Total amount raised
$665 Millions
Latest funding date
11/01/2024
Location
OneStream Software has successfully raised $465 million in its latest Post-IPO Secondary funding round, aiming for a valuation of $4.38 billion. The company has attracted significant investment from notable firms such as D1 Capital Partners, Tiger Global Management, and Kohlberg Kravis Roberts (KKR).
Keep reading to explore the intricacies of OneStream Software's fundraising journey and the investors backing this innovative platform.
What Is OneStream Software?
OneStream Software, founded in 2010 by Robert Powers and Tom Shea, is an independent software company based in Rochester, Michigan. The company specializes in financial planning and analysis software, providing a unified platform for data management, financial consolidation, planning, reporting, analytics, and machine learning.
Operating within the Information Technology and Software industries, OneStream Software has grown significantly, employing between 1001 and 5000 people. The company serves various sectors, including financial services, government, healthcare, higher education, and manufacturing, and is publicly traded on NASDAQ under the symbol OS.
How Much Funding Has OneStream Software Raised?
- Series B
- Amount Raised: $200M
- Date: April 2021
- Lead Investors: D1 Capital Partners, Tiger Global, Investment Group of Santa Barbara
- Valuation at Round: $6 billion
- Motivation Behind the Round: To accelerate global expansion and innovation across its intelligent finance platform and solutions marketplace.
- Post-IPO Secondary
- Amount Raised: $465M
- Date: November 2024
- Lead Investors: D1 Capital Partners, Tiger Global Management, and one more investor
- Valuation at Round: $4.38 billion
- Motivation Behind the Round: To support continued growth and expansion as the company prepares for an IPO.
Total amount raised: $665M. Current valuation: $4.38 billion.
Key Investors
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. Founded in 2018 by Daniel Sundheim, it focuses on high-growth companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: SpaceX, Stripe, Robinhood.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. It is known for its significant investments in technology-driven companies.
- Investment Focus Areas: Global Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Kohlberg Kravis Roberts (KKR)
- Details: KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. It has been a majority owner of OneStream since 2019.
- Investment Focus Areas: Private equity, energy, infrastructure, real estate, credit.
- Notable Investments: First Data, GoDaddy, Lyft.
- Investment Group of Santa Barbara (IGSB)
- Details: IGSB is a private investment firm that participated in OneStream's Series B funding round. Specific details about the firm are limited.
- Investment Focus Areas: Technology, healthcare, real estate.
- Notable Investments: Not publicly disclosed.
What's Next for OneStream Software?
OneStream Software stands at the cusp of significant opportunities, driven by the increasing demand for digital transformation in financial operations. The company is poised to expand its toolkit of services, potentially venturing into the Asia Pacific region and extending its offerings beyond finance to areas like HR, IT, and supply chain management. This expansion could be monumental, given the company's current valuation of $6 billion and its impressive growth metrics, including an 85% increase in annual recurring revenue in 2020.
Future fundraising opportunities appear promising as OneStream prepares for an initial public offering (IPO). The involvement of major investors like D1 Capital Partners and Tiger Global suggests continued financial backing, which could further accelerate the company's global expansion and innovation. However, OneStream will need to navigate challenges such as competition from established players like SAP and Oracle, and the complexities of scaling operations globally while maintaining high growth rates and customer satisfaction.
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