Funding round
Cityblock Health Series C
Cityblock Health, which works in primary care services in New York, raised $160M in a Series C round announced on 10 Dec 2020, led by General Catalyst, at a $1.00B post-money valuation. 10 firms took part, 5 of them already investors. It is Cityblock Health's third venture round on record; the one before was a Series B in Apr 2019.
$160M
Amount raised
$1.00B
Post-money valuation
$840M pre-money
10
Investors
1 lead
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cityblock Health at $1.00B after the new money. The $160M bought investors about 16% of the company. It came 20 months after Cityblock Health's Series B. It is 21% of the $762M Cityblock Health has raised in the venture rounds on record. Cityblock Health raised again 8 months later: a Series D round of $400M in Aug 2021, at $5.70B post-money.
Cityblock Health's funding rounds
Cityblock Health has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
General Catalyst led the round with 9 other firms. General Catalyst, Kinnevik, Maverick Ventures and Thrive Capital and 1 more had backed Cityblock Health before.
Lead investor
- General Catalyst backs 574 venture-backed companies existing investor
Also in the round
- Wellington Management new investor
- Kinnevik backs 55 venture-backed companies existing investor
- Maverick Ventures existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
- Redpoint Ventures backs 194 venture-backed companies existing investor
- 8VC new investor
- backs 25 venture-backed companies new investor
- EmblemHealth new investor
- Goldman Sachs AIMS Impact new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
19 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $60M, and this round was 2.7 times the median. The closest in time, other companies' Series C rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Carbon Health Health Care Services | 10 Nov 2020 | $100M | not disclosed | Dragoneer Investment Group |
| Health Care Services | 10 Nov 2020 | $38M | $200M | The Cigna Group Ventures and Humana |
| Health Care Services | 12 Nov 2020 | undisclosed | not disclosed | not named |
| Health Care Services | 18 Feb 2021 | $60M | not disclosed | Insight Partners |
| Health Care Services | 8 Oct 2020 | $55M | not disclosed | King River |
| Health Care Services | 23 Feb 2021 | $50M | $396M | not named |
| Health Care Services | 30 Mar 2021 | $100M | $1.10B | Khosla Ventures |
| Health Care Services | 30 Mar 2021 | $40M | not disclosed | Transformation Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Cityblock Health raise in its Series C round?
Cityblock Health raised $160M in its Series C round, announced in Dec 2020.
Who led Cityblock Health's Series C round?
General Catalyst led it, with Wellington Management, Kinnevik, Maverick Ventures, Thrive Capital and Redpoint Ventures and 4 more.
What was Cityblock Health's valuation at the Series C round?
$1.00B post-money ($840M pre-money).
How does it compare with other Series C rounds in Health Care Services?
19 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $60M, and this round was 2.7 times the median.
Did Cityblock Health raise again after this round?
Yes: a Series D round in Aug 2021 of $400M at $5.70B post-money.