Total amount raised
$45 Millions
Latest funding date
2/1/2021
Location
Torch has successfully raised significant funding through multiple rounds, with its latest being a Series C. The company specializes in leadership development, offering a blend of coaching, software, and feedback to enhance performance.
Keep reading to explore the intricacies of Torch's fundraising journey and the investors backing this innovative platform.
What Is Torch?
Founded in 2017, Torch is a leadership development platform based in San Francisco, California. The company was established by Cameron Yarbrough and Keegan Walden, who aimed to blend human intelligence with digital technology to accelerate talent development.
Torch offers a comprehensive suite of services, including coaching, software, and feedback, designed to elevate high performers to the next level. Their approach focuses on empowering leaders to build high-growth, high-performance cultures.
With a team of 251-500 employees, Torch continues to innovate in the field of leadership development, helping organizations and their leaders evolve together through tailored coaching programs.
How Much Funding Has Torch Raised?
- Seed Round
- Amount Raised: $2.4M
- Date: October 2017
- Lead Investors: Initialized Capital, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their leadership platform.
- Seed Round
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their product offerings.
- Series A
- Amount Raised: $12.4M
- Date: April 2019
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product capabilities.
- Series A
- Amount Raised: $1.5M
- Date: September 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Series A
- Amount Raised: $6.5M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate their growth and expand their customer base.
- Series B
- Amount Raised: $25M
- Date: February 2021
- Lead Investors: Obvious Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series C
- Amount Raised: $40M
- Date: May 2022
- Lead Investors: 137 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product capabilities and scale operations.
Total Amount Raised: $87.2M. Current Valuation: Not publicly disclosed.
Key Investors
- 137 Ventures
- Details: 137 Ventures is a growth-stage venture capital firm that provides liquidity solutions to founders, employees, and early investors. They focus on partnering with companies that have a strong potential for growth and innovation.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: SpaceX, Wish, Gusto.
- Initialized Capital
- Details: Initialized Capital is an early-stage venture capital firm founded by Garry Tan and Alexis Ohanian. They are known for their hands-on approach and support for startups from inception to growth.
- Investment Focus Areas: Software, consumer products, financial technology.
- Notable Investments: Coinbase, Instacart, Cruise.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm that has been investing in companies for over 60 years. They provide capital and resources to help companies scale and succeed.
- Investment Focus Areas: Healthcare, technology, financial services.
- Notable Investments: Uber, Spotify, BlueJeans.
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that invests in companies creating positive social impact. They focus on supporting businesses that aim to solve significant global challenges.
- Investment Focus Areas: Sustainable systems, healthy living, people power.
- Notable Investments: Beyond Meat, Olly, Diamond Foundry.
What's Next for Torch?
As Torch continues to expand its product capabilities, the company is well-positioned to capitalize on the growing demand for professional development solutions. With a focus on employee retention and engagement, Torch's platform offers significant opportunities to attract large enterprises and strengthen existing customer partnerships. The company's recent merger with Everwise and its impressive customer base, including Reddit and Zendesk, highlight its potential for substantial growth.
Future fundraising opportunities appear promising, with continued support from investors like Initialized Capital and Norwest Venture Partners. As Torch scales its operations, additional funding rounds could further enhance its market reach and product offerings. However, maintaining service quality while scaling and staying ahead of competitors will be critical challenges. Navigating the evolving landscape of employee expectations and workplace dynamics will also require continuous innovation and adaptability.
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