Funding round
Anduril Series C
Anduril, which works in defense technology solutions development in Costa Mesa, raised $200M in a Series C round announced on 1 Jul 2020, led by Andreessen Horowitz, at a $1.90B post-money valuation. 8 firms took part. It is Anduril's second venture round on record; the one before was a Seed in Sep 2019.
$200M
Amount raised
$1.90B
Post-money valuation
$1.70B pre-money
8
Investors
1 lead
1.9x
Step-up from the Seed
$1.00B in Sep 2019
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Anduril at $1.90B after the new money, 1.9 times the $1.00B of its Seed (Sep 2019). The $200M bought investors about 11% of the company. It came 10 months after Anduril's Seed. It is 1.8% of the $11.26B Anduril has raised in the venture rounds on record. Anduril raised again 11 months later: a Series D round of $450M in Jun 2021, at $4.60B post-money.
Anduril's funding rounds
Anduril has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 11 Sep 2019 $127M$1.00B post-money
- Series C this round 1 Jul 2020, led by Andreessen Horowitz $200M$1.90B post-money
- Series D 17 Jun 2021, led by Elad Gil $450M$4.60B post-money
- Series E 1 Dec 2022, led by Valor $1.48B$8.48B post-money
- Grant not a venture round 22 May 2024 $14M
- Series F 7 Aug 2024, led by Founders Fund and Sands Capital $1.50B$14.00B post-money
- Series G 15 Apr 2025 $2.50B
- Series H+ 13 May 2026, led by Thrive Capital and Andreessen Horowitz $5.00B$61.00B post-money
Investors
Who put money in
Andreessen Horowitz led the round with 7 other firms.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- Founders Fund backs 368 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- 8VC new investor
- Valor backs 143 venture-backed companies new investor
- Elad Gil
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
7 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $87M, and this round was 2.3 times the median. The closest in time, other companies' Series C rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| ICEYE Aerospace and Defence | 22 Sep 2020 | $87M | not disclosed | True Ventures |
| Aerospace and Defence | 17 Dec 2020 | $8.5M | not disclosed | Future Industry and Swisscom Ventures |
| Shield AI Aerospace and Defence | 23 Feb 2021 | $90M | not disclosed | Point72 Ventures |
| Astranis Aerospace and Defence | 14 Apr 2021 | $250M | $1.40B | BlackRock |
| Relativity Space Aerospace and Defence | 1 Oct 2019 | $140M | not disclosed | BOND and Tribe Capital |
| Aerospace and Defence | 14 May 2021 | $24M | not disclosed | not named |
| Aerospace and Defence | 30 Jun 2021 | $46M | not disclosed | Fine Structure Ventures |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Anduril raise in its Series C round?
Anduril raised $200M in its Series C round, announced in Jul 2020.
Who led Anduril's Series C round?
Andreessen Horowitz led it, with Founders Fund, General Catalyst, Lux Capital, Human Capital and 8VC and 2 more.
What was Anduril's valuation at the Series C round?
$1.90B post-money ($1.70B pre-money).
How does it compare with other Series C rounds in Aerospace and Defence?
7 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $87M, and this round was 2.3 times the median.
Did Anduril raise again after this round?
Yes: a Series D round in Jun 2021 of $450M at $4.60B post-money.