What is OnDeck?
OnDeck operates as a sophisticated global online lending platform, fundamentally transforming how small and mid-sized enterprises access essential financial resources. By integrating advanced data analytics with a streamlined digital application process, the company bypasses the administrative bottlenecks inherent in traditional banking. This technological edge allows OnDeck to provide rapid, transparent financing solutions, ranging from working capital to equipment loans, effectively serving a diverse commercial client base that requires agile and reliable capital support.
How much funding has OnDeck raised?
OnDeck has raised a total of $2B across 15 funding rounds:
Series C
$19M
Series D
$59M
Debt
$130M
Series E
$77M
Stock Offering
$230M
Debt
$250M
Debt
$200M
Debt
$214M
Multiple Rounds
$500M
Debt
$85M
Debt
$125M
Series C (2011): $19M supported by SAP Ventures and SF Capital Group
Series D (2013): $59M featuring IVP, RRE Ventures, First Round Capital, and SAP Ventures
Debt (2013): $130M backed by Key Bank, Deutsche Bank, and Square 1 Bank
Series E (2014): $77M with participation from RRE Ventures, SAP Ventures, Google Ventures, First Round Capital, TriplePoint Venture Growth BDC, Peter Thiel, Industry Ventures, and IVP
Stock Issuance/Offering (2014): $230M led by Undisclosed
Debt (2016): $250M supported by Undisclosed
Debt (2016): $200M featuring Credit Suisse
Debt (2017): $214M backed by Deutsche Bank
Debt (2018): $225M with participation from Undisclosed
Debt (2018): $100M led by Pioneers Gate
Debt (2018): $175M supported by Liberty Mutual Insurance Company and Ares Management
Debt (2019): $85M featuring Silicon Valley Bank, Congressional Bank, SunTrust Bank, and MB Financial Bank
Debt (2019): $125M backed by Undisclosed
Key Investors in OnDeck
Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on investing in and providing services to technology companies, based in Palo Alto, California.
RRE Ventures
RRE Ventures is a venture capital firm dedicated to supporting founders at critical stages of their business journey through long-term partnerships.
First Round Capital
Baseline Ventures is a venture capital firm that invests in innovative startups across various sectors, with a notable track record of successful IPOs and acquisitions.
What's next for OnDeck?
Looking ahead, OnDeck is positioned to leverage its extensive history of debt and equity financing to further refine its underwriting algorithms and expand its service offerings. As the company matures, the focus will likely shift toward deepening its penetration in key industry verticals and enhancing its digital ecosystem to maintain a competitive advantage. By continuing to bridge the gap between traditional credit assessment and modern data-driven insights, OnDeck remains well-equipped to navigate the evolving demands of the global commercial lending market.
See full OnDeck company page
