Alex Immerman

Immerman grew up in New Jersey, graduated summa cum laude from the Wharton School at the University of PennsylvaniaUniversity of PennsylvaniaThe University of Pennsylvania, commonly called Penn, is a private research university and Ivy League member in Philadelphia. It traces its origins to a 1740 charity-school project; Benjamin Franklin proposed his academy in 1749, classes began in 1751, and a 1791 merger established the institution under its present name. Penn has 12 schools, with undergraduate education concentrated in arts and sciences, engineering, nursing and Wharton. Enrollment totaled 29,384 in fall 2025, and the fiscal 2025 endowment was $24.81 billion. As of October 2026, J. Larry Jameson was president, with his term scheduled to end on June 30, 2027.Open the full entry and earned an MBA with distinction from Harvard Business School. Early in his career he was an investment banker at Allen & Co. and served in chief of staff roles for the CFO of Facebook and the CEO of Gainsight, then invested in and partnered with growth-stage technology companies at the growth investor General Atlantic.⁠[1][1][1][1][1]

By 2023 Immerman was a partner on the growth team at Andreessen Horowitz, focusing on fintech, consumer, enterprise and crypto/web3 companies. In August 2023 he and Jamie Sullivan wrote about why investors care so much about the ratio of customer lifetime value to acquisition cost, noting that investors often use 3x as a rough benchmark of a consumer company’s financial health.⁠[2][2][2]

In July 2024 a16z led the latest funding round of Hebbia, an AI platform for financial services and knowledge work, and Immerman joined its board. He argued that software was moving from software-as-a-service to service-as-a-software.⁠[3][3][3]

In August 2025 a16z led the latest financing of the AI property management company EliseAI, and Immerman joined its board. In September he and Santiago Rodriguez, after analyzing hundreds of AI companies, recommended rebasing retention and customer acquisition calculations from month 0 to month 3. In October a16z co-led the latest round of the prediction market platform Kalshi; he recalled first meeting Kalshi co-founder Tarek MansourTarek MansourTarek Mansour is an American entrepreneur and the co-founder and CEO of Kalshi, a prediction market and event contract trading platform. After graduating from the Massachusetts Institute of Technology, he founded Kalshi with Luana Lopes Lara in 2018; the company was designated a contract market by the U.S. Commodity Futures Trading Commission (CFTC) in 2020 and began offering U.S. election contracts in 2024 following litigation.Open the full entry at a coffee shop in May 2024, and noted that Kalshi had reached more than $50 billion in annualized volume, up more than 25-fold since the start of the year.⁠[4][5][6][6][6]

In December 2025 Immerman wrote that self-driving cars are life-saving “social robots,” arguing that driving is a social achievement as impressive as the car was a technical one.⁠[7][7]

In March 2026, as public software ETFs fell 30 percent from the start of the year amid fears of a “SaaSpocalypse,” Immerman and Santiago Rodriguez argued that AI would not kill software companies but would be the best thing that ever happened to the industry; that month the two also published a case study of Revolut. In April he and David Ulevitch wrote about Flock Safety and the drop in major crimes in San Francisco, and with Rodriguez he discussed the maturing of prediction markets, starting from the first Kalshi Research conference. In May he co-wrote an essay on enterprise software’s shift from “system of record” to “system of intelligence.”⁠[8][8][8][9][10][10][11][12]

On September 29, 2026, Immerman and Rodriguez wrote about who gets paid when AI agents shop on consumers’ behalf, and how marketplaces, payments and advertising players divide the value. On September 30 he, David GeorgeDavid George (a16z)David George is a venture capitalist and general partner at Andreessen Horowitz (a16z). After joining from General Atlantic in 2019, he built and leads a16z’s growth-stage investing practice, leading or participating in investments in companies such as SpaceX, OpenAI, Stripe, Roblox and Databricks.Open the full entry, Sarah WangSarah Wang (a16z)Sarah Wang is a venture capitalist and general partner on the growth team at Andreessen Horowitz (a16z). She joined a16z in 2019 and leads growth-stage investments in AI, enterprise applications and infrastructure, having invested in companies including Character.AI, Wiz, Cursor, Temporal and Exa.Open the full entry and Santiago Rodriguez discussed 25 key charts from a16z’s latest State of Markets presentation, from the scale of the AI infrastructure buildout to AI adoption inside companies.⁠[13][13][14]

As of October 2026 Immerman is a general partner at a16z, leading growth-stage investments at the intersection of AI, consumer, B2B, crypto and the physical world; he has spearheaded investments in ElevenLabs, EliseAI, Flock Safety, Hebbia, Kalshi, Revolut, Sardine, Stripe and Waymo and worked closely with a16z’s investments in Anduril, Coinbase, OpenAI, Robinhood, Roblox and Wise. He lives in San Francisco.⁠[1][1][1][1]

Andreessen Horowitz: Official website: https://a16z.com/ (opens in a new window).⁠[1]

X: Public account: https://x.com/aleximm (opens in a new window)⁠[15][1]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/in/immerman/ (opens in a new window)⁠[15][1]