Publicizing money raises has (at least) two effects:
(1) It is a warning to competitors not to enter the market unless they're willing to put up a similar amount (all things being equal).
(2) It validates the valuation, which ultimately sets the bar for the next round or IPO.
Note that a company (with majority investors) will be wound up as soon as the prospects look bleak, even if there is plenty of money available. So in a financial environment with few alternatives (i.e., low interest rates), it makes sense to park your money as a threat to competitors, so long as the run rate roughly tracks the residual value increase in a fire sale.
(1) It is a warning to competitors not to enter the market unless they're willing to put up a similar amount (all things being equal).
(2) It validates the valuation, which ultimately sets the bar for the next round or IPO.
Note that a company (with majority investors) will be wound up as soon as the prospects look bleak, even if there is plenty of money available. So in a financial environment with few alternatives (i.e., low interest rates), it makes sense to park your money as a threat to competitors, so long as the run rate roughly tracks the residual value increase in a fire sale.