Funding round
Branch Series B
Branch, which works in workforce payment solutions in San Francisco, raised $48M in a Series B round announced on 17 Aug 2021, led by Addition. 6 firms took part. It is Branch's second venture round on record; the one before was a Series A in Aug 2017.
$48M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Branch did not disclose a valuation in this round. It came 48 months after Branch's Series A. It is 36% of the $133M Branch has raised in the venture rounds on record. Branch raised again 7 months later: a Series C round of $75M in Mar 2022.
Investors
Who put money in
Addition led the round with 5 other firms.
Lead investor
- Addition new investor
Also in the round
- backs 35 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 67 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- HR Tech Investments LLC new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
74 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $40M, and this round was 1.2 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 25 Aug 2021 | $116M | not disclosed | Greenoaks |
| Payment Processing & Point of Sale | 18 Aug 2021 | $31M | not disclosed | GSR Ventures |
| Payment Processing & Point of Sale | 18 Aug 2021 | $31M | not disclosed | GSR Ventures |
| Aspire Payment Processing & Point of Sale | 26 Sep 2021 | $158M | not disclosed | DST Global |
| Addi Payment Processing & Point of Sale | 8 Sep 2021 | $75M | not disclosed | Greycroft |
| Payment Processing & Point of Sale | 14 Jul 2021 | $70M | not disclosed | Anthos Capital |
| Payment Processing & Point of Sale | 21 Jul 2021 | $60M | not disclosed | Warburg Pincus |
| Payment Processing & Point of Sale | 21 Jul 2021 | $51M | not disclosed | Sapphire Ventures |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Branch raise in its Series B round?
Branch raised $48M in its Series B round, announced in Aug 2021.
Who led Branch's Series B round?
Addition led it, with Drive Capital, Crosscut, Bonfire Ventures, Matchstick Ventures and HR Tech Investments LLC.
What was Branch's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
74 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $40M, and this round was 1.2 times the median.
Did Branch raise again after this round?
Yes: a Series C round in Mar 2022 of $75M.