Funding round
Kavak Series D
Kavak, which works in cloud computing and computing solutions in United States, raised $485M in a Series D round announced on 7 Apr 2021, led by D1 Capital Partners, Founders Fund, Ribbit and BOND, at a $4.00B post-money valuation. 4 firms took part. It is Kavak's third venture round on record; the one before was a Series C in Sep 2020.
$485M
Amount raised
$4.00B
Post-money valuation
4
Investors
4 leads
3.5x
Step-up from the Series C
$1.15B in Sep 2020
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Kavak at $4.00B after the new money, 3.5 times the $1.15B of its Series C (Sep 2020). The $485M bought investors about 12% of the company. It came 7 months after Kavak's Series C. It is 26% of the $1.87B Kavak has raised in the venture rounds on record. Kavak raised again 5 months later: a Series E round of $700M in Sep 2021, at $8.70B 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 30 Sep 2020 $385M$1.15B post-money
- Series D this round 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
D1 Capital Partners, Founders Fund, Ribbit and BOND led the round.
Lead investors
- D1 Capital Partners new investor
- Founders Fund backs 368 venture-backed companies new investor
- Ribbit backs 126 venture-backed companies new investor
- BOND backs 91 venture-backed companies new investor
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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Hosting & Cloud Infrastructure Providers, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vercel Hosting & Cloud Infrastructure Providers | 23 Nov 2021 | $150M | $2.50B | GGV Capital |
| Hosting & Cloud Infrastructure Providers | 17 Nov 2021 | $105M | $2.00B | Bessemer Venture Partners |
| SambaNova Tech Companies | 13 Apr 2021 | $676M | $5.00B | SoftBank Vision Fund |
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Trucking and Logistics | 28 Apr 2021 | $300M | not disclosed | ATL Partners |
| Paxos Cryptocurrency | 29 Apr 2021 | $300M | $2.40B | Oak HC/FT |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Kavak raise in its Series D round?
Kavak raised $485M in its Series D round, announced in Apr 2021.
Who led Kavak's Series D round?
D1 Capital Partners, Founders Fund, Ribbit and BOND led it.
What was Kavak's valuation at the Series D round?
$4.00B post-money.
Did Kavak raise again after this round?
Yes: a Series E round in Sep 2021 of $700M at $8.70B post-money.