alt Hacker NewsRead the blog post on their series C [0]. It's not long, but the most relevant excepts are:
> So if we didn’t need to raise, why seek the capital? Well, we weren’t seeking it, really. But our investors, seeing the business take off, were eager to support it. And we, in turn, were eager to have them: they were the ones, after all, who joined us in taking a real leap when it felt like there was a lot more risk on the table.
> ...
> Our intent in starting Oxide was not to be an acquisition target but rather build a generational company; this is our life’s work, not a means to an end. With our Series C, customers don’t have to merely take our word for it: we have the capital to assure our survival into the indefinite future.
Maybe you could read that and think its complete bullshit and they're lying their asses off. Considering the people behind Oxide and their history, that's vanishingly unlikely though.
The reasonable conclusion is that they would not have raised yet more money if it wasn't due to being offered very generous terms by investors who wouldn't threaten the long-term future of the business.
It says "they've entirely derisked capital" and now ~6 months later they raised twice as much. Lying is a strong word but that post clearly wasn't accurate at the time.
They've raised a lot of money and there will be pressure for an exit sooner rather than later.