Funding round
Authentic Growth
Reported as "Growth Equity"
Authentic, which works in brand management and development services in New York, raised $500M in a Growth round announced on 29 Jun 2023, at a $20.00B post-money valuation. 1 firm took part, 1 of them already investors. It is Authentic's second venture round on record; the one before was a Growth in Aug 2019.
$500M
Amount raised
$20.00B
Post-money valuation
1
Investors
no lead named
5.0x
Step-up from the Growth
$4.00B in Aug 2019
2.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Authentic at $20.00B after the new money, 5.0 times the $4.00B of its Growth (Aug 2019). The $500M bought investors about 2.5% of the company. It came 46 months after Authentic's Growth. It is 36% of the $1.38B Authentic has raised in the venture rounds on record. No later venture round is on record for Authentic.
Authentic's funding rounds
Authentic has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 11 Aug 2019, led by BlackRock Long Term Private Capital $875M$4.00B post-money
- Private Equity not a venture round 22 Nov 2021, led by CVC and HPS Investment Partners amount not disclosed
- Growth this round 29 Jun 2023 $500M$20.00B post-money
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- General Atlantic backs 134 venture-backed companies existing 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, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Clothing Stores:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Clothing Stores | 17 May 2023 | $2.00B | $66.00B | General Atlantic and HSG |
| Clothing Stores | 10 Mar 2023 | undisclosed | $100M | not named |
| Clothing Stores | 24 Jan 2023 | $152M | not disclosed | not named |
| Clothing Stores | 4 Aug 2022 | $700M | not disclosed | ACON Investments |
| Clothing Stores | 16 May 2024 | $39M | not disclosed | The Chernin Group |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Authentic raise in its Growth round?
Authentic raised $500M in its Growth round, announced in Jun 2023.
Which investors took part in Authentic's Growth round?
General Atlantic.
What was Authentic's valuation at the Growth round?
$20.00B post-money.