Standard Cognition was founded in 2017 by Brandon Ogle, David Valdman, John Novak, Jordan Fisher, and Michael Suswal. The company has not publicly endorsed a plan to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Standard Cognition is developing an automated checkout system for retail stores. The system uses a network of AI-powered cameras to track shoppers within a store, automatically charging them for what they purchase without them having to wait in line as in a traditional checkout process. The company has raised $235 million in venture capital funding from investors including SoftBank Vision Fund 2, CRV, EQT Ventures, TI Platform Management,Initialized Capital, Charles River Ventures, Draper Associates, and SK Networks. In a press release, Standard Cognition announced that a $150 million funding round had increased its valuation to more than $1 billion, making it the first unicorn in the automated checkout industry.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
06/30/2021 | Series C | $178.27MM | $xx.xx | $1B | Crv, Eqt Ventures, Sk Networks, Softbank, The Garage Syndicate, Ti Platform Management | |
Price per Share
$xx.xx
Shares Outstanding
4,418,111
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
Crv, Eqt Ventures, Sk Networks, Softbank, The Garage Syndicate, Ti Platform Management
|
||||||
07/25/2019 | Series B | $35.04MM | $xx.xx | $535MM | Crv, Eqt Ventures, Initialized Capital, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
1,303,388
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Crv, Eqt Ventures, Initialized Capital, Y Combinator
|
||||||
11/15/2018 | Series A | $40MM | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
3,100,073
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-1 | $354,992.73 | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
521,205
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-2 | $445,988.91 | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
613,887
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-3 | $24,998.76 | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
30,587
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-4 | $99,999.81 | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
123,001
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-5 | $199,993.11 | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
129,546
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-6 | $1.07MM | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
657,612
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-7 | $3.41MM | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
1,880,189
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|
||||||
11/15/2018 | Series A-8 | $5.5MM | $xx.xx | $389.48MM | Capital, Crv, Draper Associates, Y Combinator | |
Price per Share
$xx.xx
Shares Outstanding
532,825
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capital, Crv, Draper Associates, Y Combinator
|