Funding round
Hopper Series G
Hopper, which works in travel booking and distribution in Montreal, raised $175M in a Series G round announced on 17 Aug 2021, led by GPI Capital, at a $3.50B post-money valuation. 5 firms took part, 3 of them already investors. It is Hopper's fifth venture round on record; the one before was a Series F in Mar 2021.
$175M
Amount raised
$3.50B
Post-money valuation
5
Investors
1 lead
5.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Hopper at $3.50B after the new money. The $175M bought investors about 5.0% of the company. It came 5 months after Hopper's Series F. It is 28% of the $615M Hopper has raised in the venture rounds on record. Hopper raised again 15 months later: a Growth round of $96M in Nov 2022, at $5.00B post-money.
Hopper's funding rounds
Hopper has 6 venture rounds on record. This one is highlighted.
- Series B 15 Aug 2012, led by OMERS Ventures $12M
- Series C 15 Dec 2016, led by La Caisse $62M
- Series D 3 Oct 2018, led by OMERS Ventures $100M
- Series F 24 Mar 2021, led by Capital One $170M
- Series G this round 17 Aug 2021, led by GPI Capital $175M$3.50B post-money
- Growth 7 Nov 2022, led by Capital One $96M$5.00B post-money
Investors
Who put money in
GPI Capital led the round with 4 other firms. WestCap, Goldman Sachs Growth and Accomplice had backed Hopper before.
Lead investor
- backs 2 venture-backed companies new investor
Also in the round
- Glade Brook backs 30 venture-backed companies new investor
- WestCap backs 36 venture-backed companies existing investor
- Goldman Sachs Growth existing investor
- backs 102 venture-backed companies existing investor
Joined the board: Khai Ha (GPI Capital).
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: Series G rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Carta Tech Companies | 13 Aug 2021 | $500M | $7.40B | Silver Lake |
| Seismic Tech Companies | 16 Aug 2021 | $170M | $3.00B | Permira |
| DataRobot Tech Companies | 27 Jul 2021 | $300M | $6.30B | Altimeter and Tiger Global |
| FlixBus Buses, Shuttles & Local Transit | 2 Jun 2021 | $650M | $3.00B | Canyon Partners |
| Magic Leap Tech Companies | 11 Oct 2021 | $500M | $2.00B | not named |
| Tech Companies | 2 Jun 2021 | $200M | $4.40B | Premji Invest and STEADFAST Capital Ventures |
| Meat, Fish & Seafood Stores | 4 Oct 2021 | $52M | $1.00B | IIFL Asset Management and IIFL |
| Faire General Retail & Merchandise | 16 Nov 2021 | $400M | $12.40B | Durable Capital Partners and D1 Capital Partners |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Hopper raise in its Series G round?
Hopper raised $175M in its Series G round, announced in Aug 2021.
Who led Hopper's Series G round?
GPI Capital led it, with Glade Brook, WestCap, Goldman Sachs Growth and Accomplice.
What was Hopper's valuation at the Series G round?
$3.50B post-money.
Did Hopper raise again after this round?
Yes: a Growth round in Nov 2022 of $96M at $5.00B post-money.