Funding round
Somatus Series C
Somatus, which works in value-based kidney care management in McLean, raised $64M in a Series C round announced on 23 Jun 2020, led by Longitude Capital, Optum Ventures and Deerfield. 6 firms took part, with 1 individual investor. It is Somatus' second venture round on record; the one before was a Series B in Apr 2018.
$64M
Amount raised
Not disclosed
Post-money valuation
6
Investors
3 leads
Valuation
What this round says about the price
Somatus did not disclose a valuation in this round. It came 26 months after Somatus' Series B. It is 14% of the $460M Somatus has raised in the venture rounds on record. Somatus raised again 12 months later: a Series D round of $60M in Jun 2021. Its next priced round, a Series E in Feb 2022, valued it at $2.50B.
Somatus' funding rounds
Somatus has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Longitude Capital, Optum Ventures and Deerfield led the round with 3 other firms.
Lead investors
- backs 24 venture-backed companies new investor
- backs 46 venture-backed companies new investor
- backs 59 venture-backed companies new investor
Also in the round
- backs 27 venture-backed companies new investor
- backs 48 venture-backed companies new investor
- backs 25 venture-backed companies new investor
Individual investors: Dan Gebremedhin.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series C rounds in Home Health Care:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| DispatchHealth Home Health Care | 23 Jun 2020 | $136M | not disclosed | Optum Ventures |
| Home Health Care | 10 Feb 2020 | $30M | not disclosed | not named |
| Home Health Care | 13 Apr 2021 | $60M | not disclosed | Tiger Global Management |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Somatus raise in its Series C round?
Somatus raised $64M in its Series C round, announced in Jun 2020.
Who led Somatus' Series C round?
Longitude Capital, Optum Ventures and Deerfield led it, with Blue Venture Fund, Flare Capital Partners and Town Hall Ventures.
What was Somatus' valuation at the Series C round?
It was not disclosed.
Did Somatus raise again after this round?
Yes: a Series D round in Jun 2021 of $60M.