Total amount raised
$73.5 Millions
Latest funding date
09/01/2022
Location
Tidelift has successfully raised funding through multiple rounds, with its most recent being a Series C round on September 13, 2022. The company has attracted investments from notable entities such as AEI Horizon X and Cisco Investments.
Keep reading to explore the intricacies of Tidelift's fundraising journey and the investors backing this innovative platform.
What Is Tidelift?
Tidelift, founded in 2017, operates in the developer platform, information technology, and software industries. The company is headquartered in Boston, Massachusetts, and was established by Donald Fischer, Havoc Pennington, Jeremy Katz, and Luis Villa.
With an employee count ranging from 11 to 50, Tidelift focuses on making open source software work better for everyone. The company provides a single source for proactively managed open source components and professional assurances around those components, aiming to enable the creation of more incredible software, faster.
How Much Funding Has Tidelift Raised?
- Series A
- Amount Raised: $15M
- Date: May 2018
- Lead Investors: Foundry Group, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial growth and development of their subscription service and support network.
- Series B
- Amount Raised: $25M
- Date: January 2019
- Lead Investors: Foundry Group, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scaling operations and expanding their support services.
- Series C
- Amount Raised: $27M
- Date: May 2022
- Lead Investors: Dorilton Ventures, Kaiser Permanente, Atlassian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Improving open-source health and security, addressing increasing security threats, and complying with new government software security standards.
- Series C
- Amount Raised: $6.5M
- Date: September 2022
- Lead Investors: AEI Horizon X, Cisco Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further expansion and enhancement of their open-source software solutions.
Total Amount Raised: $73.5M. Current Valuation: Not publicly disclosed.
Key Investors
- AEI Horizon X
- Details: AEI Horizon X is a venture capital firm that focuses on investing in innovative technologies and startups. They aim to support companies that are pushing the boundaries of technology and innovation.
- Investment Focus Areas: Technology, aerospace, defense
- Notable Investments: Not publicly disclosed
- Cisco Investments
- Details: Cisco Investments is the corporate venture capital arm of Cisco Systems, Inc. They invest in companies that align with Cisco's strategic interests and can enhance their product offerings.
- Investment Focus Areas: Networking, cybersecurity, cloud computing
- Notable Investments: Cohesity, ThousandEyes, Pexip
- Dorilton Ventures
- Details: Dorilton Ventures is a private investment firm that focuses on long-term investments across various sectors. They aim to create value through strategic investments and operational improvements.
- Investment Focus Areas: Technology, healthcare, industrials
- Notable Investments: Williams Racing Formula 1 team
- Foundry Group
- Details: Foundry Group is a venture capital firm that invests in early-stage technology companies. They focus on supporting innovative startups in the information technology and software sectors.
- Investment Focus Areas: Information technology, internet, software
- Notable Investments: Fitbit, SendGrid, Zynga
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They aim to support transformative and scalable solutions across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Airbnb, Stripe, Snap
What's Next for Tidelift?
Tidelift stands at the cusp of significant growth, driven by the increasing need for secure and well-maintained open source software. The company is uniquely positioned to capitalize on the growing demand from various industries, including healthcare, finance, technology, and government. With major organizations like Fannie Mae, Bloomberg, and NASA Jet Propulsion Laboratory already on board, the market potential is substantial.
Future fundraising opportunities appear promising as Tidelift continues to expand its customer base and enhance its service offerings. The success of their recent Series C funding round, led by prominent investors, sets a positive precedent for attracting more investment. However, the company will need to navigate challenges such as evolving security threats and stringent government regulations to maintain its growth trajectory.
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