Funding round
North Road Growth
Reported as "Growth Equity"
North Road, which works in content production services in Los Angeles, raised $500M in a Growth round announced on 6 Jul 2022, led by Providence Equity. 1 firm took part. It is North Road's first venture round on record.
$500M
Amount raised
of which $300M debt
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
North Road did not disclose a valuation in this round. It is North Road's first venture round on record, in the year it was founded (2022). It is 77% of the $650M North Road has raised in the venture rounds on record. North Road raised again 6 months later: a Growth round of $150M in Jan 2023, at $1.00B post-money.
North Road's funding rounds
North Road has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Debt not a venture round 6 Jul 2022 $300M
- Growth this round 6 Jul 2022, led by Providence Equity $500M
- Growth 31 Jan 2023, led by Qatar Investment Authority $150M$1.00B post-money
Investors
Who put money in
Providence Equity led the round.
Lead investor
- backs 10 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, scaling operations and working capital.
- Hiring
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Growth rounds in Video and Audio Production within a year either side disclosed an amount; the median was $100M, and this round was 5.0 times the median. The closest in time, other companies' Growth rounds in Video and Audio Production:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Video and Audio Production | 13 Oct 2022 | $400M | $4.00B | KKR |
| Video and Audio Production | 26 Apr 2022 | $100M | not disclosed | Abry Partners |
| Video and Audio Production | 9 Mar 2022 | $225M | $2.50B | Stripes and Neuberger Berman |
| Video and Audio Production | 14 Mar 2022 | $80M | not disclosed | Paratus Investment |
| Video and Audio Production | 15 Feb 2023 | undisclosed | not disclosed | not named |
| Video and Audio Production | 21 Mar 2023 | $50M | not disclosed | MEP Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did North Road raise in its Growth round?
North Road raised $500M in its Growth round, announced in Jul 2022.
Who led North Road's Growth round?
Providence Equity led it.
What was North Road's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Video and Audio Production?
5 Growth rounds in Video and Audio Production within a year either side disclosed an amount; the median was $100M, and this round was 5.0 times the median.
Did North Road raise again after this round?
Yes: a Growth round in Jan 2023 of $150M at $1.00B post-money.