Funding round
Trax Series D
Trax, which works in AI-Driven retail management solutions in Singapore, raised $100M in a Series D round announced on 23 Jul 2019, led by HOPU Investments, at a $1.10B post-money valuation. 5 firms took part. It is Trax's first venture round on record.
$100M
Amount raised
$1.10B
Post-money valuation
$1.00B pre-money
5
Investors
1 lead
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Trax at $1.10B after the new money. The $100M bought investors about 9.1% of the company. It is Trax's first venture round on record, 9 years after it was founded in 2010. It is 14% of the $740M Trax has raised in the venture rounds on record. Trax raised again 21 months later: a Series E round of $640M in Apr 2021.
Trax's funding rounds
Trax has 2 venture rounds on record. This one is highlighted.
- Series D this round 23 Jul 2019, led by HOPU Investments $100M$1.10B post-money
- Series E 7 Apr 2021, led by SoftBank Vision Fund and BlackRock, Inc. $640M
Investors
Who put money in
HOPU Investments led the round with 4 other firms.
Lead investor
- backs 4 venture-backed companies new investor
Also in the round
- Warburg Pincus backs 76 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- Investec new investor
- GIC backs 98 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and geographic expansion.
- Product development
- Geographic expansion
Comparable rounds
How it compares
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Gusto Tech Companies | 24 Jul 2019 | $200M | $3.80B | Fidelity Management & Research and Generation Investment Management |
| Tech Companies | 10 Jul 2019 | $70M | not disclosed | Bregal Sagemount |
| Patreon Tech Companies | 16 Jul 2019 | $60M | not disclosed | Glade Brook |
| Tech Companies | 23 Jul 2019 | $56M | not disclosed | Owl Rock Capital Partners and NextEquity Partners |
| Yanolja Tech Companies | 11 Jun 2019 | $180M | $1.00B | GIC and Booking Holdings |
| ShareChat Tech Companies | 15 Aug 2019 | $100M | $650M | |
| Wellhub Tech Companies | 12 Jun 2019 | $100M | $1.11B | SoftBank |
| Tech Companies | 25 Jun 2019 | $75M | not disclosed | JP Morgan Asset Management |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Trax raise in its Series D round?
Trax raised $100M in its Series D round, announced in Jul 2019.
Who led Trax's Series D round?
HOPU Investments led it, with Warburg Pincus, Boyu Capital, Investec and GIC.
What was Trax's valuation at the Series D round?
$1.10B post-money ($1.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.0 times the median.
Did Trax raise again after this round?
Yes: a Series E round in Apr 2021 of $640M.