Funding round
Plume Series E
Plume, which works in wifi network management services in Palo Alto, raised $270M in a Series E round announced on 23 Feb 2021, led by Insight Partners, at a $1.35B post-money valuation. 1 firm took part, 1 of them already investors. It is Plume's second venture round on record; the one before was a Series D in Feb 2020.
$270M
Amount raised
$1.35B
Post-money valuation
1
Investors
1 lead
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Plume at $1.35B after the new money. The $270M bought investors about 20% of the company. It came 12 months after Plume's Series D. It is 41% of the $655M Plume has raised in the venture rounds on record. Plume raised again 8 months later: a Growth round of $300M in Oct 2021, at $2.60B post-money.
Investors
Who put money in
Insight Partners led the round. Insight Partners had backed Plume before.
Lead investor
- Insight Partners backs 548 venture-backed companies existing investor
Joined the board: Ryan Hinkle (Insight Partners).
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
116 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 2.0 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automattic Tech Companies | 1 Feb 2021 | $288M | $7.50B | Alta Park Capital Partners |
| Highspot Tech Companies | 22 Feb 2021 | $200M | $2.30B | Tiger Global Management |
| Tech Companies | 4 Feb 2021 | $130M | $500M | Georgian |
| Tech Companies | 23 Feb 2021 | $105M | not disclosed | Silver Lake Waterman |
| Tech Companies | 4 Feb 2021 | $50M | not disclosed | Energize Capital and Airtree |
| Tech Companies | 26 Feb 2021 | $11M | not disclosed | Singha Ventures and Square Peg |
| Attentive Tech Companies | 9 Mar 2021 | $470M | $7.00B | not named |
| Tech Companies | 16 Mar 2021 | $300M | $1.00B | SoftBank Vision Fund and Tencent Investment |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Plume raise in its Series E round?
Plume raised $270M in its Series E round, announced in Feb 2021.
Who led Plume's Series E round?
Insight Partners led it.
What was Plume's valuation at the Series E round?
$1.35B post-money.
How does it compare with other Series E rounds in Tech Companies?
116 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 2.0 times the median.
Did Plume raise again after this round?
Yes: a Growth round in Oct 2021 of $300M at $2.60B post-money.