Rod Drury talks about the excitement and opportunities following the announcement that Xero has raised US$150 million from Matrix Capital Management, Peter Thiel’s Valar Ventures and a range of other investors
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Interview with Xero CEO Rod Drury
Published by Uma Rajagopal
Posted on October 28, 2013
1 min readKey Takeaways
- Xero raised US$150 million led by Matrix Capital Management and Valar Ventures.
- Funding to accelerate global expansion, particularly in the U.S., and compete with incumbents like Intuit.
- Transaction priced at approximately US$15.10 per share, representing ~8% post-raise share dilution.
- US investors contributed around US$123 million of the round to support U.S. growth efforts.
References
Frequently Asked Questions
Who led the US$150 million funding round?
The round was led by existing investors Matrix Capital Management and Peter Thiel–backed Valar Ventures, alongside other US and New Zealand investors.
What will the funds be used for?
The capital is intended to accelerate Xero’s global expansion—especially in the US—and invest in growth, teams and product development to challenge competitors like Intuit.
How much of the funding came from US investors?
Approximately US$123 million of the US$150 million came from US-based investors.
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