Funding round
Thought Machine Series D
Thought Machine, which works in core banking platform development in London, raised $160M in a Series D round announced on 18 May 2022, led by Temasek, at a $2.70B post-money valuation. 8 firms took part, 7 of them already investors. It is Thought Machine's fourth venture round on record; the one before was a Series C in Nov 2021.
$160M
Amount raised
$2.70B
Post-money valuation
8
Investors
1 lead
2.7x
Step-up from the Series C
$1.00B in Nov 2021
5.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Thought Machine at $2.70B after the new money, 2.7 times the $1.00B of its Series C (Nov 2021). The $160M bought investors about 5.9% of the company. It came 6 months after Thought Machine's Series C. It is 32% of the $499M Thought Machine has raised in the venture rounds on record. No later venture round is on record for Thought Machine.
Thought Machine's funding rounds
Thought Machine has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Temasek led the round with 7 other firms. Temasek, Intesa Sanpaolo, Eurazeo and ING Ventures and 3 more had backed Thought Machine before.
Lead investor
- Temasek backs 195 venture-backed companies existing investor
Also in the round
- Intesa Sanpaolo existing investor
- Morgan Stanley backs 120 venture-backed companies new investor
- Eurazeo backs 103 venture-backed companies existing investor
- ING Ventures existing investor
- JPMorgan Chase existing investor
- Lloyds Banking Group existing investor
- SEB existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
198 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.6 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rippling Tech Companies | 11 May 2022 | $250M | $11.25B | Bedrock and Kleiner Perkins |
| Tech Companies | 6 May 2022 | $200M | not disclosed | Tiger Global |
| Tech Companies | 8 May 2022 | $182M | $1.40B | not named |
| Cribl Tech Companies | 24 May 2022 | $150M | $2.50B | Tiger Global Management |
| Tech Companies | 24 May 2022 | $135M | $1.60B | Institutional Venture Partners |
| Tech Companies | 17 May 2022 | $100M | $1.10B | Thoma Bravo |
| Tech Companies | 16 May 2022 | $100M | $1.30B | Insight Partners |
| Tech Companies | 25 May 2022 | $100M | $8.00B | Greenoaks and Coatue |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Thought Machine raise in its Series D round?
Thought Machine raised $160M in its Series D round, announced in May 2022.
Who led Thought Machine's Series D round?
Temasek led it, with Intesa Sanpaolo, Morgan Stanley, Eurazeo, ING Ventures and JPMorgan Chase and 2 more.
What was Thought Machine's valuation at the Series D round?
$2.70B post-money.
How does it compare with other Series D rounds in Tech Companies?
198 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.6 times the median.