Funding round
Magic Leap Series B
Magic Leap, which works in augmented reality device manufacturing in Plantation, raised $542M in a Series B round announced on 21 Oct 2014, led by GV, at a $2.00B post-money valuation. 8 firms took part. It is Magic Leap's first venture round on record.
$542M
Amount raised
$2.00B
Post-money valuation
$1.46B pre-money
8
Investors
1 lead
27%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Magic Leap at $2.00B after the new money. The $542M bought investors about 27% of the company. It is Magic Leap's first venture round on record, 3 years after it was founded in 2011. It is 21% of the $2.62B Magic Leap has raised in the venture rounds on record. Magic Leap raised again 16 months later: a Series C round of $794M in Feb 2016, at $4.50B post-money.
Magic Leap's funding rounds
Magic Leap has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
GV led the round with 7 other firms.
Lead investor
- GV backs 428 venture-backed companies new investor
Also in the round
- Qualcomm Ventures backs 140 venture-backed companies new investor
- Legendary Entertainment new investor
- KKR backs 104 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 77 venture-backed companies new investor
Joined the board: Sundar Pichai (Google Inc.), Dr. Paul E. Jacobs (Qualcomm Incorporated) and Don Harrison (Google Inc.).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
196 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 43 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Oct 2014 | $100M | not disclosed | Insight Partners |
| Tech Companies | 21 Oct 2014 | $15M | not disclosed | Earlybird |
| Tech Companies | 1 Oct 2014 | $13M | not disclosed | VantagePoint Capital Partners and Cross Head |
| Tech Companies | 20 Oct 2014 | $12M | not disclosed | Devonshire Investors |
| Tech Companies | 21 Oct 2014 | $3.0M | not disclosed | not named |
| Tech Companies | 1 Nov 2014 | $29M | $118M | not named |
| Tech Companies | 25 Sep 2014 | $26M | not disclosed | Menlo Ventures |
| Tech Companies | 24 Sep 2014 | $15M | not disclosed | Sequoia Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Magic Leap raise in its Series B round?
Magic Leap raised $542M in its Series B round, announced in Oct 2014.
Who led Magic Leap's Series B round?
GV led it, with Qualcomm Ventures, Legendary Entertainment, KKR, Vulcan Capital Management and Kleiner Perkins and 2 more.
What was Magic Leap's valuation at the Series B round?
$2.00B post-money ($1.46B pre-money).
How does it compare with other Series B rounds in Tech Companies?
196 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 43 times the median.
Did Magic Leap raise again after this round?
Yes: a Series C round in Feb 2016 of $794M at $4.50B post-money.