Funding round
Arcadia Series D
Arcadia, which works in utility data platform development in Washington, raised $100M in a Series D round announced on 15 Sep 2021, led by Tiger Global and Drawdown Fund. 10 firms took part. It is Arcadia's fourth venture round on record; the one before was a Series C in Dec 2019.
$100M
Amount raised
Not disclosed
Post-money valuation
10
Investors
2 leads
Valuation
What this round says about the price
Arcadia did not disclose a valuation in this round. It came 21 months after Arcadia's Series C. It is 21% of the $486M Arcadia has raised in the venture rounds on record. Arcadia raised again 8 months later: a Growth round of $200M in May 2022. 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 16 Aug 2018, led by G2 Venture Partners $25M
- Series C 10 Dec 2019, led by G2 Venture Partners $30M
- Series D this round 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
Tiger Global and Drawdown Fund led the round with 8 other firms.
Lead investors
- Tiger Global backs 391 venture-backed companies new investor
- Drawdown Fund new investor
Also in the round
- Wellington Management new investor
- backs 12 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- Energy Impact Partners backs 99 venture-backed companies new investor
- backs 33 venture-backed companies new investor
- Inclusive Capital new investor
- BoxGroup backs 175 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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
241 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was close to the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Fivetran Tech Companies | 20 Sep 2021 | $565M | $5.60B | Andreessen Horowitz |
| Commure Tech Companies | 16 Sep 2021 | $500M | $3.50B | Human Capital and Greenoaks Capital |
| Tech Companies | 30 Sep 2021 | $125M | $1.50B | Technology Crossover Ventures |
| Workato Tech Companies | 8 Sep 2021 | $110M | $1.70B | Altimeter |
| Tech Companies | 29 Sep 2021 | $100M | not disclosed | Great Hill Partners |
| Tech Companies | 19 Sep 2021 | $98M | not disclosed | Hanaco |
| Tech Companies | 2 Sep 2021 | $75M | not disclosed | Energy Impact Partners |
| Tech Companies | 7 Sep 2021 | $30M | $280M | PBJ Capital and Omega Venture Partners |
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 D round?
Arcadia raised $100M in its Series D round, announced in Sep 2021.
Who led Arcadia's Series D round?
Tiger Global and Drawdown Fund led it, with Wellington Management, Qstar Capital, Camber Creek, MCJ Collective and Energy Impact Partners and 3 more.
What was Arcadia's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Tech Companies?
241 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was close to the median.
Did Arcadia raise again after this round?
Yes: a Growth round in May 2022 of $200M.