Funding round
Ritual Series A
Ritual, which works in health and wellness supplement manufacturing in United States, raised $11M in a Series A round announced on 1 Aug 2017, led by Founders Fund. 4 firms took part. It is Ritual's first venture round on record.
$11M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Ritual did not disclose a valuation in this round. It is Ritual's first venture round on record, 1 year after it was founded in 2016. It is 30% of the $36M Ritual has raised in the venture rounds on record. Ritual raised again 18 months later: a Series B round of $25M in Feb 2019.
Ritual's funding rounds
Ritual has 2 venture rounds on record. This one is highlighted.
- Series A this round 1 Aug 2017, led by Founders Fund $11M
- Series B 5 Feb 2019, led by Norwest $25M
Investors
Who put money in
Founders Fund led the round with 3 other firms.
Lead investor
- Founders Fund backs 368 venture-backed companies new investor
Also in the round
- backs 99 venture-backed companies new investor
- Norwest backs 215 venture-backed companies new investor
- backs 88 venture-backed companies new investor
Joined the board: Brian Singerman (Founders Fund).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series A rounds in Vitamins & Supplements:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vitamins & Supplements | 1 Oct 2017 | $431K | not disclosed | not named |
| Vitamins & Supplements | 13 Nov 2017 | $5.0M | not disclosed | Strand Equity Partners |
| Vitamins & Supplements | 9 May 2017 | undisclosed | not disclosed | Unilever Ventures |
| Vitamins & Supplements | 2 Apr 2018 | $8.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Ritual raise in its Series A round?
Ritual raised $11M in its Series A round, announced in Aug 2017.
Who led Ritual's Series A round?
Founders Fund led it, with Forerunner, Norwest and Upfront Ventures.
What was Ritual's valuation at the Series A round?
It was not disclosed.
Did Ritual raise again after this round?
Yes: a Series B round in Feb 2019 of $25M.