Branch closes a new round of funding

Based on information obtained by Coverager, Branch has quietly secured a new round of funding about a month ago.

According to multiple sources, Branch’s valuation took a hit as the new round was a down round and “highly structured.” In June 2022, Branch announced a $147 million Series C round at a $1.05 billion valuation.

Sources also shared that Branch is looking to raise additional funding.

In June, Branch laid off ~180 employees, about 30% of its staff.

We reached out to Branch for a comment.