Funding round
Acorns Series E
Acorns, which works in investment management services in Irvine, raised $105M in a Series E round announced on 28 Jan 2019, led by Comcast Ventures and NBCUniversal, at a $860M post-money valuation. 7 firms took part. It is Acorns' third venture round on record; the one before was a Series C in Apr 2015.
$105M
Amount raised
$860M
Post-money valuation
$755M pre-money
7
Investors
2 leads
10x
Step-up from the Series C
$83M in Apr 2015
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Acorns at $860M after the new money, 10.3 times the $83M of its Series C (Apr 2015). The $105M bought investors about 12% of the company. It came 45 months after Acorns' Series C. It is 24% of the $436M Acorns has raised in the venture rounds on record. Acorns raised again 38 months later: a Series F round of $300M in Mar 2022, at $1.90B post-money.
Acorns' funding rounds
Acorns has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Comcast Ventures and NBCUniversal led the round with 5 other firms.
Lead investors
- backs 73 venture-backed companies new investor
- NBCUniversal new investor
Also in the round
- Bain Capital Ventures backs 220 venture-backed companies new investor
- BlackRock new investor
- TPG backs 114 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
- MSD Capital new investor
Joined the board: Mark Hoffman (NBCUniversal).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Investment Consultants & Financial Advisors, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Stash Investment Consultants & Financial Advisors | 14 Mar 2019 | $65M | not disclosed | Unnamed Private Institutional Investor |
| Investment Consultants & Financial Advisors | 19 Jun 2018 | $50M | not disclosed | General Atlantic |
| Farmers Business Network Farms & Agriculture Production | 1 Jan 2019 | $175M | not disclosed | not named |
| Collibra Tech Companies | 29 Jan 2019 | $100M | $1.00B | CapitalG |
| Gousto Groceries | 11 Jan 2019 | $23M | not disclosed | not named |
| Databricks Tech Companies | 5 Feb 2019 | $250M | $2.75B | Andreessen Horowitz |
| Gift Shops | 13 Dec 2018 | $208M | not disclosed | Permira and T. Rowe Price |
| OYO Hotels | 3 Dec 2018 | $100M | not disclosed | Grab |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Acorns raise in its Series E round?
Acorns raised $105M in its Series E round, announced in Jan 2019.
Who led Acorns' Series E round?
Comcast Ventures and NBCUniversal led it, with Bain Capital Ventures, BlackRock, TPG, DST Global and MSD Capital.
What was Acorns' valuation at the Series E round?
$860M post-money ($755M pre-money).
Did Acorns raise again after this round?
Yes: a Series F round in Mar 2022 of $300M at $1.90B post-money.