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Scoop: Away raises $100 million

Personal luggage manufacturer Away could raise up to $100 million with an over $1 billion valuation, PitchBook has learned.

Luggage manufacturer Away is raising up to $100 million in Series D funding, PitchBook has learned.

On Wednesday, the company confirmed the funding, which values Away at $1.4 billion, significantly up from the $400 million valuation it reached less than a year ago. Investors in the new round included Wellington Management Company, Baillie Gifford, Lone Pine Capital and Global Founders Capital, bringing its total equity funding to $156 million.

Founded in 2015, the New York-based company designs and manufactures high-end luggage sold directly to consumers through its website. Its other investors include Battery Ventures, Comcast Ventures, Accel, and Slack CEO and co-founder Stewart Butterfield.

Here’s a look back at the company’s past funding rounds:

August 2015: $2.5 million seed round with a $7.2 million valuation
September 2016: $8.5 million Series A with a $40 million valuation
May 2017: $20 million Series B with a $120 million valuation
June 2018: $50 million Series C with a $400 million valuation
Featured image courtesy of Away

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    Written by Ian Agar

    Ian Agar was a financial writer at PitchBook covering venture capital.

    A native of Southern California, he joined the US Coast Guard and received his BA in Psychology from American Military University. After leaving the military, he was a writer for SeekingAlpha for over six years covering blue-chip stocks and fast-growing small-cap companies. Although studying charts and financial reports excite him, his wife is his real passion in life—especially when they both spend time studying charts and financial reports together.

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