Public.com Announces $65 Million in Series C Funding
NEW YORK--(BUSINESS WIRE)--Dec 15, 2020--
Public.com, the investing social network, today announced that it has raised $65 million in Series C funding. This comes eight months after the company’s $15 million Series B fundraise, bringing the total funding to date to $90 million.
Accel leads the round for the third consecutive time and is joined by Lakestar and previous investors Greycroft and Advancit Capital. Also participating in the round are professional skateboarder and entrepreneur Tony Hawk, business executive Dick Parsons, and The Chainsmokers’ MANTIS VC.
With the additional funding, the company plans to double-down on its people-first approach to investing.
“We couldn’t be more thrilled about our investment in Public.com and the potential this company has,” said Alex Pall, partner at MANTIS VC and member of The Chainsmokers. “We’re all about community and Public’s social focus makes the stock market a more inclusive space where everyone can get educated and excited about investing.”
The new capital comes during a time in which people are seeking new ways to learn about and experience the stock market. Public.com’s community of investors has grown 10x since its launch in September 2019 and is approximately 40 percent women.
“Our mission to change the culture of investing is resonating with a new generation of investors who value collaboration over competition,” said Leif Abraham, co-CEO of Public.com. “By building the social network for investing, we’re giving people a place to share ideas and discover new ways of thinking in the same place they invest.”
This culture-shift is evidenced by the roster of high-profile Wall Street outsiders who have joined the community, including skateboard legend Tony Hawk, who participated in the latest round.
“The stock market has historically been an intimidating place reserved for a lucky few. As technology continues to disrupt barriers, Public.com is creating a platform that makes investing accessible to everyone; while providing a place where they can share ideas and build their confidence as they build their portfolios,” Hawk said.
Other prominent community members include actor and activist Adrian Grenier; Aerie model and body positivity activist Iskra Lawrence, Premier Lacrosse League co-founder Paul Rabil; Chillhouse Founder & CEO Cyndi Ramirez-Fulton; Harlem Capital partner Brandon Bryant; and business professor Scott Galloway, who invested seven figures in the company earlier this year.
Public.com is the investing social network where members can own fractional shares of stocks and ETFs, follow popular creators, and share ideas within a community of investors. Public makes the stock market an inclusive and educational place, with social features that make it easy to collaborate as you build your confidence as an investor.
The company is headquartered in New York and has raised $90 million to date from investors including Accel, Greycroft, Lakestar, Will Smith’s Dreamers VC, business professor and entrepreneur Scott Galloway, Tony Hawk, The Chainsmokers’ Mantis VC, GIRLBOSS author Sophia Amoruso, Adobe Chief Product Officer Scott Belsky, business executive Dick Parsons, Advancit Capital, Blavity Inc. CEO and Founder Morgan Debaun, and Worklife VC.
Public is a member of FINRA and SIPC. Visit Public.com to download the free app for iOS or Android.
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PUB: 12/15/2020 07:58 AM/DISC: 12/15/2020 07:58 AM