Funding round
Point Series C
Point, which works in home equity investment services in Palo Alto, raised $115M in a Series C round announced on 3 May 2022, led by WestCap. 9 firms took part, 6 of them already investors. It is Point's second venture round on record; the one before was a Series B in Sep 2021.
$115M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Point did not disclose a valuation in this round. It came 8 months after Point's Series B. It is 71% of the $162M Point has raised in the venture rounds on record. No later venture round is on record for Point.
Point's funding rounds
Point has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series B 2 Sep 2021, led by Valar Ventures $47M
- Series C this round 3 May 2022, led by WestCap $115M
- Debt not a venture round 9 Dec 2025, led by Blue Owl Capital $2.50B
Investors
Who put money in
WestCap led the round with 8 other firms. WestCap, Andreessen Horowitz, Ribbit and Redwood Trust and 2 more had backed Point before.
Lead investor
- WestCap backs 36 venture-backed companies existing investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Ribbit backs 126 venture-backed companies existing investor
- Redwood Trust existing investor
- Atalaya Capital Management existing investor
- backs 26 venture-backed companies existing investor
- Deer Park Road Management new investor
- The Palisades Group new investor
- backs 39 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
25 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $50M, and this round was 2.3 times the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 20 May 2022 | $115M | $1.10B | Goldman Sachs Asset Management |
| Loans & Financing | 31 May 2022 | $42M | not disclosed | Luther King Capital Management |
| Stashfin Loans & Financing | 21 Jun 2022 | $270M | $730M | Uncorrelated Ventures and Fasanara Capital |
| Loans & Financing | 30 Jun 2022 | $160M | $2.00B | not named |
| Loans & Financing | 30 Jun 2022 | $113M | $820M | not named |
| Loans & Financing | 28 Jun 2022 | $40M | not disclosed | Creation Investments and Tiger Global |
| Loans & Financing | 27 Jul 2022 | $22M | $370M | Nue3 Capital |
| Loans & Financing | 16 Mar 2022 | $19M | not disclosed | Lightrock |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Point raise in its Series C round?
Point raised $115M in its Series C round, announced in May 2022.
Who led Point's Series C round?
WestCap led it, with Andreessen Horowitz, Ribbit, Redwood Trust, Atalaya Capital Management and DAG Ventures and 3 more.
What was Point's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
25 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $50M, and this round was 2.3 times the median.