Fundamental Valuation, Funding & Investors

Fundamental is valued at $1.4B as of February 2026.

Last Fundamental valuation

$1.4B

Series A · Feb 2026

Last Fundamental funding round

Strategic investment

Amount undisclosed · Jul 2026

Cumulative funding Fundamental raised

$225M

across 2 funding rounds

Key investors in Fundamental

  • Hetz Ventures
  • MUFG Innovation Partners

Fundamental Overview

About Fundamental

Fundamental is a privately held artificial-intelligence company founded in 2024 and based in San Francisco, with research and development activity in Israel. It develops NEXUS, a large tabular model designed to make predictions from structured enterprise data such as databases, tables and spreadsheets. The model is pretrained across billions of rows and columns and is intended for forecasting, risk scoring, fraud detection, demand planning and other quantitative decisions. Enterprises can deploy NEXUS in private-cloud, virtual-private-cloud and Amazon Web Services environments while keeping data within governed infrastructure. The company positions its technology as a complement to large language models, which are primarily designed for unstructured language rather than tabular prediction. Fundamental works with enterprises in industries including financial services, healthcare, energy, supply chains and manufacturing. It commercializes NEXUS through enterprise software and model-deployment arrangements rather than operating as a nonprofit research institution.


Founded

2024

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.4B (Feb 2026)

Fundamental Valuation

Fundamental is currently valued at $1.4B, based on its Series A in February 2026. Read the announcement ↗

The $225M round included Hetz Ventures.

Fundamental valuation by funding round

Fundamental valuation by funding round
DateStageValuation
Feb 2026Series A$1.4B

Fundamental Funding History

Fundamental has raised a total of $225M across 2 funding rounds.

Fundamental's first fundraising round was a $225M Series A in February 2026. The most recent completed round was a strategic investment round in July 2026.

Fundamental funding rounds

Fundamental funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2026Strategic investmentMUFG Innovation Partners (lead)---
Feb 2026Series AHetz Ventures$225M$1.4BFundamental emerged from stealth on February 5, 2026, after completing a USD 225 million Series A led by Oak HC/FT. Hetz Ventures participated alongside other institutional and individual investors, and TechCrunch reported a USD 1.4 billion post-money valuation. Fundamental was founded in 2024 by researchers including Jeremy Fraenkel and Gabriel Suissa. The company develops NEXUS, a large tabular model trained to make enterprise predictions from structured data such as tables, databases and spreadsheets. Customers can deploy the model in governed private-cloud, virtual-private-cloud and Amazon Web Services environments for use cases including forecasting, fraud detection, risk assessment and supply-chain planning. Only Hetz is attached as a buyer in this investor-scoped pass; the lead and remaining syndicate are described here without creating a large co-investor profile cascade.

Who has invested in Fundamental?

2 investors have backed Fundamental across its funding rounds, including Hetz Ventures and MUFG Innovation Partners.

Lead investors include MUFG Innovation Partners.


Fundamental Investors

Investors in Fundamental by funding rounds participated
InvestorHQRoundsRoleFirst check

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Fundamental Competitors

Fundamental competitors include listed companies like Presight AI and SenseTime Group, and private ones like Govini, Coralogix, CADDi and AI21 Labs.

Public and private companies comparable to Fundamental
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GoviniUnited StatesWashington, DCPrivate$100M-$1.3B12.5x
CoralogixIsraelRamat GanPrivate$100M-$1.6B16.0x
CADDiJapanTokyoPrivate--$1.1B-
Presight AIUAEUAEPublicly listed$825M$214M$5.3B4.9x
SenseTime GroupChinaChinaPublicly listed$753M($71M)$5.9B5.2x
AI21 LabsIsraelTel AvivPrivate$50M-$1.4B28.0x

Fundamental Public Comps

Fundamental is still privately-owned, but its public comps include Innodata, Red Violet, TRS Information Technology, PCITECH, BigBear.ai, Shenzhen Ysstech Info, Arcs Co, Wenge AI, Optasia and Business-intelligence.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Innodata$252M$47M5.0x3.7x26.9x16.1x
Red Violet$90M$24M13.7x11.9x51.9x32.0x
TRS Information Technology$77M($20M)17.4x17.8x(66.1x)433.4x
PCITECH$1.5B$53M0.8x0.8x23.2x-
BigBear.ai$128M($295M)7.7x6.6x(3.3x)(25.3x)
Shenzhen Ysstech Info$206M$4M5.7x-298.0x-
Arcs Co$4B$183M0.2x0.2x4.2x4.4x
Wenge AI$61M($20M)16.6x-(49.9x)-

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Common questions about Fundamental

When was Fundamental founded?Fundamental was founded in 2024.
Where is Fundamental headquartered?Fundamental is headquartered in San Francisco, CA, United States.
Is Fundamental publicly listed?No, Fundamental is a private, VC-backed company.
What is Fundamental's valuation?Fundamental was last valued at $1.4B in its Series A in February 2026.
How much funding has Fundamental raised?Fundamental has raised $225M across 2 funding rounds.
What was Fundamental's last funding round?Fundamental's last funding round was a strategic investment round in July 2026, led by MUFG Innovation Partners.
Who are Fundamental's investors?Fundamental's investors include MUFG Innovation Partners and Hetz Ventures.
Which companies are comparable to Fundamental?Companies comparable to Fundamental include Govini, Coralogix, CADDi, Presight AI, SenseTime Group and AI21 Labs.

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