Funding round
Peregrine Series B
Peregrine, which works in data integration platform development in San Francisco, raised $30M in a Series B round announced on 1 May 2024, led by Friends & Family Capital and Fifth Down Capital. 5 firms took part, 3 of them already investors. It is Peregrine's first venture round on record.
$30M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Peregrine did not disclose a valuation in this round. It is Peregrine's first venture round on record, 6 years after it was founded in 2018. It is 6.4% of the $470M Peregrine has raised in the venture rounds on record. Peregrine raised again 10 months later: a Series C round of $190M in Mar 2025, at $2.50B post-money.
Peregrine's funding rounds
Peregrine has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Friends & Family Capital and Fifth Down Capital led the round with 3 other firms. Goldcrest Capital, Craft Ventures and Godfrey Capital had backed Peregrine before.
Lead investors
- backs 28 venture-backed companies new investor
- backs 15 venture-backed companies new investor
Also in the round
- Goldcrest Capital existing investor
- Craft Ventures backs 197 venture-backed companies existing investor
- Godfrey Capital existing investor
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
46 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was close to the median. The closest in time, other companies' Series B rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 13 May 2024 | $32M | not disclosed | Nordstar and Bank of Georgia |
| Software Development Services | 2 May 2024 | undisclosed | not disclosed | Openspace Capital |
| Mistral AI Software Development Services | 11 Jun 2024 | $644M | $6.20B | General Catalyst |
| Software Development Services | 2 Apr 2024 | $40M | $100M | March Capital |
| Software Development Services | 10 Apr 2024 | $29M | not disclosed | Nordstjernan Growth |
| Software Development Services | 30 Apr 2024 | $17M | not disclosed | LFX Ventures |
| Software Development Services | 2 Jun 2024 | $13M | not disclosed | not named |
| Software Development Services | 4 Jun 2024 | $10M | not disclosed | FM Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Peregrine raise in its Series B round?
Peregrine raised $30M in its Series B round, announced in May 2024.
Who led Peregrine's Series B round?
Friends & Family Capital and Fifth Down Capital led it, with Goldcrest Capital, Craft Ventures and Godfrey Capital.
What was Peregrine's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Software Development Services?
46 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was close to the median.
Did Peregrine raise again after this round?
Yes: a Series C round in Mar 2025 of $190M at $2.50B post-money.