Funding round
Acorns Series F
Acorns, which works in investment management services in Irvine, raised $300M in a Series F round announced on 9 Mar 2022, led by TPG, at a $1.90B post-money valuation. 11 firms took part. It is Acorns' fourth venture round on record; the one before was a Series E in Jan 2019.
$300M
Amount raised
$1.90B
Post-money valuation
$1.60B pre-money
11
Investors
1 lead
2.2x
Step-up from the Series E
$860M in Jan 2019
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Acorns at $1.90B after the new money, 2.2 times the $860M of its Series E (Jan 2019). The $300M bought investors about 16% of the company. It came 38 months after Acorns' Series E. It is 69% of the $436M Acorns has raised in the venture rounds on record. No later venture round is on record for Acorns.
Acorns' funding rounds
Acorns has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
TPG led the round with 10 other firms.
Lead investor
- TPG backs 114 venture-backed companies new investor
Also in the round
- BlackRock new investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
- Galaxy backs 113 venture-backed companies new investor
- Greycroft backs 236 venture-backed companies new investor
- Blue Owl Capital backs 36 venture-backed companies new investor
- Senator Investment Group new investor
- backs 34 venture-backed companies new investor
- backs 65 venture-backed companies new investor
- backs 163 venture-backed companies new investor
- backs 55 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Investment Consultants & Financial Advisors, then Series F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 29 Sep 2021 | $60M | $1.30B | Treasury |
| SiFive Electronical Components Manufacturing | 16 Mar 2022 | $175M | $2.50B | Coatue |
| SHEIN Clothing Stores | 30 Apr 2022 | $1.88B | not disclosed | not named |
| XpressBees Shipping Couriers | 9 Feb 2022 | $300M | $1.20B | Blackstone and TPG |
| Salsify Tech Companies | 13 Apr 2022 | $200M | $2.00B | TPG |
| Bloomreach Tech Companies | 23 Feb 2022 | $175M | $2.20B | Goldman Sachs Asset Management and Goldman Sachs |
| SpotOn Payment Processing & Point of Sale | 18 May 2022 | $300M | $3.60B | Dragoneer Investment Group |
| Creditas Loans & Financing | 25 Jan 2022 | $260M | $4.80B | Fidelity Management and Research Company |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Acorns raise in its Series F round?
Acorns raised $300M in its Series F round, announced in Mar 2022.
Who led Acorns' Series F round?
TPG led it, with BlackRock, Bain Capital Ventures, Galaxy, Greycroft and Blue Owl Capital and 5 more.
What was Acorns' valuation at the Series F round?
$1.90B post-money ($1.60B pre-money).