Funding round
Carbon Health Growth
Reported as "Growth Equity"
Carbon Health, which works in primary and urgent care services in San Francisco, raised $350M in a Growth round announced on 21 Jul 2021, at a $3.30B post-money valuation. 9 firms took part. It is Carbon Health's third venture round on record; the one before was a Series C in Nov 2020.
$350M
Amount raised
$3.30B
Post-money valuation
9
Investors
no lead named
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Carbon Health at $3.30B after the new money. The $350M bought investors about 11% of the company. It came 8 months after Carbon Health's Series C. It is 60% of the $580M Carbon Health has raised in the venture rounds on record. Carbon Health raised again 18 months later: a Series D round of $100M in Jan 2023.
Carbon Health's funding rounds
Carbon Health has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
9 firms took part; no lead investor was named.
Investors
- Atreides Management backs 53 venture-backed companies new investor
- backs 82 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- Intersect Capital new investor
- Fifth Wall backs 103 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
- Silver Lake Waterman new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Brookfield Technology Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Growth rounds in Health Care Services within a year either side disclosed an amount; the median was $128M, and this round was 2.7 times the median. The closest in time, other companies' Growth rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 24 Aug 2021 | $20M | not disclosed | Heritage Group |
| Health Care Services | 2 Nov 2021 | $50M | not disclosed | Oak HC/FT |
| Health Care Services | 20 Dec 2021 | undisclosed | not disclosed | not named |
| Health Care Services | 7 Jan 2021 | $105M | not disclosed | Kinderhook Industries |
| Health Care Services | 19 Jan 2022 | undisclosed | not disclosed | LKCM Headwater Investments |
| Ro Health Care Services | 15 Feb 2022 | $150M | $7.00B | ShawSpring Partners |
| Health Care Services | 26 Nov 2020 | $160M | $1.35B | not named |
| Health Care Services | 20 Nov 2020 | undisclosed | not disclosed | Warburg Pincus |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Carbon Health raise in its Growth round?
Carbon Health raised $350M in its Growth round, announced in Jul 2021.
Which investors took part in Carbon Health's Growth round?
Atreides Management, Homebrew, Hudson Bay Capital, Intersect Capital, Fifth Wall and Lux Capital and 3 more.
What was Carbon Health's valuation at the Growth round?
$3.30B post-money.
How does it compare with other Growth rounds in Health Care Services?
8 Growth rounds in Health Care Services within a year either side disclosed an amount; the median was $128M, and this round was 2.7 times the median.
Did Carbon Health raise again after this round?
Yes: a Series D round in Jan 2023 of $100M.