Funding round
Aurora Solar Series B
Aurora Solar, which works in solar design software development in San Francisco, raised $50M in a Series B round announced on 30 Nov 2020, led by ICONIQ Capital. 4 firms took part, 4 of them already investors. It is Aurora Solar's second venture round on record; the one before was a Series A in Feb 2019.
$50M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Aurora Solar did not disclose a valuation in this round. It came 21 months after Aurora Solar's Series A. It is 9.6% of the $520M Aurora Solar has raised in the venture rounds on record. Aurora Solar raised again 6 months later: a Series C round of $250M in May 2021. Its next priced round, a Series D in Feb 2022, valued it at $4.00B.
Aurora Solar's funding rounds
Aurora Solar has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
ICONIQ Capital led the round with 3 other firms. ICONIQ Capital, Energize Capital, Fifth Wall and Pear VC had backed Aurora Solar before.
Lead investor
- ICONIQ Capital existing investor
Also in the round
- backs 34 venture-backed companies existing investor
- Fifth Wall backs 103 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
Joined the board: Doug Pepper (ICONIQ Capital).
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
771 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.7 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RingCentral Tech Companies | 10 Nov 2020 | $125M | $2.13B | Institutional Venture Partners and Tiger Global |
| Tech Companies | 19 Nov 2020 | $55M | not disclosed | Cathay Innovation |
| Abnormal AI Tech Companies | 18 Nov 2020 | $50M | $500M | Menlo Ventures |
| Tech Companies | 17 Nov 2020 | $50M | not disclosed | Sapphire Ventures |
| Tech Companies | 24 Nov 2020 | $45M | not disclosed | Koch Disruptive Technologies |
| Tech Companies | 16 Nov 2020 | $43M | not disclosed | Hillhouse |
| Tech Companies | 18 Nov 2020 | $35M | not disclosed | Insight Partners |
| Tech Companies | 10 Nov 2020 | $34M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Aurora Solar raise in its Series B round?
Aurora Solar raised $50M in its Series B round, announced in Nov 2020.
Who led Aurora Solar's Series B round?
ICONIQ Capital led it, with Energize Capital, Fifth Wall and Pear VC.
What was Aurora Solar's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
771 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.7 times the median.
Did Aurora Solar raise again after this round?
Yes: a Series C round in May 2021 of $250M.