Amount$40M
Post-money valuation$1.6B
SeriesSecondary Transaction
AnnouncedMay 15, 2024
Revenue multiple16.0×
Valuation step-up1.0×
Time since last round462 mo
SectorComputing, Data, Storage, Software Defined (SD), Enterprise
Sub-sectorArtificial Intelligence, Machine Learning
Solid
A solid round with healthy fundamentals.
Round size vs peers
Smaller than the typical Secondary Transaction round.
Syndicate size
Party round (13 investors) — diffuse ownership and signal.
Insider conviction
13 existing investors re-upped — insiders doubling down.
Investor track record
A mix of established and emerging investors.
Valuation step-up
1.0× valuation step-up.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Secondary Transaction rounds (26)
Round size distribution27th pct
smaller Secondary Transaction roundslarger
Post-money valuation65th pct
$33Mthis round: $1.6B$2.6B
vs. Computing, Data, Storage, Software Defined (SD), Enterprise (7)
Round size in sector57th pct
$10Mthis round: $40M$135M
