Funding round
Automattic Series C
Automattic, which works in publishing platform development in San Francisco, raised $160M in a Series C round announced on 5 May 2014, led by Insight Partners, at a $1.16B post-money valuation. 6 firms took part, with 4 individual investors. It is Automattic's third venture round on record; the one before was a Series B in Jan 2008.
$160M
Amount raised
$1.16B
Post-money valuation
$1.00B pre-money
6
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Automattic at $1.16B after the new money. The $160M bought investors about 14% of the company. It came 76 months after Automattic's Series B. It is 21% of the $779M Automattic has raised in the venture rounds on record. Automattic raised again 64 months later: a Series D round of $300M in Sep 2019, at $3.00B 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 22 Jan 2008, led by Polaris Partners $30M
- Series C this round 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
Insight Partners led the round with 5 other firms.
Lead investor
- Insight Partners backs 548 venture-backed companies new investor
Also in the round
- backs 158 venture-backed companies new investor
- Endurance new investor
- Tiger Global backs 391 venture-backed companies new investor
- Iconiq new investor
- Lowercarbon Capital backs 110 venture-backed companies
Individual investors: Kara Swisher, Liz Gannes, Liz Gannes and Kara Swisher.
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
86 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 8.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Addepar Tech Companies | 13 May 2014 | $50M | $272M | Valor and Craft Ventures |
| Netskope Tech Companies | 15 May 2014 | $35M | $200M | Accel |
| Thumbtack Tech Companies | 22 May 2014 | $30M | not disclosed | Sequoia Capital |
| Tech Companies | 1 May 2014 | $20M | not disclosed | Sapphire Ventures |
| Tech Companies | 1 May 2014 | $8.6M | not disclosed | not named |
| Tech Companies | 1 Jun 2014 | $100M | $500M | Sequoia Capital |
| MediaMath Tech Companies | 3 Jun 2014 | $74M | not disclosed | Spring Lake Equity Partners |
| Tech Companies | 21 Apr 2014 | $70M | not disclosed | Foundation Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Automattic raise in its Series C round?
Automattic raised $160M in its Series C round, announced in May 2014.
Who led Automattic's Series C round?
Insight Partners led it, with True Ventures, Endurance, Tiger Global, Iconiq and Lowercarbon Capital.
What was Automattic's valuation at the Series C round?
$1.16B post-money ($1.00B pre-money).
How does it compare with other Series C rounds in Tech Companies?
86 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 8.0 times the median.
Did Automattic raise again after this round?
Yes: a Series D round in Sep 2019 of $300M at $3.00B post-money.