Funding round
Weee! Series E
Weee!, which works in asian grocery retail and delivery in Fremont, raised $425M in a Series E round announced on 28 Feb 2022, led by SoftBank Vision Fund, at a $4.10B post-money valuation. 13 firms took part. It is Weee!'s fourth venture round on record; the one before was a Series D in Mar 2021.
$425M
Amount raised
$4.10B
Post-money valuation
$3.67B pre-money
13
Investors
1 lead
1.5x
Step-up from the Series D
$2.80B in Mar 2021
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Weee! at $4.10B after the new money, 1.5 times the $2.80B of its Series D (Mar 2021). The $425M bought investors about 10% of the company. It came 11 months after Weee!'s Series D. It is 52% of the $825M Weee! has raised in the venture rounds on record. No later venture round is on record for Weee!.
Weee!'s funding rounds
Weee! has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund led the round with 12 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Greyhound Capital new investor
- Blackstone backs 83 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Khaira Capital new investor
- backs 5 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- SoftBank
Joined the board: Lydia Jett (SoftBank Investment Advisors).
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, working capital and hiring.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
- Hiring
Comparable rounds
How it compares
The closest in time: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Flexport Trucking and Logistics | 7 Feb 2022 | $935M | $8.00B | Andreessen Horowitz and BDT & MSD Partners |
| Uniphore Tech Companies | 16 Feb 2022 | $400M | $2.50B | New Enterprise Associates |
| ElasticRun Warehousing & Storage | 17 Feb 2022 | $330M | $1.50B | SoftBank Vision Fund and Goldman Sachs Asset Management |
| Somatus Home Health Care | 23 Feb 2022 | $325M | $2.50B | Wellington Management Company |
| Synthego Pharmaceutical Products | 17 Feb 2022 | $200M | not disclosed | Perceptive Advisors |
| General Retail & Merchandise | 17 Feb 2022 | $45M | $1.70B | Abu Dhabi Investment Authority |
| Groceries Delivery | 17 Mar 2022 | $768M | $11.80B | Mubadala |
| Fireblocks Software Development Services | 27 Jan 2022 | $550M | $8.00B | D1 Capital Partners and Spark Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Weee! raise in its Series E round?
Weee! raised $425M in its Series E round, announced in Feb 2022.
Who led Weee!'s Series E round?
SoftBank Vision Fund led it, with Greyhound Capital, Blackstone, Lightspeed Venture Partners, Tiger Global and Khaira Capital and 7 more.
What was Weee!'s valuation at the Series E round?
$4.10B post-money ($3.67B pre-money).