Clubhouse raised undisclosed funds at a valuation of $4 billion in Series C

‘Social Audio’ app Clubhouse has raised a Series C funding, reportedly valuing the company at $4 billion. Clubhouse said the new round of financing was led by Andrew Chen of Andreessen Horowitz, with participation from DST Global, Tiger Global and Elad Gil. This round means Clubhouse has tripled the valuation it attained in January when Andreessen Horowitz led its Series B funding round.

But, unusually for such a late stage of funding, the company has not revealed the amount raised. Industry sources say that this is probably because the Series C funding round is ‘multi-stage’ and therefore not officially closed. Alternatively, the company is ‘hyping’ itself ahead of a sale, as is often the case with ‘hot’ startups.

The year-old platform, which has reported 10 million weekly active users, has thrived during the pandemic while people were locked down and therefore unable to chat easily in person.

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