Funding round
Kalshi Series A
Kalshi, which works in event contract trading services in New York, raised $30M in a Series A round announced on 17 Feb 2021, led by Sequoia Capital. 6 firms took part. It is Kalshi's first venture round on record.
$30M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Kalshi did not disclose a valuation in this round. It is Kalshi's first venture round on record, 3 years after it was founded in 2018. It is 1.2% of the $2.52B Kalshi has raised in the venture rounds on record. Kalshi raised again 52 months later: a Series C round of $185M in Jun 2025, at $2.00B post-money.
Kalshi's funding rounds
Kalshi has 5 venture rounds on record. This one is highlighted.
- Series A this round 17 Feb 2021, led by Sequoia Capital $30M
- Series C 25 Jun 2025, led by Paradigm $185M$2.00B post-money
- Series D 10 Oct 2025, led by Andreessen Horowitz and Sequoia Capital $300M$5.00B post-money
- Series E 2 Dec 2025, led by Paradigm $1.00B$11.00B post-money
- Series F 7 May 2026, led by Coatue $1.00B$22.00B post-money
Investors
Who put money in
Sequoia Capital led the round with 5 other firms.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 2.0 times the median. The closest in time, other companies' Series A rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 1 Mar 2021 | $12M | not disclosed | Canaan |
| Financial Services | 16 Apr 2021 | $27M | not disclosed | Khosla Ventures and Lightspeed Venture Partners |
| Financial Services | 9 Jun 2021 | $16M | not disclosed | not named |
| Financial Services | 10 Jun 2021 | $15M | not disclosed | Thrive Capital |
| Bitpanda Financial Services | 29 Sep 2020 | $52M | not disclosed | Valar Ventures |
| Financial Services | 16 Jul 2021 | $10M | not disclosed | Motley Fool Ventures and Serena Ventures |
| Financial Services | 14 Jul 2021 | $5.0M | $19M | not named |
| Financial Services | 13 Aug 2020 | $18M | not disclosed | Darco Capital |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Kalshi raise in its Series A round?
Kalshi raised $30M in its Series A round, announced in Feb 2021.
Who led Kalshi's Series A round?
Sequoia Capital led it, with Charles Schwab, KKR, SV Angel, Neo and YC Continuity.
What was Kalshi's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Financial Services?
18 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 2.0 times the median.
Did Kalshi raise again after this round?
Yes: a Series C round in Jun 2025 of $185M at $2.00B post-money.