May Private Market Update
| Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
|---|---|---|---|---|---|---|
| 08/13/2021 | Series G | $1.1B | $xx.xx | $24.93B | Dragoneer Investment Group, General Atlantic, Sequoia Capital, Softbank, Tiger Global Management | |
|
Price per Share
$xx.xx
Shares Outstanding
15,998,308
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
Dragoneer Investment Group, General Atlantic, Sequoia Capital, Softbank, Tiger Global Management
|
||||||
| 09/18/2020 | Series F | $600MM | $xx.xx | $14.5B | Access Technology Ventures, Coatue Management, Dragoneer Investment Group, Dst Global, General Atlantic, Iconiq Capital, Tiger Global Management, Whale Rock Capital Management | |
|
Price per Share
$xx.xx
Shares Outstanding
14,662,469
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
Access Technology Ventures, Coatue Management, Dragoneer Investment Group, Dst Global, General Atlantic, Iconiq Capital, Tiger Global Management, Whale Rock Capital Management
|
||||||
| 12/06/2019 | Series E | $700MM | $xx.xx | $5.8B | Coatue Management, Dragoneer Investment Group, Dst Global, General Atlantic, Iconiq Capital, Menlo Ventures | |
|
Price per Share
$xx.xx
Shares Outstanding
40,551,970
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
Coatue Management, Dragoneer Investment Group, Dst Global, General Atlantic, Iconiq Capital, Menlo Ventures
|
||||||
| 03/05/2019 | Series D | $400.67MM | $xx.xx | $1.5B | Cathay Innovation, Coatue Management, Dragoneer Investment Group, Dst Global, Forerunner Ventures, General Atlantic, Iconiq Capital, Menlo Ventures | |
|
Price per Share
$xx.xx
Shares Outstanding
76,687,100
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
Cathay Innovation, Coatue Management, Dragoneer Investment Group, Dst Global, Forerunner Ventures, General Atlantic, Iconiq Capital, Menlo Ventures
|
||||||
| 05/31/2018 | Series C-1 | $1.64MM | $xx.xx | $500MM | Aspect Ventures, Cathay Innovation, Crosslink Capital, Forerunner Ventures, Menlo Ventures, Northwestern Mutual Capital, Omidyar Network | |
|
Price per Share
$xx.xx
Shares Outstanding
770,230
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
Aspect Ventures, Cathay Innovation, Crosslink Capital, Forerunner Ventures, Menlo Ventures, Northwestern Mutual Capital, Omidyar Network
|
||||||
| 05/31/2018 | Series C | $67.39MM | $xx.xx | $500MM | Aspect Ventures, Cathay Innovation, Crosslink Capital, Forerunner Ventures, Menlo Ventures, Northwestern Mutual Capital, Omidyar Network | |
|
Price per Share
$xx.xx
Shares Outstanding
31,700,221
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
Aspect Ventures, Cathay Innovation, Crosslink Capital, Forerunner Ventures, Menlo Ventures, Northwestern Mutual Capital, Omidyar Network
|
||||||
| 09/27/2017 | Series B | $13.58MM | $xx.xx | $61.33MM | Aspect Ventures, Cathay Innovation, Clocktower Technology Ventures, Crosslink Capital, Forerunner Ventures, Homebrew, Northwestern Mutual Future Ventures, Omidyar Network | |
|
Price per Share
$xx.xx
Shares Outstanding
28,863,992
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Aspect Ventures, Cathay Innovation, Clocktower Technology Ventures, Crosslink Capital, Forerunner Ventures, Homebrew, Northwestern Mutual Future Ventures, Omidyar Network
|
||||||
| 05/19/2016 | Series A-2 | $4.68MM | $xx.xx | $23.27MM | Aspect Ventures, Crosslink Capital, Forerunner Ventures, Homebrew, Pivotnorth Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
18,051,770
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Aspect Ventures, Crosslink Capital, Forerunner Ventures, Homebrew, Pivotnorth Capital
|
||||||
| 11/04/2014 | Series A | $6.22MM | $xx.xx | $17.04MM | Crosslink Capital, Forerunner Ventures, Homebrew, Pivotnorth Capital | |
|
Price per Share
$xx.xx
Shares Outstanding
22,879,812
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Crosslink Capital, Forerunner Ventures, Homebrew, Pivotnorth Capital
|
||||||
| 08/23/2013 | Series Seed | $1.45MM | $xx.xx | $7.26MM | Forerunner Ventures, Homebrew, Irish Angels, Pivotnorth Capital, Zpark Venture | |
|
Price per Share
$xx.xx
Shares Outstanding
8,447,522
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Forerunner Ventures, Homebrew, Irish Angels, Pivotnorth Capital, Zpark Venture
|
||||||
A quiet stretch in tech IPOs occurred in April and early May following the U.S. enactment of tariffs and the ensuing market volatility. In the last week, public market activity has started showing signs of life again.
| Last Funding Round | ||||||||
|---|---|---|---|---|---|---|---|---|
| Company | Forge Price | Forge Price Change 5 | Last Closed Trade | Share Class | Post-Money Valuation | Price per Share | Amount Raised | |
 | Akulaku | -- | -- | $xx.xx | -- | -- | -- | -- |
 | Brex | $9.75 | -5.80% | $xx.xx | Series D-2 | $12.3B | $xx.xx | $300MM |
 | Cross River Bank | $35.00 | -12.50% | $xx.xx | Series D | -- | -- | -- |
 | Curve | -- | -- | $xx.xx | -- | -- | -- | -- |
 | Mercury | $132.06 | -0.05% | $xx.xx | Series C | $3.5B | $xx.xx | $242.55MM |
 | Ramp | $39.00 | -0.51% | $xx.xx | Series D-2 | $7.66B | $xx.xx | $156.11MM |
 | Starling Bank | -- | -- | $xx.xx | -- | -- | -- | -- |
 | Step | -- | -- | $xx.xx | Series C | $885.61MM | $xx.xx | $101.42MM |
 | Taptap Send | -- | -- | $xx.xx | Series C | -- | -- | -- |
 | Upgrade | $2.50 | +21.95% | $xx.xx | Series F | $6.28B | $xx.xx | $279.6MM |
Updated on: May 14, 2025
PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES
‘Stock Price’ or other private company metrics (‘PC Data’) may rely on a very limited number of trade and/or IOI inputs in their calculation. PC Data is prepared and disseminated solely for informational purposes. While Forge has obtained information from sources it believes to be reliable, Forge does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives. Forge does not guarantee the accuracy, completeness, timeliness, or availability of PC Data, and are not responsible for any errors or omissions, regardless of the cause, or any results obtained from the use of PC Data. PC Data is derived from the performance and pricing of secondary activity on the Forge platform and other private market trading platforms. PC Data is not intended to, and does not necessarily, represent the market price of any securities (I.e., the price at which you could buy or sell such securities). Reference to company names does not imply any affiliation between Forge and that company, any endorsement or sponsorship by Forge of any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge and any company. Rights with respect to any company marks referred to herein are owned by the company.
The news articles displayed on this page may be curated using artificial intelligence (AI) technology, which selects relevant content from a list of trusted web sources. While we strive for accuracy and reliability, the inclusion of an article does not imply endorsement or verification of its content. This communication is for informational purposes only. Investors should conduct their own research and consult a financial professional before making investment decisions.
Investing in private company securities is not suitable for all investors, is highly speculative, is high risk, and investors should be prepared to withstand a total loss of their investment. Private company securities are highly illiquid and there is no guarantee that a market will develop for such securities. Each investment carries its own risks, and investors should conduct their own due diligence regarding the investment, including obtaining independent professional advice. Past performance is not indicative of future results. This is not a recommendation, offer, solicitation of an offer, or advice to buy or sell securities by Forge, nor an offer of brokerage services in any jurisdiction where Forge is not permitted to offer brokerage services. Brokerage products and services are offered by Forge Securities LLC, a registered broker-dealer and member FINRA/SIPC. Please see other important disclaimers, disclosures and restrictions you acknowledge by using this website and to which you are subject.
