Total amount raised
$9.5 Millions
Latest funding date
5/1/2022
Location
Merge has successfully raised $75 million over multiple funding rounds, with a significant Series B round that brought in $55 million.
The platform offers a unified API for integrating various software categories, including HRIS, accounting, CRM, and file storage. Keep reading to explore the intricacies of Merge's fundraising journey and the investors backing this innovative platform.
What Is Merge?
Founded in 2020 by Gil Feig and Shensi Ding, Merge is headquartered in San Francisco, California. The company specializes in providing a unified API that simplifies secure data access across various software categories, including HRIS, accounting, CRM, and file storage.
Merge's platform handles the full integration lifecycle, from initial build to maintenance, helping companies unblock sales, reduce customer churn, accelerate time to market, and save engineering costs. The company has grown rapidly and now employs between 101 and 250 people.
By offering a streamlined solution for integrating multiple software systems, Merge aims to make data access and management more efficient for businesses of all sizes.
How Much Funding Has Merge Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: May 2021
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $15M
- Date: November 2021
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand customer acquisition efforts.
- Series B
- Amount Raised: $55M
- Date: October 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team, invest in R&D, and grow the go-to-market teams.
Total amount raised: $75M. Current valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth. The firm has a long history of investing in companies that have become category-defining businesses.
- Investment Focus Areas: Technology, Consumer Internet, Enterprise Software
- Notable Investments: Facebook, Slack, Dropbox
- New Enterprise Associates (NEA)
- Details: NEA is one of the world's largest and most active venture capital firms, focusing on helping entrepreneurs build transformational businesses across multiple stages and sectors. The firm has invested in over 1,000 companies, including industry leaders.
- Investment Focus Areas: Healthcare, Technology, Energy
- Notable Investments: Salesforce, Workday, Coursera
- Addition
- Details: Addition is a venture capital firm that invests in early and growth-stage companies across various sectors. The firm aims to support visionary entrepreneurs who are building the next generation of market-leading companies.
- Investment Focus Areas: Technology, Consumer, Financial Services
- Notable Investments: Robinhood, Coinbase, Stripe
What's Next for Merge?
Merge stands at the cusp of significant opportunities, driven by the increasing demand for seamless software integrations. The launch of a free tier for early-stage startups and expansion into new markets like Europe highlight the company's strategic growth initiatives. With over 3,000 companies already leveraging its platform, Merge is well-positioned to capitalize on the growing need for unified APIs across various business functions.
Future fundraising efforts are likely as Merge continues to scale its operations, focusing on expanding its team and enhancing R&D capabilities. However, challenges such as maintaining integration quality and managing rapid growth could pose hurdles. Ensuring compliance with international regulations and keeping up with technological advancements will be crucial as Merge navigates its ambitious growth trajectory.
Use Clay to Get Funding Data
Sales professionals, take your prospecting to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Merge and gather other critical business insights.
Sign up for free on Clay and start transforming your sales strategy today.
