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HISTORICAL P100 / #42

Navan

Corporate Travel & Expense · United States

Historical ranking valuation$9.20BSource snapshot: Jun 19, 2026
Financing events14
Named participants16
Captables stories1

Disclosed primary funding in this record

$1.1B

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

8 confirmed primary rounds with disclosed USD amounts · Record through 2026-09-29
THE BUSINESS

Get to know Navan.

Navan provides business-travel booking and expense-management software. Its investor FAQ says Class A shares began trading on Nasdaq under NAVN on October 30, 2025; this historical private-company catalog entry is not a current-private claim.

Navan investor FAQ and product overview ↗Source checked Sep 24, 2026

Valuation history

Valuations reported at the time of each round.

$9.2B post-money package valuationSeries G (disclosed equity component) · ConfirmedSource ↗
$9.2B post-money package valuationSeries G (structured capital component) · AnnouncedSource ↗
$7.25B post-moneySeries F · ConfirmedSource ↗
$5B; basis not specified by counselSeries E · ConfirmedSource ↗
$4.0BSeries D · ConfirmedSource ↗
$14MSeed · Database listedSource ↗

Funding history

Funding rounds, debt and other financing events.

13sourced events · record as of 2026-09-29

Navan says its Class A shares began Nasdaq trading as NAVN on October 30, 2025 and its IPO closed October 31. The June 2026 private-company source rank is therefore a historical source error, not current private P100 eligibility. The IPO included 30 million issuer shares and 6.9 million selling-holder shares at $25; Navan received no proceeds from the selling-holder shares. Its October 2022 Series G package comprised $154M equity and $150M structured capital, not $304M entirely of primary equity. Issuer releases substantiate D/F; F states $7.25B post-money. Financing counsel supports A/B/C/E; participating investor accounts establish one incremental $12.5M A extension and B announcement timing. The original A close date remains unknown. Cumulative A totals and counsel's later publication are not extra rounds. The June 2020 convertible-to-IPO terms are undisclosed; that convertible, structured capital and February 2020 / December 2022 credit-facility limits stay outside confirmed primary equity. Capacity is not drawn cash and separate facilities are not assumed additive or still active. Announcement dates are not authenticated closing dates. One older seed database observation remains unresolved, including its possible overlap with later A amounts; this is not a complete legal financing register or current shareholder ledger.

Oct 31, 2025LATEST SOURCED
other

Nasdaq IPO closed (trading began October 30)

Investors undisclosed

Amount30M issuer shares and 6.9M selling-holder shares at $25; notValuationUndisclosed
Dec 8, 202212
debt

Goldman Sachs / SVB credit facilities

Goldman Sachs Bank USA · Silicon Valley Bank

Issuer describes a Goldman Sachs warehouse facility with a $200M commitment and $300M total program limit, plus a $100M SVB asset-backed facility. Its $400M headline is maximum facility capacity, not disclosed drawn capital or issuer equity. December 8 is the announcement date, not an authenticated cash-receipt date.

AmountUp to $400M capacity; drawn amount undisclosedValuationUndisclosed
Oct 12, 202211
primary

Series G (disclosed equity component)

Investors undisclosed

Issuer discloses $154M equity alongside a separate $150M structured transaction in the same Series G package. Its $300M headline is rounded package context, not another raise. The release does not assign the equity lead or exact participating vehicles; Coatue is identified as the structured-capital lead only. October 12 is the announcement date, not a separately authenticated closing date.

Amount$154MValuation$9.2B post-money package valuation
Oct 12, 202210
other

Series G (structured capital component)

Coatue (lead)

This is the structured-capital component of the same package, not another round or $150M on top of a separate $304M primary raise. The release does not establish its detailed legal security terms or whether it should be treated as ordinary equity or debt; it remains outside the confirmed-primary subtotal. No current ownership or settlement is inferred.

Amount$150M structured capitalValuation$9.2B post-money package valuation
Oct 13, 202109
primary

Series F

Greenoaks (lead) · Elad Gil · Base Partners

Issuer announces $275M Series F growth funding at $7.25B post-money, correcting the database's rounded $7.3B. It names Greenoaks as lead, Elad Gil and Base Partners as participants, and refers to unnamed existing financial investors. The imported a16z / Lightspeed / Group 11 / Zeev roster is not established for this specific round and is withheld. Named firms are historical round participants, not authenticated subscribing fund entities, allocations, LPs or current holdings. October 13 is the announcement date, not an authenticated closing date.

Amount$275MValuation$7.25B post-money
Jan 21, 202108
primary

Series E

Andreessen Horowitz (lead) · Addition (lead) · Elad Gil (lead) · Zeev Ventures · Lightspeed Venture Partners · Greenoaks Capital

Source published Jan 21, 2021; not a financing date

Financing counsel substantiates $155M Series E and the named historical lead/participant roster. Its $5B valuation does not specify pre-money or post-money basis. Addition and Greenoaks Capital retain the source's names, not inferred fund suffixes. These are not authenticated subscribing legal vehicles, allocations, LPs or current holdings. January 21 is the account's publication date, not an authenticated closing date. The old issuer link redirects to an unrelated rebranding article and is not the retained financing source.

Amount$155MValuation$5B; basis not specified by counsel
Jun 16, 202007
other

Convertible-to-IPO financing (terms undisclosed)

Greenoaks Capital (lead) · Vista Credit Partners

Issuer reports $125M convertible-to-IPO financing on June 16, correcting the imported June 10 date. Greenoaks Capital led and Vista Credit Partners participated; Vista Equity Partners is identified as VCP's parent, not a separately named subscribing investor. Goldman Sachs & Co. LLC acted as exclusive placement agent, not a disclosed investor. The release explicitly withholds the financing terms: this row is not ordinary primary equity, does not infer debt terms, valuation, conversion, ownership or settlement at the later IPO, and remains outside the confirmed-primary subtotal. Brand-level names do not establish exact subscribing vehicles, allocations or current holdings. June 16 is the announcement date, not an authenticated closing date.

Amount$125MValuationUndisclosed
Feb 25, 202006
debt

TripActions Liquid debt facility

Silicon Valley Bank (lead) · Goldman Sachs · Comerica Bank

Issuer reports a debt facility of up to $500M led by Silicon Valley Bank with Goldman Sachs and Comerica Bank participating. The upper limit is capacity, not disclosed drawn capital, equity or an additional primary round. Product partners and customers are not lenders. The release does not establish exact lending vehicles, allocations, cash receipt, present availability, or whether later facilities replace or supplement this one. February 25 is the announcement date, not an authenticated draw or closing date.

AmountUp to $500M capacity; drawn amount undisclosedValuationUndisclosed
Jun 27, 201905
primary

Series D

Andreessen Horowitz (lead) · Zeev Ventures · Lightspeed Venture Partners · Group 11

Issuer says it raised $250M Series D led by Andreessen Horowitz with Zeev Ventures, Lightspeed Venture Partners and Group 11 (formerly SGVC). The $4B valuation is stated without an explicit pre-money or post-money basis. David George is quoted as an a16z general partner, not as a separately disclosed personal investor. Brand-level participants do not establish subscribing legal funds, individual allocations, LPs or current holdings. June 27 is the announcement date, not an authenticated closing date.

Amount$250MValuation$4.0B
Nov 8, 201804
primary

Series C

Andreessen Horowitz (lead) · Lightspeed Venture Partners · Zeev Ventures · SGVC

Source published Nov 8, 2018; not a financing date

Financing counsel substantiates $154M Series C and its lead and named participants, but does not establish an exact valuation; not the imported $1.0B. The linked issuer original could not be retrieved here. SGVC is preserved as the historical source name, not authenticated current holdings or a new separate investor alongside Group 11. November 8 is the account's publication date, not an authenticated closing date. No subscribing fund entities, allocations or LPs are established.

Amount$154MValuationUndisclosed
Mar 7, 201803
primary

Series B

Lightspeed Venture Partners (lead) · Zeev Ventures (lead)

Source published May 23, 2018; not a financing date

Counsel names Lightspeed Venture Partners and Zeev Ventures as leads of $51M Series B; Group 11 is not established for this specific financing. Lightspeed's https://lsvp.com/stories/adding-more-fuel-to-take-tripactions-to-new-heights/ is dated March 7, 2018 and supports the retained announcement date. Counsel's May 23 publication is not a second May round, not an authenticated closing date. The investor's prior $27M Series A context is not additional Series B money. Exact subscribing vehicles, allocations and current holdings are unknown.

Amount$51MValuationUndisclosed
Apr 201702
primary

Series A extension (incremental)

Lightspeed Venture Partners (lead)

Source published Oct 4, 2017; not a financing date

Lightspeed's October 4 account identifies an additional $12.5M to complete Series A and its lead role. Its March 7, 2018 account at https://lsvp.com/stories/adding-more-fuel-to-take-tripactions-to-new-heights/ places the preceding A completion in April 2017. April 1 is a month storage anchor, not an authenticated close day and not an October financing date. The later $27M context is the combined A, not another $27M round on top of the $14.6M base and $12.5M extension. Other extension subscribers and exact legal vehicles are not separately established; no current holdings or allocations inferred.

Amount$12.5M incrementalValuationUndisclosed
Date undisclosedUNDATED
primary

Series A

Zeev Ventures (lead) · Lightspeed Venture Partners

Source published Jan 25, 2017; not a financing date

Financing counsel supports $14.6M Series A, not the imported rounded $15M. January 25, 2017 is source publication, not an authenticated closing date; the prior January 24 announcement anchor does not establish when the money closed. Named Oren Zeev and Arif Janmohamed are attributed to Zeev Ventures and Lightspeed, not personal subscriptions or exact subscribing vehicles. Group 11 is not established for this specific financing. Prior seed inclusion and current ownership remain unknown; do not add an unverified seed amount to this disclosed A base.

Amount$14.6MValuationUndisclosed
Unverified database leads (1)

These database claims have not been independently verified and are excluded from the sourced-event count.

Jun 1, 2015UNVERIFIED
primary

Seed

Investor participation not independently verified

Amount$4MValuation$14M

Financing participants

Investors, lenders and other parties named in funding announcements.

Goldman Sachs Bank USA

Goldman Sachs / SVB credit facilities · Dec 8, 2022 · Participant · debt · Confirmed · Confirmed source ↗

Silicon Valley Bank

Goldman Sachs / SVB credit facilities · Dec 8, 2022 · Participant · debt · Confirmed · Confirmed source ↗

TripActions Liquid debt facility · Feb 25, 2020 · Lead participant · debt · Confirmed · Confirmed source ↗

Coatue

Series G (structured capital component) · Oct 12, 2022 · Lead participant · other · Announced · Announced source ↗

Greenoaks

Series F · Oct 13, 2021 · Lead participant · primary · Confirmed · Confirmed source ↗

Base Partners

Series F · Oct 13, 2021 · Participant · primary · Confirmed · Confirmed source ↗

Addition

Series E · Jan 21, 2021 · Lead participant · primary · Confirmed · Confirmed source ↗

Lightspeed Venture Partners

Series E · Jan 21, 2021 · Participant · primary · Confirmed · Confirmed source ↗

Series D · Jun 27, 2019 · Participant · primary · Confirmed · Confirmed source ↗

Series C · Nov 8, 2018 · Participant · primary · Confirmed · Confirmed source ↗

Series B · Mar 7, 2018 · Lead participant · primary · Confirmed · Confirmed source ↗

Series A extension (incremental) · Apr 2017 · Lead participant · primary · Confirmed · Confirmed source ↗

Series A · Date undisclosed · Participant · primary · Confirmed · Confirmed source ↗

Greenoaks Capital

Series E · Jan 21, 2021 · Participant · primary · Confirmed · Confirmed source ↗

Convertible-to-IPO financing (terms undisclosed) · Jun 16, 2020 · Lead participant · other · Confirmed · Confirmed source ↗

Vista Credit Partners

Convertible-to-IPO financing (terms undisclosed) · Jun 16, 2020 · Participant · other · Confirmed · Confirmed source ↗

Goldman Sachs

TripActions Liquid debt facility · Feb 25, 2020 · Participant · debt · Confirmed · Confirmed source ↗

Comerica Bank

TripActions Liquid debt facility · Feb 25, 2020 · Participant · debt · Confirmed · Confirmed source ↗

Ownership evidence

Opening ownership research…

Captables coverage

Deals / Captables

Navan's latest round: $304M Series G

Navan's latest public financing record lists $304M in its Series G dated October 12, 2022 at a reported valuation of $9.2B. Captables places the event in the company's disclosed funding history.

Captables Newsroom · 58d ago