Funding round
SpotOn Series F
SpotOn, which works in point-of-sale system deployment in San Francisco, raised $300M in a Series F round announced on 18 May 2022, led by Dragoneer Investment Group, at a $3.60B post-money valuation. 6 firms took part. It is SpotOn's fifth venture round on record; the one before was a Series E in Sep 2021.
$300M
Amount raised
$3.60B
Post-money valuation
$3.30B pre-money
6
Investors
1 lead
1.1x
Step-up from the Series E
$3.15B in Sep 2021
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced SpotOn at $3.60B after the new money, 1.1 times the $3.15B of its Series E (Sep 2021). The $300M bought investors about 8.3% of the company. It came 8 months after SpotOn's Series E. It is 36% of the $835M SpotOn has raised in the venture rounds on record. No later venture round is on record for SpotOn.
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 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 this round 18 May 2022, led by Dragoneer Investment Group $300M$3.60B post-money
Investors
Who put money in
Dragoneer Investment Group led the round with 5 other firms.
Lead investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
- Franklin Templeton new investor
- Mubadala backs 42 venture-backed companies new investor
- G Squared backs 40 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series F rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CRED Payment Processing & Point of Sale | 9 Jun 2022 | $140M | $6.40B | GIC |
| Payment Processing & Point of Sale | 24 Jun 2022 | $80M | not disclosed | Asia Partners |
| Razorpay Payment Processing & Point of Sale | 20 Dec 2021 | $375M | $7.50B | Lone Pine Capital and Alkeon |
| Tipalti Payment Processing & Point of Sale | 8 Dec 2021 | $270M | $8.30B | G Squared |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did SpotOn raise in its Series F round?
SpotOn raised $300M in its Series F round, announced in May 2022.
Who led SpotOn's Series F round?
Dragoneer Investment Group led it, with Andreessen Horowitz, DST Global, Franklin Templeton, Mubadala and G Squared.
What was SpotOn's valuation at the Series F round?
$3.60B post-money ($3.30B pre-money).