Publications
Publications
- February 2024 (Revised February 2025)
- HBS Case Collection
Financing Matillion's Scaleup (A)
By: Raymond Kluender, Emanuele Colonnelli and Ramana Nanda
Abstract
In 2019, Matthew Scullion, founder and CEO of U.K. startup Matillion, faced a decision about which term sheet to accept for the lead investor in his company’s $35 million Series C financing round. Would the connections and opportunities offered by Silicon Valley-based VC Battery Ventures make up for its lower valuation offer, or would Scullion be better off choosing a European investment firm to lead the round?
Keywords
Entrepreneurship; Negotiation; Ownership; Business Startups; Decisions; Venture Capital; Financing and Loans; Valuation; Information Technology Industry; United Kingdom
Citation
Kluender, Raymond, Emanuele Colonnelli, and Ramana Nanda. "Financing Matillion's Scaleup (A)." Harvard Business School Case 824-140, February 2024. (Revised February 2025.)