HubX raises $50m at $1.2bn pre-money valuation
HubX’s first external financing combines a $50m investment from Point72 Private Investments with an option for another $25m.
HubX raised $50 million at a $1.2 billion pre-money valuation in a Point72-led financing. The agreement also includes an option for an additional $25 million; that option is separate from the capital already invested.
The transaction brings an outside investor into a business that had previously financed its own growth. HubX says it has remained profitable while building a consumer-app portfolio. Its acquisition model would give incoming product teams access to shared technology and distribution while retaining their product identities.
Use of funds
Grow the existing consumer app portfolio
Develop a global acquisition platform
Invest in shared technology, AI and data capabilities