Funding round
Grover Series B
Grover, which works in technology device rental services in Wilmington, raised $100M in a Series B round announced on 28 Jul 2021. 7 firms took part. It is Grover's third venture round on record; the one before was a Series A in Jul 2018.
$100M
Amount raised
Not disclosed
Post-money valuation
7
Investors
no lead named
Valuation
What this round says about the price
Grover did not disclose a valuation in this round. It came 36 months after Grover's Series A. It is 19% of the $529M Grover has raised in the venture rounds on record. Grover raised again 9 months later: a Series C round of $330M in Apr 2022, at $1.00B post-money.
Grover's funding rounds
Grover has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
7 firms took part; no lead investor was named.
Investors
- JMS Capital-Everglen
- backs 18 venture-backed companies
- backs 34 venture-backed companies
- backs 7 venture-backed companies
- backs 34 venture-backed companies
- Seedcamp
- backs 138 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| SVOLT Energy Technology Batteries | 28 Jul 2021 | $15.80B | not disclosed | Bank of China Group Investment (BOCGI) |
| Atama Plus Learning, Tutoring & Courses | 1 Jul 2021 | $5.10B | not disclosed | not named |
| FTX Cryptocurrency | 20 Jul 2021 | $900M | $18.00B | Paradigm and Ribbit |
| Pharmaceutical Products | 15 Jul 2021 | $172M | not disclosed | Abingworth and Tybourne Capital Management |
| Isar Aerospace Aerospace and Defence | 28 Jul 2021 | $165M | not disclosed | HV Capital and Porsche SE |
| Remote Tech Companies | 13 Jul 2021 | $150M | $1.00B | Accel |
| Electronical Components Manufacturing | 1 Jul 2021 | $125M | not disclosed | Tracker Capital and Intel Capital |
| Mercury Banks & ATMs | 30 Jul 2021 | $120M | $1.62B | Coatue |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Grover raise in its Series B round?
Grover raised $100M in its Series B round, announced in Jul 2021.
Which investors took part in Grover's Series B round?
JMS Capital-Everglen, Augmentum Fintech, coparion, Circularity Capital, Viola Group and Seedcamp and 1 more.
What was Grover's valuation at the Series B round?
It was not disclosed.
Did Grover raise again after this round?
Yes: a Series C round in Apr 2022 of $330M at $1.00B post-money.