Funding round
Pipedrive Series B
Pipedrive, which works in sales pipeline management solutions in New York, raised $17M in a Series B round announced on 18 Jan 2017, led by Atomico. 3 firms took part, 2 of them already investors. It is Pipedrive's third venture round on record; the one before was a Series A in May 2015.
$17M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Pipedrive did not disclose a valuation in this round. It came 20 months after Pipedrive's Series A. It is 1.1% of the $1.58B Pipedrive has raised in the venture rounds on record. Pipedrive raised again 17 months later: a Series C round of $50M in Jun 2018.
Pipedrive's funding rounds
Pipedrive has 5 venture rounds on record. This one is highlighted.
- Seed 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 this round 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
Atomico led the round with 2 other firms. Bessemer Venture Partners and Rembrandt Venture Partners had backed Pipedrive before.
Lead investor
- Atomico backs 123 venture-backed companies new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
- Rembrandt Venture Partners existing investor
Joined the board: Teddie Wardi (Atomico) and Niklas Zennström (Atomico).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
328 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Jan 2017 | $165M | not disclosed | Insight Partners |
| Tech Companies | 26 Jan 2017 | $25M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 1 Jan 2017 | $22M | not disclosed | Carrick Capital Partners |
| Tech Companies | 31 Jan 2017 | $20M | not disclosed | General Catalyst |
| Tech Companies | 1 Jan 2017 | $19M | not disclosed | ZhenFund and ZhenCheng Capital |
| Tech Companies | 25 Jan 2017 | $16M | not disclosed | Northzone |
| Tech Companies | 18 Jan 2017 | $15M | not disclosed | CRV |
| Tech Companies | 9 Jan 2017 | $15M | not disclosed | CRV |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Pipedrive raise in its Series B round?
Pipedrive raised $17M in its Series B round, announced in Jan 2017.
Who led Pipedrive's Series B round?
Atomico led it, with Bessemer Venture Partners and Rembrandt Venture Partners.
What was Pipedrive's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
328 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was close to the median.
Did Pipedrive raise again after this round?
Yes: a Series C round in Jun 2018 of $50M.