Funding round
Automattic Series B
Automattic, which works in publishing platform development in San Francisco, raised $30M in a Series B round announced on 22 Jan 2008, led by Polaris Partners. 4 firms took part. It is Automattic's second venture round on record; the one before was a Series A in Oct 2005.
$30M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Automattic did not disclose a valuation in this round. It came 27 months after Automattic's Series A. It is 3.8% of the $779M Automattic has raised in the venture rounds on record. Automattic raised again 76 months later: a Series C round of $160M in May 2014, at $1.16B post-money.
Automattic's funding rounds
Automattic has 5 venture rounds on record. This one is highlighted.
- Series A 12 Oct 2005 $1.1M
- Series B this round 22 Jan 2008, led by Polaris Partners $30M
- Series C 5 May 2014, led by Insight Partners $160M$1.16B post-money
- Series D 19 Sep 2019, led by Salesforce Ventures $300M$3.00B post-money
- Series E 1 Feb 2021, led by Alta Park Capital Partners $288M$7.50B post-money
Investors
Who put money in
Polaris Partners led the round with 3 other firms.
Lead investor
- backs 98 venture-backed companies new investor
Also in the round
- New York Times new investor
- backs 158 venture-backed companies new investor
- Radar Partners 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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
27 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $9.0M, and this round was 3.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 Jan 2008 | $16M | not disclosed | Accel |
| Tech Companies | 4 Dec 2007 | $7.0M | not disclosed | Constellation Ventures |
| Tech Companies | 13 Mar 2008 | $15M | not disclosed | Draper Fisher Jurvetson |
| Tech Companies | 1 Apr 2008 | $30M | not disclosed | New Enterprise Associates |
| Tech Companies | 1 Apr 2008 | $22M | not disclosed | not named |
| Tech Companies | 17 Apr 2008 | $5.1M | not disclosed | not named |
| Tech Companies | 30 Apr 2008 | $5.0M | not disclosed | not named |
| Tech Companies | 6 Sep 2007 | $12M | not disclosed | Globespan Capital Partners |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Automattic raise in its Series B round?
Automattic raised $30M in its Series B round, announced in Jan 2008.
Who led Automattic's Series B round?
Polaris Partners led it, with New York Times, True Ventures and Radar Partners.
What was Automattic's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
27 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $9.0M, and this round was 3.3 times the median.
Did Automattic raise again after this round?
Yes: a Series C round in May 2014 of $160M at $1.16B post-money.