# Thesis funding: rounds and investors > Thesis has raised $29M across 2 rounds since 2021. Investors include Y Combinator, Andreessen Horowitz and Draper Associates. Every round with its source. Source: https://millionrounds.com/company/thesis (Millionrounds; every figure on the page links to its filing or article) United States · [Series A startup](https://millionrounds.com/companies) # Who invested in *Thesis* 2 rounds we have observed, with the 8 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. Web3 & Crypto Funding summary Updated 26 Oct 2026 **$29M** raised across 2 rounds since 2021, from 2 sources **$21M** Series A **$8.4M** Series A - **Latest round:** Series A, $8.4M May 2023 - **Biggest round:** $21M Series A · Jul 2021 - **Investors:** 8 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 **$21M** Series A **$8.4M** Series A - **First round:** Series A, $21M - **Biggest round:** $21M - **Between rounds:** 22 months ## The rounds - **May 2023** Series A **$8.4M** *2 new* [Unilever Ventures](https://millionrounds.com/fund/unilever-ventures) [XRC Ventures](https://millionrounds.com/fund/xrc-ventures) Source recorded - **Jul 2021** Series A **$21M** *6 new* [Y Combinator](https://millionrounds.com/fund/y-combinator) [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Draper Associates](https://millionrounds.com/fund/draper-associates) [Paradigm](https://millionrounds.com/fund/paradigm) [Polychain](https://millionrounds.com/fund/polychain) [ParaFi Capital](https://millionrounds.com/fund/parafi) Source recorded SEC filing: $26M sold, first sale Jun 2021 ## 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. **Series A** 2021 **Series A** 2023 [Y Combinator](https://millionrounds.com/fund/y-combinator) [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Draper Associates](https://millionrounds.com/fund/draper-associates) [Paradigm](https://millionrounds.com/fund/paradigm) [Polychain](https://millionrounds.com/fund/polychain) [Unilever Ventures](https://millionrounds.com/fund/unilever-ventures) [ParaFi Capital](https://millionrounds.com/fund/parafi) [XRC Ventures](https://millionrounds.com/fund/xrc-ventures) ## Everyone who backed them [Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **1** round [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) VC firm **1** round [Draper Associates](https://millionrounds.com/fund/draper-associates) VC firm **1** round [Paradigm](https://millionrounds.com/fund/paradigm) VC firm **1** round [Polychain](https://millionrounds.com/fund/polychain) VC firm **1** round [Unilever Ventures](https://millionrounds.com/fund/unilever-ventures) Corporate VC **1** round [ParaFi Capital](https://millionrounds.com/fund/parafi) VC firm **1** round [XRC Ventures](https://millionrounds.com/fund/xrc-ventures) Accelerator **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=thesis). ## Quick answers about Thesis ### Who invested in Thesis? Thesis's investors include Y Combinator, Andreessen Horowitz, Draper Associates, Paradigm and Polychain, and 3 more on record. ### How much has Thesis raised? Thesis has raised $29M across 2 rounds since 2021. ### When did Thesis last raise? Thesis's most recent round was a Series A of $8.4M in May 2023. ### What was Thesis's biggest round? Thesis's largest round on record is $21M (Series A), in Jul 2021. ### Who backed Thesis first? Thesis's first round on record, in Jul 2021, was backed by Y Combinator, Andreessen Horowitz and Draper Associates and 3 others. ### What stage is Thesis at? Thesis's latest named round is a Series A, in May 2023. ### Where is Thesis based? Thesis is based in the United States. ## Companies like Thesis In the same sector, and raised in the last eighteen months. [**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Binance.US** $300M · Oct 2026](https://millionrounds.com/company/binance-us)[**Fission** $10M · Oct 2026](https://millionrounds.com/company/fission)[**Ramp** $4.5B · Oct 2026](https://millionrounds.com/company/ramp) ## 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