Just eight months after launch, productivity app Slack is valued at $1.12 billion after its latest $120 million Series D financing. But Slack’s entrance into the billion-dollar valuation club was also notable for another reason. According to CB Insights data, Slack is at least the fifth Google Ventures’ portfolio company with a disclosed valuation of $1B+.
Founded in 2009, Google Ventures is on pace per CB Insights data to hit another deal high with two months left in the year if deal activity continues at its current run rate. Exits by the highly active corporate venture firm are also at their highest amount this year since the firm’s founding, including Hubspot, iPierian and Nest Labs to name a few.
But as mentioned, what’s notable is Google Ventures’ growing portfolio of billion-dollar valued companies. Counting Slack, Uber, Docusign, Kabam and Cloudera, the aggregate value of the five high-profile firms in the private markets is higher than $26 billion.
It’s also worth noting that all five of the companies saw Google Ventures participation at the Series C+ stage and so as a result, they don’t necessarily get the same “credit” as the early investors in these companies if these bets pan out (remember, they don’t always). GV also invested in lending company OnDeck Capital at the Series D stage, which is reportedly on the IPO path at a $1.5B valuation.
|Company||Valuation ($B)||Stage of First Investment|
Want more corporate venture capital data and to stalk Google Ventures? Check out the CB Insights Venture Capital Database. Sign up free below.