Funding round
Mercury Series A
Mercury, which works in business banking services in San Francisco, raised $20M in a Series A round announced on 25 Sep 2019, led by CRV. 8 firms took part. It is Mercury's first venture round on record.
$20M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Mercury did not disclose a valuation in this round. It is Mercury's first venture round on record, 2 years after it was founded in 2017. It is 3.1% of the $640M Mercury has raised in the venture rounds on record. Mercury raised again 22 months later: a Series B round of $120M in Jul 2021, at $1.62B post-money.
Mercury's funding rounds
Mercury has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series A this round 25 Sep 2019, led by CRV $20M
- Series B 30 Jul 2021, led by Coatue $120M$1.62B post-money
- Debt not a venture round 9 Oct 2024, led by Natixis Corporate & Investment Banking $100M
- Series C 25 Mar 2025, led by Sequoia Capital $300M$3.50B post-money
- Series D 20 May 2026, led by Technology Crossover Ventures $200M$5.20B post-money
Investors
Who put money in
CRV led the round with 7 other firms.
Lead investor
- CRV backs 177 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 30 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- backs 43 venture-backed companies new investor
- backs 91 venture-backed companies new investor
- 500 Global backs 327 venture-backed companies new investor
- Melo7 Tech Partners new investor
Joined the board: Saar Gur (CRV).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series A rounds in Banks & ATMs within a year either side disclosed an amount; the median was $15M, and this round was 1.3 times the median. The closest in time, other companies' Series A rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 17 Sep 2019 | $11M | not disclosed | Flourish and DST Global |
| Banks & ATMs | 17 Sep 2019 | $11M | not disclosed | Flourish Ventures and DST Global |
| Banks & ATMs | 6 Jun 2019 | $23M | not disclosed | Stripes |
| Banks & ATMs | 10 Mar 2020 | $21M | not disclosed | Battery Ventures |
| Banks & ATMs | 17 Mar 2020 | $17M | not disclosed | not named |
| Banks & ATMs | 6 May 2020 | $13M | not disclosed | not named |
| Banks & ATMs | 1 Jun 2020 | $21M | not disclosed | Sequoia India and Point72 |
| Banks & ATMs | 14 Sep 2020 | $14M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Mercury raise in its Series A round?
Mercury raised $20M in its Series A round, announced in Sep 2019.
Who led Mercury's Series A round?
CRV led it, with Andreessen Horowitz, Dreamers VC, 35V, Serena Ventures and Clocktower Ventures and 2 more.
What was Mercury's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Banks & ATMs?
8 Series A rounds in Banks & ATMs within a year either side disclosed an amount; the median was $15M, and this round was 1.3 times the median.
Did Mercury raise again after this round?
Yes: a Series B round in Jul 2021 of $120M at $1.62B post-money.