Funding round
Clearco Growth
Reported as "Growth Equity"
Clearco, which works in business funding solutions delivery in Toronto, raised $50M in a Growth round announced on 18 Dec 2018, led by Upper90. 1 firm took part. It is Clearco's second venture round on record; the one before was a Series A in Jan 2018.
$50M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Clearco did not disclose a valuation in this round. It came 11 months after Clearco's Series A. It is 6.3% of the $795M Clearco has raised in the venture rounds on record. Clearco raised again 8 months later: a Series B round of $300M in Aug 2019. Its next priced round, a Series C in Apr 2021, valued it at $2.00B.
Clearco's funding rounds
Clearco has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 1 Jan 2018 $70M
- Growth this round 18 Dec 2018, led by Upper90 $50M
- Series B 9 Aug 2019, led by Highland Capital $300M
- Debt not a venture round 1 Oct 2019 $250M
- Series C 20 Apr 2021, led by Oak HC/FT $100M$2.00B post-money
- Growth 8 Jul 2021, led by SoftBank Vision Fund $215M
- Series D 4 Oct 2023, led by Inovia and Founders Circle Capital $60M
- Debt not a venture round 18 Aug 2026, led by Macquarie $100M
Investors
Who put money in
Upper90 led the round.
Lead investor
- backs 23 venture-backed companies new investor
Joined the board: Rajen Ruparell (Citydeal) and Keri Findley (Third Point).
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $50M, and this round was close to the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 27 Nov 2018 | $105M | not disclosed | JG Summit Holdings, Inc. and SMDV |
| Loans & Financing | 1 Oct 2018 | $121M | $987M | not named |
| Loans & Financing | 15 Feb 2019 | $772K | not disclosed | Zephyr Management |
| C2FO Loans & Financing | 7 Aug 2019 | $200M | not disclosed | SoftBank Vision Fund |
| Loans & Financing | 12 Aug 2019 | $30M | not disclosed | Bertelsmann India Investments |
| Loans & Financing | 18 Sep 2019 | $50M | not disclosed | not named |
| Loans & Financing | 9 Sep 2019 | $34M | not disclosed | not named |
| Loans & Financing | 15 Mar 2018 | undisclosed | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Clearco raise in its Growth round?
Clearco raised $50M in its Growth round, announced in Dec 2018.
Who led Clearco's Growth round?
Upper90 led it.
What was Clearco's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
9 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $50M, and this round was close to the median.
Did Clearco raise again after this round?
Yes: a Series B round in Aug 2019 of $300M.