Amount$425M
Post-money valuation$5.5B
SeriesSeries D
AnnouncedOct 18, 2021
SectorPayroll, Fintech, Payments, Remote, Enterprise, HR
Strong
A strong, well-structured round.
Round size vs peers
Far above the typical Series D round (5.4× the median) — an outlier.
Syndicate size
Healthy syndicate of 6 investors.
Insider conviction
4 existing investors re-upped — insiders doubling down.
Investor track record
Backed by established, high-track-record investors.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Series D rounds (1,000)
Round size distribution92th pct
smaller Series D roundslarger
Post-money valuation88th pct
$65Mthis round: $5.5B$6B
vs. Payroll, Fintech, Payments, Remote, Enterprise, HR (5)
Round size in sector100th pct
$14Mthis round: $425M$156M
