Developer of photonic interconnects and co-packaged optics for AI infrastructure | 2017 | Boston | Series D | buuvdfk | ||
63 | Developer of an AI-powered platform for streamlining retail checkout processes | 2013 | Palo Alto | Series B | metsshq | ||
61 | Product content management and syndication platform for businesses | 2012 | Boston | Series F | odmhbvd | ||
63 | Provider of software delivery platform for continuous integration and continuous delivery | 2010 | San Jose | Series F | {lxztwo |
IPOs and Publicly Listed companies in Matrix's Portfolio
27 of Matrix's portfolio companies have become public. DistinctClinic got listed on the Hong Kong Exchanges (HKG), in Feb 2026 at marketcap of $549M and SanDisk got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ).Here are Matrix's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 06, 2026 | Apr 14, 2015 | Series B | 6775 | |
Feb 24, 2025 | - | - | 6199 | |
Dec 23, 2024 | - | - | 9421 | |
Aug 10, 2021 | Jun 01, 2008 | Series A | 8933 | |
Jun 30, 2021 | - | - | 8659 |
Acquired companies in Matrix's Portfolio
168 companies from Matrix's portfolio have been acquired. The most recent acquisition were Care.com in Mar 2026 by Pacific Avenue Capital Partners.Here are Matrix's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 02, 2026 | Jul 2007 | Series A | 5909 | |
Feb 19, 2026 | Jun 16, 2023 | Seed | 7688 | |
Sep 22, 2025 | Feb 22, 2023 | Series C | 1262 | |
May 16, 2025 | Jan 31, 2023 | Series B | 1331 | |
May 06, 2025 | Nov 03, 2021 | Seed | 1594 |
Team profile of Matrix
Matrix has a team of 38 members including 22 Partners, 2 Venture Partners and 6 Principals located in China, United States and 1 more location. Matrix's team sits on the board of 6 companies.Here is a list of top team members in Matrix:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Waltham | |||
Partner | Cambridge | |||
Partner | San Francisco | |||
Partner | Park City | - | ||
Partner | San Francisco | Apartment List and Side | ||
Partner | Waltham | - | ||
Partner | Palo Alto | |||
Partner | Shanghai | - | ||
Partner | Beijing | - | ||
Partner | Chaoyang | - | ||
Partner | Chaoyang | - |
Co-investors of Matrix
Over the past 34 years, 1856 investors have co-invested in Matrix's portfolio companies. This includes funds and angels.
- Invested before Matrix: Y Combinator, Matrix Partners China and 491 others have invested in rounds before Matrix. There are 23 companies where Y Combinator has invested before Matrix and 10 companies where Matrix Partners China has invested before Matrix.
- Top Co-investors of Matrix: 616 investors entered a company along with Matrix. These include investors like North Bridge Venture Partners (27 companies).
- Invested after Matrix: A total of 747 investors have invested in Matrix's portfolio after their investments. Top Investors include Google Ventures (10 companies), Matrix Partners China (9 companies) and Goldman Sachs (7 companies).
Recent News related to Matrix
•
CREAO AI Completes Multi-Million Dollar Funding RoundCoinTime•Apr 14, 2026•Creao, LISI, Sequoia Capital, Matrix and 7 others
•
Giant Raises $8 Million to Build Storytelling Platform for KidsTechStartups.com•Feb 23, 2026•Arbitrum Gaming Ventures, Perceptive Ventures, Matrix, Decasonic and 5 others
•
BoldVoice Raises $21 Million To Expand AI Speech CoachingVentureburn•Jan 29, 2026•Umami Capital, Alumni Ventures, Bold Voice, Y Combinator and 4 others
•
•
RadixArk, the startup behind open source AI tool SGLang, valued at $400MTechCrunch+•Jan 22, 2026•Accel, Matrix, Cosmos, Shine Capital and 2 others
•
Cosmos Raises $15M in Series A FundingFinSMEs•Jan 21, 2026•Cosmos, Shine Capital, Matrix, Plug and Play Tech Center and 3 others
•
Lemon Slice Secures $10.5M Seed Funding to Advance Interactive AI AvatarsSiliconAngle•Dec 24, 2025•Lemon Slice, Matrix, Y Combinator, THE CHAINSMOKERS
•
Noitom Robotics Secures Pre-A+ Round Led by Qiming Venture Partners to Scale Data Infrastructure BusinessPandaily•Dec 22, 2025•Inno Angel Fund, Qiming Venture Partners, Legend, Noitomrobotics and 2 others
•
Surf AI-Driven Digital Asset Analysis Platform Secures $15 Million Funding RoundCryptobreaking•Dec 11, 2025•Pantera Capital, Coinbase, Surf, Digital Currency Group and 41 others
•
Channel3 Secures $6M Seed Funding to Enhance AI Agent Product DiscoverySiliconAngle•Dec 10, 2025•Matrix, Channel Three Productions, Matrix
