Pipe, the US-based developer of a recurring revenue trading platform, has raised a reported $150m at a $2bn valuation, just weeks after raising $50 million in growth funding, according to TechCrunch.
Although the round is still ongoing, hedge fund Greenspring Associates is the lead investor, TechCrunch said.
Last month, industrial equipment manufacturer Siemens’ Next47 unit co-led a $50m funding round for Pipe.
The round was co-led by financial services firm Raptor Group and included e-commerce software provider Shopify, identity authentication software producer Okta and enterprise software providers HubSpot and Slack.
MSD Capital and Republic filled out the round with private investors Chamath Palihapitiya, Marc Benioff, Alexis Ohanian and Joe Lonsdale.
Pipe’s online platform enables businesses to sell contracts that represent their future recurring revenue in exchange for upfront capital.
Craft Ventures led Pipe’s $6m seed round in February 2020, participating alongside Fika Ventures, MaC Ventures, WorkLife Ventures, Liquid2 Ventures, The Weekend Fund and individual investor Naval Ravikant.
The company added a $10m equity extension later in the year, likely part of the $60m equity and asset financing it secured from Fin Venture Capital, Tribe Capital, Uncorrelated Ventures, Anthemis, Craft Ventures, Fika Ventures, MaC Ventures and private backer Lachy Groom in June.
