Funding round
Celsius Series B
Celsius, which works in cryptocurrency mining services and distribution in Wilmington, raised $750M in a Series B round announced on 24 Nov 2021, led by WestCap and La Caisse, at a $3.25B post-money valuation. 2 firms took part. It is Celsius' second venture round on record; the one before was a Series A in Jun 2020.
$750M
Amount raised
$3.25B
Post-money valuation
$2.50B pre-money
2
Investors
2 leads
23%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Celsius at $3.25B after the new money. The $750M bought investors about 23% of the company. It came 17 months after Celsius' Series A. It is 96% of the $780M Celsius has raised in the venture rounds on record. No later venture round is on record for Celsius.
Celsius' funding rounds
Celsius has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 22 Jun 2020, led by Tether $30M
- Other not a venture round 24 Jul 2020 $19M
- Series B this round 24 Nov 2021, led by WestCap and La Caisse $750M$3.25B post-money
Investors
Who put money in
WestCap and La Caisse led the round.
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
28 Series B rounds in Cryptocurrency within a year either side disclosed an amount; the median was $50M, and this round was 15 times the median. The closest in time, other companies' Series B rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 1 Nov 2021 | $50M | $2.10B | Tribe Capital |
| Cryptocurrency | 3 Nov 2021 | $50M | not disclosed | Polychain and Hack VC |
| Cryptocurrency | 16 Dec 2021 | $75M | not disclosed | Accel |
| Cryptocurrency | 6 Oct 2021 | $30M | not disclosed | Jump Capital and Wamda |
| Cryptocurrency | 5 Oct 2021 | undisclosed | not disclosed | not named |
| Cryptocurrency | 20 Sep 2021 | $50M | not disclosed | Digital Currency Group |
| Cryptocurrency | 22 Sep 2021 | $40M | not disclosed | DST Global and A&T Capital |
| Cryptocurrency | 18 Jan 2022 | $17M | not disclosed | True Global Ventures 4 Plus |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Celsius raise in its Series B round?
Celsius raised $750M in its Series B round, announced in Nov 2021.
Who led Celsius' Series B round?
WestCap and La Caisse led it.
What was Celsius' valuation at the Series B round?
$3.25B post-money ($2.50B pre-money).
How does it compare with other Series B rounds in Cryptocurrency?
28 Series B rounds in Cryptocurrency within a year either side disclosed an amount; the median was $50M, and this round was 15 times the median.