Funding round
Crusoe Growth
Reported as "Growth Equity"
Crusoe, which works in AI cloud platform development in Denver, raised $30M in a Growth round announced on 6 Dec 2019, led by Bain Capital Ventures and KCK Financial Services. 5 firms took part, 4 of them already investors. It is Crusoe's second venture round on record; the one before was a Seed in Mar 2019.
$30M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Crusoe did not disclose a valuation in this round. It came 9 months after Crusoe's Seed. It is under 1% of the $6.39B Crusoe has raised in the venture rounds on record. Crusoe raised again 13 months later: a Series B round of $128M in Jan 2021. Its next priced round, a Series C in Apr 2022, valued it at $1.75B.
Crusoe's funding rounds
Crusoe has 7 venture rounds on record and 4 other deals. This one is highlighted.
- Seed 1 Mar 2019 $4.5M
- Growth this round 6 Dec 2019, led by Bain Capital Ventures and KCK Financial Services $30M
- Series B 1 Jan 2021, led by Valor $128M
- Debt not a venture round 21 Apr 2022 $155M
- Series C 21 Apr 2022, led by G2 Venture Partners $350M$1.75B post-money
- Series D 12 Dec 2024, led by Founders Fund $600M$2.80B post-money
- Debt not a venture round 27 Mar 2025, led by Upper90 $225M
- Other not a venture round 11 Jun 2025, led by Brookfield $750M
- Debt not a venture round 25 Aug 2025, led by Victory Park Capital $175M$2.80B post-money
- Series E 24 Oct 2025, led by Valor and Mubadala Capital $1.38B$10.00B post-money
- Series F 17 Sep 2026, led by Atreides Management, Mubadala Capital and Valor $3.90B$30.90B post-money
Investors
Who put money in
Bain Capital Ventures and KCK Financial Services led the round with 3 other firms. Bain Capital Ventures, Founders Fund, Winklevoss Capital and Polychain had backed Crusoe before.
Lead investors
- Bain Capital Ventures backs 220 venture-backed companies existing investor
- backs 9 venture-backed companies new investor
Also in the round
- Founders Fund backs 368 venture-backed companies existing investor
- backs 38 venture-backed companies existing investor
- backs 87 venture-backed companies existing investor
Joined the board: Stefan Cohen (Bain Capital Ventures) and KCK Group Representative (The KCK Group).
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $185M, and this round was 16% of the median. The closest in time, other companies' Growth rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| DataBank Hosting & Cloud Infrastructure Providers | 6 Jan 2020 | $185M | not disclosed | Colony Investment Management |
| Hosting & Cloud Infrastructure Providers | 31 Oct 2019 | $39M | not disclosed | not named |
| Cologix Hosting & Cloud Infrastructure Providers | 23 Sep 2019 | $500M | not disclosed | not named |
| TierPoint Hosting & Cloud Infrastructure Providers | 24 Mar 2020 | $320M | not disclosed | Argo Infrastructure Partners and Wafra |
| Wasabi Hosting & Cloud Infrastructure Providers | 28 May 2020 | $30M | $281M | Forestay |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Crusoe raise in its Growth round?
Crusoe raised $30M in its Growth round, announced in Dec 2019.
Who led Crusoe's Growth round?
Bain Capital Ventures and KCK Financial Services led it, with Founders Fund, Winklevoss Capital and Polychain.
What was Crusoe's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Hosting & Cloud Infrastructure Providers?
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $185M, and this round was 16% of the median.
Did Crusoe raise again after this round?
Yes: a Series B round in Jan 2021 of $128M.