Who invested in Zubale

2 rounds we have observed, with the 12 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.

Advertising & AdtechConsumer AppsMartech

Funding summaryUpdated 26 Oct 2026

$29Mraised across 2 rounds since 2019, from 2 sources

$4.4MRound$25MSeries A

Latest round: Series A, $25MNov 2023
Step-upi: 5.7×
Investors: 12 (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.

2020202120222023

$4.4MRound$25MSeries A

First round: Round, $4.4M
Biggest round: $25M
Between rounds: 4 years

The rounds

Nov 2023
Series A$25M5 new1 returning
Source recorded
Oct 2019
Round$4.4M7 new
- NFXLead
- Liquid 2 Ventures
- Industry Ventures
- Jonathan Swanson
- Bob White
- Sergio Romo
- XFactor Fund
Reported by TechCrunch

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.

Round2019Series A2023

NFXL

Industry VenturesJonathan SwansonBob White

Everyone who backed them

Liquid 2 VenturesVC firm2rounds

NFXVC firm1round, led 1

GaingelsPrivate equity1round

FelicisVC firm1round

FlybridgeVC firm1round

QED InvestorsVC firm1round

Pear VCVC firm1round

Industry VenturesVC firm1round

Jonathan SwansonAngel1round

Bob WhiteAngel1round

Sergio Romono record of our own yet1round

XFactor Fundno record of our own yet1round

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

Also claim to have backed them

These 2 firms list Zubale 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.