Total amount raised
$168 Millions
Latest funding date
10/01/2019
Location
Weave has successfully raised significant funding through multiple rounds, with its latest being a Series D. The platform offers a comprehensive communication solution tailored for small businesses, particularly in the healthcare sector.
Keep reading to explore the intricacies of Weave's fundraising journey and the investors backing this innovative platform.
What Is Weave?
Weave, founded in 2011, is headquartered in Lehi, Utah. The company was established by Brandon Rodman, Clint Berry, Jared Rodman, and Marcus Bertilson.
Weave offers an all-in-one communication platform designed to help small businesses, particularly in the healthcare sector, manage their interactions with customers. The platform integrates features like texting, phone service, fax, and reviews to streamline customer communication.
Currently, Weave employs between 501 and 1000 people, providing robust solutions that transform how local businesses attract, communicate with, and engage their customers.
How Much Funding Has Weave Raised?
- Pre-Seed Round
- Amount Raised: $1M
- Date: July 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: $1M
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the customer base.
- Series A
- Amount Raised: $5M
- Date: June 2014
- Lead Investors: A.Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance product features.
- Series B
- Amount Raised: $15.5M
- Date: November 2015
- Lead Investors: Crosslink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series B
- Amount Raised: $15M
- Date: January 2016
- Lead Investors: Crosslink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and product development.
- Series B
- Amount Raised: $23M
- Date: September 2017
- Lead Investors: Catalyst Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series C
- Amount Raised: $37.5M
- Date: December 2018
- Lead Investors: Lead Edge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Series D
- Amount Raised: $70M
- Date: October 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: $970M
- Motivation Behind the Round: To exceed customer expectations, invest in product development, and expand into new markets.
Total Amount Raised: $168M. Current Valuation: $970M.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on both private and public companies. It has a strong track record in the technology sector.
- Investment Focus Areas: Technology, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe.
- Lead Edge Capital
- Details: Lead Edge Capital is a growth equity firm that partners with world-class entrepreneurs and exceptional management teams. They focus on scaling businesses.
- Investment Focus Areas: Internet, software, consumer, technology-enabled services.
- Notable Investments: Alibaba, Uber, Spotify, Toast.
- Catalyst Investors
- Details: Catalyst Investors is a growth equity firm that invests in technology-enabled services. They focus on companies that are at an inflection point in their growth.
- Investment Focus Areas: Technology-enabled services, SaaS, internet infrastructure, digital media.
- Notable Investments: Weave, InSite Wireless Group, PresenceLearning.
- Crosslink Capital
- Details: Crosslink Capital is a venture capital and growth equity firm that invests in early-stage and growth-stage companies. They have a strong focus on technology sectors.
- Investment Focus Areas: Enterprise software, consumer technology, financial technology.
- Notable Investments: Pandora, Ancestry.com, Coupa Software.
- A.Capital Ventures
- Details: A.Capital Ventures is an early-stage venture capital firm that invests in technology companies. They focus on helping startups grow and scale.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Airbnb, Pinterest, Slack.
What's Next for Weave?
Weave stands on the brink of significant opportunities, with plans to enhance its product offerings and expand internationally. The U.S. market alone, with its 29 million small and medium businesses, presents a vast potential for growth. As Weave continues to innovate, the company is poised to attract further investment, potentially leading to additional funding rounds to support its ambitious expansion plans.
However, the path forward is not without challenges. Weave must navigate the complexities of rapid growth, manage international expansion, and stay ahead in a competitive market. Despite these hurdles, the company's strong leadership and impressive track record suggest a promising future, with the potential for strategic acquisitions to bolster its market position.
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