Total amount raised
$120 Millions
Latest funding date
Location
Affinity has successfully raised $13.5 million in funding, leveraging its relationship intelligence platform to transform traditional CRM systems. The platform uses AI and natural language processing to help teams curate and grow their networks, enhancing deal flow and unlocking introductions to key decision-makers.
Keep reading to explore the intricacies of Affinity's fundraising journey and the investors backing this innovative platform.
What Is Affinity?
Founded in 2014, Affinity is a San Francisco-based company specializing in relationship intelligence and CRM solutions. The platform leverages AI and natural language processing to help teams manage and grow their networks, making it particularly useful for private capital investment firms.
Affinity was co-founded by Drew Oetting, Ray Zhou, and Shubham Goel. The company has grown significantly since its inception and now employs between 251 and 500 people.
For more detailed information, you can visit their official website or their Crunchbase profile.
How Much Funding Has Affinity Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2015
- Lead Investors: Pear VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the relationship intelligence platform.
- Series A
- Amount Raised: $13.5M
- Date: May 2017
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform's AI capabilities.
- Series B
- Amount Raised: $26.5M
- Date: February 2019
- Lead Investors: Advance Venture Partners, Sway Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand into new markets.
- Series C
- Amount Raised: $80M
- Date: September 2021
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand sales and marketing efforts and deepen the engineering team.
Total Amount Raised: $120M. Current Valuation: Not publicly disclosed.
Key Investors
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They have been investing in technology and life sciences for over 40 years.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Uber, Roku, Warby Parker
- Advance Venture Partners
- Details: Advance Venture Partners focuses on growth-stage companies across various sectors. They aim to partner with entrepreneurs to build market-leading companies.
- Investment Focus Areas: Technology, media, commerce
- Notable Investments: Rent the Runway, MasterClass, Bellhops
- Sprints Capital
- Details: Sprints Capital invests in high-growth technology companies. They focus on long-term investments in companies with strong growth potential.
- Investment Focus Areas: Technology, internet companies
- Notable Investments: Revolut, Delivery Hero, Vinted
- Pear Ventures
- Details: Pear Ventures is an early-stage venture capital firm. They partner with founders from the earliest stages to build category-defining companies.
- Investment Focus Areas: Early-stage technology startups
- Notable Investments: DoorDash, Guardant Health, Gusto
- Sway Ventures
- Details: Sway Ventures invests in early to mid-stage technology companies. They focus on creating opportunities for growth and innovation.
- Investment Focus Areas: Early to mid-stage technology companies
- Notable Investments: Turo, Addepar, Uber
What's Next for Affinity?
Affinity is poised to capitalize on significant opportunities in sectors like investment banking, private equity, and professional services. The platform's ability to automate data input and provide actionable insights positions it well to meet the growing demand for relationship intelligence solutions. With the recent $80 million Series C funding, Affinity is set to expand its sales and marketing efforts, potentially leading to further fundraising rounds to support its ambitious growth plans.
However, the path forward is not without challenges. Affinity will need to navigate competition from other CRM and relationship intelligence platforms while ensuring data privacy and security. Additionally, scaling operations to meet the diverse needs of new sectors will require continuous innovation and a robust engineering team. Despite these hurdles, Affinity's strategic focus and strong investor backing suggest a promising future.
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