Funding round
Octane Series E
Octane, which works in powersports vehicle financing services in New York, raised $50M in a Series E round announced on 6 Aug 2024, led by Valar Ventures, at a $1.10B post-money valuation. 2 firms took part, 2 of them already investors. It is Octane's sixth venture round on record; the one before was a Series D in Aug 2021.
$50M
Amount raised
$1.10B
Post-money valuation
2
Investors
1 lead
1.2x
Step-up from the Series D
$900M in Aug 2021
4.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Octane at $1.10B after the new money, 1.2 times the $900M of its Series D (Aug 2021). The $50M bought investors about 4.5% of the company. It came 36 months after Octane's Series D. It is 16% of the $321M Octane has raised in the venture rounds on record. Octane raised again 16 months later: a Series F round of $100M in Dec 2025, at $1.30B 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 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 this round 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 1 other firm. Valar Ventures and Upper90 had backed Octane before.
Lead investor
- Valar Ventures backs 56 venture-backed companies existing investor
Also in the round
- backs 23 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series E rounds in Loans & Financing within a year either side disclosed an amount; the median was $113M, and this round was 44% of the median. The closest in time, other companies' Series E rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 26 Jun 2024 | $1.22B | not disclosed | not named |
| Loans & Financing | 29 Oct 2024 | $135M | not disclosed | Avataar Venture Partners and Sofina |
| Loans & Financing | 6 Jun 2024 | $90M | not disclosed | TR Capital and Trifecta Capital |
| Loans & Financing | 11 Dec 2024 | $180M | $850M | Ontario Teachers’ Pension Plan and Prosus |
| Loans & Financing | 29 Jan 2025 | $65M | not disclosed | Apis Partners |
| Loans & Financing | 6 Dec 2023 | $10M | not disclosed | Encourage Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Octane raise in its Series E round?
Octane raised $50M in its Series E round, announced in Aug 2024.
Who led Octane's Series E round?
Valar Ventures led it, with Upper90.
What was Octane's valuation at the Series E round?
$1.10B post-money.
How does it compare with other Series E rounds in Loans & Financing?
6 Series E rounds in Loans & Financing within a year either side disclosed an amount; the median was $113M, and this round was 44% of the median.
Did Octane raise again after this round?
Yes: a Series F round in Dec 2025 of $100M at $1.30B post-money.