15x valuation jump in 18 months, largely pre-revenue. Secondary-market prints in 2026 (Forge Global ~$174, Nasdaq Private Market ~$162.71) imply a valuation below the $39B Series C mark, suggesting softening demand ahead of any new primary round. BMW's Feb 2026 pilot with a competitor (Hexagon's AEON) is at a separate European plant (Leipzig) alongside, not a replacement of, Figure's original deployment at BMW Spartanburg, which by early 2026 had logged ~11 months and 30,000+ vehicles.
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series B | 2024-02-01 | $2.6B | No single lead designated -- Figure's own release describes a syndicate: Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos/Bezos Expeditions, Parkway Venture Capital, Intel Capital, Align Ventures, ARK Invest |
| Series C | 2025-09-17 | $39.0B+1400% | Parkway Venture Capital |
No upcoming rounds currently reported.
| Status | S-1 Not Filed |
|---|---|
| Timing | 2027-2028 (speculative, not tier-1-confirmed) |
| Notes | CEO Brett Adcock is reported (via secondary/aggregator commentary, not a verified direct quote) to be prioritizing revenue growth before any listing. |
| Source | Forge Global / TechMarketBriefs commentary, 2026 (aggregator-sourced, not tier-1 confirmed) |
These are cited news signals only, not a PrePost prediction — year/valuation forecasting is on the roadmap but not live yet.
Transparent, formula-based composite (not machine-learned) of five signals: raise velocity, round acceleration, secondary premium/discount vs. the last primary round, up-round streak, and freshness of the last known mark.