Funding round
Plaid Seed
Plaid, which works in financial data connectivity solutions in San Francisco, raised $2.8M in a Seed round announced on 19 Sep 2013, led by Spark Capital. 5 firms took part. It is Plaid's first venture round on record.
$2.8M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Plaid did not disclose a valuation in this round. It is Plaid's first venture round on record, in the year it was founded (2013). It is under 1% of the $1.30B Plaid has raised in the venture rounds on record. Plaid raised again 33 months later: a Series B round of $44M in Jun 2016. Its next priced round, a Series C in Dec 2018, valued it at $2.65B.
Plaid's funding rounds
Plaid has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed this round 19 Sep 2013, led by Spark Capital $2.8M
- Series B 20 Jun 2016, led by Goldman Sachs $44M
- Series C 11 Dec 2018, led by Kleiner Perkins $250M$2.65B post-money
- Acquisition not a venture round 13 Jan 2020, led by Visa Inc. $5.30B
- Series D 7 Apr 2021, led by Altimeter, Silver Lake and Ribbit $425M$13.40B post-money
- Growth 3 Apr 2025, led by Franklin Templeton, Fidelity Management and Research and BlackRock $575M$6.10B post-money
Investors
Who put money in
Spark Capital led the round with 4 other firms.
Lead investor
- Spark Capital backs 234 venture-backed companies new investor
Also in the round
- GV backs 428 venture-backed companies new investor
- New Enterprise Associates backs 286 venture-backed companies new investor
- Felicis backs 237 venture-backed companies new investor
- backs 82 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $1.6M, and this round was 1.7 times the median. The closest in time, other companies' Seed rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 30 Sep 2013 | $1.0M | not disclosed | eVentures |
| Payment Processing & Point of Sale | 2 Oct 2013 | $1.6M | not disclosed | ff Venture Capital |
| Payment Processing & Point of Sale | 19 Aug 2013 | $1.2M | not disclosed | not named |
| Payment Processing & Point of Sale | 14 Nov 2013 | $4.5M | not disclosed | Relay Ventures |
| Payment Processing & Point of Sale | 13 Nov 2013 | $2.6M | not disclosed | not named |
| Payment Processing & Point of Sale | 1 Jul 2013 | $1.3M | not disclosed | Wavemaker Partners |
| Payment Processing & Point of Sale | 16 May 2013 | $2.0M | not disclosed | Founders Fund |
| Payment Processing & Point of Sale | 4 Feb 2014 | $1.1M | not disclosed | Real Ventures |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Plaid raise in its Seed round?
Plaid raised $2.8M in its Seed round, announced in Sep 2013.
Who led Plaid's Seed round?
Spark Capital led it, with GV, New Enterprise Associates, Felicis and Homebrew.
What was Plaid's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Payment Processing & Point of Sale?
16 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $1.6M, and this round was 1.7 times the median.
Did Plaid raise again after this round?
Yes: a Series B round in Jun 2016 of $44M.