Venture Capital

VENTURE CAPITAL

Bridging innovation and growth

Venture Capital

With over 40 years of experience and over $880 million invested across various funds, First Analysis is a leading venture capital investor in B2B tech companies. Primarily investing in North America, we target entrepreneur-driven, capital-efficient companies with proven business models and demonstrable customer successes. We partner with our portfolio companies to build for successful exits in every investment we undertake. We invest $3 to $10 million, either as a lead investor or as a syndicate partner bringing valuable insights and expertise in our focus sectors.

+
years of insights, relationships and experience
$million+
invested
funds
$3-$10 million
initial investment
+
investments
$1-$10 million
target ARR for B2B tech companies

Select portfolio companies

Healthcare IT
TPN.health

TPN.health

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TPN.health

TPN.health is creating the digital infrastructure for behavioral health. Built by clinicians for clinicians, the company established its provider network through free, accredited continuing education and professional tools that enable verified profiles and ongoing maintenance of licenses, credentials, and practice information within a single workflow. Building on this foundation, TPN supports member access through human-led care navigation and enables referral workflows that depend on current provider data and clinical fit. The result is a continuously refreshed network designed to improve provider matching, directory accuracy, and timeliness of access while strengthening measurement and visibility relevant to quality and value-based outcomes.

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Future of workSupply chain
Cycle Labs

Cycle Labs

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Cycle Labs

Cycle Labs is a software company composed of innovators committed to modernizing enterprise solution deployment and reducing risk through world-class test automation. The company encourages its customers and team members to question assumptions and pursue continuous, iterative improvement. Cycle Labs is the creator of the end-to-end Cycle® Continuous Test Automation Platform, which enables organizations to accelerate change and deliver low-risk solutions to complex problems more efficiently than ever before.

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Healthcare ITInternet of things (IoT)
Intelligent Locations

Intelligent Locations

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Intelligent Locations

Intelligent Locations pioneered the development of INTRAX™, delivering an advanced AI-powered localization platform for healthcare enterprises. Its software provides healthcare professionals with intuitive tools to track, measure and analyze assets, staff safety, patient satisfaction, operational workflows, environmental conditions and more. Headquartered in Raleigh’s Research Triangle, with a Center of Excellence in Paris, the company continuously advances its predictive analytics and machine learning capabilities.

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Cybersecurity
Gradient Cyber

Gradient Cyber

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Gradient Cyber

Gradient Cyber is a fast-growing managed extended detection and response (MXDR) provider serving the U.S. mid-market – an underserved segment of over 300,000 organizations. The company’s proprietary XDR platform, data source flexibility, 24/7 security operations center, high-context situation reports (SitReps) and industry-leading cyber analyst to customer ratio combine to deliver excellent value for resource, expertise and budget-constrained organizations. With proven traction across 35+ market verticals, Gradient Cyber is well positioned to scale even as cybersecurity becomes increasingly complex and talent constrained.

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Pharma IT
Appliedstemcell 2026

Applied StemCell

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Appliedstemcell 2026

Applied StemCell is a leading CRO/CDMO specializing in cell and gene therapy. Leveraging its proprietary TARGATT genome editing and iPSC platform, the company is dedicated to supporting clients in research, preclinical development, and clinical manufacturing for novel therapeutics. ASC is committed to offering a platform enabling significant cost reductions in cell drug development, delivering ready-to-use cell medicine, and, most importantly, saving human lives.

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Pharma IT
Sware

Sware

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Sware

Sware’s mission is to rescue life sciences companies from the grip of validation debt; the unpaid cost of release, testing, GxP, and business requirements. The Res_Q software platform offers a complete validation solution. Res_Q eliminates validation debt and ensures peace of mind in an increasingly complex technology ecosystem.

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Healthcare IT
Integrated Home Care Services Dina

Integrated Home Care Services

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Integrated Home Care Services Dina

Integrated Home Care Services is a leading national in-home benefit manager helping health plans, risk-bearing provider organizations and other plan sponsors unlock the full potential of care in the home. Integrated’s solutions are purpose-built to improve outcomes, enhance member experience, simplify administration and deliver sustained affordability while advancing payors’ value-based strategies for in-home care benefits. Integrated’s benefit management solutions include utilization management, network management, referral management, care coordination and claims processing and payment for all major care services in the home – home health, personal care, long-term services and supports, durable medical equipment and supplies, home infusion, private duty nursing, and other home-based services. Integrated supports in-home benefit management across the total member population including Medicare Advantage, Managed Medicaid, commercial, ACA, special needs plans, risk-bearing organizations, self-insured plans and others. Integrated combines over 30 years of value-based home care benefit management expertise and experienced home care specialists, and AI-enabled capabilities to support health plans and risk-based organizations wherever they are in their in-home benefit and care transformation journey – whether looking to supercharge their internal care and network management teams, partner for broader delegated benefit management support services, or pursue a hybrid approach. Integrated Home Care Services acquired First Analysis portfolio company Dina Health in 2026.

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Healthcare IT
Kno2

Kno2

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Kno2

Kno2 provides a communication platform that enables secure patient information exchange between healthcare providers, payers and patients. Traditional point-to-point healthcare data exchange systems omit many parties in care chains, increasing healthcare costs and hurting patient experience and outcomes, so healthcare stakeholders are under intense pressure to improve patient data exchange. Kno2’s unique platform, delivered via a channel-partner go-to-market strategy, solves this problem with a network that connects all parties.

Latest venture capital news

Latest Venture Capital News
Venture capital
Healthcare IT
Integrated Home Care Services Dina

First Analysis portfolio company Dina has been acquired by Integrated Home Care Services

CHICAGO – May 22, 2026 – Integrated Home Care Services, a leading in-home benefit manager helping health plans and risk-bearing organizations unlock the full potential of care in the home, has acquired First Analysis portfolio company Dina Care, a leading AI-enabled care coordination and referral management platform. As healthcare continues to shift into the home, […]
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Venture capital
CybersecurityInfrastructure tech
Bindplane Obersviq

First Analysis portfolio company Bindplane has been acquired by Dynatrace

Infrastructure technology and observability software: Dynatrace (NYSE: DT) acquired First Analysis portfolio company Bindplane, an OpenTelemetry-based software platform that helps teams collect, process and route telemetry data more efficiently. The platform supports telemetry pipeline capabilities that reduce the cost and complexity of monitoring and managing technology systems.
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Venture capital
Healthcare IT
TPN.health

First Analysis invests in behavioral health platform TPN.health

Behavioral health technology company enabling scalable care navigation, accurate provider networks, and seamless connectivity between clinicians, TPAs, employers and health plans CHICAGO – Feb. 10, 2026 – First Analysis, a leading venture capital investor, has made a new investment in TPN.health, a behavioral health technology company focused on modernizing how providers, administrators and employers connect […]
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Venture capital
Future of workSupply chain
Cycle Labs

First Analysis invests in supply chain test automation platform Cycle Labs

Provider of enterprise-grade end-to-end automated testing solutions that accelerate software delivery and reduce risk across complex systems CHICAGO – Dec. 2, 2025 – First Analysis, a leading venture capital investor, has made a new investment in Cycle Labs, a leading software company in the enterprise test automation space. First Analysis led the $9.7 million Series […]
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Venture capitalInvestment banking
Healthcare ITInternet of things (IoT)
Intelligent Locations

First Analysis advised, invested in healthcare tech provider Intelligent Locations

First Analysis Securities Corp. advised Intelligent Locations on its recent growth investment from Marlin Equity Partners. Intelligent Locations is a leading provider of AI-powered real-time location software for healthcare enterprises. Intelligent Locations’ suite of solutions enables hospitals to track assets, people and processes in real-time. Venture capital fund First Analysis Fund XIV also participated in the investment. The investment will support further advancement of Intelligent Locations’ AI-powered INTRAXTM platform to optimize critical business and clinical operations for hospitals.
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