Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Pipe raises $250 million in funding at $2 billion valuation

Published 05/19/2021, 09:21 AM
Updated 05/19/2021, 10:05 AM
© Reuters.

(Reuters) -Pipe, a startup that lets companies sell their recurring revenue streams on its platform, said on Wednesday it had raised $250 million at a valuation of $2 billion.

The latest funding round was led by venture capital firm Greenspring Associates and included new investors such as Morgan Stanley (NYSE:MS)'s investment arm Counterpoint Global, SBI Investment and CreditEase FinTech Investment Fund.

Dubbed the "NASDAQ for revenue," Miami, Florida-based Pipe operates a trading platform that connects investors with companies seeking to raise capital without dilution. It was founded in 2019 by Harry Hurst, Josh Mangel and Zain Allarakhia.

More than 4,000 companies have signed up on the company's trading platform since its June 2020 launch.

Pipe's latest funding round was oversubscribed by $100 million, with existing investors such as Salesforce.com (NYSE:CRM) Chief Executive Officer Marc Benioff's investment fund TIME Ventures and Reddit co-founder Alexis Ohanian's venture capital firm Seven Seven Six also taking part in the raise.

The company said it planned to use the funding to bolster its platform and expand its product offering.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.