Funding round
Back Market Series D
Back Market, which works in refurbished technology retail in New York, raised $335M in a Series D round announced on 1 May 2021, led by General Atlantic, at a $3.20B post-money valuation. 6 firms took part. It is Back Market's second venture round on record; the one before was a Growth in May 2020.
$335M
Amount raised
$3.20B
Post-money valuation
6
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Back Market at $3.20B after the new money. The $335M bought investors about 10% of the company. It came 12 months after Back Market's Growth. It is 35% of the $965M Back Market has raised in the venture rounds on record. Back Market raised again 8 months later: a Series E round of $510M in Jan 2022, at $5.70B post-money.
Investors
Who put money in
General Atlantic led the round with 5 other firms.
Lead investor
- General Atlantic backs 134 venture-backed companies new investor
Also in the round
- Generation Investment Management new investor
- Goldman Sachs Growth Equity new investor
- backs 63 venture-backed companies new investor
- Eurazeo backs 103 venture-backed companies new investor
- backs 57 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Electronics Stores, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electronics Stores | 14 Apr 2021 | $48M | not disclosed | Cadence Growth Capital and Rocket Internet |
| Tech Companies | 6 May 2021 | $220M | $1.00B | Advent International |
| Inari Biotechnology | 12 May 2021 | $208M | $1.20B | Flagship Pioneering and Alexandria Venture Investments |
| DailyPay Financial Services | 18 May 2021 | $175M | not disclosed | Carrick Capital Partners |
| Tech Companies | 26 May 2021 | $160M | not disclosed | Neuberger Berman Funds |
| HoneyBook Tech Companies | 4 May 2021 | $155M | $1.00B | Durable Capital Partners |
| Tech Companies | 25 May 2021 | $150M | $1.50B | Tiger Global |
| Sunbit Loans & Financing | 20 May 2021 | $130M | $1.10B | Group 11 |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Back Market raise in its Series D round?
Back Market raised $335M in its Series D round, announced in May 2021.
Who led Back Market's Series D round?
General Atlantic led it, with Generation Investment Management, Goldman Sachs Growth Equity, Aglaé Ventures, Eurazeo and daphni.
What was Back Market's valuation at the Series D round?
$3.20B post-money.
Did Back Market raise again after this round?
Yes: a Series E round in Jan 2022 of $510M at $5.70B post-money.