Funding round
XpressBees Series F
XpressBees, which works in logistics solutions development in Pune, raised $300M in a Series F round announced on 9 Feb 2022, led by Blackstone, TPG and ChrysCapital, at a $1.20B post-money valuation. 8 firms took part, 8 of them already investors. It is XpressBees' third venture round on record; the one before was a Series E in Nov 2020.
$300M
Amount raised
$1.20B
Post-money valuation
$900M pre-money
8
Investors
3 leads
25%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced XpressBees at $1.20B after the new money. The $300M bought investors about 25% of the company. It came 15 months after XpressBees' Series E. It is 56% of the $540M XpressBees has raised in the venture rounds on record. XpressBees raised again 14 months later: a Growth round of $40M in Apr 2023, at $1.20B post-money.
XpressBees' funding rounds
XpressBees has 5 venture rounds on record. This one is highlighted.
- Series D 2 Jan 2020 $10M
- Series E 10 Nov 2020, led by Investcorp, Norwest and Gaja Capital $110M
- Series F this round 9 Feb 2022, led by Blackstone, TPG and ChrysCapital $300M$1.20B post-money
- Growth 27 Apr 2023, led by Khazanah Nasional $40M$1.20B post-money
- Series G 7 Nov 2023, led by Ontario Teachers’ Pension Plan $80M$1.40B post-money
Investors
Who put money in
Blackstone, TPG and ChrysCapital led the round with 5 other firms. Blackstone, TPG, ChrysCapital and Investcorp and 4 more had backed XpressBees before.
Lead investors
- Blackstone backs 83 venture-backed companies existing investor
- TPG backs 114 venture-backed companies existing investor
- backs 8 venture-backed companies existing investor
Also in the round
- backs 18 venture-backed companies existing investor
- Norwest backs 215 venture-backed companies existing investor
- backs 79 venture-backed companies existing investor
- Alibaba existing investor
- backs 21 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bloomreach Tech Companies | 23 Feb 2022 | $175M | $2.20B | Goldman Sachs Asset Management and Goldman Sachs |
| Acorns Investment Consultants & Financial Advisors | 9 Mar 2022 | $300M | $1.90B | TPG |
| Creditas Loans & Financing | 25 Jan 2022 | $260M | $4.80B | Fidelity Management and Research Company |
| Moglix Industrial Machinery & Supplies | 28 Jan 2022 | $250M | $2.60B | Tiger Global and Alpha Wave Global |
| Highspot Tech Companies | 13 Jan 2022 | $248M | $3.50B | B Capital and D1 Capital Partners |
| Lyra Health Psychologists & Counseling Services | 19 Jan 2022 | $235M | $5.90B | Dragoneer Investment Group |
| Clari Tech Companies | 19 Jan 2022 | $225M | $2.60B | Blackstone |
| Employment Agencies & HR Consulting | 19 Jan 2022 | $200M | $3.50B | Coatue and Valiant Peregrine |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did XpressBees raise in its Series F round?
XpressBees raised $300M in its Series F round, announced in Feb 2022.
Who led XpressBees' Series F round?
Blackstone, TPG and ChrysCapital led it, with Investcorp, Norwest, Elevation Capital, Alibaba and CDH Investments.
What was XpressBees' valuation at the Series F round?
$1.20B post-money ($900M pre-money).
Did XpressBees raise again after this round?
Yes: a Growth round in Apr 2023 of $40M at $1.20B post-money.