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    Next Frontier Capital

    Bozeman, Montana, United StatesFounded 2015
    nextfrontiercapital.comLinkedIn
    AIClimate & EnergyDefense & SpaceEnterprise SoftwareFintechCybersecurity

    Next Frontier Capital is an early-stage venture capital firm founded in 2015 in Bozeman, Montana, focused on partnering with mission-driven entrepreneurs to build Rocky Mountain technology companies. The firm invests across AI/data, climate, deep tech, B2B software, fintech, defense tech, and cybersecurity.

    Average disclosed round size is $10.0M (across 45 rounds with reported amounts).

    Find people at Next Frontier Capital on Goldilocks AI

    Portfolio

    43

    Fund Size

    $102M

    Top Stage

    Series A

    Last 12 Mo

    3

    Team

    Erika Nash

    Erika Nash

    Franz Kofler

    Franz Kofler

    Kirsten Suddath

    Kirsten Suddath

    Les Craig

    Les Craig

    Mandy Culver

    Mandy Culver

    Richard Harjes

    Richard Harjes

    Scott Holton

    Scott Holton

    Will Price

    Will Price

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    46 investments
    CompanyRoundAmountDate
    HHighGroundSeed$6.5MJun 2026
    Mindsmith logoMindsmithSeed$4.1MNov 2025
    Gravwell logoGravwellSeries A$15.4MOct 2025
    GetWhys logoGetWhysSeed$2.8MFeb 2025
    Dreadnode logoDreadnodeSeries A$14MJan 2025
    Paramify logoParamifySeries A$12MJan 2025
    Reveal Technology logoReveal TechnologySeries A$11.2MDec 2024
    King Energy logoKing EnergySeries A$10MOct 2024
    UserEvidence logoUserEvidenceSeries A$9MSep 2023
    Bonusly logoBonuslySeries B$18.9MFeb 2023
    BBonus LySeries B$18.9MFeb 2023
    BBonus LySeries B$18.9MJan 2023
    Submittable logoSubmittableSeries C$47MJun 2022
    Claravine logoClaravineSeries B$16MMay 2022
    Quiq logoQuiqSeries C$25MApr 2022
    Donde logoDondeSeed$3.3MMar 2022
    Tagboard logoTagboardSeries A$8MFeb 2022
    Tetra Insights logoTetra InsightsSeries A$5MAug 2021
    Bandwango logoBandwangoSeed$3.1MApr 2021
    Demoflow logoDemoflowSeed$2.4MMar 2021
    EveryoneSocial logoEveryoneSocialSeries A$7.6MOct 2020
    Chargeback logoChargebackSeries A$6.6MJun 2020
    Aumni logoAumniUnknown$10MJan 2020
    LumenAd logoLumenAdSeed$2MJan 2020
    OptioSurgical logoOptioSurgicalUnknown$3.3MJul 2019
    Page 1 of 2

    Top Co-Investors

    Millennium Technology Value Partners5 shared
    Access Venture Partners5 shared
    Blackhorn Ventures4 shared
    Kickstart Ventures4 shared
    Summit Partners3 shared
    Bessemer Venture Partners3 shared
    Ankona Capital3 shared
    FirstMark Capital3 shared
    North Coast Ventures3 shared
    Techstars3 shared
    True Ventures2 shared
    Grayhawk Capital2 shared
    Massive2 shared
    Stout Street Capital2 shared
    Mucker Capital2 shared
    Service Provider Capital2 shared
    The Slack Fund2 shared
    NBCUniversal1 shared
    ArcTern Ventures1 shared
    Active Impact Investments1 shared

    Last updated: 9 September 2026