Funding round
SenseTime Series C
SenseTime, which works in AI software platform development in Xuhui District, raised $600M in a Series C round announced on 9 Apr 2018, led by Alibaba Group. 3 firms took part, 1 of them already investors. It is SenseTime's second venture round on record; the one before was a Series B in Jul 2017.
$600M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
SenseTime did not disclose a valuation in this round; its last disclosed one was $1.50B at the Series B (Jul 2017). It came 9 months after SenseTime's Series B. It is 59% of the $1.01B SenseTime has raised in the venture rounds on record. No later venture round is on record for SenseTime.
SenseTime's funding rounds
SenseTime has 2 venture rounds on record. This one is highlighted.
- Series B 14 Jul 2017 $410M$1.50B post-money
- Series C this round 9 Apr 2018, led by Alibaba Group $600M
Investors
Who put money in
Alibaba Group led the round with 2 other firms. Alibaba Group had backed SenseTime before.
Lead investor
- Alibaba Group existing investor
Also in the round
- Temasek backs 195 venture-backed companies new investor
- Suning new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
207 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $32M, and this round was 19 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Apr 2018 | $54M | not disclosed | Sofina and Burda Principal Investments |
| Tech Companies | 3 Apr 2018 | $50M | $200M | Insight Partners |
| Tech Companies | 12 Apr 2018 | $44M | not disclosed | Warburg Pincus |
| Tech Companies | 13 Apr 2018 | $31M | not disclosed | LLR Partners |
| Tech Companies | 26 Apr 2018 | $24M | not disclosed | Salesforce Ventures |
| Tech Companies | 25 Apr 2018 | $21M | not disclosed | not named |
| Tech Companies | 25 Apr 2018 | $10M | not disclosed | TLV Partners |
| Tech Companies | 1 Mar 2018 | $100M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did SenseTime raise in its Series C round?
SenseTime raised $600M in its Series C round, announced in Apr 2018.
Who led SenseTime's Series C round?
Alibaba Group led it, with Temasek and Suning.
What was SenseTime's valuation at the Series C round?
It was not disclosed; its last disclosed one was $1.50B at the Series B (Jul 2017).
How does it compare with other Series C rounds in Tech Companies?
207 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $32M, and this round was 19 times the median.