Funding round
Settle Series A
Settle, which works in procurement management platform development in New York, raised $15M in a Series A round announced on 18 May 2021, led by Kleiner Perkins. 6 firms took part. It is Settle's first venture round on record.
$15M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Settle did not disclose a valuation in this round. It is Settle's first venture round on record, 2 years after it was founded in 2019. It is 20% of the $75M Settle has raised in the venture rounds on record. Settle raised again 6 months later: a Series B round of $60M in Nov 2021.
Settle's funding rounds
Settle has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 18 May 2021, led by Kleiner Perkins $15M
- Series B 17 Nov 2021, led by Ribbit $60M
- Debt not a venture round 25 Jul 2023, led by Silicon Valley Bank $145M
- Debt not a venture round 1 Oct 2026 $240M
Investors
Who put money in
Kleiner Perkins led the round with 5 other firms.
Lead investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Also in the round
- backs 47 venture-backed companies new investor
- Caffeinated backs 79 venture-backed companies new investor
- backs 25 venture-backed companies new investor
- Background Capital new investor
- backs 65 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, scaling operations and working capital.
- Hiring
- Scaling operations
- Working capital
Comparable rounds
How it compares
109 Series A rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $16M, and this round was close to the median. The closest in time, other companies' Series A rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 24 May 2021 | $25M | not disclosed | Acorn Capital and Artesian |
| Payment Processing & Point of Sale | 27 May 2021 | $13M | not disclosed | Craft Ventures |
| Payment Processing & Point of Sale | 25 May 2021 | $10M | not disclosed | Forgepoint Capital and Ardent Venture Partners |
| Payment Processing & Point of Sale | 3 May 2021 | $7.6M | not disclosed | Shorooq Partners |
| Tamara Payment Processing & Point of Sale | 22 Apr 2021 | $110M | not disclosed | Checkout.com |
| Payment Processing & Point of Sale | 10 Jun 2021 | $60M | not disclosed | Goodwater Capital and Valar Ventures |
| Payment Processing & Point of Sale | 1 Jun 2021 | $43M | not disclosed | not named |
| Payment Processing & Point of Sale | 16 Jun 2021 | $38M | $350M | Elevation Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Settle raise in its Series A round?
Settle raised $15M in its Series A round, announced in May 2021.
Who led Settle's Series A round?
Kleiner Perkins led it, with SciFi VC, Caffeinated, Worklife, Background Capital and AngelList.
What was Settle's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Payment Processing & Point of Sale?
109 Series A rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $16M, and this round was close to the median.
Did Settle raise again after this round?
Yes: a Series B round in Nov 2021 of $60M.