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The Venture Codex

March Capital

725 Arizona Ave, Suite 304, Santa Monica, CA, 90401, United States

Overview

March Capital is a venture growth firm headquartered in Santa Monica, California and investing globally since 2014. March identifies entrepreneurs with a provocative vision to companies poised, then dares to go all in by leading rounds with deep conviction and concentration risk. With $1B+ in capital over 4 funds and across 30 market technology companies, March accelerates the digital transformation of Cloud-based software, automation, AI, and IT infrastructure. Its vision is to create a technology investment platform by combining intense sector focus, patience, access to a network (including founding The Montgomery Summit), and portfolio engagement to inspire and accelerate extraordinary companies.

Total investments
118
Lead investments
49
Investments · 12mo
5
Active investors
11

Sector focus

  • Business Development
  • Information Technology
  • Venture Capital
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Investment portfolio

  • Together AI

    Participated · Series C · Jul 2026

    Together AI is an AI neocloud founded in 2022 that offers AI-specific infrastructure and tooling to support deployment and usage of open-source models. The company says its platform has driven a tripling of open-source model usage across the industry and reports thousands of paying customers, including Cursor, Cognition, and Decagon. Financially, Together AI reported annual bookings of over $1.15 billion as of its last quarter. Its team includes co-founders Vipul Ved Prakash, Percy Liang, and Ce Zhang. Together AI has raised multiple rounds to date, including a $102.5 million Series A in 2023 and a $305 million Series B about 16 months before this Series C. The company operates amid strong VC interest in neocloud providers and infrastructure for AI model deployment.

  • Uniphore

    Participated · Series F · Oct 2025

    Uniphore is a Business AI company whose core product, the Business AI Cloud, offers enterprises an end-to-end, sovereign, and composable platform for building AI agents that connect data, knowledge, and models across existing tech stacks. Trusted by more than 2,000 global businesses, the platform powers use cases such as multilingual customer service, QA automation, workflow orchestration, and personalized customer experiences for clients including Allstate, Dell, The Washington Post, Priceline, and Skechers. Recent milestones include the spring 2025 launch of the Business AI Cloud and the completed acquisitions of ActionIQ and Infoworks, along with announced acquisitions of Orby AI and Autonom8, all aimed at strengthening Uniphore’s AI talent base and product breadth. The company reports “exponential adoption” among Fortune 500 customers and partnerships with KPMG and Konecta, which are building reusable libraries of AI agents on the platform. Uniphore emphasizes enterprise-grade security, governance, and data sovereignty while retaining consumer-grade ease of use, allowing organizations to move AI projects from pilot to production in weeks. The Series F round values the company at $2.5 billion, underscoring investor confidence in its ability to drive measurable business outcomes at scale.

  • Extend, Inc.

    Participated · Equity · Sep 2025

    Extend offers a modern spend and expense management platform that integrates directly with businesses’ existing credit-card programs, allowing them to create virtual cards for vendor and employee payments. The company partners with more than a dozen banks in the U.S. and Canada and is actively integrating with several top-10 banks as well as smaller issuers. Its API-driven software is expanding beyond virtual cards to include approval workflows, receipt capture, and automated expense reconciliation, and it is preparing to launch a paid SaaS offering. Thousands of companies rely on Extend, and the platform already powers billions of dollars in transactions across the $1.6 trillion U.S. corporate card market. Management is focused on capital efficiency and a clear path to profitability, underscored by the recent hiring of former PayPal executive Francois Horikawa as CFO. Investor interest has been driven by the product’s deep bank integrations, growing issuer pipeline, and the company’s disciplined approach to growth.

  • Extend

    Participated · Equity · Sep 2025

    Extend provides a modern spend and expense management platform that integrates with businesses’ existing bank and credit card relationships. Its software allows companies to instantly issue and manage virtual cards, automate payment workflows, and monitor team and vendor spending in real time. The platform already facilitates billions of dollars in transactions, underscoring meaningful market adoption. Led by CEO Andrew Jamison, Extend positions itself as a partner to financial institutions rather than a replacement, deepening issuer relationships. With its newly raised capital, the company plans to scale partnerships with card issuers and roll out additional expense management services. Management notes that these initiatives are designed to accelerate Extend’s path to profitability. No specific revenue or user numbers were disclosed, but the reference to billions in transaction volume indicates significant usage. Overall, Extend aims to become an indispensable layer atop existing commercial card programs, offering tighter spend controls and transparency to business customers.

  • Lila Sciences

    Participated · Series A · Sep 2025

    Lila Sciences develops an AI-driven platform that trains models on scientific literature across material sciences, chemistry and life sciences and generates experimental hypotheses. The company pairs those model outputs with laboratory setups to experimentally validate and close the loop between prediction and reproducible results. Reporting says Lila aims for a domain‑crossing, general-purpose science enablement stack rather than narrowly focused tools. Financially, it has completed a reported $200 million seed, emerged from stealth last year, and closed a $350 million Series A in October that lifted its valuation above $1.3 billion. Current reporting describes Lila negotiating an approximately $2 billion financing to scale compute, inference and laboratory capacity and to accelerate partner programs. The firm's growth narrative emphasizes standardizing experiment and feedback loops to make discovery repeatable and scalable.

Team

  • Richard Rice

    CEO & Founder

    LinkedIn
  • Jim Armstrong

    Founding Partner

    LinkedIn
  • Gregory Milken

    Co-Founder and Managing Partner

    LinkedIn
  • Jamie Montgomery

    Co-Founder and Managing Partner

    LinkedIn