About Northzone
Northzone is a venture capital firm founded in 1996. It is primarily based out of London, United Kingdom. As of Sep 2026, Northzone is an active investor, having invested in 214 companies, with 13 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 Consumer. Most recently it participated in the $***** Series A round of Rayon Overall, Northzone portfolio has seen 11 unicorns, 11 IPOs and 63 acquisitions including key companies like RingCentral, Spotify and Avito. A lot of funds co-invest with Northzone, with names like Accel sharing a substantial percentage of its portfolio. Northzone has team of 19 people including 10 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 9 more
Portfolio IPOs
Portfolio Acquisitions
Deals in last 12 months
Northzone's List of Top Investments
Northzone has a portfolio of 214 companies, including 11 unicorns. Their most notable investments are in Silex Microsystems and Mimo.Their portfolio spans across United States, Sweden, United Kingdom and 21 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 29 other sectors, across stages such as Series A, Seed and 9 more. Here is the list of top investments by Northzone:1. RingCentral
Cloud based platform offering unified communication solutions. It offers products with features including video and audio conferencing, team messaging, screen or file sharing, online meeting management, real-time analytics, and live reports. The company caters to industries such as health care, education, finance, retail, government, nonprofit organizations, etc. It enables user access on a subscription-based pricing model.
Key facts about RingCentral
- Founded Year: 1999
- Location: Belmont (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $44M
- Employee Count: 6,671 as on Aug 31, 2026
- Investors: Adams Street Partners, GIC and 59 Others
- Latest Funding Round: Post IPO, Oct 14, 2022, $*****
- Highlight: Acquired
2. Spotify
Provider of a platform for streaming digital music and podcasts. The platform allows users to listen to a wide variety of audio content. It is accessible via web browsers and dedicated applications.
Key facts about Spotify
- Founded Year: 2006
- Location: Stockholm (Sweden)
- Annual Revenue: €1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $2.06B
- Employee Count: 19,363 as on Jul 31, 2026
- Investors: ADS Ventures, 2020 Ventures and 127 Others
- Latest Funding Round: Post IPO, Feb 10, 2023, $*****
- Highlight: Public
3. Avito
Online marketplace platform offering multi-category second-hand products. Its product catalog includes pet supplies, automobiles, fashion, stationery, property, electronics, beauty, home products, and more. Its mobile application is available on Android and iOS platforms.
Key facts about Avito
4. Klarna
Developer of an online platform for point-of-sale financing. It enables users to purchase products within the partnered merchant network and split the cost of the purchase from the stores into interest-free payments and also works in-store. It also enables users to make instalment payments by credit or debit cards on retail purchases, receive price changes, and deal alerts. Its mobile application is available on Android and iOS platforms.
Key facts about Klarna
- Founded Year: 2005
- Location: Stockholm (Sweden)
- Stage: Public
- Total Funding till date: $4.19B
- Employee Count: 4,634 as on Aug 31, 2026
- Investors: Silver Lake, equitywestsecurities.com and 139 Others
- Latest Funding Round: Conventional Debt, Aug 21, 2025, $*****
- Highlight: Public
5. FuboTV
Operator of streaming platforms providing live sports, news, and entertainment. The platforms deliver programming through user experience offering choice, flexibility, and value. The company focuses on computer vision technology to innovate on a global scale.
Key facts about FuboTV
- Founded Year: 2015
- Location: New York City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $151M
- Employee Count: 707 as on Sep 30, 2026
- Investors: Advantas Capital Ventures, Luminari Capital and 19 Others
- Latest Funding Round: Post IPO, Feb 16, 2021, $*****
- Highlight: Acquired
Northzone's Year-on-Year Investment Trends
Northzone has invested in 216 companies over the last 24 years, with an average of 12 new investments annually in the last 10 years. In 2025, it made 30 investments, while as of Sep 2026, it has made 16 investments in this year. Its most recent first time investment was in Agon and most recent follow-on round was in Rayon.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 7 | 9 | 16 |
2025 | 18 | 12 | 30 |
2024 | 16 | 8 | 24 |
2023 | 7 | 11 | 18 |
2022 | 19 | 10 | 29 |
2021 | 11 | 19 | 30 |
2020 | 6 | 15 | 21 |
2019 | 7 | 18 | 25 |
2018 | 9 | 12 | 21 |
2017 | 14 | 11 | 25 |
Northzone's Investments by Stage
Northzone is primarily an Early Stage Investor investor majorly investing in Series A (99) rounds where average round size is $1.39B, Seed (48) rounds where average round size is $506M and Series B (27) rounds where average round size is $1.26B.Stage of entry | No. of Investments |
|---|---|
Series A | 99 |
Seed | 48 |
Series B | 27 |
Series C | 7 |
Angel | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Northzone's Investments by Sector
Northzone has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, High Tech and Vertical SaaS. Notably, it has invested in 192 Tech companies, 144 Enterprise (B2B) companies, 120 Software companies and at least 76 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 86 |
Consumer | 46 |
FinTech | 34 |
High Tech | 28 |
Vertical SaaS | 23 |
Others | 216 |
Note: We have considered here, only first round of investments
Northzone's Investments by Geography
Northzone has made most investments in United States (54), followed by Sweden where it has made 33 investments.Country | No. of Investments |
|---|---|
United States | 54 |
Sweden | 33 |
United Kingdom | 25 |
Germany | 17 |
Norway | 12 |
Others | 48 |
Note: We have considered here, only first round of investments
Northzone's recent investments
Northzone has made 16 investments in 2026 so far. Rayon and Tandem Health are the latest among them.Here are the most recent investments by Northzone:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 29, 2026 | France | Series A | 7704 | [+2] | |
Sep 14, 2026 | Sweden | Series B | 9994 | [+3] | |
Jul 28, 2026 | United Kingdom | Seed | 5579 | [+1] | |
Jul 22, 2026 | United States | Seed | 8789 | [+2] | |
Jul 20, 2026 | United Kingdom | Series B | 4668 | [+16] |
Unicorns in Northzone's Portfolio
Northzone has 11 unicorns in its portfolio - CuspAI, Blitzy, XBOW and others. The most recent unicorn in their portfolio is CuspAI. It became a unicorn in 2026, 2 years after Northzone first invested in it.Here is a list of unicorns in Northzone's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
63 | Developer of artificial intelligence systems for accelerated industrial materials discovery | 2024 | Cambridge | Series B | qfnxroy | ||
64 | AI powered IT application development platform | 2023 | Cambridge | Series B | iysbvck | ||
66 | AI-powered autonomous penetration testing platform | 2024 | Seattle | Series C | mffngrs | ||
63 | Frontier AI lab building visual infrastructure for tomorrow's creative reality | 2024 | Wilmington | Series B | avwjaka | ||
74 | Provider of electric and autonomous freight transportation solutions | 2016 | Stockholm | Series E | vjqdbph |
IPOs and Publicly Listed companies in Northzone's Portfolio
11 of Northzone's portfolio companies have become public. Silex Microsystems got listed on the Stockholm Stock Exchange (STO), in May 2026 at marketcap of $3.33B and Klarna got listed on the New York Stock Exchange (NYSE) at marketcap of $15.1B.Here are Northzone's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 07, 2026 | Jul 23, 2008 | Series B | 8724 | |
Sep 10, 2025 | - | - | 8346 | |
Mar 23, 2021 | Sep 20, 2011 | Series A | 1201 | |
Apr 06, 2018 | 2007 | Series A | 1651 | |
Apr 24, 2015 | May 21, 2009 | Series B | 5856 |
Acquired companies in Northzone's Portfolio
63 companies from Northzone's portfolio have been acquired. The most recent acquisition was OpenZeppelin in Sep 2026 by S&P Global for $*****.Here are Northzone's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 17, 2026 | - | - | 3387 | |
Sep 09, 2026 | Nov 30, 2021 | Seed | 5189 | |
Jul 02, 2026 | Jul 18, 2022 | Seed | 7043 | |
Oct 29, 2025 | Jun 19, 2017 | Series C | 8481 | |
Oct 28, 2025 | Oct 22, 2019 | Series A | 9177 |
Team profile of Northzone
Northzone has a team of 19 members including 10 Partners and 5 Principals located in United Kingdom, United States and 4 more locations. Northzone's team sits on the board of 4 companies.Here is a list of top team members in Northzone:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Amsterdam | - | ||
Partner | Stockholm | - | - | |
Partner | Oslo | - | - | |
Partner | Oslo | - | ||
Partner | Brooklyn | - | ||
Partner | London | Nested and MarketFinance | - | |
Partner | London | - | ||
Partner | London | - | ||
Partner | - | - | - |
Co-investors of Northzone
Over the past 24 years, 1318 investors have co-invested in Northzone's portfolio companies. This includes funds and angels.
- Invested before Northzone: Accel, Europa and 361 others have invested in rounds before Northzone. There are 6 companies where Accel has invested before Northzone and 4 companies where Europa has invested before Northzone.
- Top Co-investors of Northzone: 487 investors entered a company along with Northzone. These include investors like Accel (5 companies).
- Invested after Northzone: A total of 468 investors have invested in Northzone's portfolio after their investments. Top Investors include Europa (7 companies), Tiger Global Management (5 companies) and EIC Fund (5 companies).
Recent News related to Northzone
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Rayon lands €10M from Partech to bring AI and 3D into interior design softwareTech Funding News•Sep 29, 2026•PAR Technology Corp, Rayon, Partech Partners, Seedcamp and 2 others
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MicroAGI Secures $55 Million Seed Funding for Robot Training Softwaremanager magazin•Jul 16, 2026•MicroAGI, Hummingbird Ventures, Village Global, LocalGlobe and 2 others
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spektr Launches spektrQ to Answer Compliance's Hardest AI Question: Where to StartThe Associated Press•Jun 24, 2026•Spektr, Seedcamp, Nea, Northzone
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Blitzy Raises $200M at $1.4B Valuation to Deploy Thousands of Coding Agents in ParallelSiliconAngle•May 05, 2026•Blitzy, Northzone, PSG, Battery Ventures and 5 others
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Sona Raises $45M Series B to Bring AI to the Frontline Economyintelligence360•Apr 20, 2026•N47, Italianfoundersfund.com, Gradient Ventures, Felicis Ventures and 2 others
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spektr Raises $20M Series A FundingFinSMEs•Apr 16, 2026•Spektr, Northzone, New Enterprise Associates, PSV Deeptech and 1 other
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FX payments startup OpenFX raises $94 million from Accel, othersViestories•Apr 01, 2026•OpenFX, M13 Company, Pantera Capital, Lightspeed Venture Partners and 4 others
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Sona Raises $45M Series B to Bring AI to the Frontline EconomyTMC•Apr 01, 2026•N47, Felicis Ventures, Sona, Italianfoundersfund.com and 3 others
