Funding round
Acorns Series B
Acorns, which works in investment management services in Irvine, raised $5.5M in a Series B round announced on 12 Mar 2014, led by Jacobs Asset Management. 3 firms took part. It is Acorns' first venture round on record.
$5.5M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Acorns did not disclose a valuation in this round. It is Acorns' first venture round on record, 1 year after it was founded in 2013. It is 1.3% of the $436M Acorns has raised in the venture rounds on record. Acorns raised again 13 months later: a Series C round of $26M in Apr 2015, at $83M post-money.
Acorns' funding rounds
Acorns has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Jacobs Asset Management led the round with 2 other firms.
Lead investor
- Jacobs Asset Management new investor
Also in the round
- backs 2 venture-backed companies new investor
- Euro Pacific Capital, Inc. new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
The closest in time: 2 in Investment Consultants & Financial Advisors, then Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 2 Jul 2013 | $15M | not disclosed | Union Square Ventures and Bain Capital Ventures |
| Investment Consultants & Financial Advisors | 1 Jun 2013 | $10M | not disclosed | 5Y Capital and Morningside Capital |
| Tech Companies | 18 Mar 2014 | $74M | not disclosed | Orchid Asia Group |
| Market Research & Opinion Polling | 14 Mar 2014 | $20M | not disclosed | Idinvest Partners |
| Tech Companies | 1 Mar 2014 | $18M | not disclosed | not named |
| Online Marketplace | 1 Mar 2014 | $14M | not disclosed | not named |
| Tech Companies | 13 Mar 2014 | $10M | not disclosed | Yellow Brick Capital |
| Tech Companies | 6 Mar 2014 | $9.3M | not disclosed | XAnge and Seventure Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Acorns raise in its Series B round?
Acorns raised $5.5M in its Series B round, announced in Mar 2014.
Who led Acorns' Series B round?
Jacobs Asset Management led it, with Digital Offering and Euro Pacific Capital, Inc..
What was Acorns' valuation at the Series B round?
It was not disclosed.
Did Acorns raise again after this round?
Yes: a Series C round in Apr 2015 of $26M at $83M post-money.