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Extend – Leader In Modern Product Protection – Announces $260M Series C Led By Softbank Vision Fund 2, Achieving Unicorn Status With Over $1.6B Valuation

May 18, 2021•about 4 years ago

Amount Raised

$260 Million

Round Type

series c

Description

Extend, the leading provider of modern extended warranty and product protection plans for merchants and consumers through API-first solutions, today announced a $260M Series C funding round led by SoftBank Vision Fund 2*. The funding round also includes participation from existing investors Meritech Capital Partners, PayPal Ventures and GreatPoint Ventures, and welcomes new investors Nationwide, Tomales Bay Capital, Launchpad Capital, 10X Capital and 40North. The oversubscribed round brings Extend’s total funding to more than $315M and cements the company’s unicorn status with a $1.6B+ valuation. This new round of funding will be used to continue to scale the Extend team, accelerate its technology footprint, and expand its suite of services that improve customer loyalty and drive revenue for merchants.

Company Information

Company

Extend

About

The New York-based startup, which provides digital payment infrastructure for financial institutions so they can offer virtual cards to their users, has raised $40 million in a Series B funding round led by March Capital. The 42-person company has also developed a “developer-friendly” API catalog which Jamison says is giving issuers a way to offer APIs to its customers. So far, Extend has more than 2,000 business customers currently using its applications, is growing 30% month-over-month and has a run rate of “close to $2 billion dollars” in processing volume, or the spend clients are making on its virtual cards, according to the company. , said Jamison.Extend Extend is one such company.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech