Back to Blog

Xero Raises $49 million from Peter Thiel-Backed Valar Ventures and Matrix Capital Management


Cloud-based accounting platformXero announced last week a NZ$82 million (US$67 million) investment from the following two companies:

    • Matrix Capital Management: NZ$58 million (US$48 million)
    • Peter Thiel-backed Valar Ventures: NZ$24 million (US$19 million)

Of the total, NZ$60 mil (US$49 mil) was new money and another NZ$22 million (US$18 million) went to purchase shares from Xero’s three largest shareholders. The new investors purchased the shares in order to minimize dilution to existing shareholders.

To learn more about Xero, watch its FinovateSpring 2011 demo.