Total amount raised
$570 Million
Latest funding date
11/1/2015
Location
Jet has successfully raised funding through five rounds, with notable investors including Alibaba Capital Partners and Google Ventures. The latest funding was secured from a Venture - Series Unknown round.
Keep reading to explore the intricacies of Jet's fundraising journey and the investors backing this innovative platform.
What Is Jet?
Jet, an e-commerce platform based in Hoboken, New Jersey, operates in the e-commerce, marketing, retail, and retail technology industries. The company has been acquired by Walmart and has raised significant funding over multiple rounds.
With an employee count ranging from 1001 to 5000, Jet has made several acquisitions, including companies like ModCloth and Hayneedle. The platform allows members to shop online from various retailers, enhancing their shopping experience through innovative technology.
How Much Funding Has Jet Raised?
- Series A
- Amount Raised: USD 55,000,000
- Date: July 2014
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of Jet's e-commerce platform.
- Series A
- Amount Raised: USD 20,000,000
- Date: September 2014
- Lead Investors: Western Technology Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and prepare for a larger market launch.
- Debt Financing
- Amount Raised: USD 5,000,000
- Date: September 2014
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for operational expenses.
- Series B
- Amount Raised: USD 140,000,000
- Date: February 2015
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Nearly USD 600,000,000
- Motivation Behind the Round: To support the launch and growth of Jet's online marketplace, aiming to undercut competitors like Amazon.
- Series Unknown
- Amount Raised: USD 350,000,000
- Date: November 2015
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand Jet's market presence and enhance its technological capabilities.
Total Amount Raised: USD 570,000,000. Current Valuation: Nearly USD 600,000,000.
Key Investors
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its investment management and financial planning services. It has a significant presence in the mutual fund and brokerage sectors.
- Investment Focus Areas: E-commerce, technology, financial services.
- Notable Investments: Not publicly disclosed.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital, focusing on early to growth-stage investments. It has a strong track record in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, financial services, consumer/retail.
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey.
- Silicon Valley Bank
- Details: Silicon Valley Bank provides financial services and investments primarily to technology, life sciences, and other innovation sectors. It is known for supporting startups and growth companies.
- Investment Focus Areas: Technology, life sciences, venture capital.
- Notable Investments: Not publicly disclosed.
- Western Technology Investment
- Details: Western Technology Investment specializes in venture debt and equity investments in technology and life sciences. It has supported numerous high-profile companies.
- Investment Focus Areas: Technology, life sciences.
- Notable Investments: Facebook, Google, YouTube.
- New Enterprise Associates
- Details: New Enterprise Associates is a global venture capital firm that invests in technology and healthcare sectors across all stages of a company's lifecycle. It has a diverse portfolio of successful companies.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: 23andMe, Robinhood, Coursera.
What's Next for Jet?
Jet stands on the brink of a significant opportunity, with its valuation nearing $600 million even before its official launch. This high valuation reflects investor confidence and the potential for rapid market entry. The company's innovative pricing model, which dynamically adjusts prices in real-time, positions it to undercut competitors like Amazon, offering substantial cost savings to customers.
Future fundraising opportunities appear promising, given the recent successful closure of $140 million in new funding. As Jet continues to grow and demonstrate its market potential, it is likely to attract further investment. However, the company may face challenges such as intense competition from established e-commerce giants and the need to scale operations effectively to meet market demand.
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