Funding round
project44 Growth
Reported as "Growth Equity"
project44, which works in decision intelligence platform solutions in Chicago, raised $35M in a Growth round announced on 18 Apr 2018, led by OpenView. 6 firms took part, 5 of them already investors. It is project44's second venture round on record; the one before was a Series A in Sep 2016.
$35M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
project44 did not disclose a valuation in this round. It came 19 months after project44's Series A. It is 3.9% of the $893M project44 has raised in the venture rounds on record. project44 raised again 6 months later: a Growth round of $45M in Oct 2018. Its next priced round, a Series E in Jun 2021, valued it at $1.20B.
project44's funding rounds
project44 has 7 venture rounds on record. This one is highlighted.
- Series A 12 Sep 2016, led by Emergence Capital and Chicago Ventures $11M
- Growth this round 18 Apr 2018, led by OpenView $35M
- Growth 1 Oct 2018, led by Sapphire Ventures $45M
- Series D 21 Dec 2020, led by Insight Partners $100M
- Series E 1 Jun 2021, led by Goldman Sachs Asset Management and Emergence Capital $202M$1.20B post-money
- Growth 11 Jan 2022, led by Thoma Bravo, TPG and Goldman Sachs $420M
- Series F 3 Nov 2022, led by Generation Investment Management and A.P. Moller Holding $80M$2.70B post-money
Investors
Who put money in
OpenView led the round with 5 other firms. OpenView, Emergence Capital, Omidyar Technology Ventures and Chicago Ventures and 1 more had backed project44 before.
Lead investor
- backs 44 venture-backed companies existing investor
Also in the round
- 8VC new investor
- backs 96 venture-backed companies existing investor
- backs 6 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
- backs 42 venture-backed companies existing 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
186 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 78% of the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Discord Tech Companies | 20 Apr 2018 | $50M | $1.65B | not named |
| Tech Companies | 12 Apr 2018 | $40M | not disclosed | PeakEquity Partners |
| Tech Companies | 20 Apr 2018 | $36M | not disclosed | Andreessen Horowitz |
| Tech Companies | 4 Apr 2018 | $35M | not disclosed | Susquehanna Growth Equity |
| Tech Companies | 10 Apr 2018 | $25M | not disclosed | not named |
| Tech Companies | 12 Apr 2018 | undisclosed | not disclosed | not named |
| Tanium Tech Companies | 16 May 2018 | $175M | $5.00B | TPG |
| Tech Companies | 1 May 2018 | $56M | not disclosed | One Peak |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did project44 raise in its Growth round?
project44 raised $35M in its Growth round, announced in Apr 2018.
Who led project44's Growth round?
OpenView led it, with 8VC, Emergence Capital, Omidyar Technology Ventures, Chicago Ventures and Pritzker Group.
What was project44's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
186 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 78% of the median.
Did project44 raise again after this round?
Yes: a Growth round in Oct 2018 of $45M.