Funding round
Faire Series F
Faire, which works in wholesale marketplace platform development in San Francisco, raised $260M in a Series F round announced on 10 Jun 2021, led by Sequoia Capital, at a $7.00B post-money valuation. 12 firms took part, 9 of them already investors. It is Faire's seventh venture round on record; the one before was a Series E in Oct 2020.
$260M
Amount raised
$7.00B
Post-money valuation
$6.74B pre-money
12
Investors
1 lead
2.8x
Step-up from the Series E
$2.50B in Oct 2020
3.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Faire at $7.00B after the new money, 2.8 times the $2.50B of its Series E (Oct 2020). The $260M bought investors about 3.7% of the company. It came 8 months after Faire's Series E. It is 24% of the $1.10B Faire has raised in the venture rounds on record. Faire raised again 5 months later: a Series G round of $400M in Nov 2021, at $12.40B 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 27 Oct 2020, led by Sequoia Capital $170M$2.50B post-money
- Series F this round 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 11 other firms. Forerunner, Founders Fund, Khosla Ventures and Lightspeed Venture Partners and 5 more had backed Faire before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- Baillie Gifford new investor
- Wellington Management new investor
- backs 99 venture-backed companies existing investor
- Founders Fund backs 368 venture-backed companies existing investor
- Khosla Ventures backs 396 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- Y Combinator backs 1,295 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies existing investor
- Dragoneer Investment Group backs 82 venture-backed companies existing investor
- D1 Capital Partners existing investor
- Norwest backs 215 venture-backed companies existing 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 F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Neo4j Tech Companies | 17 Jun 2021 | $325M | $2.00B | Eurazeo |
| Illumio Tech Companies | 24 Jun 2021 | $225M | $2.75B | Thoma Bravo |
| Tech Companies | 1 Jun 2021 | $200M | $2.40B | Blue Owl Capital |
| Goat Group Shoes & Other Footwear Stores | 24 Jun 2021 | $195M | $3.70B | Park West Asset Management |
| Addepar Tech Companies | 16 Jun 2021 | $150M | $2.17B | D1 Capital Partners |
| Noom Nutritionists & Weight Loss Specialists | 25 May 2021 | $540M | not disclosed | Silver Lake |
| Rappi Groceries Delivery | 1 Jul 2021 | $500M | $5.25B | T. Rowe Price |
| Vinted Salvage Merchandise & Thrift Stores | 12 May 2021 | $303M | $5.20B | EQT |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Faire raise in its Series F round?
Faire raised $260M in its Series F round, announced in Jun 2021.
Who led Faire's Series F round?
Sequoia Capital led it, with Baillie Gifford, Wellington Management, Forerunner, Founders Fund and Khosla Ventures and 6 more.
What was Faire's valuation at the Series F round?
$7.00B post-money ($6.74B pre-money).
Did Faire raise again after this round?
Yes: a Series G round in Nov 2021 of $400M at $12.40B post-money.