Sequoia is a big winner of Stripe’s most valuable startup status, now that the fintech company is worth $95 billion

Sequoia Capital Michael Moritz

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Sequoia Capital’s early bet on Stripe continues to pay off as the fintech unicorn closed a monster $600 million round at a valuation of $95 billion, making it the most valuable private company in Silicon Valley.

Dhivya Suryadevara, Stripe’s chief financial officer, told Insider’s Matt Weinberger on Sunday that she’d been “struck by how capital efficient the business is” since joining the company, adding that the new funds will go into growth and expansion in Europe.

The company has raised a total of about $2.2 billion over 15 rounds in its lifetime, with a good chunk coming from Sequoia, according to Pitchbook. Early investor and VC Mike Moritz is also a board member.

After graduating from Y Combinator in 2010, Stripe raised $2 million in early-stage seed funding from Sequoia, along with Andreessen Horowitz and SV Angel in September 2011. Five months later, Sequoia led another $18 million Series A round, putting the company’s pre-money valuation at $82 million. While we don’t know how large Sequoia’s stake in Stripe is, the famous VC firm went on to invest in almost every major round in Stripe’s funding history. 

Here’s a look at Stripe and Sequoia’s funding history, based on estimates from data deals database Pitchbook.

Seed: Stripe raised $2 million in early-stage seed funding from Sequoia Capital, along with Andreessen Horowitz and SV Angel in September 2011. Other angel investors bought in a later date, too, including Max Levchin, Elon Musk, Peter Thiel, Ronald Conway, Dave Morin and Dave McClure, according to Pitchbook.

Series A: The company raised $18 million of Series A venture funding in a deal led by Sequoia on February 9, 2012, putting the company’s estimated valuation at $100 million.

Series B: The company raised $20 million of Series B venture funding in a deal led by General Catalyst on July 9, 2012. Sequoia participated in the funding round, along with Redpoint Ventures, Lowercase Capital, Aaron Levie, Christopher Dixon, Elad Gil, Peter Thiel, Scott Raney, Hemant Taneja and Jeremy Uzan.

Series C: The company raised $80 million of Series C venture funding in a deal led by Founders Fund on January 22, 2014, putting the company’s estimated valuation at $1.75 billion. Sequoia participated in the funding round, along with General Catalyst, Khosla Ventures, Entrée Capital, 500 Startups, Capital Factory and Allen & Company.

Series C1: The company raised $70 million of Series C1 venture funding in a deal led by Thrive Capital on December 2, 2014, putting the company’s estimated valuation at $3.6 billion. Sequoia participated in the round, along with Founders Fund, General Catalyst, Khosla Ventures, BoxGroup and Union Square Ventures.

Series C2: The company raised $100 million of Series C2 venture funding from American Express Ventures, Visa Ventures and Salesforce Ventures on July 28, 2015, putting the company’s estimated valuation at $5 billion. Sequoia, along with Designer Fund, FJ Labs, Alven Capital Partners, Square Peg Capital and Kleiner Perkins, also participated in the round.

Series D: The company raised $150 million of Series D venture funding in a deal led by CapitalG and General Catalyst on December 1, 2016, putting the company’s estimated valuation at $9 billion. Sequoia participated in the round along with GV, Paua Ventures, Connect Ventures, Golden Gate Ventures, Atomico, Greenoaks Capital Partners, Moment Ventures, Elon Musk and Peter Thiel. In addition, a $250 million credit facility was provided by JPMorgan Chase & Co, Goldman Sachs Group, Morgan Stanley and Barclays.

Series E: The company raised $245 million of Series E venture funding in a deal led by Tiger Global Management on September 26, 2018, putting the company’s estimated valuation at $20.25 billion. Sequoia participated in the round along with Andreessen Horowitz, Thrive Capital, General Catalyst, Khosla Ventures, Kleiner Perkins, DST Global, Proioxis Ventures, Sherpalo Ventures, and Base Partners. At the time, Stripe said the funds will be used to hire more employees and fuel growth in key overseas markets such as Southeast Asia and India.

Series F: The company raised $100 million of Series F venture funding from Tiger Global Management on January 29, 2019, putting the company’s estimated valuation at $22.5 billion. This is one of the only major rounds that Sequoia did not participate in.

Series G: The company raised $850 million of Series G venture funding in a deal led by Andreessen Horowitz, General Catalyst and Sequoia on April 16, 2020, putting the company’s valuation at $36 billion. GV, Novator Partners, Troy Capital Partners, DFJ Growth, SciFi VC, Vika Ventures, Ben Jen Holdings, The Factory (France), and Glynn Capital also participated in the round. 

Series H: Stripe raised a $600 million funding round at a $95 billion valuation. Investors include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia, and Ireland’s National Treasury Management Agency, or NTMA.

SEE ALSO: Meet the Stripe mafia: These 14 former employees are raising millions for their own startups, from climate tech to a Slack competitor

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