Funding round
Knock Series B
Knock, which works in homebridge loan product origination in Atlanta, raised $400M in a Series B round announced on 15 Jan 2019, led by Foundry. 6 firms took part, 4 of them already investors. It is Knock's second venture round on record; the one before was a Series A in Jan 2017.
$400M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Knock did not disclose a valuation in this round. It came 24 months after Knock's Series A. It is 61% of the $653M Knock has raised in the venture rounds on record. Knock raised again 38 months later: a Growth round of $220M in Mar 2022.
Investors
Who put money in
Foundry led the round with 5 other firms. RRE, Corazon Capital, Western Technology Investment and FJ Labs had backed Knock before.
Lead investor
- backs 85 venture-backed companies new investor
Also in the round
- backs 68 venture-backed companies existing investor
- backs 16 venture-backed companies existing investor
- backs 83 venture-backed companies existing investor
- FJ Labs backs 316 venture-backed companies existing investor
- backs 37 venture-backed companies new investor
Joined the board: Seth Levine (Foundry Group).
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
32 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $21M, and this round was 20 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 25 Feb 2019 | $15M | not disclosed | FMO |
| MPOWER Financing Loans & Financing | 27 Nov 2018 | $110M | not disclosed | GrayMatters Capital and Community Investment Management |
| Loans & Financing | 30 Nov 2018 | $18M | not disclosed | Square Peg |
| Loans & Financing | 4 Mar 2019 | $4.0M | not disclosed | not named |
| Loans & Financing | 2 Oct 2018 | $25M | not disclosed | International Finance Corporation and Wyelands Capital |
| Loans & Financing | 23 May 2019 | $20M | not disclosed | Greylock Partners |
| Loans & Financing | 6 Sep 2018 | undisclosed | not disclosed | Djarum Group |
| Loans & Financing | 4 Jun 2019 | $52M | not disclosed | WestBridge Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Knock raise in its Series B round?
Knock raised $400M in its Series B round, announced in Jan 2019.
Who led Knock's Series B round?
Foundry led it, with RRE, Corazon Capital, Western Technology Investment, FJ Labs and Company Ventures.
What was Knock's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
32 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $21M, and this round was 20 times the median.
Did Knock raise again after this round?
Yes: a Growth round in Mar 2022 of $220M.