Funding round
Modsy Series B
Modsy, which works in 3D home visualization technology development in San Francisco, raised $23M in a Series B round announced on 7 Dec 2017, led by Advance Venture Partners. 19 firms took part. It is Modsy's second venture round on record; the one before was a Series A in Feb 2016.
$23M
Amount raised
Not disclosed
Post-money valuation
19
Investors
1 lead
Valuation
What this round says about the price
Modsy did not disclose a valuation in this round. It came 22 months after Modsy's Series A. It is 34% of the $68M Modsy has raised in the venture rounds on record. Modsy raised again 17 months later: a Series C round of $37M in May 2019.
Investors
Who put money in
Advance Venture Partners led the round with 18 other firms.
Lead investor
- backs 24 venture-backed companies new investor
Also in the round
- Norwest backs 215 venture-backed companies new investor
- NBCUniversal Cable Entertainment new investor
- backs 73 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- AME Cloud Ventures backs 105 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- LAUNCHub backs 36 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- backs 91 venture-backed companies new investor
- backs 25 venture-backed companies new investor
- backs 94 venture-backed companies new investor
- Peterson Ventures new investor
- backs 21 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- backs 121 venture-backed companies new investor
- NBCUniversal
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
419 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $17M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 12 Dec 2017 | $27M | not disclosed | Canaan |
| Tech Companies | 19 Dec 2017 | $23M | not disclosed | Redline Capital Management |
| Tech Companies | 4 Dec 2017 | $21M | not disclosed | Redpoint Ventures and Vertex Ventures |
| Tech Companies | 25 Dec 2017 | $18M | not disclosed | Silicon Valley Bank and Industry Ventures |
| Tech Companies | 29 Dec 2017 | $17M | not disclosed | Keen Venture Partners |
| Tech Companies | 6 Dec 2017 | $13M | not disclosed | Susquehanna Growth Equity |
| Tech Companies | 7 Dec 2017 | $12M | not disclosed | AXA Strategic Ventures |
| Tech Companies | 7 Dec 2017 | $11M | not disclosed | Eclipse |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Modsy raise in its Series B round?
Modsy raised $23M in its Series B round, announced in Dec 2017.
Who led Modsy's Series B round?
Advance Venture Partners led it, with Norwest, NBCUniversal Cable Entertainment, Comcast Ventures, Birchmere Ventures and AME Cloud Ventures and 13 more.
What was Modsy's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
419 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $17M, and this round was 1.4 times the median.
Did Modsy raise again after this round?
Yes: a Series C round in May 2019 of $37M.