Amount$100M
Post-money valuation$800M
SeriesSeries D
AnnouncedAug 3, 2025
Valuation step-up2.0×
Time since last round35 mo
Strong
A strong, well-structured round.
Round size vs peers
In line with the typical Series D round.
Syndicate size
8 investors on the cap table.
Insider conviction
3 existing investors re-upped — insiders doubling down.
Investor track record
Mostly newer or unproven managers.
Valuation step-up
Healthy 2.0× valuation step-up.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Series D rounds (1,000)
Round size distribution59th pct
smaller Series D roundslarger
Post-money valuation16th pct
$65Mthis round: $800M$6B
