Funding round
Octane Series B
Octane, which works in powersports vehicle financing services in New York, raised $41M in a Series B round announced on 1 Jan 2018, led by Valar Ventures. 4 firms took part. It is Octane's third venture round on record; the one before was a Series A in Aug 2016.
$41M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Octane did not disclose a valuation in this round. It came 17 months after Octane's Series A. It is 13% of the $321M Octane has raised in the venture rounds on record. Octane raised again 22 months later: a Series C round of $70M in Nov 2019, at $400M post-money.
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 3 Aug 2016, led by IA Ventures and Berenson & Company $6.3M
- Series B this round 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
Valar Ventures led the round with 3 other firms.
Lead investor
- Valar Ventures backs 56 venture-backed companies
Also in the round
- backs 23 venture-backed companies
- Citi Ventures
- backs 91 venture-backed companies
Comparable rounds
How it compares
26 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $19M, and this round was 2.2 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 4 Jan 2018 | $16M | not disclosed | Eight Roads |
| Loans & Financing | 13 Dec 2017 | $19M | not disclosed | British International Investment |
| Loans & Financing | 28 Mar 2018 | $70M | not disclosed | Trinity Ventures |
| Loans & Financing | 5 Apr 2018 | $30M | not disclosed | World Innovation Lab |
| Funding Societies Loans & Financing | 18 Apr 2018 | $25M | not disclosed | SoftBank Ventures Asia |
| Loans & Financing | 20 Apr 2018 | $23M | not disclosed | SoftBank Ventures Asia |
| Loans & Financing | 10 Oct 2017 | $15M | not disclosed | Vulcan Capital |
| Loans & Financing | 13 Oct 2017 | $14M | not disclosed | Tengelmann Ventures |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Octane raise in its Series B round?
Octane raised $41M in its Series B round, announced in Jan 2018.
Who led Octane's Series B round?
Valar Ventures led it, with Upper90, Citi Ventures and Jump Capital.
What was Octane's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
26 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $19M, and this round was 2.2 times the median.
Did Octane raise again after this round?
Yes: a Series C round in Nov 2019 of $70M at $400M post-money.