Total amount raised
$157 Millions
Latest funding date
April, 2024
Location
Homebase has successfully raised significant funding through multiple rounds, including a Series D. The platform offers comprehensive tools for employee scheduling, time tracking, communication, and task management.
Keep reading to explore the intricacies of Homebase's fundraising journey and the investors backing this versatile platform.
What Is Homebase?
Homebase, founded in 2014 by John Waldmann and Rushi Patel, is headquartered in San Francisco, California. The company provides an all-in-one solution for employee scheduling, time tracking, communication, and task management. With a team of 251-500 employees, Homebase aims to simplify workforce management for small businesses.
How Much Funding Has Homebase Raised?
- Seed Round
- Amount Raised: $2M
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Homebase's core platform.
- Series A
- Amount Raised: $6M
- Date: August 2016
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $20M
- Date: June 2018
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series C
- Amount Raised: $71M
- Date: July 2021
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in new technologies.
- Private Equity Round
- Amount Raised: $30M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Bank of America Breakthrough Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources.
- Series D
- Amount Raised: $60M
- Date: April 2024
- Lead Investors: L Catterton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel innovation and expand the product ecosystem.
Total Amount Raised: $189M. Current Valuation: Not publicly disclosed.
Key Investors
- L Catterton
- Details: L Catterton is a leading global consumer-focused private equity firm. They have a strong track record of investing in high-growth companies.
- Investment Focus Areas: Consumer businesses, technology platforms, retail.
- Notable Investments: Peloton, ClassPass, Vroom.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests from seed to growth stages. They are part of Bain Capital, a global private investment firm.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm focused on early-stage investments in technology companies. It was founded by Vinod Khosla, co-founder of Sun Microsystems.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: DoorDash, Square, Impossible Foods.
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in early-stage companies. They focus on high-growth potential startups.
- Investment Focus Areas: Early-stage companies, technology, consumer products.
- Notable Investments: Not publicly disclosed.
- Bank of America Breakthrough Lab
- Details: Bank of America Breakthrough Lab is an accelerator program that supports high-potential startups. They provide strategic support and resources to help companies scale.
- Investment Focus Areas: Financial technology, social impact, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Homebase?
Homebase stands at the cusp of a significant opportunity, aiming to expand its product ecosystem for local business teams. With six million small businesses in the U.S. employing over 62 million workers, the potential for growth is immense. The recent $60 million Series D funding will accelerate product investments, enhancing features like scheduling, time tracking, payroll, and HR tools.
Future fundraising opportunities seem promising, given the strong backing from investors like L Catterton and Bain Capital Ventures. However, Homebase will need to navigate a competitive market and continuously innovate to stay ahead. Challenges such as scaling operations while maintaining quality and adapting to regulatory changes will be crucial to their success.
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