Funding round
Silent Eight Series B
Silent Eight, which works in AI-Driven financial crime compliance solutions in Singapore, raised $40M in a Series B round announced on 9 Mar 2022, led by TYH Ventures. 7 firms took part. It is Silent Eight's third venture round on record; the one before was a Series A in Nov 2019.
$40M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Silent Eight did not disclose a valuation in this round. It came 28 months after Silent Eight's Series A. It is 87% of the $46M Silent Eight has raised in the venture rounds on record. No later venture round is on record for Silent Eight.
Silent Eight's funding rounds
Silent Eight has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
TYH Ventures led the round with 6 other firms.
Lead investor
- TYH Ventures new investor
Also in the round
- HSBC Ventures new investor
- OTB Ventures backs 27 venture-backed companies new investor
- backs 91 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- Aglaia new investor
- backs 15 venture-backed companies new investor
Joined the board: Kolya Miller (TYH Ventures) and Tom Caine (HSBC Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,024 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Mar 2022 | $150M | $1.65B | Andreessen Horowitz and Paradigm |
| Island Tech Companies | 23 Mar 2022 | $115M | $1.30B | Insight Partners |
| Tech Companies | 8 Mar 2022 | $100M | not disclosed | Wormhole Capital |
| Tech Companies | 29 Mar 2022 | $82M | not disclosed | not named |
| Tech Companies | 11 Mar 2022 | $65M | not disclosed | not named |
| Tech Companies | 3 Mar 2022 | $60M | not disclosed | Insight Partners |
| Tech Companies | 15 Mar 2022 | $60M | $400M | Tiger Global and Sequoia Capital India |
| Tech Companies | 9 Mar 2022 | $53M | not disclosed | Eight Roads |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Silent Eight raise in its Series B round?
Silent Eight raised $40M in its Series B round, announced in Mar 2022.
Who led Silent Eight's Series B round?
TYH Ventures led it, with HSBC Ventures, OTB Ventures, Wavemaker Partners, SC Ventures and Aglaia and 1 more.
What was Silent Eight's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
1,024 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.3 times the median.