Funding round
Crusoe Series D
Crusoe, which works in AI cloud platform development in Denver, raised $600M in a Series D round announced on 12 Dec 2024, led by Founders Fund, at a $2.80B post-money valuation. 8 firms took part. It is Crusoe's fifth venture round on record; the one before was a Series C in Apr 2022.
$600M
Amount raised
$2.80B
Post-money valuation
$2.20B pre-money
8
Investors
1 lead
1.6x
Step-up from the Series C
$1.75B in Apr 2022
21%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Crusoe at $2.80B after the new money, 1.6 times the $1.75B of its Series C (Apr 2022). The $600M bought investors about 21% of the company. It came 32 months after Crusoe's Series C. It is 9.4% of the $6.39B Crusoe has raised in the venture rounds on record. Crusoe raised again 10 months later: a Series E round of $1.38B in Oct 2025, at $10.00B 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 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 this round 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
Founders Fund led the round with 7 other firms.
Lead investor
- Founders Fund backs 368 venture-backed companies new investor
Also in the round
- Fidelity new investor
- backs 70 venture-backed companies new investor
- Mubadala backs 42 venture-backed companies new investor
- NVIDIA new investor
- Ribbit backs 126 venture-backed companies new investor
- Valor backs 143 venture-backed companies new investor
- Felicis backs 237 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: 1 in Hosting & Cloud Infrastructure Providers, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lambda Hosting & Cloud Infrastructure Providers | 18 Aug 2025 | $480M | $4.00B | Andra Capital and SGW |
| Tenstorrent Device Manufacturing | 2 Dec 2024 | $693M | $2.70B | Samsung Securities and AFW Partners |
| Tyme Group Banks & ATMs | 17 Dec 2024 | $250M | $1.50B | Nubank |
| Oura Medical Supply Manufacturers | 19 Dec 2024 | $200M | $5.20B | Fidelity Management & Research Company and Dexcom |
| Ayar Labs Electronical Components Manufacturing | 11 Dec 2024 | $155M | $1.00B | Advent International and Light Street Capital |
| Financial Services | 2 Dec 2024 | $135M | not disclosed | Accel |
| Tech Companies | 12 Dec 2024 | $96M | $511M | Ontario Teachers’ Pension Plan |
| Industrial Machinery & Supplies | 5 Dec 2024 | $91M | not disclosed | Congruent Ventures |
Sources
Where this comes from
Reported by 12 sources.
Questions
Frequently asked
How much did Crusoe raise in its Series D round?
Crusoe raised $600M in its Series D round, announced in Dec 2024.
Who led Crusoe's Series D round?
Founders Fund led it, with Fidelity, Long Journey Ventures, Mubadala, NVIDIA and Ribbit and 2 more.
What was Crusoe's valuation at the Series D round?
$2.80B post-money ($2.20B pre-money).
Did Crusoe raise again after this round?
Yes: a Series E round in Oct 2025 of $1.38B at $10.00B post-money.