May Private Market Update
Cerebras Systems was founded in 2016 by Andrew Feldman, Gary Lauterbach, Jean-Philippe Fricker, Michael James, and Sean Lie. Cerebras has confidentially filed for an IPO estimated to occur in H2 2024.
Cerbras Systems is a machine-learning manufacturer that offers a custom software suite for workload scalability. Per Forge data, Cerebras Systems has raised a total of $715 million in funding over 6 rounds. The company’s latest funding was raised on Nov 10, 2021, from a Series F round. Key investors include Alpha Wave Ventures, Eclipse Ventures, Foundation Capital, and Benchmark.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
| Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
|---|---|---|---|---|---|---|
| 06/06/2024 | Series F-1 | $420MM | $xx.xx | $2.87B | Undisclosed Investors | |
|
Price per Share
$xx.xx
Shares Outstanding
28,649,385
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
||||||
| 11/10/2021 | Series F | $254.38MM | $xx.xx | $4.16B | Abu Dhabi Growth Fund, Alpha Wave Ventures, Altimeter Capital, Benchmark, Coatue, Eclipse Ventures, G42, Moore Strategic Ventures, Vy Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
9,168,419
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.9x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Abu Dhabi Growth Fund, Alpha Wave Ventures, Altimeter Capital, Benchmark, Coatue, Eclipse Ventures, G42, Moore Strategic Ventures, Vy Capital
|
||||||
| 11/25/2019 | Series E | $273.35MM | $xx.xx | $2.42B | Undisclosed Investors | |
|
Price per Share
$xx.xx
Shares Outstanding
14,916,649
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.3x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
||||||
| 11/14/2018 | Series D | $79.82MM | $xx.xx | $1.7B | Altimeter Capital, Benchmark, Coatue, Eclipse Ventures, Foundation Capital, Vy Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
4,943,849
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.1x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Altimeter Capital, Benchmark, Coatue, Eclipse Ventures, Foundation Capital, Vy Capital
|
||||||
| 08/31/2017 | Series C | $65MM | $xx.xx | $860.24MM | Altimeter Capital, Benchmark, Eclipse Ventures, Foundation Capital, Secquia Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
7,264,680
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Altimeter Capital, Benchmark, Eclipse Ventures, Foundation Capital, Secquia Capital
|
||||||
| 12/19/2016 | Series B | $25MM | $xx.xx | $249.79MM | Benchmark, Eclipse Ventures | |
|
Price per Share
$xx.xx
Shares Outstanding
9,076,079
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Benchmark, Eclipse Ventures
|
||||||
| 05/05/2016 | Series A | $26.97MM | $xx.xx | $67.43MM | Benchmark, Foundation Capital, Open Field Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
31,731,394
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Benchmark, Foundation Capital, Open Field Capital
|
||||||
With calendrical winter coming to an end in just over a month, the chilly IPO market could soon be much warmer. Literally and figuratively, the market is well-poised to enter an "IPO Spring," as Connor Group Managing Partner Jim Neesen called it in a recent Yahoo Finance interview.
This article was updated on October 4, 2024 following Cerebras' S-1 filing on September 30, 2024.
| Last Funding Round | ||||||||
|---|---|---|---|---|---|---|---|---|
| Company | Forge Price | Forge Price Change 5 | Last Closed Trade | Share Class | Post-Money Valuation | Price per Share | Amount Raised | |
 | Anduril | $42.52 | +42.78% | $xx.xx | Series G | $28B | $xx.xx | $2.58B |
 | Discord | $239.72 | +6.61% | $xx.xx | Series I | $15.2B | $xx.xx | $500MM |
 | Klarna | $37.31 | +21.02% | $xx.xx | Unknown | -- | -- | -- |
 | Kraken | $22.64 | +0.94% | $xx.xx | Series B | $5.52B | $xx.xx | $52.5MM |
 | Figure | $5.76 | +7.87% | $xx.xx | Series D | $3.33B | $xx.xx | $220MM |
 | Liquid Death | $9.00 | -6.25% | $xx.xx | Series F-1 | $1.4B | $xx.xx | $67.61MM |
 | Figma | $38.00 | +0.03% | $xx.xx | Series E | $10B | $xx.xx | $200MM |
 | Circle | $30.00 | +17.65% | $xx.xx | Series F | $8.05B | $xx.xx | $401MM |
 | Chime | $31.50 | +0.8% | $xx.xx | Series G | $24.93B | $xx.xx | $1.1B |
 | Netskope | $13.37 | +11.79% | $xx.xx | Series H | $7.5B | $xx.xx | $300MM |
Updated on: May 14, 2025
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