Funding round
Recart Series A
Recart, which works in SMS marketing platform development in Budapest, raised $3.4M in a Series A round announced on 3 Jun 2021, led by Lead Ventures. 3 firms took part.
$3.4M
Amount raised
2,800,000 EUR converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Recart did not disclose a valuation in this round. It is Recart's first venture round on record, 6 years after it was founded in 2015. No later venture round is on record for Recart.
Recart's funding rounds
This is the only venture round on record for Recart.
- Series A this round 3 Jun 2021, led by Lead Ventures $3.4M
Investors
Who put money in
Lead Ventures led the round with 2 other firms.
Lead investor
- backs 13 venture-backed companies new investor
Also in the round
- backs 6 venture-backed companies new investor
- Day One Capital backs 22 venture-backed companies new 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
1,789 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 28% of the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Transmit Security Tech Companies | 22 Jun 2021 | $543M | $2.20B | Insight Partners and General Atlantic |
| Tech Companies | 8 Jun 2021 | $110M | not disclosed | Insight Partners |
| Waabi Tech Companies | 8 Jun 2021 | $84M | not disclosed | Khosla Ventures |
| Tech Companies | 9 Jun 2021 | $61M | not disclosed | EQT Ventures |
| Tech Companies | 10 Jun 2021 | $37M | not disclosed | Lead Edge Capital |
| Tech Companies | 18 Jun 2021 | $34M | not disclosed | Andreessen Horowitz |
| Tech Companies | 30 Jun 2021 | $32M | not disclosed | Goldman Sachs Asset Management |
| Tech Companies | 3 Jun 2021 | $31M | $80M | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Recart raise in its Series A round?
Recart raised $3.4M in its Series A round, announced in Jun 2021.
Who led Recart's Series A round?
Lead Ventures led it, with Oktogon Ventures and Day One Capital.
What was Recart's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,789 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 28% of the median.