US-based application management software developer Pantheon received $100m in series E funding from internet and telecommunications conglomerate SoftBank’s Vision Fund 2 yesterday at a valuation of over $1bn.
Pantheon provides a WebOps platform which enables marketing and development teams to apply an agile build-test-learn approach that can automate processes, improve productivity and optimise innovation and efficiency.
The company hosts 300,000 websites and counts more than 12,000 customers and over 2,500 partners, among its customer base, it said.
The round takes the overall funding raised by the company to $200m. The financing will be used to expand its capabilities into areas such as personalisation and analytics and accelerate its product development and innovation.
Pantheon initially raised $1.3m in seed funding from First Round Capital, Baseline, Floodgate, Founder Collective and angel investors James Lindenbaum, Adam Wiggins and Orion Henry in 2010. Foundry Group provided it with $5m in series A financing the following year.
The company secured $21.5m in a 2014 series B round led by Scale Venture Partners and backed by OpenView Venture Partners, Foundry Group and First Round. It added $29m in a series C round featuring Foundry Group, OpenView, Scale Venture Partners and Industry Ventures two years later.
Sageview Capital subsequently led a $40m series D round for Pantheon in March 2019 that also featured Foundry Group, Scale Venture Partners and Industry Ventures.