Funding round
GreyOrange Growth
Reported as "Growth Equity"
GreyOrange, which works in warehouse automation solutions development in Roswell, raised $110M in a Growth round announced on 17 May 2022, led by Mithril. 2 firms took part, with 1 individual investor. It is GreyOrange's third venture round on record; the one before was a Series C in Sep 2018.
$110M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
GreyOrange did not disclose a valuation in this round. It came 44 months after GreyOrange's Series C. It is 27% of the $415M GreyOrange has raised in the venture rounds on record. GreyOrange raised again 19 months later: a Series D round of $135M in Dec 2023.
Investors
Who put money in
Mithril led the round with 1 other firm.
Lead investor
- backs 16 venture-backed companies new investor
Also in the round
- BlackRock new investor
Individual investors: Binny Bansal.
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
417 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 2.0 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 May 2022 | $215M | not disclosed | Vista Equity Partners |
| Arcadia Tech Companies | 10 May 2022 | $200M | not disclosed | J.P. Morgan Asset Management’s Sustainable Growth Equity Team |
| Tech Companies | 17 May 2022 | $200M | not disclosed | Vertica Capital Partners |
| Tech Companies | 16 May 2022 | $68M | $376M | not named |
| Tech Companies | 2 May 2022 | $60M | not disclosed | Lightsmith |
| Tech Companies | 19 May 2022 | $35M | not disclosed | Lateral Investment Management |
| Tech Companies | 25 May 2022 | $30M | not disclosed | Canadian Business Growth Fund and Export Development Canada |
| Tech Companies | 26 May 2022 | $30M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did GreyOrange raise in its Growth round?
GreyOrange raised $110M in its Growth round, announced in May 2022.
Who led GreyOrange's Growth round?
Mithril led it, with BlackRock.
What was GreyOrange's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
417 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 2.0 times the median.
Did GreyOrange raise again after this round?
Yes: a Series D round in Dec 2023 of $135M.