Funding round
Bird Series C
Bird, which works in cloud communications platform development in Amsterdam, raised $200M in a Series C round announced on 8 Oct 2020, led by Spark Capital, at a $3.00B post-money valuation. 10 firms took part. It is Bird's second venture round on record; the one before was a Series A in Dec 2017.
$200M
Amount raised
$3.00B
Post-money valuation
$2.80B pre-money
10
Investors
1 lead
6.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Bird at $3.00B after the new money. The $200M bought investors about 6.7% of the company. It came 34 months after Bird's Series A. It is 74% of the $272M Bird has raised in the venture rounds on record. No later venture round is on record for Bird.
Bird's funding rounds
Bird has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 29 Dec 2017, led by Accel $72M
- Series C this round 8 Oct 2020, led by Spark Capital $200M$3.00B post-money
- Debt not a venture round 23 Sep 2026, led by J.P. Morgan $450M
Investors
Who put money in
Spark Capital led the round with 9 other firms.
Lead investor
- Spark Capital backs 234 venture-backed companies new investor
Also in the round
- backs 16 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- LGT Lightstone new investor
- backs 5 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- backs 43 venture-backed companies new investor
- Accel backs 581 venture-backed companies new investor
- Atomico backs 123 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
Joined the board: Will Reed (Spark Capital).
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
406 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 4.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 6 Oct 2020 | $207M | $2.00B | BlackRock |
| Tekion Tech Companies | 21 Oct 2020 | $150M | $1.00B | Advent International |
| Applied Intuition Tech Companies | 22 Oct 2020 | $125M | $1.25B | Lux Capital and Andreessen Horowitz |
| Tech Companies | 27 Oct 2020 | $120M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 12 Oct 2020 | $60M | not disclosed | Y Combinator |
| Tech Companies | 26 Oct 2020 | $30M | not disclosed | OurCrowd and Salesforce Ventures |
| Tiendanube Tech Companies | 13 Oct 2020 | $30M | not disclosed | Kaszek and Qualcomm Ventures |
| Tech Companies | 21 Oct 2020 | $15M | not disclosed | Tencent |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Bird raise in its Series C round?
Bird raised $200M in its Series C round, announced in Oct 2020.
Who led Bird's Series C round?
Spark Capital led it, with Bonnier Capital, Glynn Capital, LGT Lightstone, Longbow Capital and Mousse Partners and 4 more.
What was Bird's valuation at the Series C round?
$3.00B post-money ($2.80B pre-money).
How does it compare with other Series C rounds in Tech Companies?
406 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 4.0 times the median.