# Variance funding: rounds and investors > Variance has raised $25M across 2 rounds since 2023. Investors include Y Combinator, 645 Ventures and Urban Innovation Fund. Every round with its source. Source: https://millionrounds.com/company/variance (Millionrounds; every figure on the page links to its filing or article) United States · [Series A startup](https://millionrounds.com/companies) # Who invested in *Variance* 2 rounds we have observed, with the 5 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 Developer Tools Regtech Raised 7 months ago Follow Variance and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fvariance) Funding summary Updated 15 Nov 2026 **$25M** raised across 2 rounds since 2023, from 3 sources **$3.1M** Seed **$22M** Series A - **Latest round:** Series A, $22M Apr 2026 - **Led by:** Ten Eleven Ventures - **Step-up i:** 6.9× - **Investors:** 5 (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. 2024 2025 2026 **$3.1M** Seed **$22M** Series A - **First round:** Seed, $3.1M - **Biggest round:** $22M - **Between rounds:** 2.3 years ## The rounds - **Apr 2026** Series A **$22M** *2 new* *3 returning* [Ten Eleven Ventures](https://millionrounds.com/fund/ten-eleven-ventures) Lead [Y Combinator](https://millionrounds.com/fund/y-combinator) [645 Ventures](https://millionrounds.com/fund/645-ventures) [Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund) [Okta Ventures](https://millionrounds.com/fund/okta-ventures) Reported by Ventureburn and 1 other - **Dec 2023** Seed **$3.1M** *3 new* [Y Combinator](https://millionrounds.com/fund/y-combinator) [645 Ventures](https://millionrounds.com/fund/645-ventures) [Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund) Source recorded ## Funding filed with regulators Variance filed one raise, $5.1M in all. Filings say how much was sold and to how many investors; they never name the investors. - May 2019 **$5.1M** 14 investors equity SEC Form D ## Founders and team From the SEC filings it signed: 2 on the team. - **James Gross** Executive Officer, Director i - **Noah Brier** Executive Officer, Director i On the board, as filed i *Steve Schlafman* ## 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** 2023 **Series A** 2026 [Y Combinator](https://millionrounds.com/fund/y-combinator) [645 Ventures](https://millionrounds.com/fund/645-ventures) [Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund) [Ten Eleven Ventures](https://millionrounds.com/fund/ten-eleven-ventures) L [Okta Ventures](https://millionrounds.com/fund/okta-ventures) ## Everyone who backed them [Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **2** rounds [645 Ventures](https://millionrounds.com/fund/645-ventures) VC firm **2** rounds [Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund) VC firm **2** rounds [Ten Eleven Ventures](https://millionrounds.com/fund/ten-eleven-ventures) VC firm **1** round, led 1 [Okta Ventures](https://millionrounds.com/fund/okta-ventures) Corporate VC **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=variance). ## Also claim to have backed them This firm lists Variance as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Transmedia Capital](https://millionrounds.com/fund/transmedia-capital) VC firm Per its own site ## Quick answers about Variance ### Who invested in Variance? Variance's investors include Y Combinator, 645 Ventures, Urban Innovation Fund, Ten Eleven Ventures and Okta Ventures. Ten Eleven Ventures led its latest round. ### How much has Variance raised? Variance has raised $25M across 2 rounds since 2023. ### When did Variance last raise? Variance's most recent round was a Series A of $22M in Apr 2026, led by Ten Eleven Ventures. ### What was Variance's biggest round? Its most recent round, $22M in Apr 2026, is also its largest on record. ### Who backed Variance first? Variance's first round on record, in Dec 2023, was backed by Y Combinator, 645 Ventures and Urban Innovation Fund. ### What stage is Variance at? Variance's latest named round is a Series A, in Apr 2026. ### Where is Variance based? Variance is based in the United States. ### Who led Variance's rounds? Ten Eleven Ventures led the Series A in 2026. ## Companies like Variance In the same sector, and raised in the last eighteen months. 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