Funding round
Automattic Series E
Automattic, which works in publishing platform development in San Francisco, raised $288M in a Series E round announced on 1 Feb 2021, led by Alta Park Capital Partners, at a $7.50B post-money valuation. 7 firms took part. It is Automattic's fifth venture round on record; the one before was a Series D in Sep 2019.
$288M
Amount raised
$7.50B
Post-money valuation
$7.21B pre-money
7
Investors
1 lead
2.5x
Step-up from the Series D
$3.00B in Sep 2019
3.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Automattic at $7.50B after the new money, 2.5 times the $3.00B of its Series D (Sep 2019). The $288M bought investors about 3.8% of the company. It came 17 months after Automattic's Series D. It is 37% of the $779M Automattic has raised in the venture rounds on record. No later venture round is on record for Automattic.
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 19 Sep 2019, led by Salesforce Ventures $300M$3.00B post-money
- Series E this round 1 Feb 2021, led by Alta Park Capital Partners $288M$7.50B post-money
Investors
Who put money in
Alta Park Capital Partners led the round with 6 other firms.
Lead investor
- Alta Park Capital Partners new investor
Also in the round
- BlackRock new investor
- Wellington Management new investor
- Schonfeld Capital Management new investor
- ICONIQ Capital new investor
- backs 63 venture-backed companies new investor
- 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
116 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 2.1 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Plume Tech Companies | 23 Feb 2021 | $270M | $1.35B | Insight Partners |
| Highspot Tech Companies | 22 Feb 2021 | $200M | $2.30B | Tiger Global Management |
| Tech Companies | 4 Feb 2021 | $130M | $500M | Georgian |
| Tech Companies | 23 Feb 2021 | $105M | not disclosed | Silver Lake Waterman |
| Tech Companies | 4 Feb 2021 | $50M | not disclosed | Energize Capital and Airtree |
| Tech Companies | 26 Feb 2021 | $11M | not disclosed | Singha Ventures and Square Peg |
| Attentive Tech Companies | 9 Mar 2021 | $470M | $7.00B | not named |
| Tech Companies | 16 Mar 2021 | $300M | $1.00B | SoftBank Vision Fund and Tencent Investment |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Automattic raise in its Series E round?
Automattic raised $288M in its Series E round, announced in Feb 2021.
Who led Automattic's Series E round?
Alta Park Capital Partners led it, with BlackRock, Wellington Management, Schonfeld Capital Management, ICONIQ Capital and Aglaé Ventures and 1 more.
What was Automattic's valuation at the Series E round?
$7.50B post-money ($7.21B pre-money).
How does it compare with other Series E rounds in Tech Companies?
116 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 2.1 times the median.