Funding round
Perfect Day Series D
Perfect Day, which works in precision fermentation technology research and development in Berkeley, raised $350M in a Series D round announced on 30 Sep 2021, led by Temasek and Canada Pension Plan Investment Board, at a $1.50B post-money valuation. 4 firms took part. It is Perfect Day's third venture round on record; the one before was a Series C in Dec 2019.
$350M
Amount raised
$1.50B
Post-money valuation
4
Investors
2 leads
23%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Perfect Day at $1.50B after the new money. The $350M bought investors about 23% of the company. It came 21 months after Perfect Day's Series C. It is 58% of the $605M Perfect Day has raised in the venture rounds on record. Perfect Day raised again 28 months later: a Series E round of $90M in Jan 2024.
Perfect Day's funding rounds
Perfect Day has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Temasek and Canada Pension Plan Investment Board led the round with 2 other firms.
Lead investors
- Temasek backs 195 venture-backed companies new investor
- Canada Pension Plan Investment Board new investor
Also in the round
- backs 97 venture-backed companies new investor
- SK, Inc. new 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
The closest in time: 1 in Dairy Products - Farms & Stores, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dairy Products - Farms & Stores | 12 Sep 2022 | $108M | $615M | Venturi and Temasek |
| Fivetran Tech Companies | 20 Sep 2021 | $565M | $5.60B | Andreessen Horowitz |
| Commure Tech Companies | 16 Sep 2021 | $500M | $3.50B | Human Capital and Greenoaks Capital |
| Loans & Financing | 22 Sep 2021 | $400M | $2.00B | SoftBank Vision Fund and Warburg Pincus |
| Payment Processing & Point of Sale | 13 Sep 2021 | $250M | $4.00B | Thrive Capital and General Catalyst |
| CARSOME Automobile Dealers & Manufacturers | 1 Sep 2021 | $200M | $1.30B | not named |
| Industrial Machinery & Supplies | 15 Sep 2021 | $200M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 9 Sep 2021 | $195M | $1.00B | Redmile Group |
Sources
Where this comes from
Reported by 9 sources.
Questions
Frequently asked
How much did Perfect Day raise in its Series D round?
Perfect Day raised $350M in its Series D round, announced in Sep 2021.
Who led Perfect Day's Series D round?
Temasek and Canada Pension Plan Investment Board led it, with Horizons Ventures and SK, Inc..
What was Perfect Day's valuation at the Series D round?
$1.50B post-money.
Did Perfect Day raise again after this round?
Yes: a Series E round in Jan 2024 of $90M.