Funding round
ShareChat Series C
ShareChat, which works in social networking platform development in Bengaluru, raised $99M in a Series C round announced on 19 Sep 2018, led by Shunwei Capital, at a $460M post-money valuation. 17 firms took part, 4 of them already investors, with 1 individual investor. It is ShareChat's fourth venture round on record; the one before was a Growth in Jun 2018.
$99M
Amount raised
$460M
Post-money valuation
$361M pre-money
17
Investors
1 lead
1.1x
Step-up from the Growth
$400M in Jun 2018
22%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ShareChat at $460M after the new money, 1.1 times the $400M of its Growth (Jun 2018). The $99M bought investors about 22% of the company. It came 3 months after ShareChat's Growth. It is 6.5% of the $1.53B ShareChat has raised in the venture rounds on record. ShareChat raised again 11 months later: a Series D round of $100M in Aug 2019, at $650M post-money.
ShareChat's funding rounds
ShareChat has 10 venture rounds on record and 3 other deals. This one is highlighted.
- Series A 24 Nov 2016, led by Lightspeed Venture Partners $4.0M
- Series B 18 Jan 2018, led by Xiaomi and Shunwei Capital $18M$67M post-money
- Growth 5 Jun 2018, led by Shunwei Capital and Xiaomi $100M$400M post-money
- Series C this round 19 Sep 2018, led by Shunwei Capital $99M$460M post-money
- Series D 15 Aug 2019, led by Twitter $100M$650M post-money
- Debt not a venture round 1 Jan 2020 $60M
- Series E 24 Sep 2020 $40M
- Growth 8 Apr 2021 $502M$2.10B post-money
- Series F 27 Jul 2021, led by Temasek, Moore Strategic Ventures and Mirae Asset-Naver Asia Growth Fund $145M$2.88B post-money
- Series G 16 Dec 2021, led by Alkeon $266M$3.70B post-money
- Series H+ 16 Jun 2022, led by GV $255M$5.00B post-money
- Debt not a venture round 15 Apr 2024 $49M
- Debt not a venture round 5 Aug 2024, led by EDBI $16M
Investors
Who put money in
Shunwei Capital led the round with 16 other firms. Xiaomi, Lightspeed Venture Partners, SAIF Partners and Venture Highway had backed ShareChat before.
Lead investor
- backs 36 venture-backed companies new investor
Also in the round
- Morningside Ventures new investor
- Xiaomi existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- backs 31 venture-backed companies existing investor
- Venture Highway existing investor
- DST Global backs 179 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- 5Y Capital new investor
- Jesmond Holdings new investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
- backs 117 venture-backed companies new investor
- Greylock Partners backs 190 venture-backed companies new investor
- backs 56 venture-backed companies new investor
- backs 36 venture-backed companies new investor
- Unidentified Cayman Islands-based fund new investor
Individual investors: Russell Cook.
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
225 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 2.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Sep 2018 | $185M | $1.08B | CapitalG |
| GreyOrange Tech Companies | 6 Sep 2018 | $140M | not disclosed | Mithril |
| Tech Companies | 18 Sep 2018 | $80M | $500M | Porsche Ventures |
| Tech Companies | 11 Sep 2018 | $50M | not disclosed | FOSUN and Morningside Venture Capital |
| Tech Companies | 28 Sep 2018 | $43M | not disclosed | Tiger Global |
| Tech Companies | 12 Sep 2018 | $38M | not disclosed | Napier Park Global Capital |
| Tech Companies | 26 Sep 2018 | $30M | $330M | Insight Partners and Madrona |
| Tech Companies | 27 Sep 2018 | $30M | $150M | Planven Investments SA and Planven |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did ShareChat raise in its Series C round?
ShareChat raised $99M in its Series C round, announced in Sep 2018.
Who led ShareChat's Series C round?
Shunwei Capital led it, with Morningside Ventures, Xiaomi, Lightspeed Venture Partners, SAIF Partners and Venture Highway and 11 more.
What was ShareChat's valuation at the Series C round?
$460M post-money ($361M pre-money).
How does it compare with other Series C rounds in Tech Companies?
225 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 2.8 times the median.
Did ShareChat raise again after this round?
Yes: a Series D round in Aug 2019 of $100M at $650M post-money.