DailyPay was founded in 2015 by by Jason Lee and Robert Law. Following a $175 million round of Series D funding, CEO Lee discussed potential plans to take the company public, saying “like all high-growth tech companies, we are considering strategic alternatives, one of which could be an IPO." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
DailyPay helps organizations grant their employees early access to their paychecks, a service that is particularly important in low-wage and gig-based workplaces where employees are more likely to be living paycheck to paycheck. More than 300 companies use the service, including Burger King, DollarTree, Kroger, Berkshire Hathaway, Uber, and DoorDash.The recent round of Series D funding led by Carrick Capital Partners brought the company's total funding to more than $500 million. Other investors include RPM Ventures, Sand Hill Angels, and Fin Venture Capital. The funding round raised the company's post-money valuation to more than $1 billion.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
01/18/2024 | Series D-1 | $75.5MM | $xx.xx | $1.75B | Carrick Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
2,202,509
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
N/A
Key Investors
Carrick Capital Partners
|
||||||
05/18/2021 | Series D | $175MM | $xx.xx | $1.16B | Carrick Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
6,785,100
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
N/A
Key Investors
Carrick Capital Partners
|
||||||
12/31/2019 | Series C | $55.5MM | $xx.xx | $562.27MM | Fin Venture Capital | |
Price per Share
$xx.xx
Shares Outstanding
3,242,000
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Fin Venture Capital
|
||||||
06/29/2018 | Series B-2 | $2.03MM | $xx.xx | $161.2MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
380,000
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/29/2018 | Series B-1 | $7.36MM | $xx.xx | $161.2MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
2,780,000
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
02/15/2018 | Series B | $9.09MM | $xx.xx | $38.64MM | RPM Ventures, Inspiration Ventures, Draper Frontier | |
Price per Share
$xx.xx
Shares Outstanding
5,860,000
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
RPM Ventures, Inspiration Ventures, Draper Frontier
|
||||||
09/06/2016 | Series A-1 | $1.02MM | $xx.xx | $23.2MM | RPM Ventures, Inspiration Ventures, Draper Frontier | |
Price per Share
$xx.xx
Shares Outstanding
1,000,000
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
RPM Ventures, Inspiration Ventures, Draper Frontier
|
||||||
09/06/2016 | Series A | $5MM | $xx.xx | $23.2MM | RPM Ventures, Inspiration Ventures, Draper Frontier | |
Price per Share
$xx.xx
Shares Outstanding
4,896,140
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
RPM Ventures, Inspiration Ventures, Draper Frontier
|
||||||
10/31/2015 | Series Seed | $1.5MM | $xx.xx | $7.5MM | Meyer Ventures | |
Price per Share
$xx.xx
Shares Outstanding
3,191,480
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Meyer Ventures
|