Funding round
Ondato Seed
Ondato, which works in digital identity verification solutions in London, raised $4.2M in a Seed round announced on 26 Oct 2021, led by OTB Ventures and Startup Wise Guys. 3 firms took part. It is Ondato's second venture round on record; the one before was a Pre-seed in Jun 2020.
$4.2M
Amount raised
3,600,000 EUR converted
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Ondato did not disclose a valuation in this round. It came 16 months after Ondato's Pre-seed. It is 89% of the $4.7M Ondato has raised in the venture rounds on record. No later venture round is on record for Ondato.
Ondato's funding rounds
Ondato has 2 venture rounds on record. This one is highlighted.
- Pre-seed 5 Jun 2020, led by Startup Wise Guys $510K
- Seed this round 26 Oct 2021, led by OTB Ventures and Startup Wise Guys $4.2M
Investors
Who put money in
OTB Ventures and Startup Wise Guys led the round with 1 other firm.
Lead investors
- OTB Ventures backs 27 venture-backed companies new investor
- backs 30 venture-backed companies new investor
Also in the round
- backs 3 venture-backed companies new investor
Joined the board: Šarūnas Šiugžda (LitCapital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
2,444 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.1M, and this round was 1.3 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 24 Oct 2021 | $109M | $1.55B | not named |
| Tech Companies | 19 Oct 2021 | $22M | not disclosed | Group 11 |
| Tech Companies | 1 Oct 2021 | $15M | not disclosed | not named |
| Tech Companies | 10 Oct 2021 | $14M | not disclosed | Sequoia Capital India |
| Tech Companies | 28 Oct 2021 | $13M | not disclosed | EQT Ventures |
| Multiverse Computing Tech Companies | 22 Oct 2021 | $12M | not disclosed | JME Ventures |
| Tech Companies | 5 Oct 2021 | $9.3M | not disclosed | M12 |
| Tech Companies | 6 Oct 2021 | $9.0M | not disclosed | Pioneer Square Labs |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ondato raise in its Seed round?
Ondato raised $4.2M in its Seed round, announced in Oct 2021.
Who led Ondato's Seed round?
OTB Ventures and Startup Wise Guys led it, with LitCapital.
What was Ondato's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
2,444 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.1M, and this round was 1.3 times the median.