Conductor, a firm once acquired by WeWork and sold after WeWork’s 2019 failed IPO attempt, has raised its first round of funding as an independent startup. Conductor was sold at a price of $3.5 million following WeWork’s 2019 IPO attempt.
The tech company raised $150 million at a $525 million post-money valuation—which represents a significant leap from $3.5 million. According to reports, about half of the funds raised will be in the form of secondary shares that are going to the employee-owners of the business. The other half is new equity to put into the business.
Conductor will use part of the funds to improve its platform, specifically improving its search traffic to help companies create effective marketing strategies. According to Conductor, search traffic is key to understanding what users want and what they are doing.