Funding round
SpotOn Series D
SpotOn, which works in point-of-sale system deployment in San Francisco, raised $125M in a Series D round announced on 26 May 2021, led by Andreessen Horowitz, at a $1.88B post-money valuation. 6 firms took part, 5 of them already investors. It is SpotOn's third venture round on record; the one before was a Series C in Sep 2020.
$125M
Amount raised
$1.88B
Post-money valuation
6
Investors
1 lead
6.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced SpotOn at $1.88B after the new money. The $125M bought investors about 6.7% of the company. It came 8 months after SpotOn's Series C. It is 15% of the $835M SpotOn has raised in the venture rounds on record. SpotOn raised again 4 months later: a Series E round of $300M in Sep 2021, at $3.15B post-money.
SpotOn's funding rounds
SpotOn has 5 venture rounds on record. This one is highlighted.
- Series B 11 Mar 2020, led by 01A $50M
- Series C 23 Sep 2020, led by DST Global $60M
- Series D this round 26 May 2021, led by Andreessen Horowitz $125M$1.88B post-money
- Series E 13 Sep 2021, led by Andreessen Horowitz $300M$3.15B post-money
- Series F 18 May 2022, led by Dragoneer Investment Group $300M$3.60B post-money
Investors
Who put money in
Andreessen Horowitz led the round with 5 other firms. Andreessen Horowitz, DST Global, 01A and Dragoneer Investment Group and 1 more had backed SpotOn before.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
Also in the round
- DST Global backs 179 venture-backed companies existing investor
- 01A backs 53 venture-backed companies existing investor
- Dragoneer Investment Group backs 82 venture-backed companies existing investor
- Franklin Templeton existing investor
- Mubadala backs 42 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
23 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $215M, and this round was 58% of the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
| Payment Processing & Point of Sale | 28 Apr 2021 | $80M | not disclosed | Tencent and European Bank for Reconstruction and Development |
| Payment Processing & Point of Sale | 8 Apr 2021 | $70M | not disclosed | Addition |
| Payment Processing & Point of Sale | 24 Jun 2021 | $50M | not disclosed | Mission Holdings and Mastercard |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did SpotOn raise in its Series D round?
SpotOn raised $125M in its Series D round, announced in May 2021.
Who led SpotOn's Series D round?
Andreessen Horowitz led it, with DST Global, 01A, Dragoneer Investment Group, Franklin Templeton and Mubadala.
What was SpotOn's valuation at the Series D round?
$1.88B post-money.
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
23 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $215M, and this round was 58% of the median.
Did SpotOn raise again after this round?
Yes: a Series E round in Sep 2021 of $300M at $3.15B post-money.