Gary Turner talks about the context behind 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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UK context behind Xero’s decision to raise US$150M – Gary Turner
Published by Uma Rajagopal
Posted on October 28, 2013
1 min readKey Takeaways
- Xero raised US$150 million from Matrix Capital Management, Peter Thiel’s Valar Ventures and other investors.
- The funding was aimed at accelerating Xero’s U.S. expansion and to challenge Intuit's dominance in small business accounting.
- U.S. investors contributed the majority—about US$123 million—highlighting the strategic focus on the U.S. market.
References
Frequently Asked Questions
Who invested in this funding round?
Matrix Capital Management, Peter Thiel’s Valar Ventures and a range of other U.S. and New Zealand investors.
What was the purpose of the funding?
To accelerate Xero’s expansion in the U.S. and challenge Intuit’s position in small business accounting.
How much of the funding came from U.S. investors?
Approximately US$123 million of the US$150 million raised came from U.S. investors.
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