Funding round
Crusoe Series E
Crusoe, which works in AI cloud platform development in Denver, raised $1.38B in a Series E round announced on 24 Oct 2025, led by Valor and Mubadala Capital, at a $10.00B post-money valuation. 32 firms took part. It is Crusoe's sixth venture round on record; the one before was a Series D in Dec 2024.
$1.38B
Amount raised
$10.00B
Post-money valuation
$8.63B pre-money
32
Investors
2 leads
3.6x
Step-up from the Series D
$2.80B in Dec 2024
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Crusoe at $10.00B after the new money, 3.6 times the $2.80B of its Series D (Dec 2024). The $1.38B bought investors about 14% of the company. It came 10 months after Crusoe's Series D. It is 22% of the $6.39B Crusoe has raised in the venture rounds on record. Crusoe raised again 11 months later: a Series F round of $3.90B in Sep 2026, at $30.90B 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 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 this round 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 and Mubadala Capital led the round with 30 other firms.
Lead investors
- Valor backs 143 venture-backed companies new investor
- Mubadala Capital backs 61 venture-backed companies new investor
Also in the round
- 137 Ventures backs 25 venture-backed companies new investor
- 1789 Capital new investor
- backs 29 venture-backed companies new investor
- Altimeter backs 67 venture-backed companies new investor
- Atreides Management backs 53 venture-backed companies new investor
- BAM Elevate new investor
- DPR Construction new investor
- backs 4 venture-backed companies new investor
- Fidelity Management & Research Company new investor
- Founders Fund backs 368 venture-backed companies new investor
- Franklin Templeton new investor
- backs 23 venture-backed companies new investor
- backs 70 venture-backed companies new investor
- Lowercarbon Capital backs 110 venture-backed companies new investor
- M37 Management new investor
- backs 47 venture-backed companies new investor
- NVIDIA new investor
- backs 65 venture-backed companies new investor
- Ribbit backs 126 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- Saquon Barkley new investor
- Spark Capital backs 234 venture-backed companies new investor
- StepStone Group new investor
- Supermicro new investor
- T. Rowe Price new investor
- Tiger Global backs 391 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- backs 33 venture-backed companies new investor
- Blue Owl Capital backs 36 venture-backed companies new investor
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
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Deel Software Development Services | 20 Oct 2025 | $300M | $17.30B | Ribbit and Andreessen Horowitz |
| Pharmaceutical Products | 8 Oct 2025 | $153M | not disclosed | Prime Eight Capital |
| Tech Companies | 7 Oct 2025 | $150M | $2.00B | Bessemer Venture Partners |
| Supabase Tech Companies | 3 Oct 2025 | $100M | $5.00B | Accel and Peak XV |
| Tech Companies | 1 Oct 2025 | $75M | $2.00B | Lince Capital and Iberis Capital |
| Batteries | 9 Oct 2025 | $60M | not disclosed | Morgan Stanley Investment Management’s 1GT and Morgan Stanley |
| Lambda Tech Companies | 18 Nov 2025 | $1.50B | not disclosed | TWG Global |
| PsiQuantum Semiconductors | 1 Sep 2025 | $1.00B | $7.00B | BlackRock and Temasek |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Crusoe raise in its Series E round?
Crusoe raised $1.38B in its Series E round, announced in Oct 2025.
Who led Crusoe's Series E round?
Valor and Mubadala Capital led it, with 137 Ventures, 1789 Capital, Activate Capital, Altimeter and Atreides Management and 25 more.
What was Crusoe's valuation at the Series E round?
$10.00B post-money ($8.63B pre-money).
Did Crusoe raise again after this round?
Yes: a Series F round in Sep 2026 of $3.90B at $30.90B post-money.