Funding round
Vercel Series D
Vercel, which works in cloud infrastructure services in Covina, raised $150M in a Series D round announced on 23 Nov 2021, led by GGV Capital, at a $2.50B post-money valuation. 13 firms took part, 12 of them already investors. It is Vercel's third venture round on record; the one before was a Series C in Jun 2021.
$150M
Amount raised
$2.50B
Post-money valuation
13
Investors
1 lead
2.3x
Step-up from the Series C
$1.10B in Jun 2021
6.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Vercel at $2.50B after the new money, 2.3 times the $1.10B of its Series C (Jun 2021). The $150M bought investors about 6.0% of the company. It came 5 months after Vercel's Series C. It is 18% of the $823M Vercel has raised in the venture rounds on record. Vercel raised again 30 months later: a Series E round of $250M in May 2024, at $3.25B 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 23 Jun 2021, led by Bedrock and CRV $102M$1.10B post-money
- Series D this round 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
GGV Capital led the round with 12 other firms. GGV Capital, Accel, Bedrock and CRV and 8 more had backed Vercel before.
Lead investor
- GGV Capital existing investor
Also in the round
- Accel backs 581 venture-backed companies existing investor
- backs 38 venture-backed companies existing investor
- CRV backs 177 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 existing investor
- backs 60 venture-backed companies existing investor
- Latacora existing investor
- Salesforce Ventures backs 314 venture-backed companies existing investor
- Tiger Global existing investor
- SV Angel backs 293 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series D rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 17 Nov 2021 | $105M | $2.00B | Bessemer Venture Partners |
| Hosting & Cloud Infrastructure Providers | 11 May 2022 | $210M | not disclosed | Eurazeo |
| Kavak Hosting & Cloud Infrastructure Providers | 7 Apr 2021 | $485M | $4.00B | D1 Capital Partners and Founders Fund |
| Hosting & Cloud Infrastructure Providers | 21 Jun 2022 | $140M | not disclosed | Yttrium and Morgan Stanley |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Vercel raise in its Series D round?
Vercel raised $150M in its Series D round, announced in Nov 2021.
Who led Vercel's Series D round?
GGV Capital led it, with Accel, Bedrock, CRV, Geodesic Capital and Greenoaks Capital and 7 more.
What was Vercel's valuation at the Series D round?
$2.50B post-money.
Did Vercel raise again after this round?
Yes: a Series E round in May 2024 of $250M at $3.25B post-money.