Funding round
Ritual Series B
Ritual, which works in health and wellness supplement manufacturing in United States, raised $25M in a Series B round announced on 5 Feb 2019, led by Norwest. 31 firms took part, 3 of them already investors. It is Ritual's second venture round on record; the one before was a Series A in Aug 2017.
$25M
Amount raised
Not disclosed
Post-money valuation
31
Investors
1 lead
Valuation
What this round says about the price
Ritual did not disclose a valuation in this round. It came 18 months after Ritual's Series A. It is 70% of the $36M Ritual has raised in the venture rounds on record. No later venture round is on record for Ritual.
Ritual's funding rounds
Ritual has 2 venture rounds on record. This one is highlighted.
- Series A 1 Aug 2017, led by Founders Fund $11M
- Series B this round 5 Feb 2019, led by Norwest $25M
Investors
Who put money in
Norwest led the round with 30 other firms. Norwest, Forerunner and Founders Fund had backed Ritual before.
Lead investor
- Norwest backs 215 venture-backed companies existing investor
Also in the round
- backs 99 venture-backed companies existing investor
- Founders Fund backs 368 venture-backed companies existing investor
- backs 52 venture-backed companies
- AME Cloud Ventures backs 105 venture-backed companies
- backs 26 venture-backed companies
- backs 15 venture-backed companies
- backs 38 venture-backed companies
- Caffeinated backs 79 venture-backed companies
- backs 37 venture-backed companies
- backs 54 venture-backed companies
- Felicis backs 237 venture-backed companies
- backs 43 venture-backed companies
- Khosla Ventures backs 396 venture-backed companies
- backs 19 venture-backed companies
- LAUNCHub backs 36 venture-backed companies
- backs 153 venture-backed companies
- backs 55 venture-backed companies
- backs 91 venture-backed companies
- backs 25 venture-backed companies
- Peterson Ventures
- backs 16 venture-backed companies
- backs 29 venture-backed companies
- backs 138 venture-backed companies
- Sequoia Capital backs 589 venture-backed companies
- SLVC
- backs 3 venture-backed companies
- SV Angel backs 293 venture-backed companies
- The HIT Forge
- backs 14 venture-backed companies
- Union Square Ventures backs 171 venture-backed companies
Joined the board: Lisa Wu (Norwest Venture Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Vitamins & Supplements:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vitamins & Supplements | 2 Apr 2019 | $35M | not disclosed | L Catterton |
| Vitamins & Supplements | 29 Apr 2019 | $15M | not disclosed | Sonoma Brands Capital |
| Vitamins & Supplements | 28 Aug 2018 | $5.0M | not disclosed | CircleUp Growth Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ritual raise in its Series B round?
Ritual raised $25M in its Series B round, announced in Feb 2019.
Who led Ritual's Series B round?
Norwest led it, with Forerunner, Founders Fund, Acequia Capital, AME Cloud Ventures and Amplify and 25 more.
What was Ritual's valuation at the Series B round?
It was not disclosed.