Funding round
Fireblocks Series D
Fireblocks, which works in digital asset infrastructure development in Tel Aviv, raised $310M in a Series D round announced on 27 Jul 2021, led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW and SCB 10X, at a $2.00B post-money valuation. 6 firms took part. It is Fireblocks' fourth venture round on record; the one before was a Series C in Mar 2021.
$310M
Amount raised
$2.00B
Post-money valuation
6
Investors
6 leads
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Fireblocks at $2.00B after the new money. The $310M bought investors about 16% of the company. It came 4 months after Fireblocks' Series C. It is 30% of the $1.04B Fireblocks has raised in the venture rounds on record. Fireblocks raised again 6 months later: a Series E round of $550M in Jan 2022, at $8.00B post-money.
Fireblocks' funding rounds
Fireblocks has 5 venture rounds on record. This one is highlighted.
- Series A 11 Jun 2019 $16M
- Series B 18 Nov 2020, led by Paradigm $30M
- Series C 18 Mar 2021, led by Coatue, Ribbit and Stripes $133M
- Series D this round 27 Jul 2021, led by Sequoia Capital, Stripes and Spark Capital $310M$2.00B post-money
- Series E 27 Jan 2022, led by D1 Capital Partners and Spark Capital $550M$8.00B post-money
Investors
Who put money in
Sequoia Capital, Stripes, Spark Capital, Coatue, DRW and SCB 10X led the round.
Lead investors
- Sequoia Capital backs 589 venture-backed companies new investor
- Stripes backs 101 venture-backed companies new investor
- Spark Capital backs 234 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- SCB 10X 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
9 Series D rounds in Software Development Services within a year either side disclosed an amount; the median was $60M, and this round was 5.2 times the median. The closest in time, other companies' Series D rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 16 Jun 2021 | $60M | $1.00B | Insight Partners and Georgian |
| VAST Data Software Development Services | 4 May 2021 | $83M | $3.70B | Tiger Global |
| Deel Software Development Services | 18 Oct 2021 | $425M | $5.50B | Coatue |
| Software Development Services | 21 Apr 2021 | $50M | $2.00B | Glynn Capital |
| Software Development Services | 20 Dec 2021 | $87M | $1.10B | WestBridge Capital |
| Software Development Services | 2 Dec 2021 | $35M | not disclosed | Arrowroot Capital |
| Software Development Services | 1 Dec 2020 | $155M | $3.50B | Tiger Global |
| Software Development Services | 31 Dec 2020 | $24M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Fireblocks raise in its Series D round?
Fireblocks raised $310M in its Series D round, announced in Jul 2021.
Who led Fireblocks' Series D round?
Sequoia Capital, Stripes, Spark Capital, Coatue, DRW and SCB 10X led it.
What was Fireblocks' valuation at the Series D round?
$2.00B post-money.
How does it compare with other Series D rounds in Software Development Services?
9 Series D rounds in Software Development Services within a year either side disclosed an amount; the median was $60M, and this round was 5.2 times the median.
Did Fireblocks raise again after this round?
Yes: a Series E round in Jan 2022 of $550M at $8.00B post-money.