Funding round
Bluevine Series C
Bluevine, which works in business banking solutions in Jersey City, raised $40M in a Series C round announced on 20 Jan 2016, led by Menlo Ventures. 6 firms took part. It is Bluevine's third venture round on record; the one before was a Series B in Nov 2014.
$40M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Bluevine did not disclose a valuation in this round. It came 14 months after Bluevine's Series B. It is 14% of the $284M Bluevine has raised in the venture rounds on record. Bluevine raised again 11 months later: a Series D round of $49M in Dec 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 18 Nov 2014, led by 83North and Lightspeed Venture Partners $19M
- Series C this round 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
Menlo Ventures led the round with 5 other firms.
Lead investor
- Menlo Ventures backs 215 venture-backed companies new investor
Also in the round
- Rakuten FinTech Fund new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 54 venture-backed companies new investor
- Silicon Valley Bank new investor
Joined the board: Tyler Sosin (Menlo Ventures) and Oskar Miel (Rakuten FinTech Fund).
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 C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 22 Jan 2016 | $50M | not disclosed | HarbourVest |
| Tech Companies | 26 Jan 2016 | $35M | not disclosed | Battery Ventures |
| Tech Companies | 6 Jan 2016 | $33M | $134M | not named |
| Hosting & Cloud Infrastructure Providers | 21 Jan 2016 | $30M | not disclosed | Institutional Venture Partners |
| Media Companies | 13 Jan 2016 | $27M | not disclosed | not named |
| Valet Services & Parking Lots | 26 Jan 2016 | $24M | not disclosed | Baird Capital |
| Valet Services & Parking Lots | 26 Jan 2016 | $24M | not disclosed | Baird Capital |
| Business Consulting | 1 Jan 2016 | $22M | not disclosed | not named |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Bluevine raise in its Series C round?
Bluevine raised $40M in its Series C round, announced in Jan 2016.
Who led Bluevine's Series C round?
Menlo Ventures led it, with Rakuten FinTech Fund, Lightspeed Venture Partners, 83North, Correlation Ventures and Silicon Valley Bank.
What was Bluevine's valuation at the Series C round?
It was not disclosed.
Did Bluevine raise again after this round?
Yes: a Series D round in Dec 2016 of $49M.