Funding round
Modsy Series C
Modsy, which works in 3D home visualization technology development in San Francisco, raised $37M in a Series C round announced on 21 May 2019, led by Technology Crossover Ventures. 4 firms took part, 3 of them already investors. It is Modsy's third venture round on record; the one before was a Series B in Dec 2017.
$37M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Modsy did not disclose a valuation in this round. It came 17 months after Modsy's Series B. It is 54% of the $68M Modsy has raised in the venture rounds on record. No later venture round is on record for Modsy.
Investors
Who put money in
Technology Crossover Ventures led the round with 3 other firms. Norwest, Advance Venture Partners and Comcast Ventures had backed Modsy before.
Lead investor
- Technology Crossover Ventures backs 86 venture-backed companies new investor
Also in the round
- Norwest backs 215 venture-backed companies existing investor
- backs 24 venture-backed companies existing investor
- backs 73 venture-backed companies existing investor
Joined the board: Tina Hoang-To (TCV).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
241 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was close to the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| VideoAmp Tech Companies | 1 May 2019 | $70M | not disclosed | The Raine Group |
| Tech Companies | 21 May 2019 | $60M | $500M | ICONIQ Capital |
| Tech Companies | 1 May 2019 | $42M | not disclosed | HCSC Ventures |
| Tech Companies | 15 May 2019 | $42M | not disclosed | HCSC Ventures |
| Tech Companies | 21 May 2019 | $36M | not disclosed | Blackhorn Ventures and Tenfore Holdings |
| Tech Companies | 14 May 2019 | $35M | not disclosed | Point72 Ventures |
| Tech Companies | 14 May 2019 | $32M | not disclosed | not named |
| Tech Companies | 8 May 2019 | $21M | not disclosed | not named |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Modsy raise in its Series C round?
Modsy raised $37M in its Series C round, announced in May 2019.
Who led Modsy's Series C round?
Technology Crossover Ventures led it, with Norwest, Advance Venture Partners and Comcast Ventures.
What was Modsy's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
241 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was close to the median.