Amount$60M
Post-money valuation$560M
SeriesSeries B
AnnouncedDec 21, 2015
SectorEnterprise, HR, Payroll, SMB
Strong
A strong, well-structured round.
Round size vs peers
Larger than the typical Series B round (2.1×).
Syndicate size
Healthy syndicate of 6 investors.
Insider conviction
5 existing investors re-upped — insiders doubling down.
Investor track record
A mix of established and emerging investors.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Series B rounds (996)
Round size distribution76th pct
smaller Series B roundslarger
Post-money valuation39th pct
$35Mthis round: $560M$2.6B
vs. Enterprise, HR, Payroll, SMB (7)
Round size in sector57th pct
$6Mthis round: $60M$200M
