On The Horizon: Somatus Authorizes a Series F Round

The Prime Unicorn Index benchmark, the standard bearer for private markets benchmarking, tracks post-money valuations for U.S-based, VC-backed private companies. Reflecting the broader private market, the Index is down 6.72% year to date. 

On June 29, Somatus, a component of the Prime Unicorn Index, authorized a Series F preferred round at $1,106.27 per share. Somatus is a provider of specialized kidney care designed to mitigate and possibly prevent the advancement of chronic kidney disease to ESRD. The company’s approach not only slows down the progression of the disease but also promotes the use of home-based dialysis for those with end-stage renal disease. This allows more patients to benefit from home dialysis treatments that enhance their health outcomes and expands the pool of patients who meet the criteria for and undergo kidney transplantation. 

Although we have previously covered the authorization of the Series F shares, it is worth revisiting, as Somatus has yet to announce a new raise. Yesterday, we covered Neuralink’s Series D round, the data from which was made available to Prime Unicorn Index subscribers four days before the public announcement. Similarly, Somatus has yet to announce its round, but our subscribers have had access to this data for over a month.

The Series F round would be the sixth raise by Somatus. The company raised $5M in a Series A round on April 20, 2017, at $23.24 a share, $11M in a Series B round on March 20, 2018, at $36.57 a share, $64M in a Series C round on May 27, 2020, at $103.71 a share,  $60.12M in a Series D round on June 1, 2021, at $204.22 a share, and $341.69M in a Series E round on February 28, 2022, at $872.63 per share. Somatus’s Series E round was led by Wellington, with participation from Fidelity, Inova Health System, and others which valued the company at $2.5 billion on a post-money valuation basis. 

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