# Metal funding: rounds and investors > Metal has raised $31M across 3 rounds since 2025. Investors include Y Combinator, Base10 Partners and Andreessen Horowitz. Every round with its source. Source: https://millionrounds.com/company/metal (Millionrounds; every figure on the page links to its filing or article) United States · [Venture startup](https://millionrounds.com/companies) # Who invested in *Metal* 3 rounds we have observed, with the 11 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. AI SaaS Software Raised 2 months ago Y Combinator: W23 Follow Metal and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fmetal) Funding summary Updated 5 Nov 2026 **$31M** raised across 3 rounds since 2025, from 5 sources **$5.0M** Seed **$26M** Venture - **Latest round:** Venture, $26M Sept 2026 - **Step-up i:** 5.3× - **Investors:** 11 (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. 2026 **$5.0M** Seed **?** Venture **$26M** Venture - **First round:** Seed, $5.0M - **Biggest round:** $26M - **Usual gap between rounds:** 8 months ## The rounds - **Sept 2026** Venture **$26M** No investor was named in the report. Source recorded - **Jun 2026** Venture **Amount undisclosed** *3 new* *1 returning* [Y Combinator](https://millionrounds.com/fund/y-combinator) [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) Source recorded - **Sept 2025** Seed **$5.0M** *8 new* [Base10 Partners](https://millionrounds.com/fund/base10-partners) Lead [Y Combinator](https://millionrounds.com/fund/y-combinator) [FJ Labs](https://millionrounds.com/fund/fj-labs) [FirstMark](https://millionrounds.com/fund/firstmark) [Shunwei Capital](https://millionrounds.com/fund/shunwei-capital) [Innoangel Fund](https://millionrounds.com/fund/innoangel-fund) [Yonghua Capital](https://millionrounds.com/fund/yonghua-capital) [Chapter One Ventures](https://millionrounds.com/fund/chapter-one) Reported by AlleyWatch and 2 others ## 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. **Seed** 2025 **Venture** 2026 **Venture** 2026 [Y Combinator](https://millionrounds.com/fund/y-combinator) [Base10 Partners](https://millionrounds.com/fund/base10-partners) L [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [FJ Labs](https://millionrounds.com/fund/fj-labs) [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) [FirstMark](https://millionrounds.com/fund/firstmark) [Shunwei Capital](https://millionrounds.com/fund/shunwei-capital) [Innoangel Fund](https://millionrounds.com/fund/innoangel-fund) [Yonghua Capital](https://millionrounds.com/fund/yonghua-capital) ## Everyone who backed them [Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **2** rounds [Base10 Partners](https://millionrounds.com/fund/base10-partners) VC firm **1** round, led 1 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) VC firm **1** round [FJ Labs](https://millionrounds.com/fund/fj-labs) VC firm **1** round [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) Private equity **1** round [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) VC firm **1** round [FirstMark](https://millionrounds.com/fund/firstmark) VC firm **1** round [Shunwei Capital](https://millionrounds.com/fund/shunwei-capital) VC firm **1** round [Innoangel Fund](https://millionrounds.com/fund/innoangel-fund) VC firm **1** round [Yonghua Capital](https://millionrounds.com/fund/yonghua-capital) VC firm **1** round [Chapter One Ventures](https://millionrounds.com/fund/chapter-one) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=metal). ## Also claim to have backed them These 3 firms list Metal as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Phaze Ventures](https://millionrounds.com/fund/phaze-ventures) Accelerator Per its own site [Indus Valley Capital](https://millionrounds.com/fund/indus-valley-capital) VC firm Per its own site [AngelsBand](https://millionrounds.com/fund/angelsband) Angel network Per its own site ## Quick answers about Metal ### Who invested in Metal? Metal's investors include Y Combinator, Base10 Partners, Andreessen Horowitz, FJ Labs and Pioneer Fund, and 6 more on record. ### How much has Metal raised? Metal has raised $31M across 3 rounds since 2025. One round did not disclose an amount, so the total is a floor. ### When did Metal last raise? Metal's most recent round was a Venture of $26M in Sept 2026. ### What was Metal's biggest round? Its most recent round, $26M in Sept 2026, is also its largest on record. ### Who backed Metal first? Metal's first round on record, in Sept 2025, was backed by Base10 Partners, Y Combinator and FJ Labs and 5 others. ### What stage is Metal at? Metal's latest named round is a Venture, in Sept 2026. ### Where is Metal based? Metal is based in the United States. ### Who led Metal's rounds? Base10 Partners led the Seed in 2025. ## Companies like Metal In the same sector, and raised in the last eighteen months. [**Journify** $12M · Nov 2026](https://millionrounds.com/company/journify)[**Nooks** $543M · Nov 2026](https://millionrounds.com/company/nooks)[**Laza Medical** $160M · Nov 2026](https://millionrounds.com/company/laza-medical)[**e2e** $8.0M · Nov 2026](https://millionrounds.com/company/e2e)[**Guava** $13M · Nov 2026](https://millionrounds.com/company/guava)[**Applied Compute** $580M · Nov 2026](https://millionrounds.com/company/applied-compute) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app