Funding round
Grover Series A
Grover, which works in technology device rental services in Wilmington, raised $43M in a Series A round announced on 30 Jul 2018, led by Circularity Capital. 6 firms took part. It is Grover's second venture round on record; the one before was a Seed in Nov 2015.
$43M
Amount raised
37,000,000 EUR converted
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Grover did not disclose a valuation in this round. It came 32 months after Grover's Seed. It is 8.2% of the $529M Grover has raised in the venture rounds on record. Grover raised again 36 months later: a Series B round of $100M in Jul 2021. Its next priced round, a Series C in Apr 2022, valued it at $1.00B.
Grover's funding rounds
Grover has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Circularity Capital led the round with 5 other firms.
Lead investor
- backs 7 venture-backed companies new investor
Also in the round
- backs 34 venture-backed companies new investor
- Samsung NEXT new investor
- Varengold Bank new investor
- Commerzbank’s Main Incubator new investor
- June Fund new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series A rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CMC Group Video and Audio Production | 3 Jul 2018 | $1.50B | $6.00B | China Vanke Co Ltd and Alibaba |
| Biotechnology | 17 Jul 2018 | $45M | not disclosed | Atlas Venture and Sofinnova Partners |
| Market Research & Opinion Polling | 25 Jul 2018 | $40M | not disclosed | not named |
| Tech Companies | 24 Jul 2018 | $37M | not disclosed | not named |
| Sports & Leisure - Clubs, Fields & Pitches | 24 Jul 2018 | $37M | not disclosed | Bessemer Venture Partners |
| Pharmaceutical Products | 18 Jul 2018 | $36M | not disclosed | D&D Pharmatech |
| Insurance - Agents, Carriers & Brokers | 18 Jul 2018 | $34M | not disclosed | Bain Capital Ventures |
| Tech Companies | 1 Jul 2018 | $28M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Grover raise in its Series A round?
Grover raised $43M in its Series A round, announced in Jul 2018.
Who led Grover's Series A round?
Circularity Capital led it, with coparion, Samsung NEXT, Varengold Bank, Commerzbank’s Main Incubator and June Fund.
What was Grover's valuation at the Series A round?
It was not disclosed.
Did Grover raise again after this round?
Yes: a Series B round in Jul 2021 of $100M.