Funding round
Plume Growth
Reported as "Growth Equity"
Plume, which works in wifi network management services in Palo Alto, raised $300M in a Growth round announced on 12 Oct 2021, led by SoftBank Vision Fund, at a $2.60B post-money valuation. 14 firms took part. It is Plume's third venture round on record; the one before was a Series E in Feb 2021.
$300M
Amount raised
$2.60B
Post-money valuation
14
Investors
1 lead
1.9x
Step-up from the Series E
$1.35B in Feb 2021
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Plume at $2.60B after the new money, 1.9 times the $1.35B of its Series E (Feb 2021). The $300M bought investors about 12% of the company. It came 8 months after Plume's Series E. It is 46% of the $655M Plume has raised in the venture rounds on record. No later venture round is on record for Plume.
Investors
Who put money in
SoftBank Vision Fund led the round with 13 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Charter Communications new investor
- backs 73 venture-backed companies new investor
- Foxconn new investor
- Insight Partners backs 548 venture-backed companies new investor
- backs 29 venture-backed companies new investor
- Liberty Global Ventures new investor
- backs 37 venture-backed companies new investor
- Qualcomm Ventures backs 140 venture-backed companies new investor
- Samsung Venture Investment backs 126 venture-backed companies new investor
- Service Electric Cablevision new investor
- new investor
- Silicon Valley Bank new investor
- UpBeat Venture Partners new investor
Joined the board: Nagraj Kashyap (SoftBank Investment Advisers).
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
425 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Invicti Tech Companies | 20 Oct 2021 | $625M | not disclosed | Summit Partners |
| Tech Companies | 14 Oct 2021 | $298M | $3.00B | Tiger Global |
| Tech Companies | 8 Oct 2021 | $275M | $10.00B | Sequoia Capital and Coatue |
| Tech Companies | 6 Oct 2021 | $225M | $2.00B | Knox Lane |
| Tech Companies | 21 Oct 2021 | $200M | not disclosed | Sumeru Equity Partners and SoftBank Vision Fund |
| Cato Networks Tech Companies | 19 Oct 2021 | $200M | $2.50B | Lightspeed Venture Partners |
| Tech Companies | 26 Oct 2021 | $135M | not disclosed | K1 Investment Management |
| Tech Companies | 1 Oct 2021 | $125M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Plume raise in its Growth round?
Plume raised $300M in its Growth round, announced in Oct 2021.
Who led Plume's Growth round?
SoftBank Vision Fund led it, with Charter Communications, Comcast Ventures, Foxconn, Insight Partners and Jackson Square Ventures and 8 more.
What was Plume's valuation at the Growth round?
$2.60B post-money.
How does it compare with other Growth rounds in Tech Companies?
425 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median.