Funding round
The Boring Company Growth
Reported as "Growth Equity"
The Boring Company, which works in tunnel construction services in Las Vegas, raised $120M in a Growth round announced on 25 Jul 2019, at a $920M post-money valuation. 7 firms took part. It is The Boring Company's second venture round on record; the one before was a Series A in Apr 2018.
$120M
Amount raised
$920M
Post-money valuation
$800M pre-money
7
Investors
no lead named
13%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced The Boring Company at $920M after the new money. The $120M bought investors about 13% of the company. It came 15 months after The Boring Company's Series A. It is 3.1% of the $3.91B The Boring Company has raised in the venture rounds on record. The Boring Company raised again 33 months later: a Series C round of $675M in Apr 2022, at $5.67B post-money.
The Boring Company's funding rounds
The Boring Company has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
7 firms took part; no lead investor was named.
Investors
- 8VC new investor
- backs 52 venture-backed companies new investor
- backs 41 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- Craft Ventures backs 197 venture-backed companies new investor
- backs 74 venture-backed companies new investor
- DJF new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
The closest in time: Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| OpenAI Tech Companies | 22 Jul 2019 | $1.00B | not disclosed | Microsoft |
| Hotels | 15 Jul 2019 | $314M | not disclosed | Madison Realty Capital |
| Tech Companies | 11 Jul 2019 | $177M | $400M | Apax Partners |
| Thumbtack Tech Companies | 22 Jul 2019 | $150M | $1.70B | Sequoia Capital |
| Pharmaceutical Products | 16 Jul 2019 | $130M | $783M | EQT and Andera Partners |
| Renewable energy companies | 9 Jul 2019 | $100M | not disclosed | Greater Pacific Capital |
| Dentists & Dental Clinics | 1 Jul 2019 | $75M | not disclosed | Peloton Capital Management |
| Paints, Coatings, Dyes & Pigments | 3 Jul 2019 | $70M | not disclosed | Icon Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did The Boring Company raise in its Growth round?
The Boring Company raised $120M in its Growth round, announced in Jul 2019.
Which investors took part in The Boring Company's Growth round?
8VC, dfj, Future Ventures, Vy Capital, Craft Ventures and Valor Capital Group and 1 more.
What was The Boring Company's valuation at the Growth round?
$920M post-money ($800M pre-money).
Did The Boring Company raise again after this round?
Yes: a Series C round in Apr 2022 of $675M at $5.67B post-money.