Funding round
Fundbox Series B
Fundbox, which works in embedded working capital solutions in Plano, raised $40M in a Series B round announced on 19 Mar 2015, led by General Catalyst. 8 firms took part, 4 of them already investors. It is Fundbox's second venture round on record; the one before was a Series A in Apr 2014.
$40M
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 11 months after Fundbox's Series A. It is 10% of the $384M Fundbox has raised in the venture rounds on record. Fundbox raised again 6 months later: a Growth round of $50M in Sep 2015. 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 this round 19 Mar 2015, led by General Catalyst $40M
- Growth 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
General Catalyst led the round with 7 other firms. Khosla Ventures, Shlomo Kramer, Blumberg Capital and NyCa Investment Partners had backed Fundbox before.
Lead investor
- General Catalyst backs 574 venture-backed companies new investor
Also in the round
- Khosla Ventures backs 396 venture-backed companies existing investor
- Shlomo Kramer existing investor
- backs 64 venture-backed companies existing investor
- NyCa Investment Partners existing investor
- backs 21 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- CE Innovation Capital new investor
Joined the board: Hemant Taneja (General Catalyst).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 2.0 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| iwoca Loans & Financing | 30 Jul 2015 | $20M | not disclosed | Acton Capital and CommerzVentures |
| Loans & Financing | 10 Sep 2014 | $37M | not disclosed | Xiaomi and Shunwei Capital |
| Loans & Financing | 17 Sep 2015 | $12M | not disclosed | Susquehanna Growth Equity |
| Loans & Financing | 17 Nov 2015 | $75M | not disclosed | Battery Ventures |
| Loans & Financing | 27 Nov 2015 | $9.0M | not disclosed | not named |
| Loans & Financing | 20 Jan 2016 | $150M | $500M | Susa Ventures and DCVC |
| Loans & Financing | 13 May 2014 | $16M | not disclosed | Foundation Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Fundbox raise in its Series B round?
Fundbox raised $40M in its Series B round, announced in Mar 2015.
Who led Fundbox's Series B round?
General Catalyst led it, with Khosla Ventures, Shlomo Kramer, Blumberg Capital, NyCa Investment Partners and LionBird and 2 more.
What was Fundbox's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
7 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 2.0 times the median.
Did Fundbox raise again after this round?
Yes: a Growth round in Sep 2015 of $50M.