Funding round
project44 Series A
project44, which works in decision intelligence platform solutions in Chicago, raised $11M in a Series A round announced on 12 Sep 2016, led by Emergence Capital and Chicago Ventures. 3 firms took part. It is project44's first venture round on record.
$11M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
project44 did not disclose a valuation in this round. It is project44's first venture round on record, 2 years after it was founded in 2014. It is 1.2% of the $893M project44 has raised in the venture rounds on record. project44 raised again 19 months later: a Growth round of $35M in Apr 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 this round 12 Sep 2016, led by Emergence Capital and Chicago Ventures $11M
- Growth 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
Emergence Capital and Chicago Ventures led the round with 1 other firm.
Lead investors
- backs 96 venture-backed companies new investor
- backs 37 venture-backed companies new investor
Also in the round
- Silicon Valley Bank 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
511 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.0M, and this round was 1.5 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 13 Sep 2016 | $11M | not disclosed | RRE and Foundry |
| Tech Companies | 9 Sep 2016 | $10M | not disclosed | Atomico |
| Tech Companies | 14 Sep 2016 | $10M | not disclosed | Accel |
| Tech Companies | 27 Sep 2016 | $10M | not disclosed | Canaan |
| Tech Companies | 15 Sep 2016 | $8.0M | not disclosed | Balderton Capital |
| Tech Companies | 6 Sep 2016 | $8.0M | not disclosed | Ventura Capital and Sequoia Capital |
| Tech Companies | 26 Sep 2016 | $7.5M | not disclosed | Paladin Capital Group |
| Tech Companies | 30 Sep 2016 | $7.3M | not disclosed | Epic Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did project44 raise in its Series A round?
project44 raised $11M in its Series A round, announced in Sep 2016.
Who led project44's Series A round?
Emergence Capital and Chicago Ventures led it, with Silicon Valley Bank.
What was project44's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
511 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.0M, and this round was 1.5 times the median.
Did project44 raise again after this round?
Yes: a Growth round in Apr 2018 of $35M.