Convoy, Inc. announced that it has received $260 million in funding from a group of investors
April 20, 2022
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Convoy, Inc. announced that it has closed a round of funding comprised of a $160 million Series E preferred equity led by returning investors Baillie Gifford & Co. and T. Rowe Price Associates, Inc. and $100 million venture-debt investment from Hercules Capital, Inc.; aggregate gross proceeds of $260 million on April 21, 2022. The transaction included participation from new investor Park West Asset Management LLC, also included returning investors Generation Investment Management LLC, Fidelity Investments, Durable Capital Partners, LP, CapitalG Management Company, LLC, Lone Pine Capital LLC, Greylock Partners, Y Combinator Management LLC, individual investors Bill Gates, Jeff Bezos, Marc Benioff, Hadi, Ali Partovi, Bono, The Edge and other investors. The transaction was raised at post-money valuation of $3,800 million.
Hercules Capital, Inc. is a specialty finance company. The Company is focused on providing financing solutions to venture capital-backed and institutional-backed companies in a variety of technology, life sciences and sustainable and renewable technology industries. It is structured as an internally managed, non-diversified, closed-end investment company. Its business objectives are to increase its net income, net investment income, and net asset value (NAV) through its investments in primarily Structured Debt or senior secured debt instruments of venture capital-backed and institutional-backed companies across a variety of technology related industries at attractive yields. It invests in a range of companies active in the technology industry sub-sectors characterized by products or services that require advanced technologies, including, computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure and others.
HERCULES CAPITAL, INC. 
