Funding round
Kavak Series C
Kavak, which works in cloud computing and computing solutions in United States, raised $385M in a Series C round announced on 30 Sep 2020, at a $1.15B post-money valuation. 6 firms took part. It is Kavak's second venture round on record; the one before was a Seed in Jan 2016.
$385M
Amount raised
$1.15B
Post-money valuation
6
Investors
no lead named
33%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Kavak at $1.15B after the new money. The $385M bought investors about 33% of the company. It came 56 months after Kavak's Seed. It is 21% of the $1.87B Kavak has raised in the venture rounds on record. Kavak raised again 7 months later: a Series D round of $485M in Apr 2021, at $4.00B post-money.
Kavak's funding rounds
Kavak has 5 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2016 $3.0M
- Series C this round 30 Sep 2020 $385M$1.15B post-money
- Series D 7 Apr 2021, led by D1 Capital Partners, Founders Fund and Ribbit $485M$4.00B post-money
- Series E 22 Sep 2021, led by General Catalyst $700M$8.70B post-money
- Series F 17 Feb 2026, led by Andreessen Horowitz and WCM Investment Management $300M$8.70B post-money
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- DST Global backs 179 venture-backed companies new investor
- Greenoaks backs 77 venture-backed companies new investor
- SoftBank Group new investor
- JAM Fund new investor
- General Atlantic backs 134 venture-backed companies new investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion.
- Geographic expansion
Comparable rounds
How it compares
7 Series C rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $53M, and this round was 7.3 times the median. The closest in time, other companies' Series C rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 14 May 2020 | $50M | $1.15B | Access Industries |
| Hosting & Cloud Infrastructure Providers | 4 Mar 2020 | $53M | not disclosed | EQT Ventures |
| Hosting & Cloud Infrastructure Providers | 4 Mar 2021 | $26M | not disclosed | Benhamou Global Ventures and STCAP Ventures |
| Wasabi Hosting & Cloud Infrastructure Providers | 29 Apr 2021 | $112M | $700M | Fidelity Management & Research Company |
| Hosting & Cloud Infrastructure Providers | 22 Jan 2020 | $90M | not disclosed | Berkshire Partners |
| Hosting & Cloud Infrastructure Providers | 12 May 2021 | $50M | not disclosed | Anatole Investment and Prospect Avenue Capital |
| Vercel Hosting & Cloud Infrastructure Providers | 23 Jun 2021 | $102M | $1.10B | Bedrock and CRV |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Kavak raise in its Series C round?
Kavak raised $385M in its Series C round, announced in Sep 2020.
Which investors took part in Kavak's Series C round?
DST Global, Greenoaks, SoftBank Group, JAM Fund, General Atlantic and Base Partners.
What was Kavak's valuation at the Series C round?
$1.15B post-money.
How does it compare with other Series C rounds in Hosting & Cloud Infrastructure Providers?
7 Series C rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $53M, and this round was 7.3 times the median.
Did Kavak raise again after this round?
Yes: a Series D round in Apr 2021 of $485M at $4.00B post-money.