How Much Did Torch Raise? Funding & Key Investors

Torch has successfully raised funding over 7 rounds, with the latest being a Series C round. The platform is backed by 18 investors, including 137 Ventures and Initialized Capital.

Keep reading to explore the intricacies of Torch's fundraising journey and the investors backing this innovative platform.

What Is Torch?

Torch is a leadership development platform based in San Francisco, California. The company operates in various industries, including corporate training, e-learning, and human resources. Torch combines human expertise with AI intelligence to drive leadership growth and business performance.

Founded as a private company, Torch has grown significantly, employing between 251-500 people. The platform offers coaching, software, and feedback to elevate performers to the next level, providing tailored solutions for enterprises and a variety of resources to support continuous learning and development.

How Much Funding Has Torch Raised?

1. Series C
   • Amount Raised: USD 40,000,000
   • Date: May 2022
   • Lead Investors: 137 Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product capabilities, ensure strong partnerships with customers, and scale operations.
2. Series B
   • Amount Raised: USD 25,000,000
   • Date: February 2021
   • Lead Investors: Obvious Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the company's initial growth phase, including increasing revenue and employee count, and expanding the customer base.
3. Series A
   • Amount Raised: USD 6,500,000
   • Date: December 2019
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and expand market reach.
4. Series A
   • Amount Raised: USD 1,513,494
   • Date: September 2019
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product features and support business growth.
5. Series A
   • Amount Raised: USD 12,409,984
   • Date: April 2019
   • Lead Investors: Norwest
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate product development and expand the team.
6. Seed
   • Amount Raised: Not publicly disclosed
   • Date: March 2018
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To lay the foundation for the company's growth and initial product development.
7. Seed
   • Amount Raised: USD 2,400,000
   • Date: October 2017
   • Lead Investors: Initialized Capital, Y Combinator
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and develop the initial version of the platform.

Total Amount Raised: USD 87,823,478. Current Valuation: Not publicly disclosed.

Key Investors

• 137 Ventures
  • Details: 137 Ventures led the $40 million Series C funding round for Torch. Nick Procaccini, an Investment Partner at 137 Ventures, emphasized the strategic alignment of Torch's platform with company culture and values.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Torch.
• Initialized Capital
  • Details: Initialized Capital made a significant follow-on investment in Torch's Series C funding round. Garry Tan, founder and managing partner, highlighted the scalability and quality of Torch's platform.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Torch.
• Norwest Venture Partners
  • Details: Norwest Venture Partners participated fully in the Series C funding round for Torch. They are an existing investor in the company.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Torch.
• Obvious Ventures
  • Details: Obvious Ventures also participated fully in the Series C funding round for Torch. They are an existing investor in the company.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Torch.
• Y Combinator
  • Details: Y Combinator is a well-known startup accelerator that has invested in Torch. They are recognized for their role in helping early-stage startups grow.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.

What's Next for Torch?

With the recent $40 million Series C funding, Torch is poised to expand its product capabilities and strengthen customer partnerships. The company has already doubled its revenue and employee count year-on-year, signaling a robust growth trajectory. This expansion presents significant opportunities, particularly in leadership development and inclusive workplace practices, driven by the ongoing demand for professional development solutions.

Future fundraising opportunities seem promising as Torch continues to attract investment from existing backers like Initialized Capital. The company's ability to scale operations and integrate new features, such as those from its merger with Everwise, will be crucial. However, maintaining the quality of its coaching and mentoring programs amidst rapid growth remains a challenge.

Use Clay to Get Funding Data

Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Torch and gather other critical business insights.

Sign up for free to start exploring the wealth of information available on Clay.