Funding round
Ro Growth
Reported as "Growth Equity"
Ro, which works in telehealth services in New York, raised $150M in a Growth round announced on 15 Feb 2022, led by ShawSpring Partners, at a $7.00B post-money valuation. 11 firms took part, 11 of them already investors. It is Ro's sixth venture round on record; the one before was a Series D in Mar 2021.
$150M
Amount raised
$7.00B
Post-money valuation
$5.00B pre-money
11
Investors
1 lead
1.4x
Step-up from the Series D
$5.00B in Mar 2021
2.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ro at $7.00B after the new money, 1.4 times the $5.00B of its Series D (Mar 2021). The $150M bought investors about 2.1% of the company. It came 11 months after Ro's Series D. It is 15% of the $1.03B Ro has raised in the venture rounds on record. No later venture round is on record for Ro.
Ro's funding rounds
Ro has 6 venture rounds on record. This one is highlighted.
- Seed 3 Aug 2017 $3.0M
- Series A 19 Sep 2018, led by FirstMark $88M
- Series B 16 Apr 2019, led by FirstMark $85M$500M post-money
- Series C 27 Jul 2020, led by General Catalyst $200M$1.50B post-money
- Series D 23 Mar 2021, led by General Catalyst, FirstMark and TQ Ventures $500M$5.00B post-money
- Growth this round 15 Feb 2022, led by ShawSpring Partners $150M$7.00B post-money
Investors
Who put money in
ShawSpring Partners led the round with 10 other firms. ShawSpring Partners, General Catalyst, FirstMark and TQ Ventures and 7 more had backed Ro before.
Lead investor
- existing investor
Also in the round
- General Catalyst backs 574 venture-backed companies existing investor
- FirstMark backs 128 venture-backed companies existing investor
- backs 71 venture-backed companies existing investor
- backs 121 venture-backed companies existing investor
- BoxGroup backs 175 venture-backed companies existing investor
- The Chernin Group existing investor
- backs 115 venture-backed companies existing investor
- Altimeter backs 67 venture-backed companies existing investor
- backs 3 venture-backed companies existing investor
- Seven Seven Six backs 90 venture-backed companies existing investor
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' Growth rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 19 Jan 2022 | undisclosed | not disclosed | LKCM Headwater Investments |
| Health Care Services | 20 Dec 2021 | undisclosed | not disclosed | not named |
| Health Care Services | 2 Nov 2021 | $50M | not disclosed | Oak HC/FT |
| Health Care Services | 21 Jul 2022 | $160M | not disclosed | not named |
| Health Care Services | 24 Aug 2021 | $20M | not disclosed | Heritage Group |
| Carbon Health Health Care Services | 21 Jul 2021 | $350M | $3.30B | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Ro raise in its Growth round?
Ro raised $150M in its Growth round, announced in Feb 2022.
Who led Ro's Growth round?
ShawSpring Partners led it, with General Catalyst, FirstMark, TQ Ventures, SignalFire and BoxGroup and 5 more.
What was Ro's valuation at the Growth round?
$7.00B post-money ($5.00B pre-money).