Funding round
Alto Pharmacy Series E
Alto Pharmacy, which works in prescription medication fulfillment services in San Francisco, raised $200M in a Series E round announced on 27 Jan 2022, led by SoftBank Vision Fund and SoftBank, at a $1.70B post-money valuation. 7 firms took part. It is Alto Pharmacy's third venture round on record; the one before was a Series D in Jan 2020.
$200M
Amount raised
$1.70B
Post-money valuation
$1.50B pre-money
7
Investors
2 leads
2.4x
Step-up from the Series D
$700M in Jan 2020
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Alto Pharmacy at $1.70B after the new money, 2.4 times the $700M of its Series D (Jan 2020). The $200M bought investors about 12% of the company. It came 24 months after Alto Pharmacy's Series D. It is 40% of the $500M Alto Pharmacy has raised in the venture rounds on record. Alto Pharmacy raised again 17 months later: a Series F round in Jun 2023, at $531M post-money.
Alto Pharmacy's funding rounds
Alto Pharmacy has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund and SoftBank led the round with 5 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- SoftBank
Also in the round
- backs 5 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- Flucas Ventures new investor
- backs 29 venture-backed companies new investor
- The Ultima Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Drug Stores & Pharmacies, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Fuze Health Drug Stores & Pharmacies | 27 Jan 2022 | $200M | not disclosed | SoftBank Vision Fund |
| PharmEasy Drug Stores & Pharmacies | 7 Apr 2021 | $350M | $1.50B | Prosus Ventures and TPG |
| Fireblocks Software Development Services | 27 Jan 2022 | $550M | $8.00B | D1 Capital Partners and Spark Capital |
| Back Market Electronics Stores | 12 Jan 2022 | $510M | $5.70B | Sprints |
| Plenty Farms & Agriculture Production | 25 Jan 2022 | $400M | $1.90B | One Madison Group and JSCapital |
| Bolt Payment Processing & Point of Sale | 14 Jan 2022 | $355M | $11.00B | BlackRock |
| CARSOME Automobile Dealers & Manufacturers | 10 Jan 2022 | $290M | $1.70B | Qatar Investment Authority and 65 Equity Partners |
| CARSOME Automobile Dealers & Manufacturers | 31 Jan 2022 | $290M | $1.70B | Qatar Investment Authority |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Alto Pharmacy raise in its Series E round?
Alto Pharmacy raised $200M in its Series E round, announced in Jan 2022.
Who led Alto Pharmacy's Series E round?
SoftBank Vision Fund and SoftBank led it, with Madryn Asset Management, Sand Hill Angels, Flucas Ventures, What If Ventures and The Ultima Ventures.
What was Alto Pharmacy's valuation at the Series E round?
$1.70B post-money ($1.50B pre-money).
Did Alto Pharmacy raise again after this round?
Yes: a Series F round in Jun 2023 at $531M post-money.