Funding round
Arcadia Series B
Arcadia, which works in utility data platform development in Washington, raised $25M in a Series B round announced on 16 Aug 2018, led by G2 Venture Partners. 7 firms took part. It is Arcadia's second venture round on record; the one before was a Series A in Jun 2017.
$25M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Arcadia did not disclose a valuation in this round. It came 14 months after Arcadia's Series A. It is 5.1% of the $486M Arcadia has raised in the venture rounds on record. Arcadia raised again 16 months later: a Series C round of $30M in Dec 2019. Its next priced round, a Growth in Dec 2022, valued it at $1.50B.
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 this round 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 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
G2 Venture Partners led the round with 6 other firms.
Lead investor
- backs 33 venture-backed companies new investor
Also in the round
- backs 3 venture-backed companies new investor
- McKnight Foundation new investor
- Energy Impact Partners backs 99 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- BoxGroup backs 175 venture-backed companies new investor
Joined the board: Alex Laskey (Opower), Dan Leff, Ben Kortlang (G2VP) and Eva Zlotnicka (ValueAct Spring Fund).
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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
462 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 22 Aug 2018 | $70M | not disclosed | Brookfield |
| Tech Companies | 28 Aug 2018 | $35M | not disclosed | Highland Europe |
| Tech Companies | 14 Aug 2018 | $27M | not disclosed | Benchmark and Index Ventures |
| Tech Companies | 7 Aug 2018 | $25M | not disclosed | Accel |
| Tech Companies | 31 Aug 2018 | $21M | not disclosed | Point72 Ventures |
| Tech Companies | 27 Aug 2018 | $20M | not disclosed | NEC Corporation and Tano Capital |
| Tech Companies | 22 Aug 2018 | $16M | not disclosed | Spark Capital |
| Tech Companies | 30 Aug 2018 | $15M | not disclosed | Iron Pillar |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Arcadia raise in its Series B round?
Arcadia raised $25M in its Series B round, announced in Aug 2018.
Who led Arcadia's Series B round?
G2 Venture Partners led it, with ValueAct Capital, McKnight Foundation, Energy Impact Partners, Cendana Capital and Wonder Ventures and 1 more.
What was Arcadia's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
462 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.3 times the median.
Did Arcadia raise again after this round?
Yes: a Series C round in Dec 2019 of $30M.