Funding round
Magic Leap Series D
Magic Leap, which works in augmented reality device manufacturing in Plantation, raised $502M in a Series D round announced on 17 Oct 2017, led by Temasek. 9 firms took part. It is Magic Leap's third venture round on record; the one before was a Series C in Feb 2016.
$502M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Magic Leap did not disclose a valuation in this round; its last disclosed one was $4.50B at the Series C (Feb 2016). It came 20 months after Magic Leap's Series C. It is 19% of the $2.62B Magic Leap has raised in the venture rounds on record. Magic Leap raised again 18 months later: a Growth round of $280M in Apr 2019, at $6.40B post-money.
Magic Leap's funding rounds
Magic Leap has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Temasek led the round with 8 other firms.
Lead investor
- Temasek backs 195 venture-backed companies new investor
Also in the round
- EDBI backs 67 venture-backed companies new investor
- Grupo Globo new investor
- Janus Henderson Investors new investor
- Alibaba Group new investor
- Fidelity Management and Research Company new investor
- Google LLC new investor
- J.P. Morgan Investment Management new investor
- T. Rowe Price, Inc. new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
80 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $49M, and this round was 10 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 18 Oct 2017 | $70M | $1.17B | Meritech Capital and Lead Edge Capital |
| Tech Companies | 1 Oct 2017 | $6.6M | not disclosed | Volition Capital |
| Tech Companies | 30 Nov 2017 | $117M | $2.30B | Baillie Gifford |
| Tech Companies | 2 Nov 2017 | $60M | not disclosed | Run Liang Tai Fund (RLT) and Sunsea Telecommunications Co. Ltd. |
| Tech Companies | 8 Nov 2017 | $51M | not disclosed | Access Industries |
| Tech Companies | 8 Nov 2017 | $47M | not disclosed | Norwest |
| Tech Companies | 28 Nov 2017 | $38M | not disclosed | Legend Capital |
| Tech Companies | 14 Nov 2017 | $30M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Magic Leap raise in its Series D round?
Magic Leap raised $502M in its Series D round, announced in Oct 2017.
Who led Magic Leap's Series D round?
Temasek led it, with EDBI, Grupo Globo, Janus Henderson Investors, Alibaba Group and Fidelity Management and Research Company and 3 more.
What was Magic Leap's valuation at the Series D round?
It was not disclosed; its last disclosed one was $4.50B at the Series C (Feb 2016).
How does it compare with other Series D rounds in Tech Companies?
80 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $49M, and this round was 10 times the median.
Did Magic Leap raise again after this round?
Yes: a Growth round in Apr 2019 of $280M at $6.40B post-money.