Pipe is branching out into another new vertical, while at the same time making its first acquisition in picking up London-based Purely Capital, a media and entertainment financing company. Pipe has raised a total of $316M ($250M round last May), valuing the company at $2B.
Tech companies with recurring revenue that want to avoid venture capital have had a growing amount of choices in the past few years. Miami-based Pipe is now looking to bring that business model to the entertainment world.
Dubbed the “NASDAQ for revenue,” Miami, Florida-based Pipe operates a trading platform that connects investors with companies seeking to raise capital without dilution. More than 4,000 companies have signed up on the company’s trading platform since its June 2020 launch.