Funding round
Pipedrive Seed
Pipedrive, which works in sales pipeline management solutions in New York, raised $3.4M in a Seed round announced on 18 Sep 2013, led by Rembrandt Venture Partners and Storm Ventures. 3 firms took part. It is Pipedrive's first venture round on record.
$3.4M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Pipedrive did not disclose a valuation in this round. It is Pipedrive's first venture round on record, 3 years after it was founded in 2010. It is under 1% of the $1.58B Pipedrive has raised in the venture rounds on record. Pipedrive raised again 20 months later: a Series A round of $9.0M in May 2015.
Pipedrive's funding rounds
Pipedrive has 5 venture rounds on record. This one is highlighted.
- Seed this round 18 Sep 2013, led by Rembrandt Venture Partners and Storm Ventures $3.4M
- Series A 14 May 2015, led by Bessemer Venture Partners $9.0M
- Series B 18 Jan 2017, led by Atomico $17M
- Series C 14 Jun 2018, led by Insight Partners and Bessemer Venture Partners $50M
- Growth 18 May 2020, led by Vista Equity Partners $1.50B
Investors
Who put money in
Rembrandt Venture Partners and Storm Ventures led the round with 1 other firm.
Lead investors
- Rembrandt Venture Partners
- backs 68 venture-backed companies
Also in the round
- TMT Investments
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
225 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.3M, and this round was 2.6 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 27 Sep 2013 | $7.5M | not disclosed | New Enterprise Associates |
| Tech Companies | 1 Sep 2013 | $2.0M | not disclosed | not named |
| Tech Companies | 26 Sep 2013 | $2.0M | not disclosed | Founder Collective and Venrock |
| Tech Companies | 24 Sep 2013 | $2.0M | not disclosed | not named |
| Tech Companies | 17 Sep 2013 | $1.6M | not disclosed | Flybridge and Baseline Ventures |
| Tech Companies | 4 Sep 2013 | $1.6M | not disclosed | not named |
| Tech Companies | 27 Sep 2013 | $1.3M | not disclosed | not named |
| Tech Companies | 11 Sep 2013 | $1.2M | not disclosed | MissionOG and Gabriel Investment Syndicate |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Pipedrive raise in its Seed round?
Pipedrive raised $3.4M in its Seed round, announced in Sep 2013.
Who led Pipedrive's Seed round?
Rembrandt Venture Partners and Storm Ventures led it, with TMT Investments.
What was Pipedrive's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
225 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.3M, and this round was 2.6 times the median.
Did Pipedrive raise again after this round?
Yes: a Series A round in May 2015 of $9.0M.