Funding round
NEAR Growth
Reported as "Growth Equity"
NEAR, which works in blockchain protocol development in United States, raised $350M in a Growth round announced on 9 Apr 2022, led by Tiger Global. 9 firms took part. It is NEAR's third venture round on record; the one before was a Growth in Jan 2022.
$350M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
NEAR did not disclose a valuation in this round. It came 3 months after NEAR's Growth. It is 68% of the $512M NEAR has raised in the venture rounds on record. No later venture round is on record for NEAR.
NEAR's funding rounds
NEAR has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Tiger Global led the round with 8 other firms.
Lead investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- backs 29 venture-backed companies new investor
- backs 74 venture-backed companies new investor
- FTX Ventures new investor
- backs 62 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- ParaFi Capital new investor
- new investor
- backs 6 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and sales and marketing.
- Geographic expansion
- Scaling operations
- Sales and marketing
Comparable rounds
How it compares
426 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.8 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Sonar Tech Companies | 26 Apr 2022 | $412M | $4.70B | Advent International and General Catalyst |
| Fetch Tech Companies | 7 Apr 2022 | $240M | $2.50B | Hamilton Lane |
| Tech Companies | 12 Apr 2022 | $215M | not disclosed | Vista Equity Partners |
| Kpler Tech Companies | 13 Apr 2022 | $200M | not disclosed | Insight Partners and Five Arrows |
| Tech Companies | 11 Apr 2022 | $185M | $1.70B | SoftBank Vision Fund |
| Tech Companies | 7 Apr 2022 | $150M | $3.00B | Andreessen Horowitz and SoftBank Vision Fund |
| Tech Companies | 28 Apr 2022 | $105M | $530M | Bertelsmann Investments |
| Tech Companies | 8 Apr 2022 | $100M | $1.60B | Novator Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did NEAR raise in its Growth round?
NEAR raised $350M in its Growth round, announced in Apr 2022.
Who led NEAR's Growth round?
Tiger Global led it, with Blockchange, Dragonfly, FTX Ventures, Hashed and MetaWeb Ventures and 3 more.
What was NEAR's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
426 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.8 times the median.