Funding round
dbt Labs Series D
dbt Labs, which works in data engineering solutions development in Philadelphia, raised $222M in a Series D round announced on 24 Feb 2022, led by Altimeter, at a $4.20B post-money valuation. 12 firms took part, 4 of them already investors. It is dbt Labs' fourth venture round on record; the one before was a Series C in Jun 2021.
$222M
Amount raised
$4.20B
Post-money valuation
$3.98B pre-money
12
Investors
1 lead
2.8x
Step-up from the Series C
$1.50B in Jun 2021
5.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced dbt Labs at $4.20B after the new money, 2.8 times the $1.50B of its Series C (Jun 2021). The $222M bought investors about 5.3% of the company. It came 8 months after dbt Labs' Series C. It is 54% of the $414M dbt Labs has raised in the venture rounds on record. No later venture round is on record for dbt Labs.
dbt Labs' funding rounds
dbt Labs has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Altimeter led the round with 11 other firms. Altimeter, Amplify Partners, Andreessen Horowitz and Sequoia Capital had backed dbt Labs before.
Lead investor
- Altimeter backs 67 venture-backed companies existing investor
Also in the round
- Amplify Partners existing investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Coatue backs 229 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- ICONIQ Growth new investor
- GV backs 428 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
- Databricks new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- Snowflake new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
224 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.2 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| BlueVoyant Tech Companies | 23 Feb 2022 | $250M | $1.00B | Liberty Strategic Capital |
| Starburst Tech Companies | 9 Feb 2022 | $250M | $3.35B | Alkeon |
| Aurora Solar Tech Companies | 28 Feb 2022 | $200M | $4.00B | Coatue and Energize Capital |
| Tech Companies | 14 Feb 2022 | $200M | not disclosed | not named |
| Tech Companies | 14 Feb 2022 | $200M | $1.70B | Jio Platforms Limited |
| Tech Companies | 9 Feb 2022 | $150M | $1.00B | Warburg Pincus |
| Tech Companies | 4 Feb 2022 | $140M | not disclosed | FS Investors |
| Tech Companies | 10 Feb 2022 | $140M | $1.40B | CapitalG |
Sources
Where this comes from
Reported by 1 source. 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 D round?
dbt Labs raised $222M in its Series D round, announced in Feb 2022.
Who led dbt Labs' Series D round?
Altimeter led it, with Amplify Partners, Andreessen Horowitz, Sequoia Capital, Coatue and Tiger Global and 6 more.
What was dbt Labs' valuation at the Series D round?
$4.20B post-money ($3.98B pre-money).
How does it compare with other Series D rounds in Tech Companies?
224 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.2 times the median.