Funding round
Faire Series G
Faire, which works in wholesale marketplace platform development in San Francisco, raised $400M in a Series G round announced on 16 Nov 2021, led by Durable Capital Partners, D1 Capital Partners and Dragoneer Investment Group, at a $12.40B post-money valuation. 13 firms took part, 12 of them already investors. It is Faire's eighth venture round on record; the one before was a Series F in Jun 2021.
$400M
Amount raised
$12.40B
Post-money valuation
$12.00B pre-money
13
Investors
3 leads
1.8x
Step-up from the Series F
$7.00B in Jun 2021
3.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Faire at $12.40B after the new money, 1.8 times the $7.00B of its Series F (Jun 2021). The $400M bought investors about 3.2% of the company. It came 5 months after Faire's Series F. It is 37% of the $1.10B Faire has raised in the venture rounds on record. No later venture round is on record for Faire.
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 10 Jun 2021, led by Sequoia Capital $260M$7.00B post-money
- Series G this round 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
Durable Capital Partners, D1 Capital Partners and Dragoneer Investment Group led the round with 10 other firms. D1 Capital Partners, Dragoneer Investment Group, Baillie Gifford and DST Global and 8 more had backed Faire before.
Lead investors
- Durable Capital Partners backs 39 venture-backed companies new investor
- D1 Capital Partners existing investor
- Dragoneer Investment Group backs 82 venture-backed companies existing investor
Also in the round
- Baillie Gifford existing investor
- DST Global backs 179 venture-backed companies existing 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
- Norwest backs 215 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Wellington Management existing investor
- Y Combinator backs 1,295 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 G rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Farmers Business Network Farms & Agriculture Production | 19 Nov 2021 | $300M | $4.00B | Fidelity Management & Research Company |
| Collibra Tech Companies | 9 Nov 2021 | $250M | $5.25B | Sequoia Capital and Sofina |
| Magic Leap Tech Companies | 11 Oct 2021 | $500M | $2.00B | not named |
| Sysdig Tech Companies | 15 Dec 2021 | $350M | $2.50B | Permira |
| ShareChat Tech Companies | 16 Dec 2021 | $266M | $3.70B | Alkeon |
| Meat, Fish & Seafood Stores | 4 Oct 2021 | $52M | $1.00B | IIFL Asset Management and IIFL |
| Carta Tech Companies | 13 Aug 2021 | $500M | $7.40B | Silver Lake |
| Payment Processing & Point of Sale | 8 Feb 2022 | $312M | $2.10B | Permira and BlackRock Private Equity Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Faire raise in its Series G round?
Faire raised $400M in its Series G round, announced in Nov 2021.
Who led Faire's Series G round?
Durable Capital Partners, D1 Capital Partners and Dragoneer Investment Group led it, with Baillie Gifford, DST Global, Forerunner, Founders Fund and Khosla Ventures and 5 more.
What was Faire's valuation at the Series G round?
$12.40B post-money ($12.00B pre-money).