Thursday, May 24, 2018

Foundry-backed Rover Lands $155M More, Nears Unicorn Land

Dog-sitting marketplace Rover, which is backed by Boulder's Foundry Group, has raised a huge, $155M funding round from very late stage investors, suggesting the company may be getting closer to a long rumored IPO. Rover said on Thursday that it raised $125M equity funding round for the company and $30M in a credit facility. The equity funding was led by T. Rowe Price Associates, and also including Winslow Capital, Cross Creek, TCV, Greenspring Associates and Spark Capital. The $30M line of credit came from Silicon Valley Bank. According to Rover, the new funds will go towards international expansion, to enhance its core offerings, and "new service adjacencies". Foundry Group led Rover's Series B funding back in February of 2013, when Rover had raised only $10.4M in funding; today, Rover's total now stands at over $281M. The WSJ says Rover now has a valuation of over $970M. More information »