Funding round
Bluevine Series B
Bluevine, which works in business banking solutions in Jersey City, raised $19M in a Series B round announced on 18 Nov 2014, led by 83North and Lightspeed Venture Partners. 5 firms took part. It is Bluevine's second venture round on record; the one before was a Seed in Aug 2014.
$19M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Bluevine did not disclose a valuation in this round. It came 3 months after Bluevine's Seed. It is 6.5% of the $284M Bluevine has raised in the venture rounds on record. Bluevine raised again 14 months later: a Series C round of $40M in Jan 2016.
Bluevine's funding rounds
Bluevine has 6 venture rounds on record and 3 other deals. This one is highlighted.
- Seed 13 Aug 2014 $1.5M
- Series B this round 18 Nov 2014, led by 83North and Lightspeed Venture Partners $19M
- Series C 20 Jan 2016, led by Menlo Ventures $40M
- Series D 14 Dec 2016, led by Lightspeed Venture Partners $49M
- Debt not a venture round 28 Feb 2017 $75M
- Debt not a venture round 17 Oct 2017 $130M
- Debt not a venture round 30 Apr 2018 $200M
- Series E 31 Jul 2018 $72M
- Series F 19 Nov 2019, led by ION Asset Management $103M
Investors
Who put money in
83North and Lightspeed Venture Partners led the round with 3 other firms.
Lead investors
- 83North new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
Also in the round
- Silicon Valley Bank new investor
- Correlation Ventures new investor
- First Citizens Bank new investor
Joined the board: Stewart Wilkinson (Harbourmaster 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
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Medical Supply Manufacturers | 13 Nov 2014 | $30M | not disclosed | Birchview Capital |
| Tech Companies | 1 Nov 2014 | $29M | $118M | not named |
| Forter Tech Companies | 11 Nov 2014 | $15M | not disclosed | New Enterprise Associates and Sequoia Capital |
| Tech Companies | 4 Nov 2014 | $12M | not disclosed | Matrix Partners |
| Tech Companies | 18 Nov 2014 | $12M | not disclosed | not named |
| Tech Companies | 26 Nov 2014 | $9.0M | not disclosed | Storm Ventures |
| Tech Companies | 7 Nov 2014 | $8.5M | not disclosed | Dawn Capital |
| Biotechnology | 7 Nov 2014 | $5.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Bluevine raise in its Series B round?
Bluevine raised $19M in its Series B round, announced in Nov 2014.
Who led Bluevine's Series B round?
83North and Lightspeed Venture Partners led it, with Silicon Valley Bank, Correlation Ventures and First Citizens Bank.
What was Bluevine's valuation at the Series B round?
It was not disclosed.
Did Bluevine raise again after this round?
Yes: a Series C round in Jan 2016 of $40M.