Funding round
Decagon Series B
Decagon, which works in conversational AI platform development in San Francisco, raised $65M in a Series B round announced on 15 Oct 2024, led by Bain Capital Ventures, at a $650M post-money valuation. 9 firms took part. It is Decagon's second venture round on record; the one before was a Series A in Jun 2024.
$65M
Amount raised
$650M
Post-money valuation
$585M pre-money
9
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Decagon at $650M after the new money. The $65M bought investors about 10% of the company. It came 4 months after Decagon's Series A. It is 14% of the $476M Decagon has raised in the venture rounds on record. Decagon raised again 8 months later: a Series C round of $131M in Jun 2025, at $1.50B post-money.
Decagon's funding rounds
Decagon has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Bain Capital Ventures led the round with 8 other firms.
Lead investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
Also in the round
- backs 39 venture-backed companies new investor
- Accel backs 581 venture-backed companies new investor
- BOND backs 91 venture-backed companies new investor
- backs 41 venture-backed companies new investor
- Ribbit backs 126 venture-backed companies new investor
- backs 99 venture-backed companies new investor
- Avra new investor
- Elad Gil
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
53 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $35M, and this round was 1.9 times the median. The closest in time, other companies' Series B rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Poolside Software Development Services | 2 Oct 2024 | $500M | $3.00B | Bain Capital Ventures |
| Software Development Services | 15 Oct 2024 | $44M | not disclosed | Smith Point Capital |
| Software Development Services | 15 Oct 2024 | $35M | not disclosed | Accel |
| Software Development Services | 24 Oct 2024 | $26M | not disclosed | not named |
| Software Development Services | 31 Oct 2024 | $19M | not disclosed | Atinum Investment |
| Software Development Services | 28 Oct 2024 | $16M | not disclosed | Intuit Ventures and Mucker Capital |
| Software Development Services | 22 Oct 2024 | $5.0M | not disclosed | RET Ventures |
| Software Development Services | 4 Sep 2024 | $50M | not disclosed | Georgian |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Decagon raise in its Series B round?
Decagon raised $65M in its Series B round, announced in Oct 2024.
Who led Decagon's Series B round?
Bain Capital Ventures led it, with A*, Accel, BOND, ACME Capital and Ribbit and 3 more.
What was Decagon's valuation at the Series B round?
$650M post-money ($585M pre-money).
How does it compare with other Series B rounds in Software Development Services?
53 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $35M, and this round was 1.9 times the median.
Did Decagon raise again after this round?
Yes: a Series C round in Jun 2025 of $131M at $1.50B post-money.