Funding round
Adept Series A
Adept, which works in enterprise workflow automation solutions in San Francisco, raised $65M in a Series A round announced on 1 Apr 2022. It is Adept's first venture round on record.
$65M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Adept did not disclose a valuation in this round. It is Adept's first venture round on record, in the year it was founded (2022). It is 16% of the $415M Adept has raised in the venture rounds on record. Adept raised again 11 months later: a Series B round of $350M in Mar 2023, at $1.00B post-money.
Adept's funding rounds
Adept has 2 venture rounds on record. This one is highlighted.
- Series A this round 1 Apr 2022 $65M
- Series B 14 Mar 2023, led by General Catalyst and Spark Capital $350M$1.00B post-money
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,917 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 5.2 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Apr 2022 | $120M | not disclosed | Dream Capital |
| Tech Companies | 21 Apr 2022 | $50M | not disclosed | Sprints |
| Tech Companies | 5 Apr 2022 | $46M | not disclosed | PayU and Prosus |
| d-Matrix Tech Companies | 1 Apr 2022 | $44M | not disclosed | Playground and M12 |
| Tech Companies | 20 Apr 2022 | $40M | not disclosed | QED Investors |
| Tech Companies | 26 Apr 2022 | $35M | not disclosed | GV |
| Tech Companies | 20 Apr 2022 | $34M | not disclosed | Andreessen Horowitz |
| Tech Companies | 19 Apr 2022 | $33M | not disclosed | Accel |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Adept raise in its Series A round?
Adept raised $65M in its Series A round, announced in Apr 2022.
What was Adept's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,917 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 5.2 times the median.
Did Adept raise again after this round?
Yes: a Series B round in Mar 2023 of $350M at $1.00B post-money.