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 $10.7M (across 61 rounds with reported amounts).
Portfolio
47
Fund Size
$102M
Top Stage
Series A
Last 12 Mo
3
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
63 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 HighGround | Seed | $6.5M | Jun 2026 |
 Mindsmith | Seed | $4.1M | Nov 2025 |
 Gravwell | Series A | $15.4M | Oct 2025 |
 GetWhys | Seed | $2.8M | Feb 2025 |
 Dreadnode | Series A | $14M | Jan 2025 |
 Paramify | Series A | $12M | Jan 2025 |
 Reveal Technology | Series A | $11.2M | Dec 2024 |
 King Energy | Series A | $10M | Oct 2024 |
 Freeplay | Seed | $3.3M | Nov 2023 |
 UserEvidence | Series A | $9M | Sep 2023 |
 Bonusly | Series B | $18.9M | Feb 2023 |
| BBonus Ly | Series B | $18.9M | Feb 2023 |
 BioSqueeze | Series A | $7.4M | Feb 2023 |
| BBonus Ly | Series B | $18.9M | Jan 2023 |
| UserEvidence | Series A | $9M | Jan 2023 |
 mpathic | Seed | $4M | Jun 2022 |
 Submittable | Series C | $47M | Jun 2022 |
 Claravine | Series B | $16M | May 2022 |
 Quiq | Series C | $25M | Apr 2022 |
 Optera | Seed | $4.2M | Mar 2022 |
 Donde | Seed | $3.3M | Mar 2022 |
 Tagboard | Series A | $8M | Feb 2022 |
| Quiq | Series C | $48M | Jan 2022 |
| Claravine | Series B | $16M | Jan 2022 |
| Gravwell | Seed | $3M | Oct 2021 |
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Top Co-Investors
Blackhorn Ventures5 shared
Service Provider Capital5 shared
Access Venture Partners5 shared
Summit Partners4 shared
Bessemer Venture Partners4 shared
Kickstart Ventures4 shared
Grayhawk Capital4 shared
Ankona Capital3 shared
FirstMark Capital3 shared
North Coast Ventures3 shared
Peninsula Ventures3 shared
Silverton Partners3 shared
Stout Street Capital3 shared
Mucker Capital3 shared
Venrock3 shared
Baird3 shared
Techstars3 shared
Frontier3 shared
8VC2 shared
Last updated: 7 October 2026