- Companies
- Fundamental
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Feb 2026 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Strategic investment | MUFG Innovation Partners (lead) | - | - | - |
| Feb 2026 | Series A | Hetz Ventures | $225M | $1.4B | Fundamental 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Fundamental investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFundamental Competitors
Fundamental competitors include listed companies like Presight AI and SenseTime Group, and private ones like Govini, Coralogix, CADDi and AI21 Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $100M | - | $1.3B | 12.5x | ||
| Private | $100M | - | $1.6B | 16.0x | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $825M | $214M | $5.3B | 4.9x | ||
| Publicly listed | $753M | ($71M) | $5.9B | 5.2x | ||
| Private | $50M | - | $1.4B | 28.0x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $252M | $47M | 5.0x | 3.7x | 26.9x | 16.1x | |||
| $90M | $24M | 13.7x | 11.9x | 51.9x | 32.0x | |||
| $77M | ($20M) | 17.4x | 17.8x | (66.1x) | 433.4x | |||
| $1.5B | $53M | 0.8x | 0.8x | 23.2x | - | |||
| $128M | ($295M) | 7.7x | 6.6x | (3.3x) | (25.3x) | |||
| $206M | $4M | 5.7x | - | 298.0x | - | |||
| $4B | $183M | 0.2x | 0.2x | 4.2x | 4.4x | |||
| $61M | ($20M) | 16.6x | - | (49.9x) | - | |||
This data is available for Pro users. Sign up to see all Fundamental competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to Fundamental
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




