Funding round
MX Series A
MX, which works in financial data solutions development in Lehi, raised $30M in a Series A round announced on 1 Jan 2015, led by USAA, at a $273M post-money valuation. 2 firms took part. It is MX's second venture round on record; the one before was a Seed in Jan 2014.
$30M
Amount raised
$273M
Post-money valuation
$243M pre-money
2
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced MX at $273M after the new money. The $30M bought investors about 11% of the company. It came 12 months after MX's Seed. It is 7.0% of the $430M MX has raised in the venture rounds on record. MX raised again 53 months later: a Series B round of $100M in Jun 2019. Its next priced round, a Series C in Jan 2021, valued it at $1.90B.
MX's funding rounds
MX has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
USAA led the round with 1 other firm.
Lead investor
- USAA new investor
Also in the round
- Digital Garage new investor
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
11 Series A rounds in Data Solutions within a year either side disclosed an amount; the median was $4.0M, and this round was 7.5 times the median. The closest in time, other companies' Series A rounds in Data Solutions:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Data Solutions | 26 Feb 2015 | $3.8M | not disclosed | Felicis |
| Data Solutions | 17 Mar 2015 | $1.3M | not disclosed | Axon Partners Group and Fundación José Manuel Entrecanales |
| Data Solutions | 9 Jul 2014 | $7.0M | not disclosed | Index Ventures |
| Data Solutions | 2 May 2014 | $7.0M | not disclosed | Comcast Ventures |
| Data Solutions | 26 Oct 2015 | $4.0M | not disclosed | OpenAir Equity Partners |
| Data Solutions | 13 Oct 2015 | $2.4M | not disclosed | DCVC |
| Data Solutions | 9 Nov 2015 | $10M | not disclosed | not named |
| Data Solutions | 18 Mar 2014 | $3.8M | not disclosed | Softbank |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did MX raise in its Series A round?
MX raised $30M in its Series A round, announced in Jan 2015.
Who led MX's Series A round?
USAA led it, with Digital Garage.
What was MX's valuation at the Series A round?
$273M post-money ($243M pre-money).
How does it compare with other Series A rounds in Data Solutions?
11 Series A rounds in Data Solutions within a year either side disclosed an amount; the median was $4.0M, and this round was 7.5 times the median.
Did MX raise again after this round?
Yes: a Series B round in Jun 2019 of $100M.