Funding round
OfBusiness Series D
OfBusiness, which works in raw materials procurement and distribution in Ahmedabad, raised $35M in a Series D round announced on 25 Sep 2019, led by Norwest. 3 firms took part, 2 of them already investors. It is OfBusiness' second venture round on record; the one before was a Series C in Jul 2018.
$35M
Amount raised
2,500,000,000 INR converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
OfBusiness did not disclose a valuation in this round. It came 14 months after OfBusiness' Series C. It is 8.0% of the $436M OfBusiness has raised in the venture rounds on record. OfBusiness raised again 22 months later: a Series E round of $160M in Jul 2021, at $1.50B post-money.
OfBusiness' funding rounds
OfBusiness has 5 venture rounds on record. This one is highlighted.
- Series C 18 Jul 2018, led by Creation Investments and Falcon Edge $29M
- Series D this round 25 Sep 2019, led by Norwest $35M
- Series E 31 Jul 2021, led by SoftBank Vision Fund $160M$1.50B post-money
- Series F 1 Oct 2021, led by Tiger Global $200M$3.00B post-money
- Growth 15 Apr 2025, led by Cornerstone Ventures $12M
Investors
Who put money in
Norwest led the round with 2 other firms. Matrix and Falcon Edge had backed OfBusiness before.
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Chemicals, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 16 Jun 2020 | $102M | not disclosed | Morningside Ventures |
| Automattic Tech Companies | 19 Sep 2019 | $300M | $3.00B | Salesforce Ventures |
| Clio Tech Companies | 4 Sep 2019 | $250M | not disclosed | Technology Crossover Ventures and JMI Equity |
| Automobile Dealers & Manufacturers | 3 Sep 2019 | $250M | not disclosed | CNH Industrial N.V. |
| QuintoAndar Real Estate - Agents & Managers | 9 Sep 2019 | $250M | $1.00B | SoftBank |
| Checkr Detectives & Investigation Services | 18 Sep 2019 | $160M | $2.20B | T. Rowe Price Associates, Inc. |
| Rebel Foods Tech Companies | 23 Sep 2019 | $125M | $525M | Sequoia Capital and Sequoia Capital India |
| Furniture Stores | 17 Sep 2019 | $110M | not disclosed | SoftBank |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did OfBusiness raise in its Series D round?
OfBusiness raised $35M in its Series D round, announced in Sep 2019.
Who led OfBusiness' Series D round?
Norwest led it, with Matrix and Falcon Edge.
What was OfBusiness' valuation at the Series D round?
It was not disclosed.
Did OfBusiness raise again after this round?
Yes: a Series E round in Jul 2021 of $160M at $1.50B post-money.