South Africa · Series B startup

Who invested in Flow

11 rounds we have observed, with the 24 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.

AIB2BBig Data & AnalyticsBiotech

Funding summaryUpdated 5 Nov 2026

$173Mraised across 11 rounds since 2015, from 12 sources

$37MSeries B$100MSeries B
Latest round
Series B, $100MApr 2025
Step-upi
16.7×
Investors
24 (1 led)
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.

20172019202120232025
$1.2MRound$16MSeries A$1.5MRound$1.5MRound?Venture$3.8MSeed$4.5MPre-seed$6.0MVenture$100MSeries B
First round
Round, $1.2M
Aug 2015
Biggest round
$100M
Series B · Apr 2025
Usual gap between rounds
9 months
the median of 10

The rounds

  1. Apr 2025
    Series B$100M1 new

    Reported by TechCrunch

  2. Aug 2024
    Venture$6.0M3 new

    Source recorded

  3. Jan 2023
  4. Jun 2022
    Seed$1.1M

    No investor was named in the report.

    Source recordedSEC filing: $475K sold, first sale Feb 2022

  5. Apr 2022
    Seed$3.8M1 new

    Source recordedSEC filing: $475K sold, first sale Feb 2022

  6. Jan 2022
    VentureAmount undisclosed4 new

    Source recordedSEC filing: $475K sold, first sale Feb 2022

  7. Dec 2019
    Series B$37M6 new1 returning

    Reported by FinSMEs and 1 otherSEC filing: $37M sold, first sale Sept 2019

  8. Jul 2019
    Round$1.5M1 new

    Reported by Tech.eu

  9. Jan 2019
    Round$1.5M1 new

    Reported by Digestafrica

  10. Apr 2017
    Series A$16M2 new

    Reported by FinSMEs

  11. Aug 2015
    Round$1.2M

    No investor was named in the report.

    From a historical funding record

Founders and team

From Flow's own website: 1 founder.

David FisherCo-founder, 9Yards Capital

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.

Everyone who backed them

Forerunner VenturesVC firm2rounds
Futuregrowth Asset ManagementVC firm1round, led 1
Andreessen HorowitzVC firm1round
Khosla VenturesVC firm1round
BoxGroupVC firm1round
LocalGlobeVC firm1round
Valor Capital GroupVC firm1round
Eleven VenturesVC firm1round
HOF CapitalVC firm1round
CoinFundVC firm1round
GFR FundVC firm1round
SNZ HoldingVC firm1round
Buffet InvestmentsVC firm1round
Latitude VenturesVC firm1round
Steven HeilbronVC firm1round
Vunani Fintech FundVC firm1round
Bain Capital Ventures/ Fungno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Quick answers about Flow

Who invested in Flow?

Flow's investors include Forerunner Ventures, Kalon Venture Partners, Futuregrowth Asset Management, Andreessen Horowitz and New Enterprise Associates, and 19 more on record.

How much has Flow raised?

Flow has raised $173M across 11 rounds since 2015. One round did not disclose an amount, so the total is a floor.

When did Flow last raise?

Flow's most recent round was a Series B of $100M in Apr 2025.

What was Flow's biggest round?

Its most recent round, $100M in Apr 2025, is also its largest on record.

Who backed Flow first?

Flow's first round on record, in Apr 2017, was backed by Forerunner Ventures and Bain Capital Ventures/ Fung.

What stage is Flow at?

Flow's latest named round is a Series B, in Apr 2025.

Where is Flow based?

Flow is based in South Africa.

Who led Flow's rounds?

Futuregrowth Asset Management led the Pre-seed in 2023.

Companies like Flow

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

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