Total amount raised
$19.3 Millions
Latest funding date
08/01/2021
Location
Sora has successfully raised funds through multiple rounds, with its last Series A round closing on August 24, 2021. The platform offers low-code intelligent workflow automation and data integration, connecting various corporate applications to enhance user experience for employees, business owners, and HR professionals.
With backing from eight investors, including GTMfund and Jack Altman, Sora's journey in the tech space has been noteworthy. Keep reading to explore the intricacies of Sora's fundraising journey and the investors backing this innovative platform.
What Is Sora?
Founded in 2018 by Laura Del Beccaro and Orien Wu, Sora is based in San Francisco, California. The company specializes in low-code intelligent workflow automation and data integration, connecting various corporate applications to enhance user experience for employees, business owners, and HR professionals. With a team of 11-50 employees, Sora has made significant strides in the tech space, offering innovative solutions to streamline business processes.
How Much Funding Has Sora Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial product.
- Seed Round
- Amount Raised: $5.3M
- Date: July 2020
- Lead Investors: First Round Capital, Elad Gil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To validate the market for Sora's HR automation software and establish a solid foundation for future growth.
- Series A
- Amount Raised: $14M
- Date: August 24, 2021
- Lead Investors: Two Sigma Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate Sora's growth in both financial and human terms, scaling the company further.
Total Amount Raised: $19.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Two Sigma Ventures
- Details: Two Sigma Ventures is a venture capital firm that invests in early-stage technology companies. They are known for leveraging data science and engineering to identify promising startups.
- Investment Focus Areas: HR tech, robotic process automation, companies benefiting from macro trends like declining employee tenure and remote work.
- Notable Investments: Not publicly disclosed.
- Elad Gil
- Details: Elad Gil is a prominent angel investor and entrepreneur, known for his early investments in successful tech companies. He has a background in biology and computer science.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm that has backed numerous successful startups. They focus on providing early-stage funding and support to entrepreneurs.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
Information about other major investors and their notable investments was not found in the provided sources.
What's Next for Sora?
Sora stands at the cusp of significant growth, driven by the increasing complexity of HR tools and the shift to remote work. The company plans to double its staff and expand its customer base, targeting businesses with around 100 employees or more. This expansion is fueled by the recent $14 million Series A funding round, which will help Sora enhance its HR automation software and reduce busywork for HR teams.
Future fundraising opportunities appear promising as Sora continues to demonstrate substantial revenue growth and customer acquisition. The company may attract further investment rounds, enabling it to scale operations and potentially become a central hub for HR processes. However, Sora will need to navigate challenges such as competition in the crowded HR tech landscape and convincing companies to adopt another employee-facing tool.
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