Funding round
Spacelift Series A
Spacelift, which works in infrastructure automation platform development in Redwood City, raised $6.0M in a Series A round announced on 11 Feb 2021, led by Blossom Capital. 3 firms took part. It is Spacelift's second venture round on record; the one before was a Pre-seed in Nov 2020.
$6.0M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Spacelift did not disclose a valuation in this round. It came 3 months after Spacelift's Pre-seed. It is 8.2% of the $74M Spacelift has raised in the venture rounds on record. Spacelift raised again 4 months later: a Series B round of $15M in Jun 2021.
Spacelift's funding rounds
Spacelift has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Blossom Capital led the round with 2 other firms.
Lead investor
- backs 30 venture-backed companies new investor
Also in the round
- Inovo Venture Partners new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
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
1,580 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 55% of the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 3 Feb 2021 | $55M | not disclosed | Accenture Ventures |
| Tech Companies | 2 Feb 2021 | $50M | not disclosed | Andreessen Horowitz |
| Tech Companies | 12 Feb 2021 | $45M | not disclosed | Aldrich Capital Partners |
| Tech Companies | 9 Feb 2021 | $43M | not disclosed | Norwest |
| Metropolis Tech Companies | 16 Feb 2021 | $41M | not disclosed | 3L Growth Equity |
| Tech Companies | 10 Feb 2021 | $40M | not disclosed | PSG |
| Tech Companies | 10 Feb 2021 | $28M | not disclosed | K1 Investment Management |
| Tech Companies | 24 Feb 2021 | $24M | not disclosed | Lightspeed Venture Partners and Balderton Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Spacelift raise in its Series A round?
Spacelift raised $6.0M in its Series A round, announced in Feb 2021.
Who led Spacelift's Series A round?
Blossom Capital led it, with Inovo Venture Partners and Hoxton Ventures.
What was Spacelift's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,580 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 55% of the median.
Did Spacelift raise again after this round?
Yes: a Series B round in Jun 2021 of $15M.