Mixed
A mixed round — some signals are off the norm.
Round size vs peers
Far above the typical Series D round (9.4× the median) — an outlier.
Syndicate size
Single investor — limited external validation.
Insider conviction
All-new money — no prior investors re-upped.
Investor track record
Backed by established, high-track-record investors.
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 distribution97th pct
smaller Series D roundslarger
Post-money valuation87th pct
$65Mthis round: $5B$6B
