Funding round
Clearco Series B
Clearco, which works in business funding solutions delivery in Toronto, raised $300M in a Series B round announced on 9 Aug 2019, led by Highland Capital. 5 firms took part. It is Clearco's third venture round on record; the one before was a Growth in Dec 2018.
$300M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Clearco did not disclose a valuation in this round. It came 8 months after Clearco's Growth. It is 38% of the $795M Clearco has raised in the venture rounds on record. Clearco raised again 20 months later: a Series C round of $100M in Apr 2021, at $2.00B post-money.
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 18 Dec 2018, led by Upper90 $50M
- Series B this round 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
Highland Capital led the round with 4 other firms.
Lead investor
- backs 8 venture-backed companies new investor
Also in the round
- Inovia backs 120 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- backs 23 venture-backed companies new investor
Joined the board: Dan Nova (Highland Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
26 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 15 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 15 Aug 2019 | $21M | not disclosed | Canvas Prime |
| Loans & Financing | 14 Aug 2019 | $11M | not disclosed | not named |
| Loans & Financing | 19 Aug 2019 | $8.4M | not disclosed | not named |
| Loans & Financing | 24 Jul 2019 | $25M | not disclosed | Accel |
| Loans & Financing | 4 Jun 2019 | $52M | not disclosed | WestBridge Capital |
| Sunbit Loans & Financing | 13 Jun 2019 | $26M | not disclosed | Zeev Ventures |
| Loans & Financing | 21 Oct 2019 | $13M | not disclosed | not named |
| Loans & Financing | 25 Jun 2019 | $12M | not disclosed | EV Growth and Quona Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Clearco raise in its Series B round?
Clearco raised $300M in its Series B round, announced in Aug 2019.
Who led Clearco's Series B round?
Highland Capital led it, with Inovia, Emergence Capital, Arcadia Funds and Upper90.
What was Clearco's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
26 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 15 times the median.
Did Clearco raise again after this round?
Yes: a Series C round in Apr 2021 of $100M at $2.00B post-money.