Funding round
Fundbox Growth
Reported as "Growth Equity"
Fundbox, which works in embedded working capital solutions in Plano, raised $50M in a Growth round announced on 10 Sep 2015, led by Spark Capital. 8 firms took part, 3 of them already investors, with 2 individual investors. It is Fundbox's third venture round on record; the one before was a Series B in Mar 2015.
$50M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Fundbox did not disclose a valuation in this round. It came 6 months after Fundbox's Series B. It is 13% of the $384M Fundbox has raised in the venture rounds on record. Fundbox raised again 48 months later: a Series C round of $176M in Sep 2019. Its next priced round, a Series D in Nov 2021, valued it at $1.10B.
Fundbox's funding rounds
Fundbox has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 10 Apr 2014, led by Khosla Ventures $18M
- Series B 19 Mar 2015, led by General Catalyst $40M
- Growth this round 10 Sep 2015, led by Spark Capital $50M
- Series C 24 Sep 2019, led by Allianz X, Healthcare of Ontario Pension Plan and HarbourVest $176M
- Debt not a venture round 25 Sep 2019 $150M
- Series D 30 Nov 2021, led by Healthcare of Ontario Pension Plan (HOOPP) $100M$1.10B post-money
Investors
Who put money in
Spark Capital led the round with 7 other firms. Khosla Ventures, General Catalyst and Blumberg Capital had backed Fundbox before.
Lead investor
- Spark Capital backs 234 venture-backed companies new investor
Also in the round
- Bezos Expeditions new investor
- Sound Ventures backs 114 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies existing investor
- General Catalyst backs 574 venture-backed companies existing investor
- backs 64 venture-backed companies existing investor
- Shlomo Kramer
Individual investors: Ashton Kutcher and Shlomo Kramer.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 63% of the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 1 Oct 2015 | $90M | not disclosed | DFJ Growth |
| Loans & Financing | 1 Aug 2015 | $42M | not disclosed | WestBridge Capital |
| Loans & Financing | 27 Nov 2015 | $100M | not disclosed | not named |
| Loans & Financing | 14 Apr 2015 | $80M | not disclosed | Brown Brothers Harriman and Battery Ventures |
| Loans & Financing | 5 Jul 2016 | $35M | not disclosed | IIFL Asset Management and Quona Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Fundbox raise in its Growth round?
Fundbox raised $50M in its Growth round, announced in Sep 2015.
Who led Fundbox's Growth round?
Spark Capital led it, with Bezos Expeditions, Sound Ventures, Entrée Capital, Khosla Ventures and General Catalyst and 2 more.
What was Fundbox's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
5 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 63% of the median.
Did Fundbox raise again after this round?
Yes: a Series C round in Sep 2019 of $176M.