Funding round
Forte Series A
Forte, which works in on-chain compliance solutions development in San Francisco, raised $185M in a Series A round announced on 20 May 2021, led by Griffin Gaming Partners, at a $1.00B post-money valuation. 5 firms took part. It is Forte's first venture round on record.
$185M
Amount raised
$1.00B
Post-money valuation
5
Investors
1 lead
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Forte at $1.00B after the new money. The $185M bought investors about 19% of the company. It is Forte's first venture round on record, 3 years after it was founded in 2018. It is 20% of the $910M Forte has raised in the venture rounds on record. Forte raised again 6 months later: a Series B round of $725M in Nov 2021.
Forte's funding rounds
Forte has 2 venture rounds on record. This one is highlighted.
- Series A this round 20 May 2021, led by Griffin Gaming Partners $185M$1.00B post-money
- Series B 12 Nov 2021, led by The SEA Capital and Kora $725M
Investors
Who put money in
Griffin Gaming Partners led the round with 4 other firms.
Lead investor
- backs 40 venture-backed companies
Also in the round
- backs 5 venture-backed companies
- Andreessen Horowitz backs 722 venture-backed companies
- Battery Ventures backs 215 venture-backed companies
- backs 169 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
1,741 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 15 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Anthropic Tech Companies | 28 May 2021 | $124M | $550M | Ambient Sound Investments |
| Tech Companies | 26 May 2021 | $50M | not disclosed | Morgan Stanley |
| Vanta Tech Companies | 4 May 2021 | $50M | $500M | Sequoia Capital |
| Tech Companies | 23 May 2021 | $43M | not disclosed | Apax Partners |
| Tech Companies | 24 May 2021 | $40M | not disclosed | Morningside Technology Ventures |
| Tech Companies | 26 May 2021 | $35M | not disclosed | Guidepost Growth Equity |
| Tech Companies | 11 May 2021 | $33M | not disclosed | Maveron and Corner Ventures |
| Tech Companies | 25 May 2021 | $26M | not disclosed | Benchmark |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Forte raise in its Series A round?
Forte raised $185M in its Series A round, announced in May 2021.
Who led Forte's Series A round?
Griffin Gaming Partners led it, with Union Grove Venture Partners, Andreessen Horowitz, Battery Ventures and Canaan.
What was Forte's valuation at the Series A round?
$1.00B post-money.
How does it compare with other Series A rounds in Tech Companies?
1,741 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 15 times the median.
Did Forte raise again after this round?
Yes: a Series B round in Nov 2021 of $725M.