Funding round
Trax Series E
Trax, which works in AI-Driven retail management solutions in Singapore, raised $640M in a Series E round announced on 7 Apr 2021, led by SoftBank Vision Fund and BlackRock, Inc.. 8 firms took part, 2 of them already investors. It is Trax's second venture round on record; the one before was a Series D in Jul 2019.
$640M
Amount raised
Not disclosed
Post-money valuation
8
Investors
2 leads
Valuation
What this round says about the price
Trax did not disclose a valuation in this round; its last disclosed one was $1.10B at the Series D (Jul 2019). It came 21 months after Trax's Series D. It is 86% of the $740M Trax has raised in the venture rounds on record. No later venture round is on record for Trax.
Trax's funding rounds
Trax has 2 venture rounds on record. This one is highlighted.
- Series D 23 Jul 2019, led by HOPU Investments $100M$1.10B post-money
- Series E this round 7 Apr 2021, led by SoftBank Vision Fund and BlackRock, Inc. $640M
Investors
Who put money in
SoftBank Vision Fund and BlackRock, Inc. led the round with 6 other firms. BlackRock, Inc. and OMERS had backed Trax before.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- BlackRock, Inc. existing investor
Also in the round
- OMERS existing investor
- backs 83 venture-backed companies new investor
- Warburg Pincus backs 76 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- Investec Bank 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 hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
120 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 4.8 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 7 Apr 2021 | $350M | not disclosed | Prosus and TPG |
| Tech Companies | 15 Apr 2021 | $205M | $1.34B | Owl Rock Capital |
| Tech Companies | 14 Apr 2021 | $200M | $4.00B | Sequoia Capital |
| Clio Tech Companies | 27 Apr 2021 | $110M | $1.60B | T. Rowe Price Associates, Inc. and OMERS Private Equity |
| Tech Companies | 22 Apr 2021 | $50M | $1.00B | not named |
| Contentsquare Tech Companies | 25 May 2021 | $500M | $2.80B | SoftBank Vision Fund |
| Attentive Tech Companies | 9 Mar 2021 | $470M | $7.00B | not named |
| Tech Companies | 16 Mar 2021 | $300M | $1.00B | SoftBank Vision Fund and Tencent Investment |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Trax raise in its Series E round?
Trax raised $640M in its Series E round, announced in Apr 2021.
Who led Trax's Series E round?
SoftBank Vision Fund and BlackRock, Inc. led it, with OMERS, Sony Innovation Fund, Warburg Pincus, Boyu Capital and Investec Bank and 1 more.
What was Trax's valuation at the Series E round?
It was not disclosed; its last disclosed one was $1.10B at the Series D (Jul 2019).
How does it compare with other Series E rounds in Tech Companies?
120 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $134M, and this round was 4.8 times the median.