Pipe joined the Unicorn Club on March 31, 2021, after raising a $250 million Series C funding round led by Greenspring Associates, valuing it at $2 billion. Headquartered in Los Angeles, California, United States, Pipe operates a revenue-based financing marketplace connecting recurring-revenue businesses with investors.
The platform integrates with accounting and ERP systems via APIs to determine financing based on business performance data. Pipe automates monthly statements, supports existing payment tools, and enables companies to access growth capital without giving up equity.
Keep reading to see how Pipe became one of the fastest startups to reach unicorn status.
What Is Pipe and What Does It Do?
Founded in 2019, Pipe provides a marketplace where businesses with predictable recurring revenue can trade future income for upfront capital. Investors purchase revenue contracts, and businesses receive immediate cash while continuing their normal operations.
The platform integrates with accounting, billing, and ERP systems to automatically assess performance and risk. This allows businesses to avoid dilution and traditional credit hurdles. Over time, Pipe has expanded beyond SaaS into other subscription-driven industries.
How Much Funding Has Pipe Raised?
1. Series C Round
- Amount Raised: $250 million
- Date: March 31, 2021
- Valuation: $2 billion
- Lead Investor: Greenspring Associates
- Purpose: Expand the marketplace, enhance underwriting models, and scale operations
2. Earlier Rounds and Debt
- Cumulative Funding Before Series C: ~$66 million
- Key Investors: Rizvi Traverse, Oceanic Partners
- Purpose: Product development, credit modeling, and marketplace liquidity
3. Latest Funding Round
- Round Type: Conventional Debt
- Amount Raised: $100 million
- Date: June 12, 2024
- Purpose: Increase capital supply for the trading marketplace
Total Funding Raised: ~$316 million
Latest Funding Date: June 12, 2024
Latest Known Valuation: ~$2 billion
Employee Count: 70 (as of December 31, 2022)
Key Investors
1. Greenspring Associates
- Details: Growth-focused investment firm backing later-stage technology companies.
- Focus Areas: Marketplace platforms, fintech, and financial infrastructure.
2. Rizvi Traverse
- Details: Long-term investor supporting tech and media businesses.
- Focus Areas: Fintech, digital platforms, and subscription-based business models.
Where Is Pipe’s Headquarters?
Pipe is headquartered in Los Angeles, California, United States, where its teams focus on marketplace infrastructure, underwriting models, API integrations, and building the investor ecosystem.
What’s Next for Pipe?
Pipe is expanding its marketplace beyond SaaS into more verticals with predictable revenue. Focus areas include enhancing liquidity, refining data-driven risk models, and deepening integrations to facilitate simpler onboarding. The company aims to become a global platform for recurring-revenue financing.
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