Funding round
Ro Series A
Ro, which works in telehealth services in New York, raised $88M in a Series A round announced on 19 Sep 2018, led by FirstMark. 9 firms took part. It is Ro's second venture round on record; the one before was a Seed in Aug 2017.
$88M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Ro did not disclose a valuation in this round. It came 13 months after Ro's Seed. It is 8.6% of the $1.03B Ro has raised in the venture rounds on record. Ro raised again 7 months later: a Series B round of $85M in Apr 2019, at $500M post-money.
Ro's funding rounds
Ro has 6 venture rounds on record. This one is highlighted.
- Seed 3 Aug 2017 $3.0M
- Series A this round 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 15 Feb 2022, led by ShawSpring Partners $150M$7.00B post-money
Investors
Who put money in
FirstMark led the round with 8 other firms.
Lead investor
- FirstMark backs 128 venture-backed companies new investor
Also in the round
- backs 121 venture-backed companies new investor
- backs 115 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- backs 133 venture-backed companies new investor
- Sinai Ventures new investor
- backs 34 venture-backed companies new investor
- BoxGroup backs 175 venture-backed companies new investor
- backs 38 venture-backed companies new investor
Joined the board: Rick Heitzmann (FirstMark Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations, working capital, hiring, product development and sales and marketing.
- Scaling operations
- Working capital
- Hiring
- Product development
- Sales and marketing
Comparable rounds
How it compares
26 Series A rounds in Health Care Services within a year either side disclosed an amount; the median was $8.5M, and this round was 10 times the median. The closest in time, other companies' Series A rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 16 Oct 2018 | $15M | not disclosed | Maveron and Northzone |
| Health Care Services | 28 Aug 2018 | $5.0M | not disclosed | Nexus Venture Partners and Omidyar Network |
| Health Care Services | 17 Jul 2018 | $13M | not disclosed | not named |
| Health Care Services | 2 Jul 2018 | $4.1M | not disclosed | Kamet Capital Partners |
| Health Care Services | 31 Jul 2018 | $2.0M | not disclosed | Hunch Ventures |
| Health Care Services | 12 Jun 2018 | $22M | not disclosed | not named |
| Health Care Services | 17 Dec 2018 | $10M | not disclosed | not named |
| Health Care Services | 1 Dec 2018 | $9.0M | not disclosed | Flare Capital Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ro raise in its Series A round?
Ro raised $88M in its Series A round, announced in Sep 2018.
Who led Ro's Series A round?
FirstMark led it, with SignalFire, Initialized, General Catalyst, Slow Ventures and Sinai Ventures and 3 more.
What was Ro's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Health Care Services?
26 Series A rounds in Health Care Services within a year either side disclosed an amount; the median was $8.5M, and this round was 10 times the median.
Did Ro raise again after this round?
Yes: a Series B round in Apr 2019 of $85M at $500M post-money.