Funding round
Sierra Space Series A
Sierra Space, which works in space systems and subsystems manufacturing in Louisville, raised $1.40B in a Series A round announced on 19 Nov 2021, led by General Atlantic, Coatue and Moore Strategic Ventures, at a $4.50B post-money valuation. 8 firms took part. It is Sierra Space's first venture round on record.
$1.40B
Amount raised
$4.50B
Post-money valuation
$3.10B pre-money
8
Investors
3 leads
31%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Sierra Space at $4.50B after the new money. The $1.40B bought investors about 31% of the company. It is Sierra Space's first venture round on record, in the year it was founded (2021). It is 63% of the $2.24B Sierra Space has raised in the venture rounds on record. Sierra Space raised again 22 months later: a Series B round of $290M in Sep 2023, at $5.30B post-money.
Sierra Space's funding rounds
Sierra Space has 3 venture rounds on record. This one is highlighted.
- Series A this round 19 Nov 2021, led by General Atlantic, Coatue and Moore Strategic Ventures $1.40B$4.50B post-money
- Series B 26 Sep 2023, led by MUFG Bank, Kanematsu and Tokio Marine & Nichido Fire Insurance $290M$5.30B post-money
- Series C 5 Mar 2026, led by LuminArx Capital Management $550M$8.00B post-money
Investors
Who put money in
General Atlantic, Coatue and Moore Strategic Ventures led the round with 5 other firms.
Lead investors
- General Atlantic backs 134 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- Moore Strategic Ventures new investor
Also in the round
- BlackRock Private Equity Partners new investor
- backs 23 venture-backed companies new investor
- BlackRock
- Stanley Druckenmiller
- Vincent Viola
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
33 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $22M, and this round was 64 times the median. The closest in time, other companies' Series A rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 16 Nov 2021 | $20M | not disclosed | Chartered Group |
| Aerospace and Defence | 4 Nov 2021 | $15M | not disclosed | Prime Movers Lab |
| Forterra Aerospace and Defence | 9 Dec 2021 | $228M | not disclosed | SoftBank Vision Fund and Enlightenment Capital |
| Stoke Space Aerospace and Defence | 15 Dec 2021 | $65M | not disclosed | Breakthrough Energy |
| Aerospace and Defence | 14 Oct 2021 | $40M | not disclosed | Prime Movers Lab |
| Aerospace and Defence | 20 Oct 2021 | $28M | not disclosed | New Legacy |
| Aerospace and Defence | 12 Oct 2021 | $25M | not disclosed | Index Ventures |
| Aerospace and Defence | 13 Dec 2021 | $1.0M | not disclosed | Hardcastle Petrofer |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Sierra Space raise in its Series A round?
Sierra Space raised $1.40B in its Series A round, announced in Nov 2021.
Who led Sierra Space's Series A round?
General Atlantic, Coatue and Moore Strategic Ventures led it, with BlackRock Private Equity Partners, AE Industrial Partners, BlackRock, Stanley Druckenmiller and Vincent Viola.
What was Sierra Space's valuation at the Series A round?
$4.50B post-money ($3.10B pre-money).
How does it compare with other Series A rounds in Aerospace and Defence?
33 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $22M, and this round was 64 times the median.
Did Sierra Space raise again after this round?
Yes: a Series B round in Sep 2023 of $290M at $5.30B post-money.