Tuesday, April 13, 2021
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Bird raises $275 million Series D round at $2.5 billion valuation – TechCrunch


Henhas closed a $275 million Series D spherical led by CDPQ and Sequoia Capital, Hen CEO Travis VanderZanden introduced at TechCrunch Disrupt San Francisco at present time. The spherical values Hen at a $2.5 billion pre-cash valuation, per sources conscious of the spherical. This spherical comes a couple of months after TechCrunch reported Hen was having a peek to raise a Series D spherical at a $2.5 billion valuation led by Sequoia.

“Almost a 365 days throughout the previous, we identified that the world was altering,” Hen CEO and founder Travis VanderZanden acknowledged in an announcement forward of Disrupt. “Lengthy gone are the instances when prime line progress was the main KPI for rising companies. Sure unit economics is the brand new intention line. Which functionality, we pivoted from progress to unit economics as the top precedence for the agency. Now with the best unit economics throughout the enterprise, new Hen patrons akin to CDPQ look that we’re paving the street for an awfully prolonged size of time sustainable and wholesome enterprise.”

Sequoia Capitalbeforehand led Hen’s $300 million Series C spherical abet in June, with Roelof Botha changing into a member of Hen’s board at the time. Hen plans to make exhaust of the funding to proceed examine and building for its amount of autos.

“The workforce at Hen exemplifies grit and has embraced a laser specialise in mainly essentially the most crucial drivers of unit economics in a flowery enterprise,” Sequoia Capital companion and Hen board member Roelof Botha acknowledged in an announcement. “The diploma to which they’d been devoted to and carried out steady contribution margins in a compressed timeline is uncommon for a agency so early on in its building. We’re thrilled to reinforce our dedication to Hen and by no means sleep for seeing continued progress on their course to profitability.”

In July, Hen CEO Travis VanderZanden acknowledged Hen has optimistic unit economics on its new Hen Zero scooters, which accounts for further than 75% of its swiftly. However per among the many images VanderZanden tweeted, it seems that settle is per a size of 4 weeks throughout the summer season when scooter ridership might be higher.

The month earlier than, Hen obtained Scoot in a deal worth decrease than $25 million. That acquisition marked Hen’s first progress into former bicycles and mopeds. Shortly earlier than that, Hen unveiled a two-seater hybrid bike/moped car referred to as the Hen Cruiser. In addition to to providing shared autos, Hen is furthermore selling scooters straight to patrons. Prior to this spherical, Hen had raised further than $400 million in funding and reached a valuation of $2 billion ultimate June.

I’m speaking to VanderZanden at TechCrunch Disrupt SF factual now. Include optimistic to tune in proper right here.

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