Funding round
Vercel Series C
Vercel, which works in cloud infrastructure services in Covina, raised $102M in a Series C round announced on 23 Jun 2021, led by Bedrock and CRV, at a $1.10B post-money valuation. 12 firms took part, 6 of them already investors. It is Vercel's second venture round on record; the one before was a Series A in Apr 2020.
$102M
Amount raised
$1.10B
Post-money valuation
12
Investors
2 leads
9.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Vercel at $1.10B after the new money. The $102M bought investors about 9.3% of the company. It came 14 months after Vercel's Series A. It is 12% of the $823M Vercel has raised in the venture rounds on record. Vercel raised again 5 months later: a Series D round of $150M in Nov 2021, at $2.50B post-money.
Vercel's funding rounds
Vercel has 5 venture rounds on record. This one is highlighted.
- Series A 21 Apr 2020, led by Accel and CRV $21M
- Series C this round 23 Jun 2021, led by Bedrock and CRV $102M$1.10B post-money
- Series D 23 Nov 2021, led by GGV Capital $150M$2.50B post-money
- Series E 16 May 2024, led by Accel $250M$3.25B post-money
- Series F 30 Sep 2025, led by Accel and GIC $300M$9.30B post-money
Investors
Who put money in
Bedrock and CRV led the round with 10 other firms. Bedrock, CRV, Accel and Geodesic Capital and 2 more had backed Vercel before.
Lead investors
- backs 38 venture-backed companies existing investor
- CRV backs 177 venture-backed companies existing investor
Also in the round
- Accel backs 581 venture-backed companies existing investor
- Geodesic Capital backs 45 venture-backed companies existing investor
- Greenoaks Capital existing investor
- GV backs 428 venture-backed companies existing investor
- 8VC new investor
- backs 60 venture-backed companies new investor
- GGV new investor
- Latacora new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- Tiger Global 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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series C rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $110M, and this round was close to the median. The closest in time, other companies' Series C rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 12 May 2021 | $50M | not disclosed | Anatole Investment and Prospect Avenue Capital |
| Wasabi Hosting & Cloud Infrastructure Providers | 29 Apr 2021 | $112M | $700M | Fidelity Management & Research Company |
| Hosting & Cloud Infrastructure Providers | 4 Mar 2021 | $26M | not disclosed | Benhamou Global Ventures and STCAP Ventures |
| Hosting & Cloud Infrastructure Providers | 19 Oct 2021 | $60M | $2.00B | World Innovation Lab and Institutional Venture Partners |
| Hosting & Cloud Infrastructure Providers | 16 Nov 2021 | $50M | not disclosed | Kleiner Perkins |
| Hosting & Cloud Infrastructure Providers | 20 Dec 2021 | $110M | $1.40B | Thoma Bravo |
| Hosting & Cloud Infrastructure Providers | 26 Jan 2022 | $207M | $3.25B | Sapphire Ventures and Tiger Global |
| Kavak Hosting & Cloud Infrastructure Providers | 30 Sep 2020 | $385M | $1.15B | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Vercel raise in its Series C round?
Vercel raised $102M in its Series C round, announced in Jun 2021.
Who led Vercel's Series C round?
Bedrock and CRV led it, with Accel, Geodesic Capital, Greenoaks Capital, GV and 8VC and 5 more.
What was Vercel's valuation at the Series C round?
$1.10B post-money.
How does it compare with other Series C rounds in Hosting & Cloud Infrastructure Providers?
9 Series C rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $110M, and this round was close to the median.
Did Vercel raise again after this round?
Yes: a Series D round in Nov 2021 of $150M at $2.50B post-money.