Funding round
Moveworks Series A
Moveworks, which works in AI platform development in Mountain View, raised $30M in a Series A round announced on 17 Apr 2019, led by Lightspeed Venture Partners. 2 firms took part. It is Moveworks' first venture round on record.
$30M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Moveworks did not disclose a valuation in this round. It is Moveworks' first venture round on record, 3 years after it was founded in 2016. It is under 1% of the $3.15B Moveworks has raised in the venture rounds on record. Moveworks raised again 7 months later: a Series B round of $75M in Nov 2019. Its next priced round, a Series C in Jun 2021, valued it at $2.10B.
Moveworks' funding rounds
Moveworks has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Lightspeed Venture Partners led the round with 1 other firm.
Lead investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
Also in the round
- Bain Capital Ventures backs 220 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
909 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 3.8 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rippling Tech Companies | 3 Apr 2019 | $45M | $270M | Kleiner Perkins |
| Tech Companies | 1 Apr 2019 | $25M | not disclosed | Sequoia Capital and SV Angel |
| Tech Companies | 2 Apr 2019 | $25M | not disclosed | Banyan Ventures |
| Tech Companies | 3 Apr 2019 | $23M | not disclosed | not named |
| Tech Companies | 17 Apr 2019 | $22M | not disclosed | Goldman Sachs Principal Strategic Investments |
| Tech Companies | 16 Apr 2019 | $16M | $65M | Tiger Global |
| Tech Companies | 25 Apr 2019 | $15M | not disclosed | Shasta Ventures |
| Tech Companies | 1 Apr 2019 | $15M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Moveworks raise in its Series A round?
Moveworks raised $30M in its Series A round, announced in Apr 2019.
Who led Moveworks' Series A round?
Lightspeed Venture Partners led it, with Bain Capital Ventures.
What was Moveworks' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
909 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 3.8 times the median.
Did Moveworks raise again after this round?
Yes: a Series B round in Nov 2019 of $75M.