Funding round
OfBusiness Series E
OfBusiness, which works in raw materials procurement and distribution in Ahmedabad, raised $160M in a Series E round announced on 31 Jul 2021, led by SoftBank Vision Fund, at a $1.50B post-money valuation. 3 firms took part. It is OfBusiness' third venture round on record; the one before was a Series D in Sep 2019.
$160M
Amount raised
$1.50B
Post-money valuation
$1.34B pre-money
3
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced OfBusiness at $1.50B after the new money. The $160M bought investors about 11% of the company. It came 22 months after OfBusiness' Series D. It is 37% of the $436M OfBusiness has raised in the venture rounds on record. OfBusiness raised again 3 months later: a Series F round of $200M in Oct 2021, at $3.00B 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 25 Sep 2019, led by Norwest $35M
- Series E this round 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
SoftBank Vision Fund led the round with 2 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Alpha Wave Global backs 78 venture-backed companies new investor
- Matrix backs 129 venture-backed companies new 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 acquisitions.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Revolut Banks & ATMs | 15 Jul 2021 | $800M | $33.00B | SoftBank Vision Fund and Tiger Global |
| Investment Consultants & Financial Advisors | 14 Jul 2021 | $150M | $1.45B | SoftBank Vision Fund |
| Tech Companies | 20 Jul 2021 | $110M | $1.50B | Silver Lake Waterman |
| Business and HR Consulting | 20 Jul 2021 | $103M | $590M | Insight Partners |
| Tech Companies | 12 Jul 2021 | $101M | not disclosed | The Spruce House Partnership and Tiger Global |
| Tech Companies | 13 Jul 2021 | $100M | $1.00B | SoftBank Vision Fund |
| Cosmetics Stores | 7 Jul 2021 | $80M | $1.80B | Lone Pine Capital |
| Tech Companies | 12 Jul 2021 | $77M | not disclosed | IDG Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did OfBusiness raise in its Series E round?
OfBusiness raised $160M in its Series E round, announced in Jul 2021.
Who led OfBusiness' Series E round?
SoftBank Vision Fund led it, with Alpha Wave Global and Matrix.
What was OfBusiness' valuation at the Series E round?
$1.50B post-money ($1.34B pre-money).
Did OfBusiness raise again after this round?
Yes: a Series F round in Oct 2021 of $200M at $3.00B post-money.