FRESHNESS FLAG: no primary funding round since Sept 2021 -- roughly five years stale as of Sept 2026. Discord filed a confidential S-1 with the SEC on 2026-01-06 (Goldman Sachs/JPMorgan leading); the original Q1/March 2026 target has been missed, with the current base case slipping to H2 2026 or more likely 2027 given SEC review backlog. Bloomberg's original report noted Discord 'might ultimately decide not to go forward' with the IPO at all -- that optionality is still live. Humam Sakhnini (former Activision Blizzard vice chairman) became CEO Apr 28 2025 explicitly ahead of the IPO push, with founder Jason Citron moving to an advisor/board role. Mid-2026 Forge Global secondary marks imply ~$8.5B (~$31.31/share as of Jul 8 2026), down from the corrected ~$14.7-15B 2021 peak and below the ~$12B Microsoft reportedly offered to acquire Discord for in 2021 (an offer Discord rejected).
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series B | 2017-01-01 | $775M | Index Ventures |
| Series C | 2018-04-01 | $1.6B+113% | Undisclosed -- no primary source names a lead; backers named (Benchmark, Spark Capital, IVP, Greylock) without one singled out |
| Series D | 2018-12-01 | $2.0B+21% | Greenoaks Capital |
| Series E | 2020-06-01 | $3.5B+75% | Index Ventures (partner Danny Rimer) |
| Series F | 2020-12-01 | $7.3B+109% | Greenoaks Capital |
| Series H | 2021-09-16 | $14.7B+101% | Dragoneer Investment Group (also Baillie Gifford, Coatue, Fidelity, Franklin Templeton) |
No upcoming rounds currently reported.
| Status | S-1 Filed |
|---|---|
| Banks | Goldman Sachs, JPMorgan |
| Timing | H2 2026 or more likely 2027 (slipped from an original Q1/March 2026 target) |
| Notes | Filing still confidential as of Sept 2026 -- no public filing, roadshow, pricing range, or listing date. Bloomberg reported Discord may ultimately decide not to proceed with the IPO at all. CEO Humam Sakhnini (ex-Activision Blizzard) was brought in explicitly ahead of this push. |
| Source | Bloomberg, Jan 6 2026 |
These are cited news signals only, not a PrePost prediction — year/valuation forecasting is on the roadmap but not live yet.
Transparent, formula-based composite (not machine-learned) of five signals: raise velocity, round acceleration, secondary premium/discount vs. the last primary round, up-round streak, and freshness of the last known mark.