Funding round
Biofourmis Series D
Biofourmis, which works in connected healthcare platform development in Boston, raised $300M in a Series D round announced on 26 Apr 2022, led by General Atlantic, at a $1.30B post-money valuation. 7 firms took part, 6 of them already investors. It is Biofourmis' third venture round on record; the one before was a Series C in Sep 2020.
$300M
Amount raised
$1.30B
Post-money valuation
$1.00B pre-money
7
Investors
1 lead
23%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Biofourmis at $1.30B after the new money. The $300M bought investors about 23% of the company. It came 19 months after Biofourmis' Series C. It is 69% of the $435M Biofourmis has raised in the venture rounds on record. No later venture round is on record for Biofourmis.
Investors
Who put money in
General Atlantic led the round with 6 other firms. General Atlantic, SoftBank Vision Fund, Openspace Capital and MassMutual Ventures and 2 more had backed Biofourmis before.
Lead investor
- General Atlantic backs 134 venture-backed companies existing investor
Also in the round
- CVS Health new investor
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
- backs 28 venture-backed companies 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
Joined the board: Dr. Omar Ishrak (Intel).
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, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
203 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| OneStudyTeam Tech Companies | 21 Apr 2022 | $220M | $4.80B | Altimeter and Coatue |
| Harness Tech Companies | 26 Apr 2022 | $175M | $3.70B | Norwest |
| Tech Companies | 5 Apr 2022 | $150M | $1.40B | SoftBank Vision Fund |
| Filevine Tech Companies | 14 Apr 2022 | $108M | not disclosed | StepStone Group |
| Tech Companies | 13 Apr 2022 | $100M | $2.60B | Goldman Sachs |
| Tech Companies | 7 Apr 2022 | $100M | $1.20B | Tiger Global and Insight Partners |
| Tech Companies | 28 Apr 2022 | $55M | $1.30B | Silver Lake Waterman |
| Tech Companies | 11 Apr 2022 | $16M | not disclosed | Legend Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Biofourmis raise in its Series D round?
Biofourmis raised $300M in its Series D round, announced in Apr 2022.
Who led Biofourmis' Series D round?
General Atlantic led it, with CVS Health, SoftBank Vision Fund, Openspace Capital, MassMutual Ventures and Sequoia Capital and 1 more.
What was Biofourmis' valuation at the Series D round?
$1.30B post-money ($1.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
203 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.0 times the median.