Funding round
Faire Series D
Faire, which works in wholesale marketplace platform development in San Francisco, raised $150M in a Series D round announced on 30 Oct 2019, led by Lightspeed Venture Partners and Founders Fund, at a $1.00B post-money valuation. 5 firms took part. It is Faire's fifth venture round on record; the one before was a Series C in Dec 2018.
$150M
Amount raised
$1.00B
Post-money valuation
$850M pre-money
5
Investors
2 leads
1.9x
Step-up from the Series B
$535M in Dec 2018
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Faire at $1.00B after the new money, 1.9 times the $535M of its Series B (Dec 2018). The $150M bought investors about 15% of the company. It came 10 months after Faire's Series C. It is 14% of the $1.10B Faire has raised in the venture rounds on record. Faire raised again 12 months later: a Series E round of $170M in Oct 2020, at $2.50B post-money.
Faire's funding rounds
Faire has 8 venture rounds on record. This one is highlighted.
- Seed 1 Nov 2017, led by Khosla Ventures $3.4M
- Series A 1 Feb 2018, led by Forerunner and Khosla Ventures $12M
- Series B 1 Dec 2018, led by Lightspeed Venture Partners $40M$535M post-money
- Series C 13 Dec 2018, led by Y Combinator $60M
- Series D this round 30 Oct 2019, led by Lightspeed Venture Partners and Founders Fund $150M$1.00B post-money
- Series E 27 Oct 2020, led by Sequoia Capital $170M$2.50B post-money
- Series F 10 Jun 2021, led by Sequoia Capital $260M$7.00B post-money
- Series G 16 Nov 2021, led by Durable Capital Partners, D1 Capital Partners and Dragoneer Investment Group $400M$12.40B post-money
Investors
Who put money in
Lightspeed Venture Partners and Founders Fund led the round with 3 other firms.
Lead investors
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
Also in the round
- Khosla Ventures backs 396 venture-backed companies new investor
- backs 99 venture-backed companies new investor
- Y Combinator backs 1,295 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
The closest in time: Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RigUp Tech Companies | 10 Oct 2019 | $300M | $1.90B | Andreessen Horowitz |
| CARS24 Automobile Dealers & Manufacturers | 17 Oct 2019 | $100M | not disclosed | KCK Global and Unbound |
| Clari Tech Companies | 10 Oct 2019 | $60M | $500M | Sapphire Ventures |
| Sports & Leisure - Clubs, Fields & Pitches | 30 Oct 2019 | $25M | not disclosed | WestRiver Group and RNS Partners |
| Medical Supply Manufacturers | 1 Oct 2019 | undisclosed | not disclosed | not named |
| Tech Companies | 13 Nov 2019 | $400M | $2.75B | Generation Investment Management and T. Rowe Price Associates, Inc. |
| Automattic Tech Companies | 19 Sep 2019 | $300M | $3.00B | Salesforce Ventures |
| Clio Tech Companies | 4 Sep 2019 | $250M | not disclosed | Technology Crossover Ventures and JMI Equity |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Faire raise in its Series D round?
Faire raised $150M in its Series D round, announced in Oct 2019.
Who led Faire's Series D round?
Lightspeed Venture Partners and Founders Fund led it, with Khosla Ventures, Forerunner and Y Combinator.
What was Faire's valuation at the Series D round?
$1.00B post-money ($850M pre-money).
Did Faire raise again after this round?
Yes: a Series E round in Oct 2020 of $170M at $2.50B post-money.