Funding round
Fundbox Series C
Fundbox, which works in embedded working capital solutions in Plano, raised $176M in a Series C round announced on 24 Sep 2019, led by Allianz X, Healthcare of Ontario Pension Plan and HarbourVest. 15 firms took part. It is Fundbox's fourth venture round on record; the one before was a Growth in Sep 2015.
$176M
Amount raised
Not disclosed
Post-money valuation
15
Investors
3 leads
Valuation
What this round says about the price
Fundbox did not disclose a valuation in this round. It came 48 months after Fundbox's Growth. It is 46% of the $384M Fundbox has raised in the venture rounds on record. Fundbox raised again 26 months later: a Series D round of $100M in Nov 2021, at $1.10B post-money.
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 10 Sep 2015, led by Spark Capital $50M
- Series C this round 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
Allianz X, Healthcare of Ontario Pension Plan and HarbourVest led the round with 12 other firms.
Lead investors
- Allianz X backs 23 venture-backed companies new investor
- Healthcare of Ontario Pension Plan new investor
- HarbourVest backs 37 venture-backed companies new investor
Also in the round
- 9Yards Capital new investor
- backs 34 venture-backed companies new investor
- SEB Private Equity (on behalf of clients) new investor
- backs 61 venture-backed companies new investor
- Synchrony new investor
- MUFG Innovation Partners Co., Ltd. new investor
- Recruit Strategic Partners new investor
- GMO Internet Group new investor
- backs 20 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- Spark Capital backs 234 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $44M, and this round was 4.0 times the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Gojo Loans & Financing | 30 Sep 2019 | $40M | not disclosed | Dai-ichi Life Insurance Co., Ltd. |
| Loans & Financing | 28 Oct 2019 | $60M | not disclosed | Colchis Capital |
| Loans & Financing | 22 Oct 2019 | $48M | not disclosed | Square Peg and Airtree |
| Loans & Financing | 14 Oct 2019 | $23M | not disclosed | NH Investment & Securities |
| Loans & Financing | 5 Aug 2019 | $21M | not disclosed | British International Investment |
| Loans & Financing | 9 Oct 2019 | $10M | not disclosed | Airtree |
| Loans & Financing | 12 Aug 2019 | undisclosed | $28M | Das Capital and Gunosy Capital |
| Octane Loans & Financing | 1 Nov 2019 | $70M | $400M | Valar Ventures |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Fundbox raise in its Series C round?
Fundbox raised $176M in its Series C round, announced in Sep 2019.
Who led Fundbox's Series C round?
Allianz X, Healthcare of Ontario Pension Plan and HarbourVest led it, with 9Yards Capital, Hamilton Lane, SEB Private Equity (on behalf of clients), Cathay Innovation and Synchrony and 7 more.
What was Fundbox's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $44M, and this round was 4.0 times the median.
Did Fundbox raise again after this round?
Yes: a Series D round in Nov 2021 of $100M at $1.10B post-money.