Funding round
Glovo Series E
Glovo, which works in on-demand delivery services in Barcelona, raised $167M in a Series E round announced on 19 Dec 2019, led by Mubadala and Ventures Europe, at a $1.00B post-money valuation. 6 firms took part. It is Glovo's sixth venture round on record; the one before was a Series D in Apr 2019.
$167M
Amount raised
$1.00B
Post-money valuation
$833M pre-money
6
Investors
2 leads
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Glovo at $1.00B after the new money. The $167M bought investors about 17% of the company. It came 8 months after Glovo's Series D. It is 16% of the $1.04B Glovo has raised in the venture rounds on record. Glovo raised again 16 months later: a Series F round of $530M in Apr 2021.
Glovo's funding rounds
Glovo has 7 venture rounds on record. This one is highlighted.
- Seed 24 Nov 2015 $2.1M
- Series A 11 Aug 2016 $5.6M
- Series B 4 Oct 2017, led by Rakuten Capital and Cathay Innovation $35M
- Series C 1 Jul 2018, led by Seaya, Cathay Capital and Idinvest $134M
- Series D 30 Apr 2019, led by Lakestar and Drake $168M
- Series E this round 19 Dec 2019, led by Mubadala and Ventures Europe $167M$1.00B post-money
- Series F 1 Apr 2021, led by Lugard Road Capital and Luxor Capital Group $530M
Investors
Who put money in
Mubadala and Ventures Europe led the round with 4 other firms.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Dec 2019 | $60M | $500M | Coatue |
| Meat, Fish & Seafood Stores | 16 Dec 2019 | $30M | not disclosed | Vertex Growth |
| Gyms, Fitness & Health Centers | 8 Jan 2020 | $285M | $1.00B | L Catterton and Apax Partners |
| Vinted Salvage Merchandise & Thrift Stores | 28 Nov 2019 | $141M | $1.10B | Lightspeed Venture Partners |
| Media Companies | 18 Nov 2019 | $92M | $1.20B | Japan Post Capital Co. Ltd. and ACA Investments Pte Ltd. |
| Payment Processing & Point of Sale | 27 Jan 2020 | $80M | not disclosed | Visa |
| Sysdig Tech Companies | 22 Jan 2020 | $70M | not disclosed | Insight Partners |
| Accounting & Bookkeeping Services | 28 Jan 2020 | $50M | not disclosed | Union Square Ventures and FirstMark |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Glovo raise in its Series E round?
Glovo raised $167M in its Series E round, announced in Dec 2019.
Who led Glovo's Series E round?
Mubadala and Ventures Europe led it, with Lakestar, Drake Enterprises, Idinvest and Delivery Hero Ventures.
What was Glovo's valuation at the Series E round?
$1.00B post-money ($833M pre-money).
Did Glovo raise again after this round?
Yes: a Series F round in Apr 2021 of $530M.