Funding round
Sonar Growth
Reported as "Growth Equity"
Sonar, which works in integrated code quality and security solutions in Geneva, raised $412M in a Growth round announced on 26 Apr 2022, led by Advent International and General Catalyst, at a $4.70B post-money valuation. 4 firms took part, 2 of them already investors.
$412M
Amount raised
$4.70B
Post-money valuation
$4.29B pre-money
4
Investors
2 leads
8.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Sonar at $4.70B after the new money. The $412M bought investors about 8.8% of the company. It is Sonar's first venture round on record, 14 years after it was founded in 2008. No later venture round is on record for Sonar.
Sonar's funding rounds
This is the only venture round on record for Sonar.
- Growth this round 26 Apr 2022, led by Advent International and General Catalyst $412M$4.70B post-money
Investors
Who put money in
Advent International and General Catalyst led the round with 2 other firms. Insight Partners and Permira had backed Sonar before.
Lead investors
- Advent International backs 36 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
Also in the round
- Insight Partners backs 548 venture-backed companies existing investor
- backs 21 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
427 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 6.9 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| NEAR Tech Companies | 9 Apr 2022 | $350M | not disclosed | Tiger Global |
| Fetch Tech Companies | 7 Apr 2022 | $240M | $2.50B | Hamilton Lane |
| Tech Companies | 12 Apr 2022 | $215M | not disclosed | Vista Equity Partners |
| Kpler Tech Companies | 13 Apr 2022 | $200M | not disclosed | Insight Partners and Five Arrows |
| Tech Companies | 11 Apr 2022 | $185M | $1.70B | SoftBank Vision Fund |
| Tech Companies | 7 Apr 2022 | $150M | $3.00B | Andreessen Horowitz and SoftBank Vision Fund |
| Tech Companies | 28 Apr 2022 | $105M | $530M | Bertelsmann Investments |
| Tech Companies | 8 Apr 2022 | $100M | $1.60B | Novator Ventures |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Sonar raise in its Growth round?
Sonar raised $412M in its Growth round, announced in Apr 2022.
Who led Sonar's Growth round?
Advent International and General Catalyst led it, with Insight Partners and Permira.
What was Sonar's valuation at the Growth round?
$4.70B post-money ($4.29B pre-money).
How does it compare with other Growth rounds in Tech Companies?
427 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 6.9 times the median.