Cityblock Health Authorizes Series X Stock at a Steep Discount

On June 18, 2024, Cityblock Health, Inc. authorized a new Series X stock, priced significantly lower than its previous Series D stock. 

Cityblock Health is a tech-driven healthcare provider that delivers comprehensive, personalized care to underserved urban populations. Founded in 2017 as a spinoff of Alphabet’s Sidewalk Labs, Cityblock leverages data and technology to address the social determinants of health, integrating primary care, behavioral health, and social services to improve outcomes and reduce costs.

Since its inception, Cityblock Health has raised over $850 million in funding. The latest round was a $375 million Series D extension in September 2021, which valued the company at roughly $6 billion. Key investors include Tiger Global, Redpoint Ventures, Softbank, Thrive Capital, 8VC, Goldman Sachs, Wellington, General Catalyst, and others.

The recent Series X round was priced at $19.91 per share, or about 75% lower than its Series D price of $78.86. This would give Cityblock a new pre-money valuation of just over $1.5 billion. 

**Update: After confirming with the company, the Series X stock is tied to a secondary offering to existing investors.**