15 Leading Software Angel Investors Supporting SMB Software Startups

For founders building software for small and medium-sized businesses, finding the right early-stage capital is a critical step. Understanding which angel investors are active in your space can make your fundraising process much more targeted and effective.

Unlike many venture capital firms, angel investors often write the first checks and can provide direct, personal guidance. They are individuals investing their own capital, which creates a unique kind of partnership for your startup.

To help you connect with the right people, we've curated this list of top angel investors in the SMB software and SaaS space. Use this guide to quickly identify potential partners for your fundraising round.

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Top SMB Software Angel Investors By Stage

Angel investors in the SMB software sector often invest at the pre-seed and seed stages, where they can offer direct support and guidance from the beginning.

Knowing which investors are active at your particular stage can help you build a more targeted and effective fundraising plan.

Pre-seed Angel Investors in SMB Software

Pre-seed is the earliest funding stage, often used to turn an idea into a minimum viable product before you have any traction. For founders at this initial stage, investors like Charlie Cheever and Omar Hamoui are known to provide that first critical capital.

Seed Stage Angel Investors in SMB Software

The different startup funding types can be confusing, but seed funding is designed to help your startup grow by financing initial operations and early market entry. Some notable seed investors in the SMB software space include Alfred Lin, Graham Brown, and Puneet Agarwal.

Series A Angel Investors in SMB Software

Once you have a proven product and consistent revenue, Series A funding is used to scale the business and build out your team. Investors like Sameer Gandhi, Alex Clayton, and Daegwon Chae often participate in this growth phase.

Series B Angel Investors in SMB Software

Series B funding is for companies that are past the development stage and are ready to expand their market reach significantly. You might connect with investors such as Joshua Kushner, Andrew Reed, and Thomas Jennings for this round.

Keep in mind that many investors are flexible and participate in multiple funding rounds depending on the opportunity. These multi-stage investors can be valuable long-term partners as your company grows.

To help you build your list, we've profiled some of the top angel investors in the SMB software sector. You'll find key details on their investment stages, areas of interest, location, and what makes each investor a compelling partner for founders.

1. Joshua Kushner

Joshua Kushner is the founder of Thrive Capital, a venture capital firm known for backing some of the most significant technology companies. While he operates through a larger firm, his investments reflect a personal conviction in high-growth potential businesses.

A key characteristic of his investment approach is participation across multiple stages, from Seed to Series B, with a notable sweet spot of $25 million. His portfolio includes major players like Ramp and Databricks, signaling a focus on companies with the potential to define their categories.

Founders who have already established product-market fit and are seeking substantial capital to scale their operations would find a good partner in Kushner. This is especially true for those in SMB software or consumer internet who are ready for an aggressive growth phase.

• Investment stages: Seed, Series A, Series B
• Industries of focus: SMB Software, Consumer Internet, Gaming/eSports
• Geographical presence: Based in New York, New York
• Ideal investment range: $1M - $50M
• Notable portfolio companies: Ramp, Databricks, Essential AI

You can find more information about Joshua Kushner on the Thrive Capital website or his Twitter profile.

2. Graham Brown

Graham Brown is a partner at Lerer Hippeau, a prominent early-stage venture firm. His position within a larger fund gives founders access to a broad network and extensive resources.

He concentrates on Seed and Series A investments, with a particular interest in SMB software, e-commerce, and media companies. His portfolio includes companies like MyCarrier and Expressable, showing a focus on businesses that address specific market needs.

Founders building for SMBs or e-commerce at the seed or Series A stage may find a strong partner in Brown. His involvement with Lerer Hippeau suggests he can provide both capital and strategic support for early growth.

• Investment stages: Seed, Series A
• Industries of focus: Enterprise, E-commerce, SMB Software, Media/Content
• Geographical presence: New York, New York
• Ideal investment range: $100K - $3.0M
• Notable portfolio companies: Expressable, MyCarrier

You can find more information about Graham Brown on the Lerer Hippeau website or his LinkedIn profile.

3. Sam Baker

Sam Baker is an associate at Scale Venture Partners, an early-stage venture firm. His position within a larger fund gives founders access to significant resources and a broad network for growth.

He concentrates on Seed and Series A rounds, with a clear interest in SMB software, cybersecurity, and robotics. His investment sweet spot of $10 million indicates he often participates in substantial early-stage rounds, as seen with portfolio companies like HUMAN and ProcessUnity.

Founders building in his areas of interest who are ready for a significant capital injection would find a good partner in Baker. His role at Scale VP suggests he can provide both capital and strategic support for companies aiming for rapid growth.

• Investment stages: Seed, Series A
• Industries of focus: Cybersecurity, Marketplaces, Robotics, SMB Software
• Geographical presence: San Francisco, California
• Ideal investment range: $5.0M - $15.0M
• Notable portfolio companies: HUMAN, ProcessUnity

You can find more information about Sam Baker on the Scale Venture Partners website or his LinkedIn profile.

4. Thomas Jennings

Thomas Jennings is a Managing Director at Summit Partners, where he has been for over two decades. His long tenure at a major firm means he brings substantial experience and resources to the table for growth-stage companies.

He primarily invests in Series B rounds, with a strong interest in health tech, BioTech, and SMB software. His typical investment sweet spot of $20 million, seen in rounds for companies like Accedian, shows a focus on providing significant capital for scaling businesses.

Founders with a proven business model in the health or software sectors who are ready for a substantial Series B round would be a good match. Jennings' position at Summit Partners suggests he can provide the strategic support needed for significant market expansion.

• Investment stages: Series B
• Industries of focus: Health & Hospital Services, Digital Health, BioTech, Health IT, SMB Software
• Geographical presence: Boston, Massachusetts
• Ideal investment range: $5.0M - $50.0M
• Notable portfolio companies: Accedian, PeerApp

You can find more information about Thomas Jennings on the Summit Partners website or his LinkedIn profile.

5. Alfred Lin

Alfred Lin is a partner at Sequoia Capital, bringing a deep background as an operator to his investment decisions. His experience includes key roles at Zappos, which was acquired by Amazon, and LinkExchange, acquired by Microsoft.

A key aspect of his approach is his focus on Seed and Series A rounds across a wide array of industries, including FinTech, enterprise software, and retail. His history as a COO and VP of Finance suggests he provides founders with more than just capital, offering practical guidance on scaling operations.

Founders building at the early stages who are looking for a partner with firsthand experience in growing a company from the ground up would be a great match. His portfolio, which includes companies like Kalshi and Collaborative Robotics, shows his interest in businesses with ambitious goals.

• Investment stages: Seed, Series A
• Industries of focus: FinTech, Enterprise, SMB Software, Retail, Developer Tools
• Geographical presence: San Francisco Bay Area
• Ideal investment range: $1M - $10.0M
• Notable portfolio companies: Kalshi, Collaborative Robotics, Summer Health

You can find more information about Alfred Lin on the Sequoia Capital website or his LinkedIn profile.

6. Dan Tapiero

Dan Tapiero is the founder and CEO of 10T Fund, a private equity firm focused on digital assets. He brings a background as a global macro investor to his role, concentrating on companies in their growth stages.

A key characteristic of his investment approach is a strong interest in the digital asset ecosystem, particularly in Web3 and crypto infrastructure. His portfolio includes foundational companies like Ledger and QuickNode, indicating a focus on businesses that support the broader crypto economy.

Founders in the Web3 or SMB software sectors who are raising a Series A or B round may find a good partner in Tapiero. His firm looks for companies with demonstrated traction that are ready to scale their operations.

• Investment stages: Series A, Series B
• Industries of focus: Web3/Crypto, SMB Software
• Geographical presence: Based in the United States
• Ideal investment range: $100K - $5.0M
• Notable portfolio companies: Ledger, QuickNode, Babel Finance

You can find more information about Dan Tapiero on the 10T Fund website or his LinkedIn profile.

7. Andrew Reed

Andrew Reed is a partner at Sequoia Capital, one of the most well-known venture firms in the industry. He primarily invests in growth-stage companies, bringing the extensive resources and network of Sequoia to the table.

His investment approach is characterized by a focus on Series B rounds, with a substantial check size that signals his intent to fund significant scaling efforts. His portfolio, which includes companies like Vanta and Strava, shows an interest in businesses that have already achieved product-market fit and are ready for major expansion.

Founders with established traction in FinTech, consumer internet, or SMB software who are raising a Series B round would be a good match. Reed is a good partner for companies seeking a significant capital injection to accelerate growth and capture a larger market share.

• Investment stages: Series B
• Industries of focus: FinTech, Consumer Internet, SMB Software
• Geographical presence: San Francisco, California
• Ideal investment range: $10.0M - $200.0M
• Notable portfolio companies: Vanta, Strava, Phantom, Tourlane

You can find more information about Andrew Reed on the Sequoia Capital website or his LinkedIn profile.

8. Charlie Cheever

Charlie Cheever is an angel investor with deep experience as a founder, most notably as the co-founder of Quora. This background as an operator informs his investment approach, making him a valuable partner for early-stage teams.

A key aspect of his investment style is his flexibility across stages, from Pre-seed to Series B, though he often writes the first checks with a sweet spot of $100K. His portfolio, including companies like Logseq and Etched.ai, shows a clear interest in AI, SMB software, and developer-focused products.

Founders at the pre-seed or seed stage who are looking for a partner with firsthand experience building and scaling a major tech company would be a great match. His focus on product and early-stage development makes him a strong ally for teams just getting started.

• Investment stages: Pre-seed, Seed, Series A, Series B
• Industries of focus: AI, SMB Software, Games, Real Estate/PropTech
• Geographical presence: Based in Palo Alto, California
• Ideal investment range: $10K - $500K
• Notable portfolio companies: Logseq, Etched.ai, Harmonic

You can find more information about Charlie Cheever on his personal website or LinkedIn profile.

9. Puneet Agarwal

Puneet Agarwal is a partner at True Ventures, an early-stage venture capital firm. His background includes extensive experience in product management at companies like BEA Systems and Geodesic Systems before he moved into venture capital.

His investment activity centers on Seed and Series A rounds, with a clear interest in enterprise, cloud infrastructure, and SMB software. With an investment sweet spot of $20 million, he often participates in substantial early rounds for companies like Moderne and Veza.

Founders building enterprise or cloud solutions who are raising a Seed or Series A round would find a good match in Agarwal. His deep product background suggests he can provide practical guidance on building and scaling a product, in addition to capital.

• Investment stages: Seed, Series A
• Industries of focus: Enterprise, Cloud Infrastructure, Social Networks, SMB Software
• Geographical presence: Palo Alto, California
• Ideal investment range: $1M - $50.0M
• Notable portfolio companies: Veza, Moderne, Understory

You can find more information about Puneet Agarwal on the True Ventures website or his LinkedIn profile.

10. Alex Clayton

Alex Clayton is a General Partner at Meritech Capital, a firm known for backing high-growth technology companies. His position within a growth-stage venture firm provides founders with access to significant capital and a network designed for scaling.

He concentrates on Series A and Series B rounds, often with an investment size around $12 million. His portfolio, which includes companies like Personio and Flock Safety, shows a clear interest in enterprise SaaS, cloud infrastructure, and cybersecurity.

Founders with a proven product in the enterprise software sector who are raising a substantial growth round would find a good partner in Clayton. He is well-suited for companies that are ready to accelerate their market presence and scale their operations.

• Investment stages: Series A, Series B
• Industries of focus: SaaS, Enterprise, Cloud Infrastructure, Cybersecurity, SMB Software
• Geographical presence: San Francisco, California
• Ideal investment range: $5.0M - $25.0M
• Notable portfolio companies: Personio, Flock Safety, Framer, tray.io

You can find more information about Alex Clayton on the Meritech Capital website or his LinkedIn profile.

11. Sameer Gandhi

Sameer Gandhi is a partner at Accel, bringing a wealth of experience from his time at both Accel and Sequoia Capital. His background includes a long tenure in venture capital, making him a seasoned investor for growth-stage companies.

He primarily focuses on Series A and Series B rounds, often with a substantial investment size around $25 million. His portfolio, which includes companies like Public and Fictiv, indicates an interest in SaaS, consumer internet, and cloud infrastructure businesses.

Founders who have established product-market fit and are seeking significant capital to scale their operations would find a good partner in Gandhi. His deep technical background and experience at top-tier firms suggest he can provide both funding and valuable strategic support.

• Investment stages: Series A, Series B
• Industries of focus: SaaS, Consumer Internet, Cloud Infrastructure, SMB Software
• Geographical presence: San Francisco, California
• Ideal investment range: $15.0M - $70.0M
• Notable portfolio companies: Public, Fictiv, Wizard, Orum.io

You can find more information about Sameer Gandhi on the Accel website or his LinkedIn profile.

12. Omar Hamoui

Omar Hamoui is a partner at Mucker Capital and brings significant experience as a founder, having created AdMob which was later acquired by Google. This operator background shapes his investment approach, making him a valuable resource for early-stage teams.

A key characteristic of his investment style is a focus on Seed and Series A rounds, often with a smaller check size around $25K. His portfolio, which includes companies like Emotive and Resilia, shows his interest in SMB software and consumer-focused businesses.

Founders at the seed stage building in the SMB software, IoT, or consumer internet spaces would be a great match for Hamoui. His experience as a successful founder makes him an ideal partner for those looking for hands-on mentorship alongside an early check.

• Investment stages: Seed, Series A
• Industries of focus: SMB Software, IoT, Consumer Internet
• Geographical presence: Santa Monica, California
• Ideal investment range: $10K - $50K
• Notable portfolio companies: Emotive, Resilia, LoudCrowd

You can find more information about Omar Hamoui on the Mucker Capital website or his LinkedIn profile.

13. Daegwon Chae

Daegwon Chae is a partner at Bond, a growth-stage investment firm. His role gives founders access to the resources of a major fund while he maintains a focus on consumer and SMB software companies.

He concentrates on Seed and Series A rounds, with an investment sweet spot of $8 million, indicating he can lead or significantly participate in early funding. His portfolio includes companies like Yassir and Flink, showing an interest in businesses with high-growth potential in consumer-facing markets.

Founders building in the consumer internet or SMB software space who are ready for a substantial early-stage investment would be a good match. Chae is a good partner for companies that have established some initial traction and are seeking capital to scale quickly.

• Investment stages: Seed, Series A
• Industries of focus: Consumer Internet, SMB Software
• Geographical presence: San Francisco, California
• Ideal investment range: $1M - $25.0M
• Notable portfolio companies: Yassir, Flink, Halter

You can find more information about Daegwon Chae on the Bond Capital website or his LinkedIn profile.

14. Venkat Mohan

Venkat Mohan is an investor with a long history as an Operating Partner at Norwest Venture Partners, a major venture firm. This background suggests he brings substantial operational experience to his investments, rather than just capital.

He concentrates on Seed and Series A rounds in enterprise, cloud, and SMB software. With a typical check size around $25K, he is likely an early partner for founders, providing initial capital and guidance.

Founders building enterprise or cloud tools who are looking for a partner with deep operational experience from a long career in venture capital would be a good match. He is well-suited for teams that need strategic support alongside an early-stage investment.

• Investment stages: Seed, Series A
• Industries of focus: Enterprise, Cloud Infrastructure, SMB Software
• Geographical presence: San Francisco Bay Area
• Ideal investment range: $10K - $50K
• Notable portfolio companies: RiseSmart, 41st Parameter

You can find more information about Venkat Mohan on his LinkedIn profile.

15. Mark Dzialga

Mark Dzialga is the Founder and Managing Partner of Brighton Park Capital, a growth-stage investment firm. His background includes a long tenure as a Managing Director at General Atlantic, giving him deep experience in backing companies ready for significant expansion.

A defining characteristic of his investment approach is the focus on substantial growth rounds, with a typical check size around $25 million. His firm has shown a strong interest in health tech and SMB software, backing companies like NuORDER and MathCo.

Founders with an established business in the health or software sectors who are seeking a significant capital injection for a Series A or later round would be a good match. His position as a firm founder suggests he can provide both the capital and strategic guidance needed for major market growth.

• Investment stages: Seed, Series A
• Industries of focus: Health & Hospital Services, Digital Health, Health IT, SMB Software
• Geographical presence: New York, New York
• Ideal investment range: $20.0M - $150.0M
• Notable portfolio companies: HTEC, MathCo, NuORDER

You can find more information about Mark Dzialga on the Brighton Park Capital website or his LinkedIn profile.

What Startup Founders Should Look for in a SMB Software Investor

Finding the right investor for your SMB software startup is about more than just the capital. It's crucial to find a partner whose investment thesis and operational experience align with your company's stage and goals. Consider whether you need a hands-on operator with founding experience or a partner from a larger firm with a broad network.

As you can see from our list, many investors are concentrated in tech hubs like New York and the Bay Area, though their interests often extend beyond just one city. Many also invest across related sectors like enterprise software, FinTech, and AI, so look for patterns in their portfolio that match your specific niche.

The process of finding angel investors requires careful research. Before reaching out, analyze an investor's past investments, typical check size, and preferred funding stage. This preparation will help you build a targeted list of potential partners who are genuinely a good fit for your round.

Raise Confidently with Rho

Fundraising requires significant time and focus, which are always in short supply for founders. A targeted list of relevant angel investors helps you direct your energy where it matters most.

Once you've secured your funding, Rho can help you set up your financial stack in minutes. We provide business banking, corporate cards, and bill pay solutions built for startups managing new capital.

This setup helps direct your angel capital toward growth and operations, rather than getting lost in manual financial admin. It gives you the clarity and control needed to manage your funds efficiently from day one.

FAQs about SMB Software Angel Investors

Are there angel investors for SMB software in emerging tech hubs?

Yes, while many investors are in New York and the Bay Area, thriving angel communities exist in cities like Austin and Miami. These investors often seek local opportunities and can provide a valuable regional network for your SMB software company.

What do investors look for in a B2B SaaS startup?

Investors typically look for a strong founding team, a clear understanding of the target customer, and evidence of product-market fit. For B2B companies, early revenue or a compelling pilot program can demonstrate significant traction.

How much equity do angel investors typically take?

Angel investors often seek 10-25% equity in a seed round, though this varies based on your valuation and the check size. The goal is to secure enough capital for growth without giving away too much of your company.

Can I raise an angel round if I'm a solo founder?

While many investors prefer to back a team, it is possible to raise an angel round as a solo founder. You'll need to demonstrate exceptional domain expertise and a clear plan for building out your team as the company grows.

How can Rho help manage my new angel investment funds?

Once you've secured funding, Rho provides an all-in-one platform to manage your capital. You can open business bank accounts, issue corporate cards, and automate bill pay, giving you full control over your new funds. Get started with Rho.