Funding round
Buyers Edge Platform Growth
Reported as "Growth Equity"
Buyers Edge Platform, which works in digital procurement network services in Waltham, raised $425M in a Growth round announced on 8 Apr 2024, led by General Atlantic. 3 firms took part.
$425M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Buyers Edge Platform did not disclose a valuation in this round. It is Buyers Edge Platform's first venture round on record, 6 years after it was founded in 2018. No later venture round is on record for Buyers Edge Platform.
Buyers Edge Platform's funding rounds
This is the only venture round on record for Buyers Edge Platform.
- Growth this round 8 Apr 2024, led by General Atlantic $425M
- Debt not a venture round 16 May 2024, led by J.P. Morgan, General Atlantic and Bank of America $560M
Investors
Who put money in
General Atlantic led the round with 2 other firms.
Lead investor
- General Atlantic backs 134 venture-backed companies new investor
Also in the round
- Blackstone backs 83 venture-backed companies new investor
- Morgan Stanley backs 120 venture-backed companies new investor
Joined the board: Matthew Bonanno (GA Credit).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
364 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 9.0 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lambda Tech Companies | 4 Apr 2024 | $500M | not disclosed | Macquarie |
| Perplexity Tech Companies | 23 Apr 2024 | $250M | $2.50B | not named |
| Cognition Tech Companies | 1 Apr 2024 | $175M | $2.00B | Founders Fund |
| Ramp Tech Companies | 17 Apr 2024 | $150M | $13.00B | Khosla Ventures and Founders Fund |
| Tech Companies | 9 Apr 2024 | $125M | not disclosed | 8VC and NewRoad Capital Partners |
| Tech Companies | 4 Apr 2024 | $109M | not disclosed | Sumeru Equity Partners |
| Tech Companies | 22 Apr 2024 | $100M | not disclosed | Deerfield and Endeavor Health |
| Factorial Tech Companies | 11 Apr 2024 | $80M | not disclosed | General Catalyst |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Buyers Edge Platform raise in its Growth round?
Buyers Edge Platform raised $425M in its Growth round, announced in Apr 2024.
Who led Buyers Edge Platform's Growth round?
General Atlantic led it, with Blackstone and Morgan Stanley.
What was Buyers Edge Platform's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
364 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 9.0 times the median.