Funding round
Armada Growth
Reported as "Growth Equity"
Armada, which works in edge computing solutions development in San Francisco, raised $55M in a Growth round announced on 11 Dec 2023, led by Founders Fund, Lux Capital, Shield Capital and 8090 Industries. 11 firms took part. It is Armada's first venture round on record.
$55M
Amount raised
Not disclosed
Post-money valuation
11
Investors
4 leads
Valuation
What this round says about the price
Armada did not disclose a valuation in this round. It is Armada's first venture round on record, 1 year after it was founded in 2022. It is 12% of the $456M Armada has raised in the venture rounds on record. Armada raised again 7 months later: a Growth round of $40M in Jul 2024. Its next priced round, a Series B in May 2026, valued it at $2.00B.
Armada's funding rounds
Armada has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Founders Fund, Lux Capital, Shield Capital and 8090 Industries led the round with 7 other firms.
Lead investors
- Founders Fund backs 368 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- backs 19 venture-backed companies new investor
Also in the round
- Felicis backs 237 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- Valor backs 143 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- 137 Ventures backs 25 venture-backed companies new investor
- Koch Real Estate Investments new investor
- 8VC new investor
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, working capital and hiring.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
- Hiring
Comparable rounds
How it compares
364 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was close to the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 12 Dec 2023 | $216M | not disclosed | CVC |
| Tech Companies | 7 Dec 2023 | $60M | $550M | ICONIQ Growth |
| Tech Companies | 12 Dec 2023 | $48M | not disclosed | Sixth Street Growth |
| Tech Companies | 19 Dec 2023 | $45M | not disclosed | L2 Point |
| Tech Companies | 19 Dec 2023 | $45M | not disclosed | Bluestone Equity Partners |
| Tech Companies | 30 Dec 2023 | $35M | not disclosed | LDA Capital |
| Cart.com Tech Companies | 21 Dec 2023 | $30M | not disclosed | not named |
| Tech Companies | 20 Dec 2023 | $29M | not disclosed | Pride Capital Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Armada raise in its Growth round?
Armada raised $55M in its Growth round, announced in Dec 2023.
Who led Armada's Growth round?
Founders Fund, Lux Capital, Shield Capital and 8090 Industries led it, with Felicis, Contrary, Valor, Marlinspike and 137 Ventures and 2 more.
What was Armada's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
364 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was close to the median.
Did Armada raise again after this round?
Yes: a Growth round in Jul 2024 of $40M.