Funding round
Podium Series C
Podium, which works in AI-Powered lead generation solutions in Lehi, raised $125M in a Series C round announced on 7 Apr 2020, led by Y Combinator, at a $1.50B post-money valuation. 8 firms took part. It is Podium's third venture round on record; the one before was a Series B in Jun 2018.
$125M
Amount raised
$1.50B
Post-money valuation
$1.38B pre-money
8
Investors
1 lead
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Podium at $1.50B after the new money. The $125M bought investors about 8.3% of the company. It came 22 months after Podium's Series B. It is 30% of the $418M Podium has raised in the venture rounds on record. Podium raised again 19 months later: a Series D round of $201M in Nov 2021, at $3.00B post-money.
Podium's funding rounds
Podium has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Y Combinator led the round with 7 other firms.
Lead investor
- Y Combinator backs 1,295 venture-backed companies new investor
Also in the round
- Sapphire Ventures backs 148 venture-backed companies new investor
- Alkeon backs 51 venture-backed companies new investor
- Recruit Co., Ltd. new investor
- Institutional Venture Partners backs 109 venture-backed companies new investor
- Accel backs 581 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
304 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 2.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 15 Apr 2020 | $145M | not disclosed | Bain Capital Tech Opportunities |
| Attentive Tech Companies | 15 Apr 2020 | $40M | not disclosed | not named |
| Tech Companies | 16 Apr 2020 | $35M | not disclosed | Intel Capital |
| Tech Companies | 29 Apr 2020 | $35M | not disclosed | Radian Capital |
| Tech Companies | 20 Apr 2020 | $30M | not disclosed | Sapphire Ventures |
| Tech Companies | 21 Apr 2020 | $30M | not disclosed | Accel |
| Tech Companies | 7 Apr 2020 | $30M | not disclosed | D1 Capital Partners |
| Tech Companies | 8 Apr 2020 | $25M | not disclosed | Delta-v |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Podium raise in its Series C round?
Podium raised $125M in its Series C round, announced in Apr 2020.
Who led Podium's Series C round?
Y Combinator led it, with Sapphire Ventures, Alkeon, Recruit Co., Ltd., Institutional Venture Partners and Accel and 2 more.
What was Podium's valuation at the Series C round?
$1.50B post-money ($1.38B pre-money).
How does it compare with other Series C rounds in Tech Companies?
304 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 2.8 times the median.
Did Podium raise again after this round?
Yes: a Series D round in Nov 2021 of $201M at $3.00B post-money.