Funding round
Podium Series A
Podium, which works in AI-Powered lead generation solutions in Lehi, raised $32M in a Series A round announced on 9 May 2017, led by Accel. 4 firms took part, 1 of them already investors. It is Podium's first venture round on record.
$32M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Podium did not disclose a valuation in this round. It is Podium's first venture round on record, 3 years after it was founded in 2014. It is 7.7% of the $418M Podium has raised in the venture rounds on record. Podium raised again 13 months later: a Series B round of $60M in Jun 2018. Its next priced round, a Series C in Apr 2020, valued it at $1.50B.
Podium's funding rounds
Podium has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Accel led the round with 3 other firms. Y Combinator had backed Podium before.
Lead investor
- Accel backs 581 venture-backed companies new investor
Also in the round
- backs 96 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies existing 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
621 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.0M, and this round was 4.6 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Grammarly Tech Companies | 8 May 2017 | $110M | not disclosed | General Catalyst |
| Tech Companies | 5 May 2017 | $15M | not disclosed | Greylock Partners |
| Tech Companies | 4 May 2017 | $11M | not disclosed | not named |
| Tech Companies | 10 May 2017 | $10M | not disclosed | Marker Hill Capital |
| Tech Companies | 11 May 2017 | $10M | not disclosed | Atomico and Idinvest |
| Tech Companies | 9 May 2017 | $8.3M | not disclosed | Maverick Ventures |
| Tech Companies | 4 May 2017 | $7.5M | not disclosed | Finistere Ventures and Vertex Ventures |
| Tech Companies | 30 May 2017 | $7.0M | not disclosed | Lightspeed Venture Partners |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Podium raise in its Series A round?
Podium raised $32M in its Series A round, announced in May 2017.
Who led Podium's Series A round?
Accel led it, with Summit Partners, GV and Y Combinator.
What was Podium's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
621 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.0M, and this round was 4.6 times the median.
Did Podium raise again after this round?
Yes: a Series B round in Jun 2018 of $60M.