Funding round
Crusoe Series B
Crusoe, which works in AI cloud platform development in Denver, raised $128M in a Series B round announced on 1 Jan 2021, led by Valor. 1 firm took part. It is Crusoe's third venture round on record; the one before was a Growth in Dec 2019.
$128M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Crusoe did not disclose a valuation in this round. It came 13 months after Crusoe's Growth. It is 2.0% of the $6.39B Crusoe has raised in the venture rounds on record. Crusoe raised again 15 months later: a Series C round of $350M in Apr 2022, at $1.75B post-money.
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 6 Dec 2019, led by Bain Capital Ventures and KCK Financial Services $30M
- Series B this round 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
Valor led the round.
Lead investor
- Valor backs 143 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations, product development and geographic expansion.
- Scaling operations
- Product development
- Geographic expansion
Comparable rounds
How it compares
8 Series B rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $40M, and this round was 3.2 times the median. The closest in time, other companies' Series B rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 21 Oct 2020 | $40M | not disclosed | New Enterprise Associates |
| Hosting & Cloud Infrastructure Providers | 30 Jun 2021 | $50M | not disclosed | Senator Investment Group and Liberty City Ventures |
| Hosting & Cloud Infrastructure Providers | 23 Jun 2021 | $30M | not disclosed | Insight Partners |
| Hosting & Cloud Infrastructure Providers | 21 Sep 2021 | $155M | $1.25B | SoftBank Vision Fund |
| Hosting & Cloud Infrastructure Providers | 1 Mar 2020 | $216M | not disclosed | Cox Communications and Juniper Networks |
| Hosting & Cloud Infrastructure Providers | 31 Mar 2020 | $6.6M | not disclosed | Ventech |
| Hosting & Cloud Infrastructure Providers | 5 Feb 2020 | $40M | not disclosed | Institutional Venture Partners |
| Hosting & Cloud Infrastructure Providers | 15 Dec 2021 | $10M | not disclosed | Ibex Investors |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Crusoe raise in its Series B round?
Crusoe raised $128M in its Series B round, announced in Jan 2021.
Who led Crusoe's Series B round?
Valor led it.
What was Crusoe's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Hosting & Cloud Infrastructure Providers?
8 Series B rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $40M, and this round was 3.2 times the median.
Did Crusoe raise again after this round?
Yes: a Series C round in Apr 2022 of $350M at $1.75B post-money.