Funding round
Dapper Labs Growth
Reported as "Growth Equity"
Dapper Labs, which works in digital asset platform development in Vancouver, raised $250M in a Growth round announced on 22 Sep 2021, led by Coatue, at a $7.60B post-money valuation. 6 firms took part, 3 of them already investors. It is Dapper Labs' second venture round on record; the one before was a Growth in Mar 2021.
$250M
Amount raised
$7.60B
Post-money valuation
$7.35B pre-money
6
Investors
1 lead
2.9x
Step-up from the Growth
$2.60B in Mar 2021
3.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Dapper Labs at $7.60B after the new money, 2.9 times the $2.60B of its Growth (Mar 2021). The $250M bought investors about 3.3% of the company. It came 6 months after Dapper Labs' Growth. It is 45% of the $555M Dapper Labs has raised in the venture rounds on record. No later venture round is on record for Dapper Labs.
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 30 Mar 2021, led by Coatue $305M$2.60B post-money
- Growth this round 22 Sep 2021, led by Coatue $250M$7.60B post-money
Investors
Who put money in
Coatue led the round with 5 other firms. Andreessen Horowitz, GV and Version One Ventures had backed Dapper Labs before.
Lead investor
- Coatue backs 229 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- GV backs 428 venture-backed companies existing investor
- backs 38 venture-backed companies existing investor
- BOND backs 91 venture-backed companies new investor
- GIC backs 98 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, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
421 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 4.4 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 Sep 2021 | $230M | not disclosed | Polychain and Three Arrows Capital |
| Canva Tech Companies | 14 Sep 2021 | $200M | $40.00B | T. Rowe Price |
| Tech Companies | 14 Sep 2021 | $200M | $2.70B | Goldman Sachs Asset Management |
| Tech Companies | 28 Sep 2021 | $130M | not disclosed | Warburg Pincus |
| Saviynt Tech Companies | 20 Sep 2021 | $130M | not disclosed | HPS Investment Partners and PNC Bank |
| Tech Companies | 29 Sep 2021 | $100M | not disclosed | Morningside Group |
| Xpansiv Tech Companies | 23 Sep 2021 | $100M | not disclosed | not named |
| Tech Companies | 27 Sep 2021 | $75M | not disclosed | Summit Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Dapper Labs raise in its Growth round?
Dapper Labs raised $250M in its Growth round, announced in Sep 2021.
Who led Dapper Labs' Growth round?
Coatue led it, with Andreessen Horowitz, GV, Version One Ventures, BOND and GIC.
What was Dapper Labs' valuation at the Growth round?
$7.60B post-money ($7.35B pre-money).
How does it compare with other Growth rounds in Tech Companies?
421 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 4.4 times the median.