Next47 Review: The Enterprise Tech VC Powering B2B Startups
Everything you need to know about Next47: their investment thesis, notable portfolio companies, typical check size, and how to position your startup for funding.
If you're building an enterprise technology company at the seed or early stage, Next47 (also known as N47) is a name you should know. This Palo Alto-based VC focuses exclusively on B2B startups and has built a reputation for helping companies accelerate revenue growth through customer introductions.
Founded in 2016, Next47 differentiates itself by offering portfolio companies access to a global network of enterprise customers. They invest in B2B startups across North America, Europe, and Israel, with a focus on enterprise tech and industrial tech.
In this guide, we'll cover what Next47 looks for, their investment criteria, notable portfolio companies, and how to position your startup to catch their attention.
Investment Focus & Thesis
Next47 focuses on seed-stage and early-stage B2B companies. Their thesis centers on partnering with entrepreneurs who are building the next generation of enterprise technology, and they offer unique value through their customer network.
Stage Focus
Seed through Series B. They invest in early and expansion-stage companies with a focus on revenue growth.
Check Size
$500K to $2M+ per investment. They have the ability to write meaningful seed checks and follow on through later rounds.
Next47 invests in two primary verticals:
- Enterprise Tech — SaaS, IT infrastructure, cybersecurity, and productivity tools
- Industrial Tech — Manufacturing, logistics, and supply chain technology
They invest globally across North America, Europe, and Israel, making them a popular choice for startups with international ambitions.
Recent Investment Activity
Next47 has remained active in 2025 and 2026, continuing their B2B focus. Recent investments include:
| Company | Sector | Round | Year |
|---|---|---|---|
| BuildOps | Construction Tech | Series A | 2025 |
| Multiple SaaS platforms | Enterprise Software | Seed/Series A | 2025 |
| Industrial Tech | Manufacturing | Series A | 2025 |
| Cybersecurity | Enterprise Security | Seed | 2025 |
Next47 has made over 276 investments according to available data. Their portfolio includes companies at various stages, from seed through expansion.
Notable Portfolio Companies
Next47's portfolio focuses on B2B and enterprise technology companies. Some notable examples include:
BuildOps
A platform that unifies the chaos of commercial contracting, replacing disconnected tools with an AI-powered solution for construction project management.
Enterprise SaaS Companies
Next47 has backed numerous SaaS companies across various verticals, from CRM to marketing automation.
Industrial Tech Startups
Companies applying technology to manufacturing, logistics, and supply chain challenges.
Next47 differentiates itself by offering portfolio companies access to enterprise customers. Their value proposition includes helping startups get their first 10-50 customers through their network.
What Next47 Looks For
Based on their investment patterns and positioning, here's what Next47 typically evaluates:
- B2B focus — They exclusively invest in business-to-business companies, not consumer startups
- Enterprise potential — Companies that can sell to large enterprises
- Revenue readiness — Startups with product-market fit or clear path to revenue
- Founder experience — Teams with domain expertise and prior entrepreneurial success
- Global outlook — Companies with potential to expand across North America, Europe, or Israel
Pro Tip
Next47's key differentiator is their customer network. If you're building an enterprise product, highlight your customer traction or enterprise relationships in your pitch.
How to Connect With Next47
Getting a meeting with Next47 requires a B2B focus. Here's what we recommend:
Emphasize Enterprise Focus
Next47 only invests in B2B companies. Make sure your pitch clearly demonstrates your enterprise focus.
Show Customer Traction
Demonstrate early enterprise customers or LOIs. They value companies that can accelerate revenue growth.
Leverage Your Network
Warm introductions from other founders or investors who know Next47 are valuable. Build relationships first.
Apply Through Their Website
They accept applications through their website. Be concise about your B2B focus and enterprise potential.
The Value of Financial Preparedness
While Next47 invests in early-stage companies, they expect founders to have a handle on their financials. This is where many first-time founders struggle — and where bringing in fractional CFO support can make a significant difference.
Why Investors Care
- • Demonstrates business acumen
- • Shows you understand enterprise sales
- • Enables smarter decision-making
- • Speeds up due diligence
What You Need
- • Clear financial model with assumptions
- • Understanding of burn rate and runway
- • Sales pipeline and conversion metrics
- • Enterprise pricing and margins
How Eagle Rock Helps
We help B2B and enterprise companies build financial infrastructure that impresses investors. From pitch deck financials to sales pipeline modeling, our fractional CFO services ensure you're ready for due diligence. We also have relationships with investors across the VC ecosystem and can make introductions when the time is right.
Ready to Strengthen Your Fundraising Deck?
Whether you're preparing to pitch Next47 or other top VCs, having professional financials can set you apart. Our team has helped companies raise over $200M in venture capital.
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