Funding round
Octane Series C
Octane, which works in powersports vehicle financing services in New York, raised $70M in a Series C round announced on 1 Nov 2019, led by Valar Ventures, at a $400M post-money valuation. 3 firms took part. It is Octane's fourth venture round on record; the one before was a Series B in Jan 2018.
$70M
Amount raised
$400M
Post-money valuation
$330M pre-money
3
Investors
1 lead
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Octane at $400M after the new money. The $70M bought investors about 18% of the company. It came 22 months after Octane's Series B. It is 22% of the $321M Octane has raised in the venture rounds on record. Octane raised again 21 months later: a Series D round of $52M in Aug 2021, at $900M 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 1 Jan 2018, led by Valar Ventures $41M
- Series C this round 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 2 other firms.
Lead investor
- Valar Ventures backs 56 venture-backed companies
Also in the round
- backs 46 venture-backed companies
- Citi Ventures
Comparable rounds
How it compares
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $36M, and this round was 1.9 times the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Kredivo Group Loans & Financing | 2 Dec 2019 | $90M | not disclosed | Asia Growth Capital Management and Square Peg |
| Loans & Financing | 28 Oct 2019 | $60M | not disclosed | Colchis Capital |
| Loans & Financing | 22 Oct 2019 | $48M | not disclosed | Square Peg and Airtree |
| Loans & Financing | 14 Oct 2019 | $23M | not disclosed | NH Investment & Securities |
| Loans & Financing | 9 Oct 2019 | $10M | not disclosed | Airtree |
| Fundbox Loans & Financing | 24 Sep 2019 | $176M | not disclosed | Allianz X and Healthcare of Ontario Pension Plan |
| Gojo Loans & Financing | 30 Sep 2019 | $40M | not disclosed | Dai-ichi Life Insurance Co., Ltd. |
| Loans & Financing | 22 Jan 2020 | $30M | not disclosed | Simcah Management LLC |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Octane raise in its Series C round?
Octane raised $70M in its Series C round, announced in Nov 2019.
Who led Octane's Series C round?
Valar Ventures led it, with Contour Venture Partners and Citi Ventures.
What was Octane's valuation at the Series C round?
$400M post-money ($330M pre-money).
How does it compare with other Series C rounds in Loans & Financing?
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $36M, and this round was 1.9 times the median.
Did Octane raise again after this round?
Yes: a Series D round in Aug 2021 of $52M at $900M post-money.