Funding round
Ripple Series B
Ripple, which works in blockchain solutions development in San Francisco, raised $55M in a Series B round announced on 15 Sep 2016, led by SBI Holdings. 13 firms took part, 1 of them already investors. It is Ripple's third venture round on record; the one before was a Series A in May 2015.
$55M
Amount raised
Not disclosed
Post-money valuation
13
Investors
1 lead
Valuation
What this round says about the price
Ripple did not disclose a valuation in this round. It came 16 months after Ripple's Series A. It is 6.5% of the $847M Ripple has raised in the venture rounds on record. Ripple raised again 39 months later: a Series C round of $200M in Dec 2019, at $10.00B post-money.
Ripple's funding rounds
Ripple has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2013 $3.5M
- Series A 19 May 2015 $28M
- Series B this round 15 Sep 2016, led by SBI Holdings $55M
- Series C 20 Dec 2019, led by Tetragon $200M$10.00B post-money
- Series E 21 Sep 2021, led by Bloom8, Ajax Strategies and S2G Investments $60M$357M post-money
- Growth 5 Nov 2025, led by Fortress Investment Group and Citadel Securities $500M$40.00B post-money
- Debt not a venture round 19 Aug 2026 $275M
Investors
Who put money in
SBI Holdings led the round with 12 other firms. Standard Chartered had backed Ripple before.
Lead investor
- backs 45 venture-backed companies new investor
Also in the round
- Standard Chartered existing investor
- Accenture Ventures new investor
- SCB Digital Ventures new investor
- backs 39 venture-backed companies new investor
- CME Group new investor
- Seagate Technology new investor
- backs 6 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- IDG Capital backs 49 venture-backed companies new investor
- AME Cloud Ventures backs 105 venture-backed companies new investor
- backs 96 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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Cryptocurrency, then Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 19 Sep 2017 | $9.0M | not disclosed | Balderton Capital |
| Flexport Trucking and Logistics | 26 Sep 2016 | $65M | $320M | not named |
| Zuoyebang Learning, Tutoring & Courses | 28 Sep 2016 | $60M | not disclosed | GGV Capital and Xiang He Capital |
| Medical Laboratories | 27 Sep 2016 | $45M | not disclosed | General Catalyst |
| Food delivery | 29 Sep 2016 | $40M | not disclosed | L Catterton |
| Cato Networks Tech Companies | 22 Sep 2016 | $30M | not disclosed | Greylock Partners |
| Toss Business Payment Processing & Point of Sale | 29 Sep 2016 | $24M | not disclosed | Goodwater Capital and Qualcomm Ventures |
| Tech Companies | 21 Sep 2016 | $20M | not disclosed | Evolution Media Partners |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Ripple raise in its Series B round?
Ripple raised $55M in its Series B round, announced in Sep 2016.
Who led Ripple's Series B round?
SBI Holdings led it, with Standard Chartered, Accenture Ventures, SCB Digital Ventures, Mouro Capital and CME Group and 7 more.
What was Ripple's valuation at the Series B round?
It was not disclosed.
Did Ripple raise again after this round?
Yes: a Series C round in Dec 2019 of $200M at $10.00B post-money.