Funding round
Honor Series C
Honor, which works in home care services in Omaha, raised $50M in a Series C round announced on 22 May 2018, led by Prosus. 5 firms took part, 4 of them already investors. It is Honor's third venture round on record; the one before was a Series B in Aug 2016.
$50M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Honor did not disclose a valuation in this round; its last disclosed one was $55M at the Series A (Apr 2015). It came 21 months after Honor's Series B. It is 16% of the $322M Honor has raised in the venture rounds on record. Honor raised again 29 months later: a Series D round of $140M in Oct 2020. Its next priced round, a Series E in Oct 2021, valued it at $1.25B.
Honor's funding rounds
Honor has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 2 Apr 2015 $20M$55M post-money
- Series B 8 Aug 2016, led by Thrive Capital $42M
- Series C this round 22 May 2018, led by Prosus $50M
- Series D 27 Oct 2020, led by Baillie Gifford and T. Rowe Price Associates, Inc. $140M
- Debt not a venture round 5 Oct 2021, led by Perceptive Advisors $300M
- Series E 5 Oct 2021, led by Baillie Gifford $70M$1.25B post-money
Investors
Who put money in
Prosus led the round with 4 other firms. Andreessen Horowitz, Thrive Capital, Kapor Capital and Alumni Ventures had backed Honor before.
Lead investor
- Prosus backs 44 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
- backs 86 venture-backed companies existing investor
- Alumni Ventures 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
The closest in time: 2 in Home Health Care, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Home Health Care | 1 Sep 2018 | $54M | not disclosed | not named |
| Home Health Care | 21 Nov 2017 | $26M | not disclosed | Sabre Partners and MEMG CDC |
| UBTECH Industrial Machinery & Supplies | 3 May 2018 | $820M | $5.00B | Tencent |
| Tech Companies | 11 May 2018 | $100M | not disclosed | China Electronics Health Fund |
| Online Marketplace | 14 May 2018 | $85M | not disclosed | Rakuten Ventures and EDBI |
| Tech Companies | 9 May 2018 | $55M | not disclosed | Temasek |
| Tech Companies | 16 May 2018 | $50M | not disclosed | Riverwood Capital |
| Groceries | 15 May 2018 | $50M | not disclosed | Benchmark Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Honor raise in its Series C round?
Honor raised $50M in its Series C round, announced in May 2018.
Who led Honor's Series C round?
Prosus led it, with Andreessen Horowitz, Thrive Capital, Kapor Capital and Alumni Ventures.
What was Honor's valuation at the Series C round?
It was not disclosed; its last disclosed one was $55M at the Series A (Apr 2015).
Did Honor raise again after this round?
Yes: a Series D round in Oct 2020 of $140M.