Funding round
MX Series C
MX, which works in financial data solutions development in Lehi, raised $300M in a Series C round announced on 13 Jan 2021, led by TPG, at a $1.90B post-money valuation. 10 firms took part. It is MX's fourth venture round on record; the one before was a Series B in Jun 2019.
$300M
Amount raised
$1.90B
Post-money valuation
10
Investors
1 lead
7.0x
Step-up from the Series A
$273M in Jan 2015
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced MX at $1.90B after the new money, 7.0 times the $273M of its Series A (Jan 2015). The $300M bought investors about 16% of the company. It came 19 months after MX's Series B. It is 70% of the $430M MX has raised in the venture rounds on record. No later venture round is on record for MX.
MX's funding rounds
MX has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
TPG led the round with 9 other firms.
Lead investor
- TPG backs 114 venture-backed companies new investor
Also in the round
- CapitalG backs 70 venture-backed companies new investor
- Geodesic Capital backs 45 venture-backed companies new investor
- Greycroft backs 236 venture-backed companies new investor
- backs 68 venture-backed companies new investor
- Canapi Ventures new investor
- Digital Garage new investor
- Point72 Ventures new investor
- Pelion Venture Partners new investor
- Regions Financial Corp. new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
The closest in time: 2 in Data Solutions, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Data Solutions | 1 Dec 2020 | undisclosed | not disclosed | The Mancal Group |
| Data Solutions | 12 Nov 2021 | $50M | not disclosed | Morgan Stanley |
| Checkout.com Payment Processing & Point of Sale | 1 Jan 2021 | $450M | not disclosed | not named |
| Hive Box Tech Companies | 1 Jan 2021 | $400M | $3.00B | Asia Forge (Cayman) |
| Insurance - Agents, Carriers & Brokers | 26 Jan 2021 | $125M | $1.00B | Drive Capital |
| Newspapers & Magazines | 7 Jan 2021 | $115M | $1.00B | Francisco Partners |
| Job&Talent Tech Companies | 8 Jan 2021 | $108M | not disclosed | InfraVia |
| Investment Consultants & Financial Advisors | 26 Jan 2021 | $100M | not disclosed | General Atlantic |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did MX raise in its Series C round?
MX raised $300M in its Series C round, announced in Jan 2021.
Who led MX's Series C round?
TPG led it, with CapitalG, Geodesic Capital, Greycroft, Cota Capital and Canapi Ventures and 4 more.
What was MX's valuation at the Series C round?
$1.90B post-money.