Funding round
Pipedrive Series C
Pipedrive, which works in sales pipeline management solutions in New York, raised $50M in a Series C round announced on 14 Jun 2018, led by Insight Partners and Bessemer Venture Partners. 4 firms took part, 3 of them already investors. It is Pipedrive's fourth venture round on record; the one before was a Series B in Jan 2017.
$50M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Pipedrive did not disclose a valuation in this round. It came 17 months after Pipedrive's Series B. It is 3.2% of the $1.58B Pipedrive has raised in the venture rounds on record. Pipedrive raised again 23 months later: a Growth round of $1.50B in May 2020.
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 18 Jan 2017, led by Atomico $17M
- Series C this round 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
Insight Partners and Bessemer Venture Partners led the round with 2 other firms. Bessemer Venture Partners, Rembrandt Venture Partners and Atomico had backed Pipedrive before.
Lead investors
- Insight Partners backs 548 venture-backed companies new investor
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
Also in the round
- Rembrandt Venture Partners existing investor
- Atomico backs 123 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
213 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 1.4 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ant Group Tech Companies | 11 Jun 2018 | $14.00B | $150.00B | not named |
| Tech Companies | 6 Jun 2018 | $70M | not disclosed | Georgian |
| Devo Tech Companies | 7 Jun 2018 | $25M | not disclosed | Insight Partners |
| Tech Companies | 26 Jun 2018 | $25M | not disclosed | Energize Capital |
| Tech Companies | 20 Jun 2018 | $19M | not disclosed | Insight Partners |
| Gusto Tech Companies | 31 Jul 2018 | $140M | $2.00B | T. Rowe Price Associates and MSD Capital |
| Tech Companies | 11 May 2018 | $100M | not disclosed | China Electronics Health Fund |
| Tech Companies | 9 May 2018 | $55M | not disclosed | Temasek |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Pipedrive raise in its Series C round?
Pipedrive raised $50M in its Series C round, announced in Jun 2018.
Who led Pipedrive's Series C round?
Insight Partners and Bessemer Venture Partners led it, with Rembrandt Venture Partners and Atomico.
What was Pipedrive's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
213 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 1.4 times the median.
Did Pipedrive raise again after this round?
Yes: a Growth round in May 2020 of $1.50B.