Funding round
Kurly Series E
Kurly, which works in healthy food ingredient retail in South Korea, raised $150M in a Series E round announced on 8 Apr 2020, led by DST Global, at a $780M post-money valuation. 7 firms took part, 6 of them already investors. It is Kurly's third venture round on record; the one before was a Series D in Apr 2019.
$150M
Amount raised
$780M
Post-money valuation
7
Investors
1 lead
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Kurly at $780M after the new money. The $150M bought investors about 19% of the company. It came 12 months after Kurly's Series D. It is 23% of the $648M Kurly has raised in the venture rounds on record. Kurly raised again 15 months later: a Series F round of $200M in Jul 2021, at $2.20B post-money.
Kurly's funding rounds
Kurly has 5 venture rounds on record. This one is highlighted.
- Series C 20 Sep 2018, led by DST Global amount not disclosed
- Series D 1 Apr 2019 $88M
- Series E this round 8 Apr 2020, led by DST Global $150M$780M post-money
- Series F 9 Jul 2021, led by Aspex Management, DST Global and HSG $200M$2.20B post-money
- Growth 19 Dec 2021, led by Anchor Equity Partners $210M$3.30B post-money
Investors
Who put money in
DST Global led the round with 6 other firms. Sequoia Capital, Hillhouse Capital, DST Global and SK Networks and 2 more had backed Kurly before.
Lead investor
- DST Global backs 179 venture-backed companies existing investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies existing investor
- Hillhouse Capital existing investor
- SK Networks existing investor
- Translink Capital existing investor
- backs 5 venture-backed companies existing investor
- Aspex Management new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cohesity Tech Companies | 9 Apr 2020 | $250M | $2.50B | DFJ Growth and Foundation Capital |
| Tech Companies | 7 Apr 2020 | $100M | not disclosed | Institutional Venture Partners |
| Tech Companies | 21 Apr 2020 | $94M | not disclosed | Riverwood Capital |
| Tech Companies | 7 Apr 2020 | $58M | not disclosed | CTC Capital |
| Rebel Foods Tech Companies | 10 Apr 2020 | $50M | not disclosed | not named |
| Travel Agencies | 30 Mar 2020 | $200M | $2.25B | EXOR |
| MasterClass Learning, Tutoring & Courses | 20 May 2020 | $100M | $800M | Fidelity Management & Research Company and Fidelity |
| Tech Companies | 13 Mar 2020 | $52M | not disclosed | DBJ Capital and Mitsubishi UFJ Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Kurly raise in its Series E round?
Kurly raised $150M in its Series E round, announced in Apr 2020.
Who led Kurly's Series E round?
DST Global led it, with Sequoia Capital, Hillhouse Capital, SK Networks, Translink Capital and Fuse Venture Partners and 1 more.
What was Kurly's valuation at the Series E round?
$780M post-money.
Did Kurly raise again after this round?
Yes: a Series F round in Jul 2021 of $200M at $2.20B post-money.