Funding round
Moveworks Series B
Moveworks, which works in AI platform development in Mountain View, raised $75M in a Series B round announced on 14 Nov 2019, led by Kleiner Perkins, ICONIQ Capital and Sapphire Ventures. 6 firms took part. It is Moveworks' second venture round on record; the one before was a Series A in Apr 2019.
$75M
Amount raised
Not disclosed
Post-money valuation
6
Investors
3 leads
Valuation
What this round says about the price
Moveworks did not disclose a valuation in this round. It came 7 months after Moveworks' Series A. It is 2.4% of the $3.15B Moveworks has raised in the venture rounds on record. Moveworks raised again 19 months later: a Series C round of $200M in Jun 2021, at $2.10B post-money.
Moveworks' funding rounds
Moveworks has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Kleiner Perkins, ICONIQ Capital and Sapphire Ventures led the round with 3 other firms.
Lead investors
- Kleiner Perkins backs 285 venture-backed companies new investor
- ICONIQ Capital new investor
- Sapphire Ventures backs 148 venture-backed companies new investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
- Comerica Bank new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
549 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $22M, and this round was 3.4 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automation Anywhere Tech Companies | 21 Nov 2019 | $290M | $6.80B | Salesforce Ventures |
| Tech Companies | 14 Nov 2019 | $75M | not disclosed | not named |
| Tech Companies | 19 Nov 2019 | $50M | not disclosed | Warburg Pincus and Bessemer Venture Partners |
| Tech Companies | 20 Nov 2019 | $40M | not disclosed | Spark Capital and SVB Capital |
| Tech Companies | 6 Nov 2019 | $40M | not disclosed | Summit Partners |
| Tech Companies | 14 Nov 2019 | $37M | $150M | Lakestar and Dawn Capital |
| Tech Companies | 19 Nov 2019 | $35M | not disclosed | Hudson Structured Capital Management |
| Tech Companies | 14 Nov 2019 | $32M | not disclosed | noa |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Moveworks raise in its Series B round?
Moveworks raised $75M in its Series B round, announced in Nov 2019.
Who led Moveworks' Series B round?
Kleiner Perkins, ICONIQ Capital and Sapphire Ventures led it, with Lightspeed Venture Partners, Bain Capital Ventures and Comerica Bank.
What was Moveworks' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
549 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $22M, and this round was 3.4 times the median.
Did Moveworks raise again after this round?
Yes: a Series C round in Jun 2021 of $200M at $2.10B post-money.