A startup developing software that helps other companies save money has become the latest company backed by Tiger Global to attain a $1 billion valuation.
That startup is Ivalua, a Bay Area business that says it’s raised $60 million in growth equity backing at a valuation of more than $1 billion. Tiger Global and the growth arm of Ardian both participated in the funding, while KKR is an existing Ivalua backer. The company makes spend-management software, which its clients use to streamline financial processes and increase cash flow.
It’s the newest highly valued addition to the portfolio of Tiger Global, a New York-based investment firm that invests in startups in a major way, typically targeting late-stage deals. Last October, the firm closed its latest VC vehicle on $3.75 billion, per the Financial Times, and in the months since, it’s been busy putting all that new capital to work. Here’s a rundown of some of its recent high-profile investments:
Coinbase
Barely a week after the FT report of Tiger Global’s new fund in the fall, the firm led a $300 million Series E investment in Coinbase, the operator of a cryptocurrency trading platform that rose quickly to prominence during 2017’s bitcoin boom. The round valued the business at just over $8 billion and brought its total VC backing to more than $500 million.
Instacart
Last November, Tiger Global reportedly teamed with Coatue Management and Valiant Capital to invest $271 million in Instacart, adding to the grocery delivery company’s existing Series F and giving it a valuation of $7.87 billion. The round came nearly four years after Instacart first attained unicorn status, but it still resulted in a valuation increase of just over 80%.
Stripe
During the first month of 2019, Tiger Global increased its investment in payments unicorn Stripe, reportedly giving the company $100 million at a $22.5 billion valuation. The deal came about four months after the firm first staked Stripe, when it led a $245 million round at a $20.25 billion valuation.
Toast
Toast revealed a new Series E led by Tiger Global and TCV on the first day of April, a $250 million funding that valued the developer of a restaurant management platform at $2.7 billion. The company was yet another Tiger Global target that was raising its second major round in rapid succession, as it followed a $115 million Series D at a $1.4 billion valuation from last July.
Pax Labs
Vaporizers and cannabis are both red-hot sectors in the world of tech, and last month, Tiger Global backed a company that combines the two, contributing to a $420 million late-stage investment in Pax Labs that valued the business at $1.7 billion. Pax is the former parent of Juul, a nicotine vaporizer company that was valued at a stunning $38 billion last year.
Nextdoor
Just last week, Tiger Global took part in a $123 million investment in Nextdoor, reportedly valuing the operator of a neighborhood-focused social network at $2.1 billion. The firm has backed Nextdoor longer than most of its billion-dollar portfolio companies, as Tiger Global first staked the San Francisco-based business back in 2013, before it ever became a unicorn.
*This story has been updated to more accurately describe Tiger Global
Featured image via Freder/iStock/Getty Images Plus
Related read: Tiger Global closes biggest venture fund of the decade
Learn about our editorial standards.
