Funding round
PlusAI Bridge
PlusAI, which works in autonomous driving solutions development in Santa Clara, raised $220M in a Bridge round announced on 1 Apr 2021, led by ClearVue Partners and FountainVest. 7 firms took part.
$220M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
PlusAI did not disclose a valuation in this round. It is PlusAI's first venture round on record, 5 years after it was founded in 2016. No later venture round is on record for PlusAI.
PlusAI's funding rounds
This is the only venture round on record for PlusAI.
- Bridge this round 1 Apr 2021, led by ClearVue Partners and FountainVest $220M
- Other not a venture round 3 Sep 2026 $300M
Investors
Who put money in
ClearVue Partners and FountainVest led the round with 5 other firms.
Lead investors
- ClearVue Partners new investor
- backs 4 venture-backed companies new investor
Also in the round
- Full Truck Alliance new investor
- HSG backs 118 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- Quanta Computer new investor
- backs 17 venture-backed companies new investor
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
20 Bridge rounds in Tech Companies within a year either side disclosed an amount; the median was $3.3M, and this round was 67 times the median. The closest in time, other companies' Bridge rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Mar 2021 | $6.0M | not disclosed | Autotech Ventures |
| Tech Companies | 3 May 2021 | $2.3M | not disclosed | Adjacent and Sony Innovation Fund |
| Tech Companies | 21 Jun 2021 | $44M | not disclosed | not named |
| Tech Companies | 19 Jul 2021 | $6.0M | not disclosed | FUSE |
| Tech Companies | 29 Dec 2020 | $6.7M | not disclosed | not named |
| Tech Companies | 8 Sep 2021 | $11M | not disclosed | Liberty Global Ventures |
| Tech Companies | 21 Oct 2020 | $600K | not disclosed | SOSV and Artesian |
| Tech Companies | 25 Nov 2021 | undisclosed | not disclosed | Real Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did PlusAI raise in its Bridge round?
PlusAI raised $220M in its Bridge round, announced in Apr 2021.
Who led PlusAI's Bridge round?
ClearVue Partners and FountainVest led it, with Full Truck Alliance, HSG, Millennium Technology Value Partners, Quanta Computer and SAIC Capital.
What was PlusAI's valuation at the Bridge round?
It was not disclosed.
How does it compare with other Bridge rounds in Tech Companies?
20 Bridge rounds in Tech Companies within a year either side disclosed an amount; the median was $3.3M, and this round was 67 times the median.