# Circulate funding: rounds and investors

> Circulate has raised $1.5M across 2 rounds since 2021. Investors include Khosla Ventures, Antler and Scrum Ventures. Every round with its source.

Source: https://millionrounds.com/company/circulate (Millionrounds; every figure on the page links to its filing or article)

Sweden · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Circulate*

2 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

B2B

Raised 11 months ago

Funding summary Updated 26 Oct 2026

**$1.5M** raised across 2 rounds since 2021, from 2 sources

- **Latest round:** Venture Dec 2025
- **Biggest round:** $1.5M Pre-seed · Sept 2021
- **Investors:** 4

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2022 2023 2024 2025

**$1.5M** Pre-seed

**?** Venture

- **First round:** Pre-seed, $1.5M
- **Biggest round:** $1.5M
- **Between rounds:** 4.3 years

## The rounds

- **Dec 2025** Venture **Amount undisclosed** *2 new* [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) [Scrum Ventures](https://millionrounds.com/fund/scrum-ventures) Source recorded SEC filing: $13M sold, first sale Jun 2025
- **Sept 2021** Pre-seed **$1.5M** *2 new* [Antler](https://millionrounds.com/fund/antler) [J12 Ventures](https://millionrounds.com/fund/j12) Source recorded

## Founders and team

From Circulate's own website: 2 on the team.

- **Karolina Ling-Vannerus** CEO
- **Lars Jacobsson** CTO

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Pre-seed** 2021 **Venture** 2025 [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) [Antler](https://millionrounds.com/fund/antler) [Scrum Ventures](https://millionrounds.com/fund/scrum-ventures) [J12 Ventures](https://millionrounds.com/fund/j12)

## Everyone who backed them

[Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) VC firm **1** round

[Antler](https://millionrounds.com/fund/antler) VC firm **1** round

[Scrum Ventures](https://millionrounds.com/fund/scrum-ventures) VC firm **1** round

[J12 Ventures](https://millionrounds.com/fund/j12) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=circulate).

## Quick answers about Circulate

### Who invested in Circulate?

Circulate's investors include Khosla Ventures, Antler, Scrum Ventures and J12 Ventures.

### How much has Circulate raised?

Circulate has raised $1.5M across 2 rounds since 2021. One round did not disclose an amount, so the total is a floor.

### When did Circulate last raise?

Circulate's most recent round was a Venture in Dec 2025.

### What was Circulate's biggest round?

Circulate's largest round on record is $1.5M (Pre-seed), in Sept 2021.

### Who backed Circulate first?

Circulate's first round on record, in Sept 2021, was backed by Antler and J12 Ventures.

### What stage is Circulate at?

Circulate's latest named round is a Venture, in Dec 2025.

### Where is Circulate based?

Circulate is based in Sweden.

## Companies like Circulate

In the same sector, and raised in the last eighteen months.

[**Tablestat.com** $500K · Jan 2026](https://millionrounds.com/company/tablestat-com)[**ZeroW** $417K · Oct 2026](https://millionrounds.com/company/zerow)[**MURAL** $67M · Oct 2026](https://millionrounds.com/company/mural)[**Different** $48M · Oct 2026](https://millionrounds.com/company/different)[**Blackwall** $162M · Oct 2026](https://millionrounds.com/company/blackwall)[**CapGrid** $5.4M · Oct 2026](https://millionrounds.com/company/capgrid)

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