Funding round
dbt Labs Series C
dbt Labs, which works in data engineering solutions development in Philadelphia, raised $150M in a Series C round announced on 30 Jun 2021, led by Altimeter, Sequoia Capital and Andreessen Horowitz, at a $1.50B post-money valuation. 4 firms took part, 3 of them already investors. It is dbt Labs' third venture round on record; the one before was a Series B in Nov 2020.
$150M
Amount raised
$1.50B
Post-money valuation
4
Investors
3 leads
31x
Step-up from the Series A
$48M in Apr 2020
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced dbt Labs at $1.50B after the new money, 31.3 times the $48M of its Series A (Apr 2020). The $150M bought investors about 10% of the company. It came 7 months after dbt Labs' Series B. It is 36% of the $414M dbt Labs has raised in the venture rounds on record. dbt Labs raised again 8 months later: a Series D round of $222M in Feb 2022, at $4.20B post-money.
dbt Labs' funding rounds
dbt Labs has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Altimeter, Sequoia Capital and Andreessen Horowitz led the round with 1 other firm. Sequoia Capital, Andreessen Horowitz and Amplify Partners had backed dbt Labs before.
Lead investors
- Altimeter backs 67 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
Also in the round
- Amplify Partners existing 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
502 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 2.5 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 29 Jun 2021 | $260M | $1.60B | SoftBank Vision Fund |
| Moveworks Tech Companies | 30 Jun 2021 | $200M | $2.10B | Tiger Global and Alkeon |
| Tech Companies | 1 Jun 2021 | $200M | not disclosed | not named |
| Tech Companies | 1 Jun 2021 | $187M | not disclosed | BlackRock and Canada Pension Plan Investment Board |
| Tech Companies | 15 Jun 2021 | $170M | $1.17B | SoftBank Vision Fund |
| Tech Companies | 17 Jun 2021 | $138M | $800M | Ontario Teachers’ Pension Plan |
| Tech Companies | 6 Jun 2021 | $120M | $1.50B | Third Point Ventures |
| Tech Companies | 17 Jun 2021 | $120M | not disclosed | Tiger Global |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did dbt Labs raise in its Series C round?
dbt Labs raised $150M in its Series C round, announced in Jun 2021.
Who led dbt Labs' Series C round?
Altimeter, Sequoia Capital and Andreessen Horowitz led it, with Amplify Partners.
What was dbt Labs' valuation at the Series C round?
$1.50B post-money.
How does it compare with other Series C rounds in Tech Companies?
502 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 2.5 times the median.
Did dbt Labs raise again after this round?
Yes: a Series D round in Feb 2022 of $222M at $4.20B post-money.