Funding round
Forte Series B
Forte, which works in on-chain compliance solutions development in San Francisco, raised $725M in a Series B round announced on 12 Nov 2021, led by The SEA Capital and Kora. 14 firms took part. It is Forte's second venture round on record; the one before was a Series A in May 2021.
$725M
Amount raised
Not disclosed
Post-money valuation
14
Investors
2 leads
Valuation
What this round says about the price
Forte did not disclose a valuation in this round; its last disclosed one was $1.00B at the Series A (May 2021). It came 6 months after Forte's Series A. It is 80% of the $910M Forte has raised in the venture rounds on record. No later venture round is on record for Forte.
Forte's funding rounds
Forte has 2 venture rounds on record. This one is highlighted.
- Series A 20 May 2021, led by Griffin Gaming Partners $185M$1.00B post-money
- Series B this round 12 Nov 2021, led by The SEA Capital and Kora $725M
Investors
Who put money in
The SEA Capital and Kora led the round with 12 other firms.
Lead investors
- backs 4 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Warner Music Group new investor
- Animoca Brands new investor
- backs 16 venture-backed companies new investor
- Overwolf new investor
- Playstudios new investor
- zVentures new investor
- Cosmos new investor
- Polygon Studios new investor
- backs 34 venture-backed companies new investor
- backs 40 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
1,034 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $31M, and this round was 23 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 10 Nov 2021 | $205M | $1.50B | PSG |
| Tech Companies | 4 Nov 2021 | $160M | not disclosed | FTV Management Company |
| Tech Companies | 30 Nov 2021 | $115M | $850M | Tiger Global and Menlo Ventures |
| Tech Companies | 8 Nov 2021 | $100M | $1.00B | ICONIQ Growth |
| Tech Companies | 3 Nov 2021 | $100M | $600M | ICONIQ Growth |
| Tech Companies | 10 Nov 2021 | $100M | $1.00B | Tiger Global Management |
| Tech Companies | 2 Nov 2021 | $93M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 18 Nov 2021 | $90M | $1.00B | Coatue |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Forte raise in its Series B round?
Forte raised $725M in its Series B round, announced in Nov 2021.
Who led Forte's Series B round?
The SEA Capital and Kora led it, with Andreessen Horowitz, Tiger Global, Warner Music Group, Animoca Brands and big_bets and 7 more.
What was Forte's valuation at the Series B round?
It was not disclosed; its last disclosed one was $1.00B at the Series A (May 2021).
How does it compare with other Series B rounds in Tech Companies?
1,034 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $31M, and this round was 23 times the median.