Funding round
Coda Growth
Reported as "Growth Equity"
Coda, which works in digital monetization solutions development in Singapore, raised $690M in a Growth round announced on 18 Apr 2022, led by Insight Partners, at a $2.50B post-money valuation. 3 firms took part. It is Coda's third venture round on record; the one before was a Seed in Jan 2020.
$690M
Amount raised
$2.50B
Post-money valuation
$1.81B pre-money
3
Investors
1 lead
28%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Coda at $2.50B after the new money. The $690M bought investors about 28% of the company. It came 27 months after Coda's Seed. It is 99% of the $694M Coda has raised in the venture rounds on record. No later venture round is on record for Coda.
Investors
Who put money in
Insight Partners led the round with 2 other firms.
Lead investor
- Insight Partners backs 548 venture-backed companies new investor
Also in the round
- Smash Capital new investor
- GIC backs 98 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion.
- Geographic expansion
Comparable rounds
How it compares
41 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 6.9 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 7 Apr 2022 | $82M | not disclosed | Advent International |
| Payment Processing & Point of Sale | 4 Apr 2022 | $35M | not disclosed | PSG |
| Payment Processing & Point of Sale | 8 Mar 2022 | $245M | $1.00B | Blue Star Innovation Partners |
| Payment Processing & Point of Sale | 12 May 2022 | $173M | $1.00B | Andreessen Horowitz and Paradigm |
| Payment Processing & Point of Sale | 13 May 2022 | $100M | not disclosed | Accel and Lightrock |
| Payment Processing & Point of Sale | 23 May 2022 | $70M | $1.00B | Railpen |
| Payment Processing & Point of Sale | 7 Mar 2022 | $30M | $1.50B | Mastercard |
| Payment Processing & Point of Sale | 11 May 2022 | $23M | not disclosed | SVB Financial Group and Piper Sandler |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Coda raise in its Growth round?
Coda raised $690M in its Growth round, announced in Apr 2022.
Who led Coda's Growth round?
Insight Partners led it, with Smash Capital and GIC.
What was Coda's valuation at the Growth round?
$2.50B post-money ($1.81B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
41 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 6.9 times the median.