Funding round
Rakuten Medical Series C
Rakuten Medical, which works in precision photoimmunotherapy development in San Diego, raised $100M in a Series C round announced on 31 Jul 2019. 1 firm took part, 1 of them already investors. It is Rakuten Medical's first venture round on record.
$100M
Amount raised
Not disclosed
Post-money valuation
1
Investors
no lead named
Valuation
What this round says about the price
Rakuten Medical did not disclose a valuation in this round. It is Rakuten Medical's first venture round on record, 9 years after it was founded in 2010. It is 21% of the $485M Rakuten Medical has raised in the venture rounds on record. Rakuten Medical raised again 25 months later: a Series D round of $166M in Aug 2021.
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- Rakuten, Inc. 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
16 Series C rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $22M, and this round was 4.5 times the median. The closest in time, other companies' Series C rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 19 Jul 2019 | $20M | not disclosed | Mehta Family Partners and Timur Artemev |
| Pharmaceutical Products | 1 Jun 2019 | $82M | not disclosed | EW Healthcare Partners |
| Pharmaceutical Products | 17 Oct 2019 | $7.5M | not disclosed | Happiness Capital |
| Pharmaceutical Products | 2 Dec 2019 | $71M | not disclosed | 泰格医药 and TF Capital |
| Pharmaceutical Products | 17 Dec 2019 | $45M | not disclosed | Decheng Capital |
| Pharmaceutical Products | 23 Dec 2019 | $40M | not disclosed | GISEV Family Office |
| Pharmaceutical Products | 19 Dec 2019 | $22M | not disclosed | Pontifax Venture Capital |
| Pharmaceutical Products | 10 Jan 2020 | $22M | not disclosed | Boehringer Ingelheim Venture Fund and PPF Group |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Rakuten Medical raise in its Series C round?
Rakuten Medical raised $100M in its Series C round, announced in Jul 2019.
Which investors took part in Rakuten Medical's Series C round?
Rakuten, Inc..
What was Rakuten Medical's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Pharmaceutical Products?
16 Series C rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $22M, and this round was 4.5 times the median.
Did Rakuten Medical raise again after this round?
Yes: a Series D round in Aug 2021 of $166M.