Funding round
Altruist Series D
Altruist, which works in digital wealth management platform development in Culver City, raised $112M in a Series D round announced on 13 Apr 2023, led by Insight Partners and Adams Street Partners. 2 firms took part, 1 of them already investors. It is Altruist's second venture round on record; the one before was a Series A in Nov 2019.
$112M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Altruist did not disclose a valuation in this round. It came 41 months after Altruist's Series A. It is 25% of the $442M Altruist has raised in the venture rounds on record. Altruist raised again 13 months later: a Series E round of $169M in May 2024, at $1.50B post-money.
Altruist's funding rounds
Altruist has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Insight Partners and Adams Street Partners led the round. Insight Partners had backed Altruist before.
Lead investors
- Insight Partners backs 548 venture-backed companies existing investor
- Adams Street Partners backs 61 venture-backed companies new investor
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
The closest in time, other companies' Series D rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vestwell Investment Consultants & Financial Advisors | 21 Dec 2023 | $125M | not disclosed | Lightspeed Venture Partners |
| Investment Consultants & Financial Advisors | 12 May 2022 | $109M | $842M | Franklin Templeton and Motive Partners |
| Investment Consultants & Financial Advisors | 4 Apr 2022 | $46M | not disclosed | Fidelity International Strategic Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Altruist raise in its Series D round?
Altruist raised $112M in its Series D round, announced in Apr 2023.
Who led Altruist's Series D round?
Insight Partners and Adams Street Partners led it.
What was Altruist's valuation at the Series D round?
It was not disclosed.
Did Altruist raise again after this round?
Yes: a Series E round in May 2024 of $169M at $1.50B post-money.