Funding round
Dapper Labs Growth
Reported as "Growth Equity"
Dapper Labs, which works in digital asset platform development in Vancouver, raised $305M in a Growth round announced on 30 Mar 2021, led by Coatue, at a $2.60B post-money valuation. 7 firms took part. It is Dapper Labs' first venture round on record.
$305M
Amount raised
$2.60B
Post-money valuation
$2.29B pre-money
7
Investors
1 lead
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Dapper Labs at $2.60B after the new money. The $305M bought investors about 12% of the company. It is Dapper Labs' first venture round on record, 3 years after it was founded in 2018. It is 55% of the $555M Dapper Labs has raised in the venture rounds on record. Dapper Labs raised again 6 months later: a Growth round of $250M in Sep 2021, at $7.60B post-money.
Dapper Labs' funding rounds
Dapper Labs has 2 venture rounds on record and 3 other deals. This one is highlighted.
- Other not a venture round 1 Nov 2018, led by Venrock $15M
- Other not a venture round 12 Sep 2019, led by Andreessen Horowitz $11M
- Other not a venture round 7 Aug 2020 $12M
- Growth this round 30 Mar 2021, led by Coatue $305M$2.60B post-money
- Growth 22 Sep 2021, led by Coatue $250M$7.60B post-money
Investors
Who put money in
Coatue led the round with 6 other firms.
Lead investor
- Coatue backs 229 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Union Square Ventures backs 171 venture-backed companies new investor
- Venrock backs 93 venture-backed companies new investor
- backs 50 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- Sound Ventures backs 114 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
386 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $54M, and this round was 5.6 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dream Sports Tech Companies | 24 Mar 2021 | $400M | $5.00B | Technology Crossover Ventures and D1 Capital Partners |
| Telegram Tech Companies | 24 Mar 2021 | $150M | not disclosed | not named |
| Cohesity Tech Companies | 30 Mar 2021 | $145M | $3.70B | Steadfast Capital Management |
| Tech Companies | 31 Mar 2021 | $125M | not disclosed | Brighton Park Capital |
| Tech Companies | 4 Mar 2021 | $110M | not disclosed | Summit Partners and Greg Mercer |
| Tech Companies | 16 Mar 2021 | $100M | not disclosed | TA Associates |
| Tech Companies | 24 Mar 2021 | $100M | $1.25B | Sequoia Capital and Index Ventures |
| Tech Companies | 1 Mar 2021 | $58M | $477M | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Dapper Labs raise in its Growth round?
Dapper Labs raised $305M in its Growth round, announced in Mar 2021.
Who led Dapper Labs' Growth round?
Coatue led it, with Andreessen Horowitz, Union Square Ventures, Venrock, The Chernin Group and Version One Ventures and 1 more.
What was Dapper Labs' valuation at the Growth round?
$2.60B post-money ($2.29B pre-money).
How does it compare with other Growth rounds in Tech Companies?
386 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $54M, and this round was 5.6 times the median.
Did Dapper Labs raise again after this round?
Yes: a Growth round in Sep 2021 of $250M at $7.60B post-money.