About Sila
Sila is a company based in Portland (United States) founded in 2017. It operates as a API-as-a-Product, Professional Services, and FinTech. Sila has raised $23.68 million across 3 funding rounds from investors including Revolution, Madrona and Oregon Venture Fund. The company has 49 employees as of December 31, 2022. Sila offers products and services including ACH Payment API, Virtual Accounts, Digital Wallet API, Fraud Prevention, and Identity Verification (KYC/KYB). Sila operates in a competitive market with competitors including Zeta, Tink, Bud, Finix and Apiture, among others.
- Headquarter Portland, United States
- Employees 49 as on 31 Dec, 2022
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Sila®
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23.68 M (USD)
in 3 rounds
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Latest Funding Round
$13 M (USD), Series A
Jul 26, 2021
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Investors
Revolution
& 10 more
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Employee Count
49
as on Dec 31, 2022
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Products & Services of Sila
Sila offers a comprehensive portfolio of products and services, including ACH Payment API, Virtual Accounts, Digital Wallet API, Fraud Prevention, and Identity Verification (KYC/KYB). The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
API for fast and secure ACH transfers is provided.
Designated accounts for ACH deposits are made available.
Custom payment flows for wallets are enabled securely.
Simplified fraud protection in APIs is integrated effectively.
Automated user verification to reduce fraud is offered.
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Funding Insights of Sila
Sila has successfully raised a total of $23.68M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $13 million completed in July 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $13.0M
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First Round
First Round
(17 May 2018)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Series A - Sila | Valuation | Revolution | |
| Mar, 2020 | Amount | Seed - Sila | Valuation | Hope Cochran , Rick Holt | |
| May, 2018 | Amount | Seed - Sila | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Sila
Sila has secured backing from 11 investors, including venture fund and angel investors. Prominent investors backing the company include Revolution, Madrona and Oregon Venture Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Revolution is recognized as a D.C.-based investment firm.
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Founded Year | Domain | Location | |
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Venture capital investing in AI, biotech, and technology sectors, focusing on seed and early stages in Seattle and beyond.
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Founded Year | Domain | Location | |
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Funding is provided to innovative startups in Oregon.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sila
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Sila
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sila Comparisons
Competitors of Sila
Sila operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zeta, Tink, Bud, Finix and Apiture, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment and banking solutions are provided to users and banks.
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| domain | founded_year | HQ Location |
Tink is recognized as a leading European open banking platform.
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| domain | founded_year | HQ Location |
Bud Financial is focused on transforming transaction data into actionable insights for financial institutions.
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| domain | founded_year | HQ Location |
API-enabled platform for business payment processing is provided.
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| domain | founded_year | HQ Location |
Open banking APIs are delivered to financial institutions and banks.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sila
Frequently Asked Questions about Sila
When was Sila founded?
Sila was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is Sila located?
Sila is headquartered in Portland, United States. It is registered at Portland, Oregon, United States.
Is Sila a funded company?
Sila is a funded company, having raised a total of $23.68M across 3 funding rounds to date. The company's 1st funding round was a Seed of $2.94M, raised on May 17, 2018.
How many employees does Sila have?
As of Dec 31, 2022, the latest employee count at Sila is 49.
What does Sila do?
Sila is established as a comprehensive payments platform for fintech applications. Solutions are provided for building and launching apps with embedded payment products. The platform is designed to streamline ACH processing, bank account linking, and instant settlement through a single API. Sectors such as payroll, PropTech, and iGaming are served with secure and scalable money transfer solutions. Compliance with U.S. regulatory standards is prioritized, and a developer-friendly environment with free sandbox testing is offered. Integration with pre-approved partners for additional functionality is facilitated.
What products or services does Sila offer?
Sila offers ACH Payment API, Virtual Accounts, Digital Wallet API, Fraud Prevention, and Identity Verification (KYC/KYB).
Who are Sila's investors?
Sila has 11 investors. Key investors include Revolution, Madrona, Oregon Venture Fund, Mucker, and Taavet Hinrikus.
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