Funding round
Biofourmis Series C
Biofourmis, which works in connected healthcare platform development in Boston, raised $100M in a Series C round announced on 3 Sep 2020, led by SoftBank Vision Fund. 5 firms took part, 4 of them already investors. It is Biofourmis' second venture round on record; the one before was a Series B in May 2019.
$100M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Biofourmis did not disclose a valuation in this round. It came 16 months after Biofourmis' Series B. It is 23% of the $435M Biofourmis has raised in the venture rounds on record. Biofourmis raised again 19 months later: a Series D round of $300M in Apr 2022, at $1.30B post-money.
Investors
Who put money in
SoftBank Vision Fund led the round with 4 other firms. Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI had backed Biofourmis before.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Openspace Ventures existing investor
- backs 79 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- EDBI backs 67 venture-backed companies existing 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
389 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Zwift Tech Companies | 16 Sep 2020 | $450M | $1.00B | KKR |
| Tech Companies | 21 Sep 2020 | $90M | not disclosed | SIG and RTP Global |
| ApplyBoard Tech Companies | 16 Sep 2020 | $55M | $1.40B | not named |
| Tech Companies | 30 Sep 2020 | $50M | not disclosed | LEGO Ventures and Sesame Workshop |
| Tech Companies | 14 Sep 2020 | $40M | not disclosed | Insight Partners |
| Tech Companies | 23 Sep 2020 | $23M | not disclosed | Iron Pillar |
| Tech Companies | 15 Sep 2020 | $12M | not disclosed | Allegis Capital and Signal Peak Ventures |
| Tech Companies | 6 Oct 2020 | $207M | $2.00B | BlackRock |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Biofourmis raise in its Series C round?
Biofourmis raised $100M in its Series C round, announced in Sep 2020.
Who led Biofourmis' Series C round?
SoftBank Vision Fund led it, with Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.
What was Biofourmis' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
389 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 2.0 times the median.
Did Biofourmis raise again after this round?
Yes: a Series D round in Apr 2022 of $300M at $1.30B post-money.