Total amount raised
$443.5 Million
Latest funding date
12/1/2024
Location
Public has successfully completed 8 funding rounds, attracting notable investors such as Accel and Maria Sharapova. The platform offers a diverse range of financial products, including stocks, bonds, and cryptocurrencies.
Keep reading to explore the intricacies of Public's fundraising journey and the investors backing this innovative platform.
What Is Public?
Public is a fintech brokerage firm based in New York, New York, offering commission-free trading for various asset classes, including stocks, bonds, and cryptocurrencies. The company operates within the FinTech, Cryptocurrency, Stock Exchanges, and Trading Platform industries.
Founded in an unspecified year, Public has grown to employ between 101-250 people. The platform is designed to democratize access to financial markets, providing a user-friendly experience with AI-powered analysis and robust customer support.
How Much Funding Has Public Raised?
- Seed Round
- Amount Raised: USD 2,000,000
- Date: September 2018
- Lead Investors: Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial features.
- Series A
- Amount Raised: USD 6,500,000
- Date: March 2019
- Lead Investors: Accel, Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 15,000,000
- Date: March 2020
- Lead Investors: Accel, Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series C
- Amount Raised: USD 65,000,000
- Date: December 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and expand into new asset classes.
- Series D
- Amount Raised: USD 220,000,000
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance platform features.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Maria Sharapova
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and innovation.
- Series D-2
- Amount Raised: USD 135,000,000
- Date: December 2024
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost AI capabilities and prepare for generational wealth transfer.
Total Amount Raised: USD 443,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a prominent venture capital firm that has been a longtime backer of Public. They have led multiple funding rounds, including the Series D and Series D-2 rounds.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Maria Sharapova
- Details: Maria Sharapova is a professional tennis player and investor who has shown interest in various sectors. She is one of the recent investors in Public.
- Investment Focus Areas: Health, wellness, technology.
- Notable Investments: Supergoop!, Tonal.
What's Next for Public?
Public is poised to capitalize on the burgeoning opportunities in AI-driven investment tools and generational wealth transfers. With an estimated $70 trillion in assets to be inherited by 2045, the platform aims to attract digital natives who prefer automated investment management. The recent $135 million Series D-2 funding will enable Public to expand its offerings, including corporate bonds and alternative assets, enhancing its appeal to a broader audience.
Future fundraising efforts are likely as Public continues to innovate and scale its operations. However, the company faces challenges such as competition from other AI-driven platforms and regulatory hurdles. Ensuring the security and reliability of its AI tools will be crucial for maintaining user trust and sustaining growth.
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