Funding round
Automattic Series D
Automattic, which works in publishing platform development in San Francisco, raised $300M in a Series D round announced on 19 Sep 2019, led by Salesforce Ventures, at a $3.00B post-money valuation. 1 firm took part. It is Automattic's fourth venture round on record; the one before was a Series C in May 2014.
$300M
Amount raised
$3.00B
Post-money valuation
1
Investors
1 lead
2.6x
Step-up from the Series C
$1.16B in May 2014
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Automattic at $3.00B after the new money, 2.6 times the $1.16B of its Series C (May 2014). The $300M bought investors about 10% of the company. It came 64 months after Automattic's Series C. It is 39% of the $779M Automattic has raised in the venture rounds on record. Automattic raised again 17 months later: a Series E round of $288M in Feb 2021, at $7.50B 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 5 May 2014, led by Insight Partners $160M$1.16B post-money
- Series D this round 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
Salesforce Ventures led the round.
Lead investor
- Salesforce Ventures backs 314 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
111 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 6.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Clio Tech Companies | 4 Sep 2019 | $250M | not disclosed | Technology Crossover Ventures and JMI Equity |
| Rebel Foods Tech Companies | 23 Sep 2019 | $125M | $525M | Sequoia Capital and Sequoia Capital India |
| Tech Companies | 3 Sep 2019 | $51M | not disclosed | Weatherford Capital and 8VC |
| Tech Companies | 8 Sep 2019 | $36M | not disclosed | Valor |
| Tech Companies | 24 Sep 2019 | $19M | not disclosed | not named |
| RigUp Tech Companies | 10 Oct 2019 | $300M | $1.90B | Andreessen Horowitz |
| ShareChat Tech Companies | 15 Aug 2019 | $100M | $650M | |
| Tech Companies | 20 Aug 2019 | $73M | not disclosed | Goldman Sachs and Ping An Global Voyager Fund |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Automattic raise in its Series D round?
Automattic raised $300M in its Series D round, announced in Sep 2019.
Who led Automattic's Series D round?
Salesforce Ventures led it.
What was Automattic's valuation at the Series D round?
$3.00B post-money.
How does it compare with other Series D rounds in Tech Companies?
111 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 6.0 times the median.
Did Automattic raise again after this round?
Yes: a Series E round in Feb 2021 of $288M at $7.50B post-money.