Funding round
Octane Series A
Octane, which works in powersports vehicle financing services in New York, raised $6.3M in a Series A round announced on 3 Aug 2016, led by IA Ventures and Berenson & Company. 7 firms took part. It is Octane's second venture round on record; the one before was a Seed in Jan 2014.
$6.3M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Octane did not disclose a valuation in this round. It came 31 months after Octane's Seed. It is 2.0% of the $321M Octane has raised in the venture rounds on record. Octane raised again 17 months later: a Series B round of $41M in Jan 2018. Its next priced round, a Series C in Nov 2019, valued it at $400M.
Octane's funding rounds
Octane has 7 venture rounds on record and 8 other deals. This one is highlighted.
- Seed 1 Jan 2014 $1.5M
- Series A this round 3 Aug 2016, led by IA Ventures and Berenson & Company $6.3M
- Series B 1 Jan 2018, led by Valar Ventures $41M
- Series C 1 Nov 2019, led by Valar Ventures $70M$400M post-money
- Series D 5 Aug 2021, led by Progressive Investment Company, Inc. and Valar Ventures $52M$900M post-money
- Debt not a venture round 10 Nov 2021, led by J.P. Morgan $340M
- Series E 6 Aug 2024, led by Valar Ventures $50M$1.10B post-money
- Debt not a venture round 6 May 2025 $200M
- Debt not a venture round 1 Oct 2025 $284M
- Debt not a venture round 2 Dec 2025 $219M
- Series F 15 Dec 2025, led by Valar Ventures $100M$1.30B post-money
- Debt not a venture round 20 May 2026, led by Nuveen $350M
- Debt not a venture round 15 Jul 2026 $750M
- Debt not a venture round 6 Aug 2026 $337M
- Debt not a venture round 6 Oct 2026, led by New York Life Investment Management and MetLife Investment Management $1.40B
Investors
Who put money in
IA Ventures and Berenson & Company led the round with 5 other firms.
Lead investors
- backs 33 venture-backed companies new investor
- new investor
Also in the round
- backs 46 venture-backed companies new investor
- backs 29 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- backs 107 venture-backed companies new investor
- backs 46 venture-backed companies new investor
Comparable rounds
How it compares
24 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.3 times the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Funding Societies Loans & Financing | 11 Aug 2016 | $7.5M | not disclosed | Sequoia India |
| Loans & Financing | 29 Aug 2016 | $3.0M | not disclosed | not named |
| Loans & Financing | 11 Jul 2016 | $18M | not disclosed | Union Square Ventures |
| Loans & Financing | 9 Sep 2016 | $1.9M | not disclosed | East Ventures |
| Loans & Financing | 26 Oct 2016 | $6.3M | not disclosed | Sequoia India |
| MPOWER Financing Loans & Financing | 27 Oct 2016 | $6.0M | not disclosed | Zephyr Management |
| Loans & Financing | 17 Oct 2016 | $3.5M | not disclosed | not named |
| Loans & Financing | 1 Jun 2016 | undisclosed | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Octane raise in its Series A round?
Octane raised $6.3M in its Series A round, announced in Aug 2016.
Who led Octane's Series A round?
IA Ventures and Berenson & Company led it, with Contour Venture Partners, Dreamit Ventures, FinTech Collective, FundersClub and Third Prime.
What was Octane's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
24 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.3 times the median.
Did Octane raise again after this round?
Yes: a Series B round in Jan 2018 of $41M.