Lightmatter valuation, funding and investors

Lightmatter works in photonic computing solutions development, based in Mountain View, United States. Founded in 2017, it has about 371 employees.

Electronical Components Manufacturing Mountain View Series D

VALUATION · TODAY

$6.55B −24% after Series D

Range $3.49B – $7.54B · Grade B

TODAY

+12 MO

$2.00B

$4.00B

$6.00B

$8.00B

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series A $22.0M

Series B $80.0M

Series C $155M

Series D $400M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY371 employees

+27%6m growth

+28%1y growth

+95%2y growth

250

500

Data from Jan 2021

TODAY

Predicted in 1 yr $5.01B −24% vs today

Predicted next raise $721M if a round comes

Winding-down probability 0%

Last round: Series D · $400M · Oct 2024
Valuation at last round: $4.40B
Headcount: 371 · up
Grade: B
Founded: 2017

How VCMC values companies →

Lightmatter valuation today

VCMC values Lightmatter at $6.6B today, with a range of $3.5B to $7.5B and a grade of B. The valuation starts from its last funding round, a Series D round in Oct 2024.

Valuation by date (123 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Lightmatter: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2017	$7.03M	$2.56M – $19.3M	$9.63M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$7.22M	$2.63M – $19.8M	$9.89M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$7.39M	$2.69M – $20.3M	$10.1M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$7.59M	$2.76M – $20.9M	$10.4M (+37%)	before first round	–	unknown	D	0%
1 May 2017	$7.79M	$2.84M – $21.4M	$10.7M (+37%)	before first round	–	unknown	D	0%
1 Jun 2017	$8.00M	$2.91M – $22.0M	$11.0M (+37%)	before first round	–	unknown	D	0%
1 Jul 2017	$8.21M	$2.99M – $22.6M	$11.3M (+37%)	before first round	–	unknown	D	0%
1 Aug 2017	$8.44M	$3.07M – $23.2M	$11.6M (+37%)	before first round	–	unknown	D	0%
1 Sep 2017	$8.67M	$3.15M – $23.8M	$11.9M (+37%)	before first round	–	unknown	D	0%
1 Oct 2017	$8.89M	$3.24M – $24.4M	$12.2M (+37%)	before first round	–	unknown	D	0%
1 Nov 2017	$9.14M	$3.33M – $25.1M	$12.5M (+37%)	before first round	–	unknown	D	0%
1 Dec 2017	$9.37M	$3.41M – $25.8M	$12.9M (+37%)	before first round	–	unknown	D	0%
1 Jan 2018	$9.63M	$3.51M – $26.5M	$13.2M (+37%)	before first round	–	unknown	D	0%
1 Feb 2018	$9.89M	$3.60M – $27.2M	$13.6M (+37%)	before first round	–	unknown	D	0%
1 Mar 2018	$10.1M	$3.69M – $27.8M	$13.9M (+37%)	before first round	–	unknown	D	0%
1 Apr 2018	$10.4M	$3.79M – $28.6M	$14.3M (+37%)	before first round	–	unknown	D	0%
1 May 2018	$10.7M	$3.89M – $29.3M	$14.6M (+37%)	before first round	–	unknown	D	0%
1 Jun 2018	$11.0M	$3.99M – $30.1M	$15.0M (+37%)	before first round	–	unknown	D	0%
1 Jul 2018	$11.3M	$4.10M – $30.9M	$15.4M (+37%)	before first round	–	unknown	D	0%
1 Aug 2018	$11.6M	$4.21M – $31.8M	$15.6M (+35%)	before first round	–	unknown	D	0%
1 Sep 2018	$11.9M	$4.33M – $32.6M	$15.7M (+32%)	before first round	–	unknown	D	0%
1 Oct 2018	$12.2M	$4.44M – $33.5M	$15.9M (+30%)	before first round	–	unknown	D	0%
1 Nov 2018	$12.5M	$4.56M – $34.4M	$16.0M (+28%)	before first round	–	unknown	D	0%
1 Dec 2018	$12.9M	$4.68M – $35.3M	$16.2M (+26%)	before first round	–	unknown	D	0%
1 Jan 2019	$13.2M	$4.81M – $36.3M	$16.3M (+24%)	before first round	–	unknown	D	0%
1 Feb 2019	$13.6M	$4.94M – $37.3M	$16.5M (+21%)	before first round	–	unknown	D	0%
26 Feb 2019	$122M	$80.3M – $335M	$220M (+80%)	after a round	–	unknown	C	0%
1 Mar 2019	$123M	$80.3M – $335M	$220M (+79%)	after a round	–	unknown	C	0%
1 Apr 2019	$129M	$80.3M – $335M	$220M (+70%)	after a round	–	unknown	C	0%
1 May 2019	$136M	$80.3M – $335M	$220M (+62%)	after a round	–	unknown	C	0%
1 Jun 2019	$143M	$80.3M – $335M	$220M (+54%)	after a round	–	unknown	C	0%
1 Jul 2019	$150M	$80.3M – $335M	$220M (+47%)	after a round	–	unknown	C	0%
1 Aug 2019	$157M	$80.3M – $335M	$220M (+40%)	after a round	–	unknown	C	0%
1 Sep 2019	$165M	$80.3M – $335M	$220M (+33%)	after a round	–	unknown	C	0%
1 Oct 2019	$174M	$80.3M – $335M	$220M (+27%)	after a round	–	unknown	C	0%
1 Nov 2019	$182M	$80.3M – $335M	$220M (+21%)	after a round	–	unknown	C	0%
1 Dec 2019	$191M	$80.3M – $335M	$220M (+15%)	after a round	–	unknown	C	0%
1 Jan 2020	$201M	$80.3M – $335M	$220M (+9%)	after a round	–	unknown	C	0%
1 Feb 2020	$212M	$80.3M – $335M	$220M (+4%)	after a round	–	unknown	C	0%
1 Mar 2020	$220M	$79.7M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Apr 2020	$220M	$75.7M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 May 2020	$220M	$72.1M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Jun 2020	$220M	$68.5M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Jul 2020	$220M	$65.2M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Aug 2020	$220M	$62.0M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Sep 2020	$220M	$58.9M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Oct 2020	$220M	$56.1M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Nov 2020	$220M	$53.3M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Dec 2020	$220M	$50.7M – $335M	$220M (0%)	after a round	–	unknown	C	0%
1 Jan 2021	$220M	$48.2M – $335M	$220M (0%)	after a round	43	unknown	C	0%
1 Feb 2021	$220M	$45.8M – $335M	$220M (0%)	after a round	43	unknown	C	0%
1 Mar 2021	$220M	$43.7M – $335M	$220M (0%)	after a round	43	unknown	D	0%
1 Apr 2021	$220M	$41.6M – $335M	$218M (-1%)	after a round	43	flat	D	0%
1 May 2021	$220M	$39.6M – $335M	$216M (-2%)	after a round	43	flat	D	0%
7 May 2021	$503M	$354M – $1.1B	$754M (+50%)	after a round	43	flat	B	0%
1 Jun 2021	$517M	$354M – $1.1B	$754M (+46%)	after a round	43	flat	B	0%
1 Jul 2021	$535M	$354M – $1.1B	$754M (+41%)	after a round	43	flat	B	0%
1 Aug 2021	$554M	$354M – $1.1B	$754M (+36%)	after a round	43	flat	B	0%
1 Sep 2021	$573M	$354M – $1.1B	$754M (+32%)	after a round	43	flat	B	0%
1 Oct 2021	$592M	$354M – $1.1B	$754M (+27%)	after a round	43	flat	B	0%
1 Nov 2021	$613M	$354M – $1.1B	$754M (+23%)	after a round	43	flat	B	0%
1 Dec 2021	$634M	$354M – $1.1B	$754M (+19%)	after a round	43	flat	B	0%
1 Jan 2022	$656M	$354M – $1.1B	$754M (+15%)	after a round	43	flat	B	0%
1 Feb 2022	$759M	$411M – $1.2B	$876M (+15%)	after a round	85	growing	B	0%
1 Mar 2022	$792M	$411M – $1.2B	$876M (+11%)	after a round	85	growing	B	0%
1 Apr 2022	$830M	$411M – $1.2B	$876M (+6%)	after a round	85	growing	B	0%
1 May 2022	$869M	$411M – $1.2B	$876M (+1%)	after a round	85	growing	B	0%
1 Jun 2022	$876M	$416M – $1.2B	$876M (0%)	after a round	85	growing	B	0%
1 Jul 2022	$876M	$420M – $1.2B	$876M (0%)	after a round	85	growing	B	0%
1 Aug 2022	$876M	$426M – $1.2B	$876M (0%)	after a round	85	growing	B	0%
1 Sep 2022	$876M	$431M – $1.2B	$876M (0%)	after a round	85	growing	B	0%
1 Oct 2022	$876M	$436M – $1.2B	$876M (0%)	after a round	85	growing	B	0%
1 Nov 2022	$876M	$319M – $1.2B	$876M (0%)	after a round	85	unknown	C	0%
1 Dec 2022	$876M	$306M – $1.2B	$876M (0%)	after a round	85	unknown	C	0%
1 Jan 2023	$927M	$417M – $1.3B	$927M (0%)	after a round	110	up	B	0%
1 Feb 2023	$927M	$414M – $1.3B	$927M (0%)	after a round	110	up	B	0%
1 Mar 2023	$927M	$412M – $1.3B	$927M (0%)	after a round	110	up	B	0%
1 Apr 2023	$927M	$410M – $1.3B	$927M (0%)	after a round	110	up	B	0%
1 May 2023	$927M	$407M – $1.3B	$927M (0%)	after a round	110	up	B	0%
1 Jun 2023	$927M	$342M – $1.3B	$926M (0%)	after a round	110	up	C	0%
1 Jul 2023	$927M	$336M – $1.3B	$925M (0%)	after a round	110	up	C	0%
1 Aug 2023	$927M	$329M – $1.3B	$924M (0%)	after a round	110	up	C	0%
1 Sep 2023	$927M	$197M – $1.3B	$927M (0%)	after a round	110	unknown	C	0%
1 Oct 2023	$962M	$329M – $1.4B	$945M (-2%)	after a round	130	up	C	0%
1 Nov 2023	$962M	$323M – $1.4B	$941M (-2%)	after a round	130	up	C	0%
1 Dec 2023	$962M	$317M – $1.4B	$938M (-2%)	after a round	130	up	C	0%
20 Dec 2023	$1.2B	$1.0B – $1.8B	$1.6B (+30%)	after a round	130	up	A	0%
1 Jan 2024	$1.2B	$1.0B – $1.8B	$1.6B (+29%)	after a round	130	up	A	0%
1 Feb 2024	$1.2B	$1.0B – $1.8B	$1.6B (+26%)	after a round	130	up	A	0%
1 Mar 2024	$1.3B	$1.0B – $1.8B	$1.6B (+23%)	after a round	130	up	A	0%
1 Apr 2024	$1.3B	$1.0B – $1.8B	$1.6B (+21%)	after a round	130	up	A	0%
1 May 2024	$1.3B	$1.0B – $1.8B	$1.6B (+18%)	after a round	130	up	A	0%
1 Jun 2024	$1.4B	$1.0B – $1.8B	$1.6B (+15%)	after a round	130	up	A	0%
1 Jul 2024	$1.4B	$1.0B – $1.8B	$1.6B (+13%)	after a round	130	up	A	0%
1 Aug 2024	$1.5B	$1.0B – $2.0B	$1.7B (+14%)	after a round	190	growing	B	0%
1 Sep 2024	$1.5B	$1.0B – $2.0B	$1.7B (+11%)	after a round	190	growing	B	0%
1 Oct 2024	$1.6B	$1.0B – $2.0B	$1.7B (+8%)	after a round	190	growing	B	0%
17 Oct 2024	$4.4B	$3.8B – $6.6B	$5.7B (+30%)	after a round	190	growing	A	0%
1 Nov 2024	$4.5B	$3.8B – $6.6B	$5.7B (+29%)	after a round	200	growing	A	0%
1 Dec 2024	$4.5B	$3.8B – $6.6B	$5.7B (+26%)	after a round	200	growing	A	0%
1 Jan 2025	$4.7B	$3.8B – $6.6B	$5.7B (+23%)	after a round	200	growing	A	0%
1 Feb 2025	$4.8B	$3.8B – $6.6B	$5.7B (+20%)	after a round	200	growing	A	0%
1 Mar 2025	$4.9B	$3.8B – $6.6B	$5.7B (+18%)	after a round	200	growing	A	0%
1 Apr 2025	$5.0B	$3.8B – $6.6B	$5.7B (+15%)	after a round	200	growing	A	0%
1 May 2025	$5.1B	$3.8B – $6.6B	$5.7B (+13%)	after a round	200	flat	A	0%
1 Jun 2025	$5.2B	$3.8B – $6.6B	$5.7B (+10%)	after a round	200	flat	A	0%
1 Jul 2025	$5.3B	$3.8B – $6.6B	$5.7B (+8%)	after a round	200	flat	A	0%
1 Aug 2025	$5.7B	$3.8B – $7.1B	$6.2B (+7%)	after a round	280	growing	B	0%
1 Sep 2025	$5.9B	$3.8B – $7.1B	$6.2B (+4%)	after a round	289	growing	B	0%
1 Oct 2025	$6.1B	$3.8B – $7.1B	$6.2B (+1%)	after a round	289	growing	B	0%
1 Nov 2025	$6.2B	$3.8B – $7.1B	$6.2B (0%)	after a round	291	growing	B	0%
1 Dec 2025	$6.2B	$3.9B – $7.1B	$6.2B (0%)	after a round	291	growing	B	0%
1 Jan 2026	$6.2B	$3.9B – $7.1B	$6.2B (0%)	after a round	291	growing	A	0%
1 Feb 2026	$6.2B	$4.0B – $7.1B	$6.2B (0%)	after a round	291	growing	A	0%
1 Mar 2026	$6.2B	$4.0B – $7.1B	$6.2B (0%)	after a round	291	growing	A	0%
1 Apr 2026	$6.2B	$4.1B – $7.1B	$6.2B (0%)	after a round	291	growing	A	0%
1 May 2026	$6.4B	$4.2B – $7.4B	$6.4B (0%)	after a round	332	growing	A	0%
1 Jun 2026	$6.4B	$3.8B – $7.4B	$6.4B (0%)	after a round	332	up	B	0%
1 Jul 2026	$6.4B	$3.8B – $7.4B	$6.4B (0%)	after a round	332	up	B	0%
1 Aug 2026	$6.5B	$3.8B – $7.5B	$6.5B (0%)	after a round	358	up	B	0%
1 Sep 2026	$6.5B	$3.8B – $7.5B	$6.5B (0%)	after a round	358	up	B	0%
1 Oct 2026	$6.6B	$3.8B – $7.5B	$6.6B (0%)	after a round	371	up	B	0%
24 Oct 2026	$6.6B	$3.5B – $7.5B	$5.0B (-24%)	after a round	371	up	B	0%

Key facts about Lightmatter

Founded: 2017
Headquarters: Mountain View, United States
Employees: about 371 +28% in a year
Total raised: $657M
Funding rounds: 4
Last round: Series D Oct 2024

Lightmatter was founded in 2017 by Darius Bunandar, Nicholas Harris and Thomas Graham.

Lightmatter funding history

Lightmatter has 4 funding rounds on record, from Feb 2019 to Oct 2024, $657M in total. The latest disclosed valuation is $4.40B post-money (Series D, Oct 2024).

Series D 16 Oct 2024
Led by T. Rowe Price; with Fidelity Management & Research Company, GV, Fidelity.
Sources: blumbergcapital.com, lightmatter.co, businesswire.com and 3 more
$400M
$4.40B post-money
Series C 19 Dec 2023
Led by GV, Viking Global.
Sources: businesswire.com
$155M
$1.20B post-money
Series B 6 May 2021
Led by Viking Global; with GV, Hewlett Packard Enterprise, Lockheed Martin, Matrix, SIP Global Partners, Spark Capital.
Sources: businesswire.com, techcrunch.com, hpcwire.com and 2 more
$80M
Series A 25 Feb 2019
Led by GV; with Matrix, Spark Capital.
Sources: yahoo.com, prnewswire.com
$22M

Lightmatter investors

10 investors have backed Lightmatter; GV, Viking Global and T. Rowe Price led at least one round.

GV lead, 4 rounds
T. Rowe Price lead
Matrix 2 rounds
Spark Capital 2 rounds
Fidelity
Fidelity Management & Research Company
Hewlett Packard Enterprise
Lockheed Martin

What Lightmatter does

Lightmatter works in electronical components manufacturing, with 15 recorded offerings and customers in technology, cloud computing and telecommunications.

LIGHTMATTER, INC. is an American computer hardware manufacturer engaged in photonic computing solutions, including co-packaged optics (CPO) technology for data center infrastructure. The company develops and manufactures hardware platforms for AI infrastructure, high-performance computing, and cloud computing, with applications in areas such as computer vision, natural language processing, and 5G base station computing. Lightmatter also provides software tools for neural network deployment and debugging, and operates a rack-scale validation platform for product testing and performance optimization.

Description from Veridion's company data.

Products and services

Photonic Computing Solutions Development
Co-Packaged Optics Technology Engineering
3D Co-Packaged Optics Manufacturing
Edgeless I/O Architecture Integration
High-Speed Optical Data Link Engineering
AI Infrastructure Hardware Manufacturing
Data Center Optical Connectivity Solutions
Neural Network Deployment Software Development
Neural Network Debugging and Profiling Tools Development
AI Model Performance Optimization Software Development
Photonics Standardization Advocacy and Collaboration
Rack-Scale Hardware Validation Services
Computer Vision Computing Solutions Development
Natural Language Processing Computing Solutions Development
Machine Translation Computing Solutions Development

Markets

Technology
Cloud Computing
Telecommunications

Technology

3D Co-Packaged Optics
Edgeless I/O Architecture
Bidirectional/Unidirectional 3D Co-Packaged Optics
Wavelength-Division Multiplexing for Optical Data Communication
Radix-Enabled Optical Data Communication

Business model

Business-to-Business
Manufacturing
Enterprise

Industry codes (NAICS)

334118 Computer Terminal and Other Computer Peripheral Equipment Manufacturing 75% match
541511 Custom Computer Programming Services 25% match

Questions about Lightmatter

What is Lightmatter worth?

Valuation $6.6B (range $3.5B to $7.5B), as of 24 Oct 2026. The last disclosed valuation was $4.40B (Series D, Oct 2024).

Has Lightmatter raised money?

Lightmatter has 4 funding rounds on record, from Feb 2019 to Oct 2024, $657M in total. The latest disclosed valuation is $4.40B post-money (Series D, Oct 2024).

Who has invested in Lightmatter?

GV, Viking Global, T. Rowe Price, Matrix, Spark Capital and Fidelity, and 4 more. Lead investors include GV, Viking Global and T. Rowe Price.

How many people work at Lightmatter?

About 371, up 28% over the last year. Headcount grew from 43 in Jan 2021 to 371 in Sep 2026.

What does Lightmatter do?

Lightmatter works in electronical components manufacturing, with 15 recorded offerings and customers in technology, cloud computing and telecommunications. Its main offerings are photonic computing solutions development, co-packaged optics technology engineering and 3D co-packaged optics manufacturing.

When was Lightmatter founded, and where is it based?

Lightmatter was founded in 2017 and is based in Mountain View, United States. It has about 371 employees, up 28% over the last year.

How we value companies Report an issue