Funding round
Podium Series B
Podium, which works in AI-Powered lead generation solutions in Lehi, raised $60M in a Series B round announced on 7 Jun 2018, led by Institutional Venture Partners and Institutional Venture Partners. 15 firms took part. It is Podium's second venture round on record; the one before was a Series A in May 2017.
$60M
Amount raised
Not disclosed
Post-money valuation
15
Investors
2 leads
Valuation
What this round says about the price
Podium did not disclose a valuation in this round. It came 13 months after Podium's Series A. It is 14% of the $418M Podium has raised in the venture rounds on record. Podium raised again 22 months later: a Series C round of $125M in Apr 2020, at $1.50B post-money.
Podium's funding rounds
Podium has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Institutional Venture Partners and Institutional Venture Partners led the round with 13 other firms.
Lead investors
- Institutional Venture Partners new investor
- Institutional Venture Partners backs 109 venture-backed companies
Also in the round
- Accel backs 581 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- backs 35 venture-backed companies
- backs 96 venture-backed companies
- FirstMark backs 128 venture-backed companies
- backs 7 venture-backed companies
- Mango Capital
- backs 108 venture-backed companies
- backs 72 venture-backed companies
- Sapphire Ventures backs 148 venture-backed companies
- Testmunk
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
453 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 3.0 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Celonis Tech Companies | 26 Jun 2018 | $50M | $1.00B | Accel and 83North |
| Tech Companies | 19 Jun 2018 | $43M | not disclosed | Sageview Capital |
| Tech Companies | 25 Jun 2018 | $36M | not disclosed | Kinnevik |
| Tech Companies | 25 Jun 2018 | $30M | not disclosed | Scale Venture Partners |
| Tech Companies | 20 Jun 2018 | $28M | not disclosed | EQT Ventures and M12 |
| Tech Companies | 15 Jun 2018 | $26M | not disclosed | Redpoint Ventures |
| Tech Companies | 28 Jun 2018 | $25M | not disclosed | Insight Partners |
| Tech Companies | 28 Jun 2018 | $25M | not disclosed | Menlo Ventures |
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 B round?
Podium raised $60M in its Series B round, announced in Jun 2018.
Who led Podium's Series B round?
Institutional Venture Partners and Institutional Venture Partners led it, with Accel, Summit Partners, GV, Y Combinator and Album VC and 8 more.
What was Podium's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
453 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 3.0 times the median.
Did Podium raise again after this round?
Yes: a Series C round in Apr 2020 of $125M at $1.50B post-money.