Funding round
Cyscale Seed
Cyscale, which works in cloud security platform development in London, raised $3.2M in a Seed round announced on 19 May 2022, led by Notion Capital. 4 firms took part. It is Cyscale's second venture round on record; the one before was a Pre-seed in Sep 2020.
$3.2M
Amount raised
3,000,000 EUR converted
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Cyscale did not disclose a valuation in this round; its last disclosed one was $2.6M at the Pre-seed (Sep 2020). It came 20 months after Cyscale's Pre-seed. It is 89% of the $3.6M Cyscale has raised in the venture rounds on record. No later venture round is on record for Cyscale.
Cyscale's funding rounds
Cyscale has 2 venture rounds on record. This one is highlighted.
- Pre-seed 14 Sep 2020, led by SeedBlink $410K$2.6M post-money
- Seed this round 19 May 2022, led by Notion Capital $3.2M
Investors
Who put money in
Notion Capital led the round with 3 other firms.
Lead investor
- backs 64 venture-backed companies new investor
Also in the round
- GapMinder backs 21 venture-backed companies new investor
- backs 112 venture-backed companies new investor
- backs 12 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
2,583 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.3M, and this round was close to the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 10 May 2022 | $11M | not disclosed | Haun Ventures |
| Tech Companies | 4 May 2022 | $11M | not disclosed | Top Harvest Capital |
| Tech Companies | 16 May 2022 | $11M | not disclosed | Animoca Brands and Gaw Capital Partners |
| Tech Companies | 1 May 2022 | $10M | not disclosed | White Star Capital and Stake Capital Group |
| Tech Companies | 12 May 2022 | $10M | not disclosed | not named |
| Tech Companies | 25 May 2022 | $9.5M | not disclosed | igniteXL Ventures |
| Tech Companies | 12 May 2022 | $9.4M | not disclosed | Insight Partners |
| Tech Companies | 18 May 2022 | $9.0M | not disclosed | Andreessen Horowitz |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Cyscale raise in its Seed round?
Cyscale raised $3.2M in its Seed round, announced in May 2022.
Who led Cyscale's Seed round?
Notion Capital led it, with GapMinder, Seedcamp and NP-Hard Ventures.
What was Cyscale's valuation at the Seed round?
It was not disclosed; its last disclosed one was $2.6M at the Pre-seed (Sep 2020).
How does it compare with other Seed rounds in Tech Companies?
2,583 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.3M, and this round was close to the median.