Funding round
Faire Series E
Faire, which works in wholesale marketplace platform development in San Francisco, raised $170M in a Series E round announced on 27 Oct 2020, led by Sequoia Capital, at a $2.50B post-money valuation. 10 firms took part, 5 of them already investors. It is Faire's sixth venture round on record; the one before was a Series D in Oct 2019.
$170M
Amount raised
$2.50B
Post-money valuation
10
Investors
1 lead
2.5x
Step-up from the Series D
$1.00B in Oct 2019
6.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Faire at $2.50B after the new money, 2.5 times the $1.00B of its Series D (Oct 2019). The $170M bought investors about 6.8% of the company. It came 12 months after Faire's Series D. It is 16% of the $1.10B Faire has raised in the venture rounds on record. Faire raised again 8 months later: a Series F round of $260M in Jun 2021, at $7.00B 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 30 Oct 2019, led by Lightspeed Venture Partners and Founders Fund $150M$1.00B post-money
- Series E this round 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
Sequoia Capital led the round with 9 other firms. Y Combinator, Lightspeed Venture Partners, Forerunner and Khosla Ventures and 1 more had backed Faire before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- Y Combinator backs 1,295 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- backs 99 venture-backed companies existing investor
- Khosla Ventures backs 396 venture-backed companies existing investor
- Founders Fund backs 368 venture-backed companies existing investor
- D1 Capital Partners new investor
- DST Global backs 179 venture-backed companies new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Norwest backs 215 venture-backed companies new investor
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
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 28 Oct 2020 | $340M | $3.30B | NewView Capital and Wellington Management |
| Arctic Wolf Tech Companies | 22 Oct 2020 | $200M | $1.30B | Viking Global |
| Tipalti Payment Processing & Point of Sale | 6 Oct 2020 | $150M | $2.00B | Durable Capital Partners |
| Tech Companies | 15 Oct 2020 | $118M | not disclosed | L Catterton and Activant |
| Farms & Agriculture Production | 20 Oct 2020 | $100M | not disclosed | Cox Enterprises |
| Tech Companies | 6 Oct 2020 | $100M | $1.20B | OMERS Growth Equity |
| WHOOP Medical Supply Manufacturers | 28 Oct 2020 | $100M | $1.20B | Institutional Venture Partners |
| Tech Companies | 27 Oct 2020 | $40M | not disclosed | Accel |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Faire raise in its Series E round?
Faire raised $170M in its Series E round, announced in Oct 2020.
Who led Faire's Series E round?
Sequoia Capital led it, with Y Combinator, Lightspeed Venture Partners, Forerunner, Khosla Ventures and Founders Fund and 4 more.
What was Faire's valuation at the Series E round?
$2.50B post-money.
Did Faire raise again after this round?
Yes: a Series F round in Jun 2021 of $260M at $7.00B post-money.