Funding round
Carta Series D
Carta, which works in private capital ERP platform development in San Francisco, raised $80M in a Series D round announced on 28 Dec 2018, led by Meritech Capital and Tribe Capital, at a $800M post-money valuation. 2 firms took part. It is Carta's fourth venture round on record; the one before was a Series C in Oct 2017.
$80M
Amount raised
$800M
Post-money valuation
2
Investors
2 leads
10x
Step-up from the Series B
$77M in Aug 2015
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Carta at $800M after the new money, 10.4 times the $77M of its Series B (Aug 2015). The $80M bought investors about 10% of the company. It came 14 months after Carta's Series C. It is 8.5% of the $946M Carta has raised in the venture rounds on record. Carta raised again 5 months later: a Series E round of $300M in May 2019, at $1.70B post-money.
Carta's funding rounds
Carta has 6 venture rounds on record. This one is highlighted.
- Series A 13 Aug 2012 $6.8M
- Series B 17 Aug 2015, led by Spark Capital $17M$77M post-money
- Series C 11 Oct 2017, led by Menlo Ventures and Social Capital $42M
- Series D this round 28 Dec 2018, led by Meritech Capital and Tribe Capital $80M$800M post-money
- Series E 6 May 2019, led by Andreessen Horowitz $300M$1.70B post-money
- Series G 13 Aug 2021, led by Silver Lake $500M$7.40B post-money
Investors
Who put money in
Meritech Capital and Tribe Capital led the round.
Lead investors
- Meritech Capital backs 84 venture-backed companies new investor
- Tribe Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
106 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 1.6 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 5 Dec 2018 | $90M | not disclosed | Vitruvian Partners |
| Tech Companies | 12 Dec 2018 | $50M | not disclosed | Morgan Stanley |
| Tech Companies | 5 Dec 2018 | $34M | not disclosed | Sapphire Ventures |
| Tech Companies | 6 Dec 2018 | undisclosed | not disclosed | Insight Partners |
| Tech Companies | 29 Nov 2018 | $70M | $350M | Goldman Sachs Private Capital Investing group |
| Tech Companies | 29 Jan 2019 | $50M | not disclosed | Future Fund and Glynn Capital |
| Tech Companies | 1 Jan 2019 | $50M | not disclosed | Riverwood Capital |
| Tech Companies | 28 Nov 2018 | $50M | not disclosed | Northstar Group |
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 Carta raise in its Series D round?
Carta raised $80M in its Series D round, announced in Dec 2018.
Who led Carta's Series D round?
Meritech Capital and Tribe Capital led it.
What was Carta's valuation at the Series D round?
$800M post-money.
How does it compare with other Series D rounds in Tech Companies?
106 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 1.6 times the median.
Did Carta raise again after this round?
Yes: a Series E round in May 2019 of $300M at $1.70B post-money.