Funding round
Altruist Series E
Altruist, which works in digital wealth management platform development in Culver City, raised $169M in a Series E round announced on 2 May 2024, led by ICONIQ Growth, at a $1.50B post-money valuation. 4 firms took part, 2 of them already investors. It is Altruist's third venture round on record; the one before was a Series D in Apr 2023.
$169M
Amount raised
$1.50B
Post-money valuation
4
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Altruist at $1.50B after the new money. The $169M bought investors about 11% of the company. It came 13 months after Altruist's Series D. It is 38% of the $442M Altruist has raised in the venture rounds on record. Altruist raised again 11 months later: a Series F round of $152M in Apr 2025, at $1.90B post-money.
Altruist's funding rounds
Altruist has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
ICONIQ Growth led the round with 3 other firms. Adams Street Partners and Sound Ventures had backed Altruist before.
Lead investor
- ICONIQ Growth new investor
Also in the round
- Granite Capital Management new investor
- Adams Street Partners backs 61 venture-backed companies existing investor
- Sound Ventures backs 114 venture-backed companies existing investor
Joined the board: Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth), Yoonkee Sull (ICONIQ Growth) and Yoonkee Sull (ICONIQ Growth).
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: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vercel Hosting & Cloud Infrastructure Providers | 16 May 2024 | $250M | $3.25B | Accel |
| Tech Companies | 15 May 2024 | $140M | $1.60B | Valor |
| Insurance - Agents, Carriers & Brokers | 15 May 2024 | $80M | not disclosed | Spark Capital |
| Insurance - Agents, Carriers & Brokers | 14 May 2024 | $15M | not disclosed | Canaan and New Leaf Venture Partners |
| Loans & Financing | 26 Jun 2024 | $1.22B | not disclosed | not named |
| Tech Companies | 30 Apr 2024 | $150M | $900M | Accel |
| Electric Supplies & Power Generation | 11 Jun 2024 | $136M | not disclosed | Export Development Canada |
| Pharmaceutical Products | 12 Jun 2024 | $100M | not disclosed | Alerce Medical Technology Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Altruist raise in its Series E round?
Altruist raised $169M in its Series E round, announced in May 2024.
Who led Altruist's Series E round?
ICONIQ Growth led it, with Granite Capital Management, Adams Street Partners and Sound Ventures.
What was Altruist's valuation at the Series E round?
$1.50B post-money.
Did Altruist raise again after this round?
Yes: a Series F round in Apr 2025 of $152M at $1.90B post-money.