Total amount raised
$443.5 Millions
Latest funding date
Location
Title
Public has successfully raised significant funding through multiple rounds, including a Series D, to support its comprehensive investing platform. The platform offers a diverse range of financial products such as stocks, ETFs, options, crypto, bonds, and retirement accounts.
Keep reading to explore the intricacies of Public's fundraising journey and the investors backing this innovative platform.
What Is Public?
Public is an investing platform founded in September 2019 by Jannick Malling, Leif Abraham, Matt Kennedy, Peter Quinn, and Sean Hendelman. The company is headquartered in New York, New York.
Public offers a wide range of financial products, including stocks, ETFs, options, crypto, bonds, and retirement accounts. The platform aims to make investing accessible to everyone, emphasizing ease of use, transparency, and security.
With a team of 101-250 employees, Public continues to innovate and expand its offerings to meet the needs of modern investors.
How Much Funding Has Public Raised?
- Seed Round
- Amount Raised: $2M
- Date: September 2018
- Lead Investors: Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Series A
- Amount Raised: $6.5M
- Date: March 2019
- Lead Investors: Accel, Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series B
- Amount Raised: $15M
- Date: March 2020
- Lead Investors: Accel, Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series C
- Amount Raised: $65M
- Date: December 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To diversify product offerings and enter new markets.
- Series D
- Amount Raised: $220M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI-driven features and expand globally.
- Venture Round
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation.
- Seed Round
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refine the platform and prepare for larger funding rounds.
- Venture Round
- Date: December 2021
- Lead Investors: Maria Sharapova
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
- Debt Financing
- Amount Raised: $30M
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
- Series D
- Amount Raised: $105M
- Date: December 2024
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand asset classes.
Total Amount Raised: $443.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have been a longtime backer of Public, leading multiple funding rounds.
- Investment Focus Areas: Technology, Internet, Software, High-growth sectors
- Notable Investments: Facebook, Dropbox, Slack, Spotify
- Greycroft
- Details: Greycroft is a venture capital firm that focuses on investments in the internet and mobile markets. They have been involved in multiple funding rounds for Public.
- Investment Focus Areas: Internet, Mobile, Technology, Media
- Notable Investments: Venmo, Huffington Post, Maker Studios
- Maria Sharapova
- Details: Maria Sharapova is a professional tennis player and entrepreneur who invests in various startups and businesses. She has participated in venture rounds for Public.
- Investment Focus Areas: Technology, Consumer Goods, Health & Wellness
- Notable Investments: Supergoop, Tonal, Therabody
- Jannick Malling
- Details: Jannick Malling is one of the co-founders of Public and has been instrumental in its growth and development. He continues to support the company through various funding rounds.
- Investment Focus Areas: Fintech, Technology, Startups
- Notable Investments: Public (primary focus)
- Leif Abraham
- Details: Leif Abraham is another co-founder of Public, contributing significantly to its strategic direction and innovation. He remains actively involved in the company's funding efforts.
- Investment Focus Areas: Fintech, Technology, Startups
- Notable Investments: Public (primary focus)
What's Next for Public?
Public is poised to capitalize on several significant opportunities. The platform's expansion into corporate bonds and the increasing adoption of its AI-enabled research tool, Alpha, present substantial growth potential. With an estimated $70 trillion in generational wealth transfers by 2045, Public is well-positioned to attract a new wave of investors.
Future fundraising efforts will likely focus on enhancing AI capabilities and expanding into new asset classes. The recent $135 million Series D-2 round, led by Accel, underscores the confidence investors have in Public's growth trajectory. As the company scales, additional rounds of equity and debt financing may be on the horizon.
However, Public will face challenges such as competition from other AI-driven platforms and regulatory hurdles. Maintaining user trust and security in a rapidly evolving digital landscape will be crucial. Despite these challenges, Public's innovative approach and strategic investments position it for continued success.
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