Funding round
Carta Series E
Carta, which works in private capital ERP platform development in San Francisco, raised $300M in a Series E round announced on 6 May 2019, led by Andreessen Horowitz, at a $1.70B post-money valuation. 8 firms took part. It is Carta's fifth venture round on record; the one before was a Series D in Dec 2018.
$300M
Amount raised
$1.70B
Post-money valuation
$1.40B pre-money
8
Investors
1 lead
2.1x
Step-up from the Series D
$800M in Dec 2018
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Carta at $1.70B after the new money, 2.1 times the $800M of its Series D (Dec 2018). The $300M bought investors about 18% of the company. It came 5 months after Carta's Series D. It is 32% of the $946M Carta has raised in the venture rounds on record. Carta raised again 27 months later: a Series G round of $500M in Aug 2021, at $7.40B 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 28 Dec 2018, led by Meritech Capital and Tribe Capital $80M$800M post-money
- Series E this round 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
Andreessen Horowitz led the round with 7 other firms.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Goldman Sachs backs 218 venture-backed companies new investor
- backs 69 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- Meritech Capital backs 84 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Thrive Capital backs 130 venture-backed companies new investor
Joined the board: Marc Andreessen (Andreessen Horowitz).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
33 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $94M, and this round was 3.2 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 20 May 2019 | $103M | $1.00B | Sapphire Ventures |
| Tech Companies | 14 May 2019 | $90M | not disclosed | One Peak and Goldman Sachs |
| Tech Companies | 7 May 2019 | $75M | not disclosed | Sapphire Ventures and Lightspeed Venture Partners |
| Tech Companies | 20 May 2019 | $29M | not disclosed | Tola Capital |
| Tech Companies | 12 Jun 2019 | $165M | $1.40B | Standard Chartered and MUFG Innovation Partners |
| Tech Companies | 10 Jun 2019 | $100M | not disclosed | Technology Crossover Ventures |
| Icertis Tech Companies | 17 Jul 2019 | $115M | $1.00B | Greycroft and Premji Invest |
| Databricks Tech Companies | 5 Feb 2019 | $250M | $2.75B | Andreessen Horowitz |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Carta raise in its Series E round?
Carta raised $300M in its Series E round, announced in May 2019.
Who led Carta's Series E round?
Andreessen Horowitz led it, with Lightspeed Venture Partners, Goldman Sachs, Tribe Capital, Menlo Ventures and Meritech Capital and 2 more.
What was Carta's valuation at the Series E round?
$1.70B post-money ($1.40B pre-money).
How does it compare with other Series E rounds in Tech Companies?
33 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $94M, and this round was 3.2 times the median.
Did Carta raise again after this round?
Yes: a Series G round in Aug 2021 of $500M at $7.40B post-money.