Funding round
C4 Growth
Reported as "Growth Equity"
C4, which works in IT infrastructure management services in Rio de Janeiro, raised $90M in a Growth round announced on 17 Dec 2019, led by Summit Partners. 5 firms took part, 4 of them already investors. It is C4's first venture round on record.
$90M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
C4 did not disclose a valuation in this round. It is C4's first venture round on record, 34 years after it was founded in 1985. It is 11% of the $835M C4 has raised in the venture rounds on record. C4 raised again 19 months later: a Growth round of $215M in Jul 2021, at $2.30B post-money.
Investors
Who put money in
Summit Partners led the round with 4 other firms. SRIW, Noshaq, Sofinnova Partners and XAnge had backed C4 before.
Lead investor
- backs 96 venture-backed companies new investor
Also in the round
- SRIW existing investor
- backs 27 venture-backed companies existing investor
- backs 102 venture-backed companies existing investor
- backs 61 venture-backed companies existing investor
Joined the board: Antony Clavel (Summit Partners).
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
231 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 2.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 Dec 2019 | $75M | not disclosed | Goldman Sachs |
| Tech Companies | 19 Dec 2019 | $75M | not disclosed | Lime Rock New Energy |
| Tech Companies | 16 Dec 2019 | $46M | not disclosed | Whiz Partners |
| Tech Companies | 19 Dec 2019 | $44M | not disclosed | not named |
| Tech Companies | 4 Dec 2019 | $30M | not disclosed | LLR Partners |
| Tech Companies | 31 Dec 2019 | $30M | not disclosed | The Cigna Group Ventures |
| Tech Companies | 20 Dec 2019 | $28M | not disclosed | not named |
| Tech Companies | 4 Dec 2019 | $20M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did C4 raise in its Growth round?
C4 raised $90M in its Growth round, announced in Dec 2019.
Who led C4's Growth round?
Summit Partners led it, with SRIW, Noshaq, Sofinnova Partners and XAnge.
What was C4's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
231 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 2.3 times the median.
Did C4 raise again after this round?
Yes: a Growth round in Jul 2021 of $215M at $2.30B post-money.