Total amount raised
$573.9 Million
Latest funding date
12/1/2021
Location
Planet has successfully raised a significant amount of funding over 11 rounds, with notable investors including Google and Koch Strategic Platforms. The company specializes in satellite imagery and Earth data analytics, offering a range of products and services to various industries.
Keep reading to explore the intricacies of Planet's fundraising journey and the investors backing this innovative platform.
What Is Planet?
Planet is an aerospace and data analytics company based in San Francisco, California. The company specializes in building small satellites and delivering information about the changing planet. With a workforce of 501-1000 employees, Planet has made significant strides in the Earth observation industry.
Founded to revolutionize satellite imagery and Earth data analytics, Planet serves a wide range of industries, including agriculture, defense, finance, and civil government. The company offers various products and services, such as daily Earth data, high-resolution imagery, and analytic feeds, helping organizations make informed decisions quickly.
How Much Funding Has Planet Raised?
- Series A
- Amount Raised: USD 13,100,000
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial fleet of small satellites.
- Series B
- Amount Raised: USD 52,000,000
- Date: December 2013
- Lead Investors: Yuri Milner
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for the launch of 28 new satellites and expand the team.
- Series C
- Amount Raised: USD 92,798,658
- Date: January 2015
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance satellite technology.
- Series C
- Amount Raised: USD 23,000,000
- Date: April 2015
- Lead Investors: IFC Venture Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand satellite fleet and data analytics capabilities.
- Debt Financing
- Amount Raised: USD 25,000,000
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and satellite launches.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series D
- Amount Raised: USD 168,000,000
- Date: February 2019
- Lead Investors: Prelude Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance satellite technology and expand market reach.
- Grant
- Amount Raised: Not publicly disclosed
- Date: April 2021
- Lead Investors: BloombergNEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Post-IPO Equity
- Amount Raised: USD 200,000,000
- Date: December 2021
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product offerings.
- Post-IPO Debt
- Amount Raised: USD 460,000,000
- Date: September 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refinance existing debt and support long-term growth.
Total Amount Raised: USD 1,034,898,658. Current Valuation: Not publicly disclosed.
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is one of the most influential tech companies globally, known for its search engine, advertising services, and various software products.
- Investment Focus Areas: Technology, Internet services, software.
- Notable Investments: Facebook, Uber, SpaceX.
- Koch Strategic Platforms
- Details: Koch Strategic Platforms is an investment arm of Koch Industries, focusing on growth equity and strategic investments. The firm aims to support companies with transformative potential across various sectors.
- Investment Focus Areas: Growth equity, strategic investments, transformative technologies.
- Notable Investments: Infor, Getty Images, Mavenir.
- Yuri Milner
- Details: Yuri Milner is a Russian entrepreneur and investor known for backing big ideas and transformative technologies. He has a history of investing in some of the most successful tech companies globally.
- Investment Focus Areas: Big ideas, technology, social media.
- Notable Investments: Facebook, Twitter, Airbnb.
- BlackRock
- Details: BlackRock is a global investment management corporation and the world's largest asset manager. The firm provides a range of investment and risk management services to institutional and retail clients.
- Investment Focus Areas: Asset management, risk management, financial services.
- Notable Investments: Apple, Microsoft, Amazon.
- Prelude Ventures
- Details: Prelude Ventures is a venture capital firm that invests in companies focused on climate innovation. The firm supports startups that aim to address climate change through technological advancements.
- Investment Focus Areas: Climate innovation, clean energy, sustainable technologies.
- Notable Investments: QuantumScape, Planet, Zymergen.
What's Next for Planet?
Planet's future is brimming with opportunities as it aims to launch the largest constellation of Earth-imaging satellites. This ambitious project will provide high-resolution, frequently updated imaging data, democratizing access for various organizations. The potential market is vast, including sectors like natural resource monitoring, agriculture, and mapping.
To support this growth, Planet may seek additional funding to continuously produce satellites and enhance data processing capabilities. However, challenges such as the short lifespan of satellites and competition from other microsatellite companies could pose hurdles. Despite these obstacles, Planet's innovative approach positions it well for future success.
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