Funding round
TIER Series D
TIER, which works in micro-mobility services in London, raised $200M in a Series D round announced on 25 Oct 2021, led by SoftBank Vision Fund and Mubadala Capital, at a $2.00B post-money valuation. 10 firms took part, 7 of them already investors. It is TIER's second venture round on record; the one before was a Series C in Nov 2020.
$200M
Amount raised
$2.00B
Post-money valuation
$1.80B pre-money
10
Investors
2 leads
2.0x
Step-up from the Series C
$1.00B in Nov 2020
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced TIER at $2.00B after the new money, 2.0 times the $1.00B of its Series C (Nov 2020). The $200M bought investors about 10% of the company. It came 11 months after TIER's Series C. It is 44% of the $450M TIER has raised in the venture rounds on record. No later venture round is on record for TIER.
TIER's funding rounds
TIER has 2 venture rounds on record. This one is highlighted.
- Series C 10 Nov 2020, led by SoftBank Vision Fund and Softbank $250M$1.00B post-money
- Series D this round 25 Oct 2021, led by SoftBank Vision Fund and Mubadala Capital $200M$2.00B post-money
Investors
Who put money in
SoftBank Vision Fund and Mubadala Capital led the round with 8 other firms. SoftBank Vision Fund, Mubadala Capital, RTP Global and Novator and 3 more had backed TIER before.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
- Mubadala Capital backs 61 venture-backed companies existing investor
Also in the round
- M&G Investments new investor
- backs 8 venture-backed companies new investor
- backs 99 venture-backed companies existing investor
- Novator existing investor
- backs 61 venture-backed companies existing investor
- backs 104 venture-backed companies existing investor
- Speedinvest backs 186 venture-backed companies existing investor
- Goodwater Capital backs 162 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, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Car Rental, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Car Rental | 14 Oct 2022 | $16M | not disclosed | redalpine |
| Devoted Health Insurance - Agents, Carriers & Brokers | 8 Oct 2021 | $1.20B | $12.70B | not named |
| Thrasio Online Marketplace | 25 Oct 2021 | $1.00B | not disclosed | Silver Lake and Advent International |
| Deel Software Development Services | 18 Oct 2021 | $425M | $5.50B | Coatue |
| Bolt Payment Processing & Point of Sale | 13 Oct 2021 | $393M | $6.00B | not named |
| Dutchie Tech Companies | 14 Oct 2021 | $350M | $3.75B | D1 Capital Partners |
| Medable Tech Companies | 27 Oct 2021 | $304M | $2.10B | Blackstone and Tiger Global |
| Insurance - Agents, Carriers & Brokers | 27 Oct 2021 | $255M | $1.10B | General Atlantic and Multiples |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did TIER raise in its Series D round?
TIER raised $200M in its Series D round, announced in Oct 2021.
Who led TIER's Series D round?
SoftBank Vision Fund and Mubadala Capital led it, with M&G Investments, Mountain Partners, RTP Global, Novator and White Star Capital and 3 more.
What was TIER's valuation at the Series D round?
$2.00B post-money ($1.80B pre-money).