Total amount raised
$257.6 Millions
Latest funding date
Location
G2 has successfully raised significant funding over multiple rounds, with its latest being a Series D. The platform serves as a comprehensive marketplace for businesses to research, buy, and manage their software and services.
Keep reading to explore the intricacies of G2's fundraising journey and the investors backing this influential platform.
What Is G2?
G2, founded on May 1, 2012, in Chicago, Illinois, operates a software marketplace for businesses to research, buy, and manage their software and services. The platform leverages over 1.3 million user reviews to help business professionals, buyers, investors, and analysts make informed purchasing decisions.
The company was founded by Godard Abel, Mark Myers, Matt Gorniak, Mike Wheeler, and Tim Handorf. G2 has grown significantly since its inception and now employs between 501 and 1000 people.
G2 offers various products and services, including the G2 Software Marketplace, Monty by G2, and the G2 Buyer Behavior Report, all designed to assist businesses in navigating the complex software landscape.
How Much Funding Has G2 Raised?
- Seed Round
- Amount Raised: $2M
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop the initial product.
- Series A
- Amount Raised: $2.3M
- Date: May 2014
- Lead Investors: Chicago Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: $7M
- Date: July 2015
- Lead Investors: Pritzker Group Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Venture Round
- Amount Raised: $4.3M
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand user base.
- Series B
- Amount Raised: $30M
- Date: May 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product offerings.
- Series C
- Amount Raised: $55M
- Date: October 2018
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance market presence.
- Series D
- Amount Raised: $157M
- Date: June 2021
- Lead Investors: Permira, Salesforce Ventures
- Valuation at Round: Over $1.1 billion
- Motivation Behind the Round: To expand G2's community and products, grow the team, and invest in the vision to be the definitive place for software online.
Total Amount Raised: $257.6M. Current Valuation: Over $1.1 billion.
Key Investors
- Permira
- Details: Permira is a global investment firm that backs growth-oriented businesses. The firm advises funds with a total committed capital of approximately $50 billion.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Genesys, Informatica, Magento.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. The firm has a strong track record of backing successful startups.
- Investment Focus Areas: Technology startups, consumer technology, enterprise technology.
- Notable Investments: Facebook, Dropbox, Slack, Spotify.
- Emergence
- Details: Emergence is a venture capital firm focused on early and growth-stage enterprise cloud companies. The firm is known for its expertise in the enterprise software sector.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Salesforce, Zoom, Veeva Systems.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital and growth equity firm. The firm specializes in investing in rapidly growing technology and media companies.
- Investment Focus Areas: Technology, media companies.
- Notable Investments: Twitter, Dropbox, Snap.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. The firm aims to extend the Salesforce ecosystem through strategic investments.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Box, DocuSign, Twilio.
What's Next for G2?
G2 stands at the cusp of significant growth opportunities, driven by its recent $157 million Series D funding. The company plans to expand its reach, enhance its product offerings, and grow its team. With a user base of 60 million software buyers annually and over 1.3 million reviews, G2 is well-positioned to capitalize on the increasing demand for trusted software reviews and digital transformation solutions.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Permira, Accel, and Salesforce Ventures. These investments not only provide financial support but also strategic guidance, potentially paving the way for future rounds or even an IPO. However, G2 must navigate challenges such as maintaining the authenticity of reviews, managing rapid growth, and staying ahead of competitors in a crowded market.
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