Total amount raised
$79.4 Million
Latest funding date
8/1/2020
Location
Mode has raised funding over 4 rounds, with notable investments from Google Ventures and New Enterprise Associates. The latest funding was secured through a Series B round, highlighting the company's growth trajectory.
Mode's platform serves as a central hub for organizational analysis, offering capabilities such as ad hoc analysis, advanced analytics, and interactive dashboards. Keep reading to explore the intricacies of Mode's fundraising journey and the investors backing this innovative platform.
What Is Mode?
Mode operates in the software-defined core network (SD-CORE) industry and is based in San Francisco, California. The company had an employee count of 11-50 before it was marked as permanently closed. Mode was known for its real-time network control breakthroughs and had raised funding over four rounds, with notable investors including Google Ventures and New Enterprise Associates.
Mode Analytics, on the other hand, specializes in modern business intelligence (BI) solutions. The platform unites data teams and business teams to drive business outcomes through features like Ad Hoc Analysis, Advanced Analytics, and Interactive Dashboards. Mode Analytics aims to make data accessible and actionable for all users within an organization.
How Much Funding Has Mode Raised?
- Series B
- Amount Raised: USD 16,000,000
- Date: June 2018
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of Mode's autonomously controlled networks and their Mode Core product.
- Grant
- Amount Raised: USD 1,399,999
- Date: March 2016
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development efforts in network technology.
- Series A
- Amount Raised: USD 6,750,000
- Date: November 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the growth and market reach of Mode's SD-CORE technology.
- Grant
- Amount Raised: USD 150,000
- Date: December 2014
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development in network control technologies.
Total Amount Raised: USD 24,299,999. Current Valuation: Not publicly disclosed.
Key Investors
- Google Ventures
- Details: Google Ventures, now known as GV, is the venture capital investment arm of Alphabet Inc. It focuses on funding technology companies and has a strong presence in the venture capital landscape.
- Investment Focus Areas: Technology, software, hardware, life sciences, clean technology
- Notable Investments: Uber, Slack, Medium
- New Enterprise Associates
- Details: New Enterprise Associates (NEA) is a global venture capital firm that invests in technology and healthcare companies. It has a long history of successful investments and a large portfolio.
- Investment Focus Areas: Technology, healthcare, software, consumer products, energy
- Notable Investments: Coursera, Robinhood, Duolingo
- National Science Foundation
- Details: The National Science Foundation (NSF) is a United States government agency that supports fundamental research and education in all the non-medical fields of science and engineering. It provides grants to promote scientific progress.
- Investment Focus Areas: Science, engineering, education
- Notable Investments: Not publicly disclosed
What's Next for Mode?
Mode's future is brimming with opportunities, particularly in the realm of software-defined core networks (SD-CORE). Their technology, which supports applications like SD-WAN, Cloud Access, and Ultra Low Latency applications, positions them well to tap into a broad market. The demand for reliable and affordable private network solutions is on the rise, driven by trends in cloud computing and real-time applications.
Given the successful Series B funding round led by GV, Mode is well-poised for future fundraising opportunities. The involvement of high-profile investors suggests that additional rounds of funding could be on the horizon, enabling further development and market expansion. However, Mode will need to navigate challenges such as competition from other SDN providers and the necessity for continuous innovation to stay ahead in the rapidly evolving tech landscape.
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