Next47

Next47 has established itself as a unique player in the venture capital ecosystem, functioning as a Siemens-backed independent venture firm that bridges corporate resources with financial-first investing. Founded in 2016 and headquartered in Palo Alto, Next47 focuses on early-stage to growth-stage enterprise technology companies with global market potential.

This comprehensive guide provides everything you need to know about securing funding from Next47, including their investment thesis focused on enterprise SaaS, AI/ML, and deep tech, portfolio companies including Desktop Metal and Netskope, typical check size of $2M-$40M, and strategies for successfully pitching your startup.

Understanding Next47's approach to investing is crucial for founders seeking capital. The firm has developed a reputation for supporting entrepreneurs who are building transformative companies in enterprise technology. Whether you're at the seed stage or looking for Series B funding, this guide will help you understand how to position your company for success with Next47.

In addition to capital, Next47 provides portfolio companies with access to Siemens' global industrial network, customer relationships, and operational expertise. This support system can be invaluable for enterprise technology companies looking to scale through major industrial and enterprise customers.

The venture capital landscape has evolved significantly over the past decade, with firms like Next47 leading the way in identifying and supporting the next generation of transformative enterprise software and AI companies.

Next47 maintains a clear investment thesis focused on identifying and supporting enterprise and industrial technology founders building transformative companies. The firm's approach combines rigorous due diligence with a willingness to take calculated risks on promising teams and technologies.

The investment philosophy at Next47 centers on long-term partnership with founders while leveraging Siemens' global industrial network. Unlike traditional corporate VCs, Next47 operates as a financial-first venture firm that provides strategic value without being prescriptive about integration.

Next47 typically invests at the early to expansion stages, with check sizes ranging from $2M to $40M depending on stage and opportunity. The firm prefers to lead or co-lead rounds, providing not just capital but also strategic guidance, operational support, and access to Siemens' global customer base.

Enterprise SaaS and AI/ML are particular focus areas for Next47. The firm seeks companies with unique intellectual property, proprietary technology, or novel approaches that create sustainable competitive advantages in enterprise markets.

Dev Tools, Enterprise IT, Cybersecurity, and Industrial IoT round out Next47's core investment themes. The firm looks for companies that can benefit from Siemens' industrial presence in manufacturing, energy, and infrastructure.

Next47 also considers the quality and composition of the founding team. The firm looks for entrepreneurs with deep industry knowledge, proven execution ability, and a clear vision for building lasting enterprise technology companies.

Next47 has continued to maintain an active investment pace in recent years, deploying capital across enterprise SaaS, AI, and industrial technology. The firm's portfolio demonstrates a commitment to backing entrepreneurs who are reimagining enterprise software and industrial applications.

Recent investment activity shows Next47 remains committed to its core thesis while exploring new sectors and geographies. The firm has participated in several notable funding rounds, often leading or co-leading deals with other prominent venture capital firms.

The firm's strategic alignment with Siemens provides unique deal flow advantages. Next47 has built relationships with top-tier enterprise technology founders and other investors, ensuring access to the most promising opportunities in enterprise software.

In addition to new investments, Next47 has been active in supporting its existing portfolio companies through follow-on rounds. This continued support demonstrates the firm's commitment to long-term partnerships with founders.

Market conditions have influenced Next47's investment approach, with the firm becoming more selective in its deployment of capital. However, the firm remains committed to backing exceptional enterprise technology founders.

Next47's portfolio showcases the firm's ability to identify and support winners across enterprise SaaS, AI, and industrial technology sectors. The firm's investments span enterprise software, cybersecurity, cloud infrastructure, and numerous other enterprise technology areas.

Desktop Metal, a 3D printing company that went public in 2020, stands as one of Next47's notable investments, demonstrating the firm's ability to identify transformative industrial technology companies.

Netskope, the cloud security platform, is another flagship Next47 portfolio company. The company's success exemplifies Next47's thesis of supporting transformative enterprise security and SaaS companies.

Portfolio companies benefit from Next47's extensive network and operational expertise. The firm takes an active approach to supporting its investments, often assisting with enterprise sales, hiring, and access to Siemens' industrial customer base.

Notable exits demonstrate Next47's ability to not only identify promising companies but also provide the support needed for long-term success. The firm has over 100 portfolio companies across various stages of growth.

Next47 has invested in numerous companies across various stages of growth. The firm's portfolio includes early-stage companies just beginning their journey as well as more mature companies poised for significant growth.

Next47 evaluates potential investments based on several key criteria. The firm places particular emphasis on the founding team, looking for entrepreneurs with deep industry knowledge, proven execution ability, and a clear vision for disrupting enterprise markets.

Market opportunity is another critical factor in Next47's investment decision process. The firm seeks companies addressing large, growing enterprise markets with the potential for significant revenue growth.

Financial metrics matter to Next47, though early-stage companies may have limited historical data. The firm looks for evidence of customer traction, strong SaaS unit economics, and a clear path to profitability or the next funding round.

Beyond quantitative metrics, Next47 assesses qualitative factors such as company culture, leadership team dynamics, and the founder's ability to attract and retain top enterprise talent.

Competitive positioning is carefully evaluated by Next47. The firm looks for companies with clear competitive advantages that can be defended over time, particularly those with unique technology or intellectual property.

Next47 also considers the scalability of a company's business model and its potential to benefit from Siemens' global industrial network and customer relationships.

Securing a meeting with Next47 requires a strategic approach. The firm receives thousands of pitch decks each year, so making your submission stand out is essential for getting noticed.

Warm introductions from enterprise technology executives, Siemens partners, or trusted investors are the most effective way to connect with Next47. The firm is more likely to meet with founders who come recommended by the enterprise technology community.

Next47 also accepts cold submissions through their website. If pursuing this route, ensure your pitch deck is polished, your pitch is concise, and you clearly articulate why your company fits Next47's investment thesis.

When preparing for your meeting with Next47, be ready to discuss your business in depth. The firm will want to understand your market size, competitive landscape, business model, traction metrics, and enterprise sales strategy.

Following up after your initial meeting is important. Next47 typically takes several weeks to make investment decisions, so maintain communication without being overly pushy.

While Next47 invests in early-stage companies, they expect founders to have a solid handle on their financials. This includes understanding your burn rate, runway, SaaS unit economics, and path to profitability.

Many first-time founders underestimate the importance of financial preparedness when raising capital. Enterprise software companies have unique financial mechanics including subscription revenue recognition, gross margin profiles, and enterprise sales cycles that investors want to see you understand.

Working with a fractional CFO can significantly improve your chances of securing funding. Professional financial guidance helps you build accurate projections, prepare investor-ready financials, and confidently answer due diligence questions.

Financial projections should be realistic and grounded in evidence. Next47 will scrutinize your assumptions and challenge your projections. Be prepared to explain the basis for your forecasts.

Understanding your key performance indicators (KPIs) is essential when pitching to Next47. The firm will want to see that you track the metrics that matter most to enterprise software companies including ARR benchmarks growth, net revenue retention, and gross margin.

Whether you're preparing to pitch Next47 or other top VCs, having professional financials can set you apart from the competition. Our team has helped companies raise over $200M in venture capital and understands what investors look for in enterprise software financial presentations.

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