Funding round
OfficeRnD Series A
OfficeRnD, which works in flexible work solutions development in North Shields, raised $10M in a Series A round announced on 18 Oct 2021, led by Runa Capital. 3 firms took part. It is OfficeRnD's second venture round on record; the one before was a Seed in Nov 2017.
$10M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
OfficeRnD did not disclose a valuation in this round. It came 47 months after OfficeRnD's Seed. It is 91% of the $11M OfficeRnD has raised in the venture rounds on record. OfficeRnD raised again 24 months later: a Growth round in Oct 2023.
Investors
Who put money in
Runa Capital led the round with 2 other firms.
Lead investor
- backs 60 venture-backed companies new investor
Also in the round
- backs 20 venture-backed companies new investor
- LAUNCHub backs 36 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 working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,877 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 80% of the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Oct 2021 | $100M | $1.50B | Insight Partners and SoftBank Vision Fund |
| Tech Companies | 20 Oct 2021 | $100M | not disclosed | General Catalyst |
| Tech Companies | 29 Oct 2021 | $65M | $900M | General Catalyst and Ryan Smith |
| Tech Companies | 12 Oct 2021 | $65M | not disclosed | not named |
| Tech Companies | 8 Oct 2021 | $57M | not disclosed | Updata Partners |
| Tech Companies | 5 Oct 2021 | $50M | $417M | Greenoaks and SoftBank |
| Tech Companies | 12 Oct 2021 | $39M | not disclosed | Tiger Global and Canvas Prime |
| Tech Companies | 28 Oct 2021 | $33M | not disclosed | Norwest |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did OfficeRnD raise in its Series A round?
OfficeRnD raised $10M in its Series A round, announced in Oct 2021.
Who led OfficeRnD's Series A round?
Runa Capital led it, with Flashpoint and LAUNCHub.
What was OfficeRnD's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,877 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 80% of the median.
Did OfficeRnD raise again after this round?
Yes: a Growth round in Oct 2023.