Terms of Use

Last updated: October 19, 2026

These Terms of Use (“Terms”) govern your access to and use of adperch.ai and the AdPerch service (the “Service”), operated by AdPerch, Inc., a Delaware corporation with its principal place of business in Oakland, California (“AdPerch,” “we,” “us”). By using the Service — including reserving a perch, claiming a profile, or otherwise interacting with the site — you agree to these Terms. If you don’t agree, please don’t use the Service.

What AdPerch is

AdPerch helps founders and investors find each other. Founders describe what they’re building; investors describe what they back; and our matching tools surface potential fits. An introduction between a founder and an investor only happens when someone takes an explicit action to make it — we don’t connect you to anyone without that step. AdPerch is a tool to support your fundraising or sourcing, and we’re not a party to any deal.

Intros from AdPerch. If you turn on “Intros from AdPerch,” we may describe your company, without anything that identifies you, to funds we work with, and we ask you before a fund meets you. We don’t charge a fee for an introduction, and we don’t take a share of any investment.

Who can use it

You must be at least 18 and able to enter a binding agreement. If you use AdPerch on behalf of a company or fund, you confirm you’re authorized to act for it, and “you” includes that organization. You’re responsible for keeping your account credentials secure and for activity under your account.

Plans and payment

Some parts of AdPerch are paid. Current plans and prices are published at adperch.ai/pricing. Some offers are made only inside the app, such as Community Plus; their price is shown in the app before you buy. The plan you’re on, and anything you’ve added to it, is shown in Plan & Billing in your account.

Subscriptions and add-ons renew automatically each month until you cancel. You can cancel at any time from Plan & Billing, or from the billing page our payment provider, Stripe, hosts for us. Canceling stops future charges and takes effect at the end of the period you’ve already paid for, so you keep what you paid for until then. Until that date you can undo the cancellation from Plan & Billing at no charge.

When you add something partway through a billing period, such as an extra perch, the first charge covers only the part of the period that’s left, and it’s added to your next invoice. Apart from that, payments are non-refundable, and we don’t refund or pro-rate the unused part of a period when you cancel or remove something, except where the law requires otherwise.

Extra perches. If you run more than one business, you can add an extra perch for each one, at the price shown on our pricing page. Any account with Founder access can buy one, except during a free trial of the Founder plan. If you pay for the Founder plan, the extra perch is added to that subscription. If your Founder access is free, for example from the beta or a complimentary grant, the extra perch is its own monthly subscription, and you’ll be asked for a card.

Canceling an extra perch works the same way either way: it stays open to the end of the period you’ve paid for, and you can keep it by undoing the cancellation before then. After that date the business stays in your account with everything on it, read-only: you can see it, but you and anyone you’ve given access to can’t change it. We stop matching it with funds, it isn’t listed on funds’ boards or on Town Square, and its PerchLinks stop showing it. Nothing is deleted.

If your account loses Founder access, any extra perch you pay for separately stops renewing and stays open to the end of the period you’ve already paid for. We’ll email you when that happens. An extra perch added to a Founder subscription ends when that subscription does.

Limits and credits. Each plan includes a set amount of Percy and, on some plans, design credits for making images. When you reach a limit, that feature pauses until it resets. The app shows your limits and when they reset. Monthly credits renew on the date shown in Plan & Billing; credits you don’t use don’t carry over, can’t be exchanged for money, and end when the plan that gave them ends.

Community Plus is a paid upgrade to the free Community plan. It adds more Percy, monthly design credits, access for an AI tool you connect (see “Connecting an agent”), and Bulletin Board cards that go up without waiting for review. It doesn’t include fund matching, Pipeline or Applications. If you cancel it, your account goes back to Community at the end of the period you’ve paid for.

If we change a price, the new price applies to new subscribers only. Your price does not change while your subscription runs without interruption. If we ever need to change the price of a plan you are already on, we’ll give you at least 30 days’ notice before it applies to you, so you can cancel first. A price change never applies to a period you’ve already paid for.

If you reserved a perch while a founding rate was offered, that rate is yours when your subscription begins. If you subscribed while a founding rate was offered, it stays yours for as long as your subscription runs without interruption. If you cancel and come back later, you come back at whatever price is then current.

Dates and deadlines in these Terms, including the founding-rate cutoff and any free period, are Pacific Time.

If you joined during the beta, your plan is free through December 31, 2026. To keep your plan after that, add a payment method before the end of 2026 — you can do that from your account at any time, and nothing is charged until January 1, 2027. If there’s no payment method on file when the free period ends, your plan simply ends. Nothing is charged, and you can start again later at the price then current.

We may offer promotional, complimentary, or friends-and-family access from time to time, on terms we set when we offer it. That access can be for a fixed period or open-ended, and we may end it early. When it ends, nothing is charged unless you choose to subscribe.

The investor side of AdPerch is free today. That could change, and if it does we’ll give notice before it applies to anyone.

How fund information is sourced

AdPerch builds investor and fund profiles from publicly available sources — including public regulatory filings (such as SEC EDGAR), published news articles, and research across public online sources — and from information that a fund or investor provides or confirms directly. We work to keep this information useful and reasonably accurate, but we don’t guarantee it’s complete, current, or error-free.

Funding rounds. Signed-in founders can see funding rounds a fund has taken part in: the company, the round, the amount, the date, and whether the fund led. We compile these from news articles and public filings, using software and an AI model to read them, and we link the source. They’re shown as reported in public sources. Reports can be wrong, incomplete or out of date, and the way we read them can be wrong too: an amount, a round, a date or who led may be misstated. A round we show is not a statement by the fund or the company unless it says it came from them. If a round is wrong, anyone can tell us at contact@adperch.ai and we’ll correct it. We remove a round that is accurate only when the company it describes asks us to. How much of this you see depends on your plan.

If a profile concerns your firm, you can claim it, correct it, or ask us to remove it. To claim a profile you may be asked to verify your association with the firm. We may approve, decline, or revoke a claim at our discretion, and we may remove or modify any profile or content.

Fund profiles. Some profiles on AdPerch describe venture funds and are compiled by us from publicly available sources (for example, regulatory filings and fund websites). Unless a profile has been claimed by the firm it describes, it is not authored, reviewed, or endorsed by that firm, and no affiliation is implied. Compiled information may be incomplete, inaccurate, or out of date, and you’re responsible for verifying it independently before relying on it. If a profile concerns your firm, see the claiming note above.

Deal data

Signed-in founders can see funding rounds a fund has taken part in: the company, the round, the amount, the date, and whether the fund led or participated. Percy, AdPerch’s software, compiles these from news articles and public filings, using an AI model to read them, and links the source of each round. They’re shown as they were reported in public sources. The same data reaches you through Percy’s answers and through an agent you connect, and every one of those carries the same short caution.

We don’t guarantee that deal data is accurate, complete or current. Reports can be wrong, incomplete or out of date, and the way we read them can be wrong too: an amount, a round, a date, the investors or who led may be misstated, and a round may be missing altogether. Not every round is reported, so a fund with no round shown, or without an “Active” tag, may still be investing. The linked source is the place to confirm a figure.

Deal data is information, not advice. It isn’t investment, legal, financial or fundraising advice, and it isn’t a recommendation to approach, apply to, prioritize or avoid any fund. Counts and labels such as “Active” and “Most active” describe how many rounds were reported about a fund in a period; they say nothing about a fund’s quality, its intentions, or how likely it is to invest in you. What you do with deal data is your decision.

A round we show is not a statement by the fund or by the company unless it says it came from them. Source links go to third-party sites that we don’t control and aren’t responsible for.

If a round is wrong, anyone can tell us at contact@adperch.ai and we’ll correct it. We remove a round that is accurate only when the company it describes asks us to. How much deal data you see depends on your plan.

Claiming your fund

Funds appear on AdPerch before anyone from the firm arrives. We build those records from public sources — the fund’s own site, public filings — so founders can find funds that fit them.

If it’s your fund, you can claim it. Claiming means telling us you’re authorized to speak for the firm, and we check before we approve. Once approved, you control what the record says, and what it says becomes the firm’s own words rather than our summary of them.

If two people claim the same fund, we’ll sort it out with the firm before either takes control. If a claim turns out not to be authorized, we’ll revoke it.

An account can be a founder account or an investor account, not both. When we approve your claim, your account becomes an investor account. If you were paying for the Founder plan, it stops renewing and runs to the end of the period you’ve paid for; free Founder access, such as beta or complimentary access, ends when the claim is approved. Any extra perch you pay for separately also runs to the end of its paid period, and we’ll email you about it.

And if you’d rather not be listed at all, tell us and we’ll remove the record. You don’t have to claim it first.

Your content and your perch

You keep ownership of the information you add to your perch. By adding it, you grant us a limited license to host, display, and process it to operate the Service — for example, to generate matches, to power your AI agent, and, only when you take an explicit action, to share it as part of an introduction you initiate. You’re responsible for the accuracy of what you submit and for having the right to share it. Don’t post anything false, misleading, unlawful, or that infringes someone else’s rights. You control who you share your perch and documents with — through matching, Town Square, or a link you send — and you’re responsible for those choices and for what recipients do with what you share.

We may use general, non-identifying information about what founders are building — sector, stage, and topic — to describe the kind of work on AdPerch, including publicly. In that description we never publish your name, your company, your location, or anything you’ve written.

Percy

Percy is an AI agent. When you’re talking to Percy, you’re talking to software — a large language model working from the record you’ve built on AdPerch, and from fund information we have on file.

What Percy does: reads and summarizes your own record, drafts text you can edit, answers questions about your raise and about funds, and surfaces which funds fit what you’ve written.

What Percy doesn’t do: give investment, legal, tax or financial advice. Nothing Percy says is a recommendation to raise, to accept an offer, or to invest. Percy also can’t tell you what a fund will decide.

Percy’s output is generated. It can be wrong, incomplete or out of date, and you should check anything you rely on. Where Percy cites something from your record, that citation resolves to a real event on your record — but the words around it are still generated.

Percy preparing or proposing something is never the same as sending it — that step is always yours.

Nothing agreed through Percy is binding

Percy can draft, suggest and prepare things. Percy cannot agree to anything on our behalf or on yours.

Nothing said in a conversation with Percy — by you, by us, or by an agent acting for either of us — creates a contract, a non-disclosure obligation, a commitment to invest or to fund, a settlement, or any other binding agreement. That’s true whether the conversation happens in the product, over our agent interface, or anywhere else Percy appears.

The same goes for anything a founder and a fund say to each other through AdPerch. We provide the surface; any agreement between you and another user is between the two of you, and we’re not a party to it.

Agreements with AdPerch are in writing, from us, and signed.

How matching works

AdPerch decides which funds to surface to you, and which founders to surface to a fund, using automated matching — software comparing what you’ve written against what a fund has published or told us.

Where you’re based. Some funds say they invest only in certain countries or regions. We read that from the fund’s own published words, using an AI model, and keep it only when the fund’s text says it plainly. If you’ve told us where you’re based and it’s outside a fund’s stated regions, we don’t surface that fund to you. If you haven’t told us, or we can’t tell which country your location is in, those funds still appear, ranked lower. You can add or change your location at any time. A fund’s stated regions can be read wrong; if you think one has been, tell us and we’ll check it.

No human reviews each match, and no match is a decision about you. A fit score is a comparison, not a judgment, and it doesn’t decide whether anyone funds you.

You can see what your match is based on, change it by editing your record, and ask us to explain how a match was reached. You can also ask us to stop surfacing you to funds — email us and we’ll do it.

No guarantee of outcomes

AdPerch does not guarantee that you’ll be matched, introduced, funded, or that any introduction will lead to a meeting, investment, or any particular result. We don’t endorse, vet, or vouch for any founder, investor, or fund on the platform, and we’re not responsible for the conduct, decisions, representations, or agreements of anyone you connect with through the Service. Any dealings you enter into with another party are solely between you and them.

Using what you find

AdPerch exists so founders and funds find each other. What you find here is yours to act on.

If you’re a founder, you can contact any fund you find, send them a link to your perch, and carry that conversation wherever it goes — email, a call, a term sheet. If you’re a fund, you can evaluate any founder who reaches you here, contact them, and take the relationship forward however you both prefer.

We don’t take a cut, we don’t require you to keep talking here, and we don’t ask to be told how it went. Relationships that start on AdPerch belong to the people in them.

What stays here

What you may not do is take the collection.

Don’t systematically copy, export, scrape or bulk-download the funds, founders or profiles on AdPerch. Don’t use what’s here to build a competing directory, dataset or matching service, and don’t resell or redistribute it. Don’t use automated tools to enumerate the platform beyond the interfaces we give you.

Acting on what you find is the product. Taking what we compiled is not. If you’re not sure which side of that line something falls on, ask us.

Beyond that: don’t impersonate any person or firm or claim a profile you’re not authorized to claim; don’t upload malicious code or attempt to breach security, access another user’s perch, or interfere with the Service’s operation; and don’t use AdPerch to send spam or for any unlawful purpose. We may suspend or terminate access that violates these Terms.

Your materials

If you upload files or add links to your Data Room, they stay yours. You give us a limited license to store them, to scan them for malware and make small previews of them, to deliver them to the people you share them with — through a link you send or an application you submit — and to let Percy read them when you add them or ask about them. We don’t use them for anything else, and we never use them to train AI models.

You’re responsible for having the right to upload what you add. Don’t upload anything unlawful, or anyone else’s confidential information that you aren’t permitted to share.

We host your materials; we aren’t a party to what you share. Who sees a document is your choice, made when you send a link or submit an application. We don’t review, verify, or vouch for your materials, and we aren’t responsible for what a recipient does with them.

Using AdPerch doesn’t create a confidentiality agreement between you and a fund, and we aren’t a party to any NDA. If you need one, get it from the fund before you share.

We scan uploads for malware; a scan isn’t a guarantee. If a scan flags a file, we delete it rather than store it, and we keep a record that it was flagged; the Privacy Policy says what that record holds and what’s left of it if you delete your account. Files other than PDFs download rather than open in the browser. We don’t guarantee your materials will always be available, so keep your own copies. Storage limits and the file types we accept may change.

We keep your materials while your account exists. If you delete your account, we delete them within 30 days; backups are cleared on their normal cycle.

People you know

Warm Paths lets you list the funds where you know someone, so other founders can ask you for an introduction. You can add them by hand, or import your network from a contacts file.

If you import, it has to be your own: the export of your own LinkedIn connections, or your own Google Contacts. Don’t upload anyone else’s file, or a list you bought, scraped or were handed.

When you add a person, you’re telling us you actually know them and that you have the right to share their name, job title and profile link or email address with us for this purpose. Only add people you’d be comfortable introducing someone to.

Warm Paths is for genuine introductions. Use the paths you list, and the asks you get, to introduce founders to people you know, and for nothing else. Don’t use them to market to anyone, and don’t sell, share or export the list. A founder who asks you sees only that you have a path to a fund, never who it runs through, and the person you know stays yours to introduce or not.

If someone asks us to take them off a member’s list, we will. We may also remove a path, a person, or your access to Warm Paths if we think these rules aren’t being kept.

The Bulletin Board

The Bulletin Board is where founders on AdPerch pin short cards: help they need, help they can give, a trade of services, a question for other founders, a resource, or news about their own company. Cards are shown only to signed-in founders, including people in co-founder matching, and never to investors. They aren’t public and aren’t indexed by search engines. A card shows your role, or your business’s name if you choose, not your own name.

A card can’t carry links, email addresses, phone numbers or social handles, and it can’t be used to raise money or to offer an investment. Raising happens through matching and Pipeline, not the board. We may hold a card for review before it goes up, and we limit how many cards you can post and how many you can have up at once. A card closes after 30 days, and you can repost it. You can take down or delete your own card at any time.

Any founder who can see a card can report it. We may take a card down, or remove someone’s access to the board, if we think it breaks these rules or anything else in these Terms. A card we take down can’t be reposted.

A reply to a card is private between the person replying and the person who posted the card. Like a card, it can’t carry links, email addresses, phone numbers or social handles, and we limit how many replies you can send in a day. A conversation starts only if the person who posted the card accepts the reply.

Cards marked “Example” are AdPerch’s own, there to show what the board is for. They aren’t real posts and can’t be answered.

If you’re a fund, what you can do with what you see

When a founder reaches you through AdPerch, you can read everything they’ve shared, discuss it inside your firm, and use it to decide whether to talk to them. That’s the point.

What you can’t do with it: add it to a dataset or database you’re building, share it outside your firm, sell it, or use it to train a model.

If you pass, you don’t keep working from it. You can keep your own notes about a conversation you had — those are yours. The materials a founder shared with you are theirs, and your access to them ends when your relationship with them does.

Materials you receive

If a founder shares materials with you — through a link or in an application — they’re shared so you can evaluate an investment, and for nothing else. Don’t redistribute them or share them outside your fund. The founder can withdraw access at any time.

When you open a founder’s material, that’s recorded for the founder.

Breaking these terms is grounds for removing your fund and its members from AdPerch.

Greenlighting a founder

When a fund greenlights a founder, contact opens between them and the founder can see who the fund is. That’s a decision the fund makes, not one we make for them, and it can’t be taken back — the founder has already seen it.

Greenlighting isn’t a commitment to invest and doesn’t create one. It means you’re open to talking.

When you share access

If you add someone to your perch or your fund, they can see what that record contains and take the actions their access level allows. You choose that level and you can change or remove it at any time.

Anything they write becomes part of what your business says. If a teammate edits the record, sends a PerchLink or messages a fund, it goes out in the business’s name, and you’re responsible for it the same as if you’d written it.

Everything above applies to anyone you give access to — including the limits on founder materials described above. If someone leaves your firm, remove their access.

Their own account is theirs. Removing someone’s access ends what they can see of your business — it doesn’t touch anything in their own account, and it doesn’t delete anything they own.

When a seat ends, that person’s access ends with it. Anything they saved while seated stays subject to the same limits that applied to the fund — evaluate and contact that founder, nothing else.

Connecting an agent

You can connect your own AI agent or tool to AdPerch through the interfaces we provide, using credentials we issue to you.

Those credentials are yours and you’re responsible for what’s done with them. An agent acting on your credentials is acting as you. That includes greenlighting a match, submitting an application, expressing interest in a co-founder and editing your perch. The AI app or tool you connect is provided by someone else under their own terms: you choose it, and you’re responsible for what it does with your credentials.

An agent can do what you can do, and no more. It reaches one account’s record — your own perch, or the funds you own or hold a seat on — and nothing beyond it. It can read what you can read and change what you could change by hand: on a founder account, your perch, your matches and your applications; on a Community Plus account, your perch and your conversation list, and never fund matches, Pipeline or Applications; on a fund account, that fund’s own inbound applications and the founders whose stage and sector fit its stated criteria, in the same card-only form the app shows, without founder names or contact details. It is not a search of our founders and not a directory.

Anything that cannot be undone asks first. Submitting an application, withdrawing one, and greenlighting a match or a founder each require an explicit confirmation on the call, so an agent cannot take one of those by accident. An introduction still takes a deliberate action by a person.

You can revoke a credential at any time, from your account, with immediate effect. Revoking does not undo what has already been done with it.

If you are a founder, this is the channel that clause is about. While you are raising, a fund whose criteria you fit can view your perch in the app or through an agent it has authorized — the same information either way, and your contact details stay private until you both show interest in proceeding to application.

What you get through an agent interface is for your own use of AdPerch. You may not retain it after your access ends, redistribute it, resell it, or use it to train a model or build a competing dataset. We may limit how often an agent can call us, and we may suspend a credential that’s costing us more than the account it belongs to.

Intellectual property

The Service — including the AdPerch name, design, software, and the compiled organization of its content — belongs to AdPerch and is protected by intellectual-property laws. These Terms don’t grant you any right to our branding or to the platform beyond the limited use needed to operate as a user.

Third-party services and links

AdPerch relies on third-party providers — the ones that see text you have written are named in our Privacy Policy, and that list is the single place we keep it current — and may link to third-party sites. We’re not responsible for third-party services or content, which are governed by their own terms.

Disclaimers

The Service is provided “as is” and “as available,” without warranties of any kind, whether express or implied, including any implied warranties of merchantability, fitness for a particular purpose, accuracy, or non-infringement, to the fullest extent permitted by law. We don’t warrant that the Service will be uninterrupted, secure, or error-free, or that any information on it is accurate or complete.

Limitation of liability

To the fullest extent permitted by law, AdPerch and its operators will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any lost profits, lost opportunities, lost data, or lost funding, arising out of or relating to your use of the Service — even if we’ve been advised of the possibility. To the fullest extent permitted by law, our total liability for any claim relating to the Service is limited to the greater of the amount you paid us for the Service in the twelve months before the claim, or US $100.

Indemnification

You agree to indemnify and hold AdPerch harmless from claims, losses, and expenses (including reasonable legal fees) arising from your use of the Service, your content, or your violation of these Terms or of any law or third-party right.

Changes to the Service and these Terms

We’re an early-stage product and the Service will change. We may add, modify, or discontinue features at any time. We may also update these Terms; when we do, we’ll revise the “Last updated” date above, and your continued use after a change means you accept the updated Terms.

Termination

You can stop using AdPerch at any time. We may suspend or end your access if you violate these Terms or if we discontinue the Service. Sections that by their nature should survive — such as intellectual property, disclaimers, limitation of liability, and indemnification — will survive termination.

Governing law

These Terms are governed by the laws of the State of California, without regard to its conflict-of-laws rules, and you agree to the exclusive jurisdiction of the state and federal courts located in California for any dispute that isn’t otherwise resolved.

Contact

Questions about these Terms? Email contact@adperch.ai.