Funding round
Arcadia Growth
Reported as "Growth Equity"
Arcadia, which works in utility data platform development in Washington, raised $125M in a Growth round announced on 16 Dec 2022, led by Magnetar Capital, at a $1.50B post-money valuation. 3 firms took part, 1 of them already investors. It is Arcadia's sixth venture round on record; the one before was a Growth in May 2022.
$125M
Amount raised
$1.50B
Post-money valuation
$1.38B pre-money
3
Investors
1 lead
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Arcadia at $1.50B after the new money. The $125M bought investors about 8.3% of the company. It came 7 months after Arcadia's Growth. It is 26% of the $486M Arcadia has raised in the venture rounds on record. No later venture round is on record for Arcadia.
Arcadia's funding rounds
Arcadia has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 2 Jun 2017, led by Energy Impact Partners $6.0M
- Series B 16 Aug 2018, led by G2 Venture Partners $25M
- Series C 10 Dec 2019, led by G2 Venture Partners $30M
- Series D 15 Sep 2021, led by Tiger Global and Drawdown Fund $100M
- Growth 10 May 2022, led by J.P. Morgan Asset Management’s Sustainable Growth Equity Team $200M
- Growth this round 16 Dec 2022, led by Magnetar Capital $125M$1.50B post-money
- Debt not a venture round 1 Apr 2024 $30M
Investors
Who put money in
Magnetar Capital led the round with 2 other firms. Keyframe had backed Arcadia before.
Lead investor
- backs 17 venture-backed companies new investor
Also in the round
- backs 11 venture-backed companies existing investor
- new investor
Joined the board: Eric Scheyer (Magnetar Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
366 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.5 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 5 Dec 2022 | $150M | not disclosed | not named |
| Tech Companies | 31 Dec 2022 | $106M | not disclosed | not named |
| Tech Companies | 22 Dec 2022 | $100M | not disclosed | Global Emerging Markets |
| Tech Companies | 7 Dec 2022 | $75M | not disclosed | Foxconn |
| Tech Companies | 12 Dec 2022 | $62M | not disclosed | Long Ridge |
| Tech Companies | 14 Dec 2022 | $55M | not disclosed | Riverwood Capital |
| Tech Companies | 19 Dec 2022 | $50M | not disclosed | Morgan Stanley |
| Tech Companies | 15 Dec 2022 | $40M | not disclosed | Brighton Park Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Arcadia raise in its Growth round?
Arcadia raised $125M in its Growth round, announced in Dec 2022.
Who led Arcadia's Growth round?
Magnetar Capital led it, with Keyframe and Green Investment Group.
What was Arcadia's valuation at the Growth round?
$1.50B post-money ($1.38B pre-money).
How does it compare with other Growth rounds in Tech Companies?
366 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.5 times the median.