Funding round
dbt Labs Series B
dbt Labs, which works in data engineering solutions development in Philadelphia, raised $30M in a Series B round announced on 11 Nov 2020, led by Sequoia Capital. 3 firms took part, 2 of them already investors. It is dbt Labs' second venture round on record; the one before was a Series A in Apr 2020.
$30M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
dbt Labs did not disclose a valuation in this round; its last disclosed one was $48M at the Series A (Apr 2020). It came 7 months after dbt Labs' Series A. It is 7.1% of the $414M dbt Labs has raised in the venture rounds on record. dbt Labs raised again 7 months later: a Series C round of $150M in Jun 2021, at $1.50B post-money.
dbt Labs' funding rounds
dbt Labs has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Sequoia Capital led the round with 2 other firms. Andreessen Horowitz and Amplify Partners had backed dbt Labs before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Amplify Partners existing investor
Joined the board: Matt Miller (Sequoia Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
771 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RingCentral Tech Companies | 10 Nov 2020 | $125M | $2.13B | Institutional Venture Partners and Tiger Global |
| Tech Companies | 19 Nov 2020 | $55M | not disclosed | Cathay Innovation |
| Abnormal AI Tech Companies | 18 Nov 2020 | $50M | $500M | Menlo Ventures |
| Tech Companies | 17 Nov 2020 | $50M | not disclosed | Sapphire Ventures |
| Aurora Solar Tech Companies | 30 Nov 2020 | $50M | not disclosed | ICONIQ Capital |
| Tech Companies | 24 Nov 2020 | $45M | not disclosed | Koch Disruptive Technologies |
| Tech Companies | 16 Nov 2020 | $43M | not disclosed | Hillhouse |
| Tech Companies | 18 Nov 2020 | $35M | not disclosed | Insight Partners |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did dbt Labs raise in its Series B round?
dbt Labs raised $30M in its Series B round, announced in Nov 2020.
Who led dbt Labs' Series B round?
Sequoia Capital led it, with Andreessen Horowitz and Amplify Partners.
What was dbt Labs' valuation at the Series B round?
It was not disclosed; its last disclosed one was $48M at the Series A (Apr 2020).
How does it compare with other Series B rounds in Tech Companies?
771 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was close to the median.
Did dbt Labs raise again after this round?
Yes: a Series C round in Jun 2021 of $150M at $1.50B post-money.