Funding round
Remote Series C
Remote, which works in HR management solutions in United States, raised $300M in a Series C round announced on 5 Apr 2022, led by SoftBank Vision Fund, at a $3.00B post-money valuation. 11 firms took part. It is Remote's third venture round on record; the one before was a Series B in Jul 2021.
$300M
Amount raised
$3.00B
Post-money valuation
$2.70B pre-money
11
Investors
1 lead
3.0x
Step-up from the Series B
$1.00B in Jul 2021
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Remote at $3.00B after the new money, 3.0 times the $1.00B of its Series B (Jul 2021). The $300M bought investors about 10% of the company. It came 9 months after Remote's Series B. It is 62% of the $485M Remote has raised in the venture rounds on record. No later venture round is on record for Remote.
Investors
Who put money in
SoftBank Vision Fund led the round with 10 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Accel backs 581 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- 9Yards Capital new investor
- Adams Street Partners backs 61 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- Flucas Ventures new investor
- Gaingels backs 364 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
455 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 20 Apr 2022 | $170M | not disclosed | Prosus and Sanabil |
| Tech Companies | 10 Apr 2022 | $150M | $1.90B | Binance |
| Tech Companies | 12 Apr 2022 | $150M | $1.00B | Silver Lake |
| Tech Companies | 20 Apr 2022 | $125M | $1.00B | Buckley Ventures |
| Tech Companies | 12 Apr 2022 | $125M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 27 Apr 2022 | $105M | not disclosed | Blue Earth Capital |
| Tech Companies | 4 Apr 2022 | $100M | $800M | G Squared |
| ThreatLocker Tech Companies | 19 Apr 2022 | $100M | not disclosed | General Atlantic |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Remote raise in its Series C round?
Remote raised $300M in its Series C round, announced in Apr 2022.
Who led Remote's Series C round?
SoftBank Vision Fund led it, with Accel, Sequoia Capital, Index Ventures, Two Sigma Ventures and General Catalyst and 5 more.
What was Remote's valuation at the Series C round?
$3.00B post-money ($2.70B pre-money).
How does it compare with other Series C rounds in Tech Companies?
455 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median.