It says:<p>- they want to hire more senior managers<p>- they want to open offices outside the US (and maybe sales ppl)<p>- they want to hire more engineers to work on the product<p>I don&#x27;t specifically know why they raised, but often it&#x27;s because, although revenue is growing, so is spending. So if you make (say) $30M per year, that&#x27;s great, but you&#x27;re probably spending $30-35M per year. So money in the bank (from all previous rounds) is usually less than a year&#x27;s worth of revenue&#x2F;spending. That&#x27;s not so safe, come an economic downturn (or your growth flatlines), you&#x27;re caught with your pants down. (Note that this actually assumes a fairly successful startup with revenue in the same ballpark as spending.) So companies raise more money for protection. It makes sense for them if they&#x27;re growing, because they can get it for &quot;cheap&quot;. Cheap means they can sell the VCs on future growth (high valuation), so they have to give up a relatively low % of the company in return for the safety net of having money in the bank.