Sonder Canada raises US $210M, largest Canadian IT deal

Sonder through various media outlets has confirmed the closing of its US $210 million Series D financing with the bulk of the money coming from US investors.

Investors included Valor Equity Partners, Fidelity Investments Inc., Atreides Capital, A-Rod Corp. Tao Capital Partners, iNovia Growth Fund, and existing investors, Spark Capital, Greenoaks, BDC Capital, Greylock, and private investors from US, Canada and Asia.

Not mentioned in the roster of investors is Laurence Tosi who has also joined Sonder’s board of directors. Tosi had recently resigned as CFO of Airbnb in February 2018.

Montreal and San Francisco, California based Sonder offers an alternative to Airbnb and traditional hotels.

Sonder’s financing is the largest Canadian IT financing to date.

Lightspeed POS much hyped US $166 million “Series D” in 2017 turned out to be a mere US $20 million Series E round following its IPO disclosure. Much of the US $166 million was from CDPQ by way of secondary purchase of other investors’ shares. Lightspeed financing continues to inflate and distort true Canadian VC investments in every other data providers’ databases.

photo credit: Sonder

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.