Funding round
Thought Machine Series A
Thought Machine, which works in core banking platform development in London, raised $14M in a Series A round announced on 8 Nov 2018, led by Lloyds Banking Group. 1 firm took part. It is Thought Machine's first venture round on record.
$14M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Thought Machine did not disclose a valuation in this round. It is Thought Machine's first venture round on record, 4 years after it was founded in 2014. It is 2.9% of the $499M Thought Machine has raised in the venture rounds on record. Thought Machine raised again 20 months later: a Series B round of $125M in Jul 2020. Its next priced round, a Series C in Nov 2021, valued it at $1.00B.
Thought Machine's funding rounds
Thought Machine has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Lloyds Banking Group led the round.
Lead investor
- Lloyds Banking Group new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
890 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 1.8 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automation Anywhere Tech Companies | 15 Nov 2018 | $300M | $2.60B | not named |
| Tech Companies | 27 Nov 2018 | $60M | not disclosed | Jungle Ventures |
| Tech Companies | 8 Nov 2018 | $25M | not disclosed | Accel |
| Tech Companies | 13 Nov 2018 | $22M | not disclosed | Macquarie |
| Tech Companies | 21 Nov 2018 | $18M | not disclosed | Greycroft and Gradient |
| Tech Companies | 16 Nov 2018 | $16M | not disclosed | Galaxy |
| Tech Companies | 15 Nov 2018 | $16M | not disclosed | Canaan |
| Tech Companies | 28 Nov 2018 | $13M | not disclosed | Investec Bank |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Thought Machine raise in its Series A round?
Thought Machine raised $14M in its Series A round, announced in Nov 2018.
Who led Thought Machine's Series A round?
Lloyds Banking Group led it.
What was Thought Machine's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
890 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 1.8 times the median.
Did Thought Machine raise again after this round?
Yes: a Series B round in Jul 2020 of $125M.