Every Sequoia AI Investment in 2025

On this page

• 107 AI Deals, $10.7B Deployed: Sequoia's 2025 by the Numbers
• The Complete List: Every AI Startup Sequoia Backed in 2025
• Where Sequoia Led vs. Followed: The Lead Investor Pattern
• Dev Tools, FinTech, Health: The Verticals Sequoia Bet Hardest On
• From Seed to Series F: Sequoia's Stage-by-Stage AI Playbook
• San Francisco Dominance: 38 of 107 Deals in One City
• Sequoia vs. a16z vs. General Catalyst: How the Big Three Compare on AI
• FAQ: Sequoia Capital AI Investment Questions
• Methodology

107 AI Deals, $10.7B Deployed: Sequoia’s 2025 by the Numbers

Sequoia participated in 107 AI-linked deals in 2025 that collectively totaled $10.7B in funding. Of those, Sequoia led 41 and joined as a participant in 66. The median deal size was $57M, while the average skewed to $104.8M, pulled up by mega-rounds including Kalshi’s $1B and Neuralink’s $650M.

The firm’s footprint was overwhelmingly American: 78.5% of deals involved US-based companies, with 84 of 107 rounds going to startups headquartered in the United States. The remaining capital spread across 10 countries including Germany (4 deals), the United Kingdom (3), Israel (3), Switzerland (3), Singapore (2), and Brazil (2).

Sequoia unveiled $950M in new early-stage funds in October 2025, splitting the capital between a $750M Series A vehicle and a $200M seed fund. That fundraise was not decorative. The deal data shows Sequoia put it to work: 18 Seed deals and 19 Series A rounds accounted for 35% of total deal count.

Metric	Value
Total deals	107
Total funding participated	$10.7B
Deals as lead investor	41
Deals as participant	66
Median deal size	$57M
Average deal size	$104.8M
Top city	San Francisco (38 deals)
US share of deals	78.5%

Source: Bot Memo analysis of 107 Sequoia-linked AI deals (January–December 2025)

The Complete List: Every AI Startup Sequoia Backed in 2025

Across 107 deals, Sequoia Capital’s AI portfolio spans household names and stealth-mode startups alike. The top 15 deals by funding amount anchor the list, but the long tail of $5M–$50M Seed and Series A rounds is where the firm’s thesis becomes visible.

The largest single round in Sequoia’s 2025 orbit was Kalshi‘s $1B Series E in New York, a CFTC-regulated (Commodity Futures Trading Commission) prediction market platform, though Sequoia participated rather than led. Neuralink followed at $650M (Series E, Fremont) and Cyera at $540M (Series E, New York) in cybersecurity.

Among Sequoia-led deals, the biggest checks went to Harvey ($300M Series D, San Francisco), Mercury ($300M Series C, San Francisco), and Sesame ($250M Series B, San Francisco). This cluster of leads reveals a preference for application-layer companies with clear revenue rather than foundation model bets.

For the full 2025 AI funding statistics, our dataset covers 5,300+ deals across every major investor.

Where Sequoia Led vs. Followed: The Lead Investor Pattern

The lead-versus-participant split is where Sequoia’s conviction becomes measurable. The firm led 41 of 107 deals, a 38.3% lead rate. In those 41 rounds, Sequoia typically wrote the largest check and set the terms.

Harvey stands out. Sequoia led Harvey’s $300M Series D in February 2025, valuing the legal AI startup at $3B. Harvey then raised at a $5B valuation in June 2025 and closed a $160M Series F by year-end, reaching an $8B valuation. Sequoia participated in the follow-on rounds after leading the initial breakout.

Mercury shows a different pattern: Sequoia led the fintech’s $300M Series C at a $3.5B valuation despite never having invested in Mercury’s prior rounds. That first check into an eight-year-old company signals Sequoia’s willingness to enter late when the business metrics justify it. Mercury serves over 200,000 companies and processed $156B in payment volume.

Peregrine Technologies, the public safety data intelligence platform, drew a Sequoia-led $190M Series C at a $2.5B valuation. The company had tripled annual revenues in each of the prior three years and serves agencies covering over 80 million Americans.

On the participant side, Sequoia appeared alongside other top-tier firms in mega-rounds for Sierra ($350M, customer experience AI agents), Chainguard ($356M + $280M across two rounds, software supply chain security), and Fireworks AI ($250M Series C, AI inference infrastructure).

Dev Tools, FinTech, Health: The Verticals Sequoia Bet Hardest On

Sequoia Capital’s AI portfolio in 2025 reads like a bet on picks-and-shovels over gold mines. Developer Tools & AI Infrastructure led with 26 deals, followed by Cybersecurity (16) and FinTech (14). Health & Biotech claimed 11 deals, Marketing & Sales Tech accounted for 9, and Legal Tech rounded out the top six at 8.

Vertical	Deal Count
Dev Tools & AI Infrastructure	26
Cybersecurity	16
FinTech	14
Health & Biotech	11
Marketing & Sales Tech	9
Legal Tech	8

Source: Bot Memo analysis of 107 Sequoia-linked AI deals (January–December 2025)

The Dev Tools concentration (26 deals, 24.3% of the portfolio) makes sense given Sequoia’s published thesis. The firm’s team has outlined that AI transitions from experimental pilots to production deployment as the “second wave” of value creation. Companies like Fireworks AI (inference infrastructure, $250M Series C, Redwood City) and n8n (AI workflow automation platform, $180M Series C, Berlin) build exactly the plumbing that production AI requires.

In FinTech, Mercury’s $300M Series C and Kalshi’s combined $1.185B across two rounds dominated the allocation.

In Health & Biotech, Kardigan raised $300M (Series A) and $254M (Series B) for cardiovascular drug development out of South San Francisco, while OpenEvidence pulled in $210M (Series B) and $200M (Series C) for its AI-powered medical search platform.

The verticals Sequoia avoided are as telling as the ones it chose. Robotics and AgTech are absent from the 2025 portfolio, and EdTech had just one deal. For a broader view of how the most active AI investors of 2025 allocated across sectors, the gaps differ by firm.

From Seed to Series F: Sequoia’s Stage-by-Stage AI Playbook

Sequoia’s stage distribution defies the narrative that the firm has shifted entirely to growth-stage bets. Series B led with 23 deals, followed by Series A (19), Seed (18), and Series C (16). The firm also participated in 5 Pre-Seed rounds and 16 later-stage deals (Series D+).

Stage	Deal Count
Series B	23
Series A	19
Seed	18
Series C	16
Series D+	16
Undisclosed	10
Pre-Seed	5

Source: Bot Memo analysis of 107 Sequoia-linked AI deals (January–December 2025)

The 18 Seed deals and 5 Pre-Seed deals (23 deals at the earliest stages) account for 21.5% of total deal count. That is consistent with Sequoia Capital’s $200M dedicated seed fund and its Arc program for early-stage company building.

Sesame illustrates Sequoia’s willingness to lead large early rounds. The conversational AI startup founded by Oculus co-founders raised a $250M Series B co-led by Sequoia and Spark Capital. The round funded voice-first smart glasses and an AI companion platform, a category with no proven revenue model yet. That is an early-stage bet at a growth-stage price.

The Series B sweet spot (23 deals) suggests Sequoia’s highest conviction sits at the inflection point where product-market fit is confirmed but the growth-stage premium has not yet been priced in.

San Francisco Dominance: 38 of 107 Deals in One City

San Francisco accounted for 38 of Sequoia’s 107 AI deals: 35.5% of total activity concentrated in a single city. New York followed with 15 deals. After that, geographic concentration dropped sharply: Tel Aviv, Berlin, Palo Alto, and London each had 3 deals.

The San Francisco concentration is higher than Sequoia’s historical norm and reflects where AI talent clusters. Harvey, Mercury, Sesame, Peregrine, Sierra, and Fireworks AI all operate from the Bay Area. When Sequoia led deals, the San Francisco bias was even more pronounced.

New York’s 15 deals skew toward FinTech and enterprise software, anchored by Kalshi ($1B + $185M across two rounds), Cyera ($540M in cybersecurity), and Eon. The city’s strength in financial services and legal industries feeds directly into Sequoia’s vertical focus.

International deals (23 of 107) include n8n in Berlin ($180M, valued at $2.5B for its AI orchestration platform), 3 deals in Tel Aviv, 3 in London, and 2 each in Singapore and Sao Paulo.

For comparison, our analysis of every AI deal a16z made in 2025 shows a similarly US-heavy distribution but with different international outposts.

Sequoia vs. a16z vs. General Catalyst: How the Big Three Compare on AI

Sequoia’s 107 AI deals place it among the most active AI investors of 2025, but the comparison with peers reveals strategic differences.

a16z crossed $90B in assets under management following its January 2026 fundraise. Sequoia does not disclose consolidated AUM, though its evergreen fund grew to $19.6B. a16z raised $15B in new funds in early 2026. a16z’s AI portfolio tilts more heavily toward foundation models and infrastructure, while Sequoia’s AI investments in 2025 show a preference for application-layer companies: legal (Harvey), fintech (Mercury), and public safety (Peregrine).

General Catalyst’s approach differs on another axis entirely. Our breakdown of General Catalyst’s complete 2025 AI portfolio shows a heavier weighting toward growth-stage rounds and healthcare, while Sequoia maintained a broader stage distribution with 23 Pre-Seed and Seed deals.

The key differentiator is Sequoia’s lead rate. Leading 41 of 107 deals (38.3%) signals that Sequoia is not merely following deal flow. The firm is sourcing and pricing its own bets at a rate that suggests deep sector conviction, not passive allocation.

FAQ: Sequoia Capital AI Investment Questions

What AI companies has Sequoia Capital invested in?

In 2025, Sequoia Capital’s AI portfolio included 107 funding rounds: Harvey (legal AI, $300M Series D), Mercury (fintech, $300M Series C), Sesame (conversational AI, $250M Series B), Peregrine Technologies (public safety, $190M Series C), Fireworks AI (inference infrastructure, $250M Series C), and n8n (workflow automation, $180M Series C). The portfolio spans 15+ verticals with Developer Tools & AI Infrastructure accounting for 26 deals.

How much did Sequoia invest in AI in 2025?

Sequoia participated in deals totaling $10.7B across 107 AI rounds in 2025. The firm led 41 deals and joined as a participant in 66. The median deal size was $57M, with an average of $104.8M. These figures represent total round sizes where Sequoia appeared on the cap table, not Sequoia’s individual check sizes, which are not publicly disclosed.

What is Sequoia Capital’s AI investment strategy?

Sequoia’s 2025 deal data reveals a strategy focused on application-layer companies with clear revenue paths rather than speculative foundation model bets. Developer Tools & AI Infrastructure (26 deals), Cybersecurity (16), and FinTech (14) were the top verticals. The firm published its view that AI’s “second wave” of value comes from production deployment, and the portfolio reflects that thesis.

How does Sequoia compare to a16z in AI investments?

Both firms ranked among the most active US venture investors in 2025, each participating in over 100 AI rounds. a16z crossed $90B in AUM following its January 2026 fundraise. Sequoia does not disclose consolidated AUM. a16z leans more heavily into foundation models and infrastructure. Sequoia’s portfolio shows stronger concentration in application-layer categories like legal tech, fintech, and public safety. See our full analysis of every AI deal a16z made in 2025 for a side-by-side breakdown.

Which Sequoia-backed AI startups are unicorns?

Several Sequoia-backed AI companies reached or exceeded unicorn status ($1B+ valuation) during 2025. Harvey hit an $8B valuation after its $160M Series F. Mercury doubled to $3.5B at its Sequoia-led Series C. Peregrine Technologies reached $2.5B at its Sequoia-led Series C. Cyera, Sierra, and Fireworks AI also raised at multi-billion-dollar valuations with Sequoia on the cap table.

What sectors does Sequoia focus on for AI?

Developer Tools & AI Infrastructure led with 26 of 107 deals, followed by Cybersecurity (16), FinTech (14), Health & Biotech (11), and Marketing & Sales Tech (9). The infrastructure focus matches Sequoia’s published thesis on production-readiness, while the FinTech and Health bets target verticals with high regulatory moats and switching costs. Sequoia Capital’s AI portfolio concentration in these sectors reflects a conviction that AI value accrues at the application layer.

How many AI deals did Sequoia do in 2025?

Sequoia participated in 107 AI funding rounds in 2025, spanning January through December. Of those, Sequoia led 41 deals and joined as a participant in 66. Deal count spans Pre-Seed through Series D+, with Series B (23 deals), Series A (19), and Seed (18) representing the three largest stage buckets.

Methodology

This analysis of Sequoia’s AI investments in 2025 is based on 107 AI funding deals tracked in the Bot Memo database from January through December 2025.

Data sources: Company announcements, press releases, regulatory filings, and newsletter monitoring across 900+ sources per week.

Filters applied: All deals where “Sequoia” (case-insensitive) appeared in either the Lead Investors or Other Investors fields. This captures Sequoia Capital, Sequoia Capital Heritage, Sequoia Capital India/Southeast Asia, and affiliated entities.

Currency: All amounts in USD. Non-USD rounds converted at the exchange rate on the date of announcement.

Limitations: Total funding figures represent the full round size where Sequoia participated, not Sequoia’s individual check size. Sequoia’s exact allocation per deal is not publicly disclosed. Deals where Sequoia invested but was not listed in public announcements would not appear in this dataset. The 107-deal count may undercount Sequoia’s actual activity.