Funding round
Altruist Series A
Altruist, which works in digital wealth management platform development in Culver City, raised $8.5M in a Series A round announced on 25 Nov 2019, led by Venrock. 1 firm took part. It is Altruist's first venture round on record.
$8.5M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Altruist did not disclose a valuation in this round. It is Altruist's first venture round on record, 1 year after it was founded in 2018. It is 1.9% of the $442M Altruist has raised in the venture rounds on record. Altruist raised again 41 months later: a Series D round of $112M in Apr 2023. Its next priced round, a Series E in May 2024, valued it at $1.50B.
Altruist's funding rounds
Altruist has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Venrock led the round.
Lead investor
- Venrock backs 93 venture-backed companies new investor
Joined the board: Nick Beim (Venrock).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
20 Series A rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $7.7M, and this round was close to the median. The closest in time, other companies' Series A rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 10 Dec 2019 | $5.5M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 19 Oct 2019 | $2.4M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 22 Jan 2020 | $8.4M | not disclosed | Kuwait Projects Company (KIPCO) |
| Investment Consultants & Financial Advisors | 20 Jan 2020 | $7.3M | not disclosed | YFM Equity Partners |
| Investment Consultants & Financial Advisors | 28 Jan 2020 | $6.0M | not disclosed | VanEck |
| Investment Consultants & Financial Advisors | 21 Jan 2020 | $6.0M | not disclosed | Chiratae Ventures |
| Investment Consultants & Financial Advisors | 10 Sep 2019 | $6.0M | not disclosed | Calibrate Ventures |
| Investment Consultants & Financial Advisors | 18 Jul 2019 | $13M | not disclosed | Nyca Partners |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Altruist raise in its Series A round?
Altruist raised $8.5M in its Series A round, announced in Nov 2019.
Who led Altruist's Series A round?
Venrock led it.
What was Altruist's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Investment Consultants & Financial Advisors?
20 Series A rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $7.7M, and this round was close to the median.
Did Altruist raise again after this round?
Yes: a Series D round in Apr 2023 of $112M.