Be
Visit website%20by%20%E2%80%9EDiceBear%E2%80%9D%2C%20licensed%20under%20%E2%80%9ECC0%201.0%E2%80%9D%20(https%3A%2F%2Fcreativecommons.org%2Fpublicdomain%2Fzero%2F1.0%2F)%3C%2Fdc%3Arights%3E%3C%2Frdf%3ADescription%3E%3C%2Frdf%3ARDF%3E%3C%2Fmetadata%3E%3Cmask%20id%3D%22viewboxMask%22%3E%3Crect%20width%3D%22100%22%20height%3D%22100%22%20rx%3D%220%22%20ry%3D%220%22%20x%3D%220%22%20y%3D%220%22%20fill%3D%22%23fff%22%20%2F%3E%3C%2Fmask%3E%3Cg%20mask%3D%22url(%23viewboxMask)%22%3E%3Crect%20fill%3D%22%23d047eb%22%20width%3D%22100%22%20height%3D%22100%22%20x%3D%220%22%20y%3D%220%22%20%2F%3E%3Cg%20style%3D%22mix-blend-mode%3Ascreen%22%20opacity%3D%220.6%22%20filter%3D%22url(%23dicebearGlass-a)%22%3E%3Cg%20transform%3D%22translate(-25%20-25)%22%3E%3Cg%20transform%3D%22translate(-43%2C%2069)%20rotate(142%2075%2075)%22%3E%3Cpath%20d%3D%22M22.2%20148.7V3.2H127V35H61.7v25h59.9v32h-60v25h65.1v31.8z%22%20fill%3D%22white%22%2F%3E%3C%2Fg%3E%3C%2Fg%3E%3C%2Fg%3E%3Cg%20style%3D%22mix-blend-mode%3Ascreen%22%20opacity%3D%220.6%22%20filter%3D%22url(%23dicebearGlass-b)%22%3E%3Cg%20transform%3D%22translate(-25%20-25)%22%3E%3Cg%20transform%3D%22translate(-1%2C%2022)%20rotate(2%2075%2075)%22%3E%3Cpath%20d%3D%22M138%203.1v145.5h-33L52.5%2072h-1v76.5H12.2V3h33.5l51.7%2076.1h1.2v-76z%22%20fill%3D%22white%22%2F%3E%3C%2Fg%3E%3C%2Fg%3E%3C%2Fg%3E%3Cdefs%3E%3Cfilter%20id%3D%22dicebearGlass-a%22%20x%3D%22-57%22%20y%3D%22-57%22%20width%3D%22214%22%20height%3D%22214%22%20filterUnits%3D%22userSpaceOnUse%22%20color-interpolation-filters%3D%22sRGB%22%3E%3CfeFlood%20flood-opacity%3D%220%22%20result%3D%22BackgroundImageFix%22%2F%3E%3CfeBlend%20in%3D%22SourceGraphic%22%20in2%3D%22BackgroundImageFix%22%20result%3D%22shape%22%2F%3E%3CfeGaussianBlur%20stdDeviation%3D%2216%22%20result%3D%22effect1_foregroundBlur_25_7%22%2F%3E%3C%2Ffilter%3E%3Cfilter%20id%3D%22dicebearGlass-b%22%20x%3D%22-57%22%20y%3D%22-57%22%20width%3D%22214%22%20height%3D%22214%22%20filterUnits%3D%22userSpaceOnUse%22%20color-interpolation-filters%3D%22sRGB%22%3E%3CfeFlood%20flood-opacity%3D%220%22%20result%3D%22BackgroundImageFix%22%2F%3E%3CfeBlend%20in%3D%22SourceGraphic%22%20in2%3D%22BackgroundImageFix%22%20result%3D%22shape%22%2F%3E%3CfeGaussianBlur%20stdDeviation%3D%2216%22%20result%3D%22effect1_foregroundBlur_25_7%22%2F%3E%3C%2Ffilter%3E%3C%2Fdefs%3E%3C%2Fg%3E%3C%2Fsvg%3E)
Benchmark
Early-stage
Investment focus
Benchmark focuses on early-stage investing, typically leading the first institutional round of funding and taking board seats, with a flat equal-partnership structure where returns are driven by investment performance rather than management fees.
Founded1995
HQSan Francisco, California
RegionUS · SF Bay
StagesSeed · Series A · Series B
Check size$5M–$25M
Sectors
MarketplaceConsumerEnterpriseSaaS
Notable portfolio
eBayUberSnapTwitterInstagramDiscordDropboxZendesk
Recent activity (2025–26)
- Manus (led $75M Series B, April 2025; acquired by Meta for $2B+ in December 2025)
- Sierra (AI customer experience platform; Benchmark investor via 2020 fund, raised $950M at $15B valuation May 2026)
- Mercor (AI hiring platform; Benchmark participated in $350M Series C at $10B valuation, October 2025)
