Funding round
Ola Corporate Growth
Reported as "Growth Equity"
Ola Corporate, which works in corporate travel management services in India, raised $1.10B in a Growth round announced on 11 Oct 2017, led by Tencent, at a $7.00B post-money valuation. 2 firms took part, 1 of them already investors. It is Ola Corporate's fourth venture round on record; the one before was a Series F in Nov 2015.
$1.10B
Amount raised
$7.00B
Post-money valuation
$5.90B pre-money
2
Investors
1 lead
1.4x
Step-up from the Series F
$5.00B in Nov 2015
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ola Corporate at $7.00B after the new money, 1.4 times the $5.00B of its Series F (Nov 2015). The $1.10B bought investors about 16% of the company. It came 23 months after Ola Corporate's Series F. It is 44% of the $2.49B Ola Corporate has raised in the venture rounds on record. Ola Corporate raised again 45 months later: a Growth round of $500M in Jul 2021. Its next priced round, a Series H+ in Dec 2021, valued it at $7.30B.
Ola Corporate's funding rounds
Ola Corporate has 6 venture rounds on record. This one is highlighted.
- Series C 11 Jul 2014, led by Steadview Capital $42M$167M post-money
- Series D 27 Oct 2014, led by SoftBank $210M$1.00B post-money
- Series F 18 Nov 2015, led by Baillie Gifford $500M$5.00B post-money
- Growth this round 11 Oct 2017, led by Tencent $1.10B$7.00B post-money
- Growth 9 Jul 2021 $500M
- Series H+ 8 Dec 2021, led by Edelweiss Finance $139M$7.30B post-money
Investors
Who put money in
Tencent led the round with 1 other firm. SoftBank had backed Ola Corporate before.
Lead investor
- Tencent new investor
Also in the round
- SoftBank 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
The closest in time: 1 in Ridesharing, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bolt Ridesharing | 30 May 2018 | $175M | $1.00B | Daimler |
| SIGNA Real Estate Rental | 3 Oct 2017 | $1.17B | not disclosed | not named |
| OakNorth Bank Banks & ATMs | 8 Oct 2017 | $202M | $1.22B | not named |
| Biotechnology | 2 Oct 2017 | $76M | not disclosed | Flagship Pioneering |
| Tech Companies | 31 Oct 2017 | $47M | not disclosed | not named |
| Financial Services | 25 Oct 2017 | $42M | not disclosed | not named |
| Tech Companies | 25 Oct 2017 | $42M | not disclosed | Mainsail Partners |
| Tech Companies | 24 Oct 2017 | $36M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ola Corporate raise in its Growth round?
Ola Corporate raised $1.10B in its Growth round, announced in Oct 2017.
Who led Ola Corporate's Growth round?
Tencent led it, with SoftBank.
What was Ola Corporate's valuation at the Growth round?
$7.00B post-money ($5.90B pre-money).
Did Ola Corporate raise again after this round?
Yes: a Growth round in Jul 2021 of $500M.