Steep re-rating since 2023 ($4.2B to $7.6B confirmed primary in ~3 years) as US healthcare and retail drone-delivery contracts (Walmart, hospital systems) scale toward commercial proof points; Series H raised in two tranches within ~2 months, suggesting strong investor demand. The previously flagged $11.191B figure for the March 2026 tranche does not hold up -- it traces to secondary-market composite prices dated months later, not the round itself; corrected above. CFO Deepak Ahuja (ex-Tesla/Verily, widely read as an 'IPO readiness' hire) left Zipline for Redwood Materials in May 2026. No S-1 filed; Forge Global's own IPO tracker states the IPO date is 'currently unknown.'
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series A | 2015-07-01 | $75M | Sequoia Capital (partner Alfred Lin) -- medium confidence, consistent across secondary sources but no primary 2015 article recovered |
| Series B | 2016-11-01 | $200M+167% | Visionnaire Ventures (also Sequoia Capital, Andreessen Horowitz, Subtraction Capital, Jerry Yang) |
| Series D | 2019-03-01 | $1.2B+500% | Baillie Gifford and The Rise Fund (new investor) |
| Series F | 2023-04-01 | $4.2B+250% | Baillie Gifford and Temasek (also Katalyst Ventures, Intercorp, Sequoia, a16z) |
| Series G | 2024-06-01 | $5.0B+19% | Undisclosed -- no tier-1 outlet covered this June 2024 round directly; only low-quality aggregators mention Scottish Mortgage Investment Trust as a participant, with no lead identified anywhere |
| Series H | 2026-01-20 | $7.6B+52% | Valor Equity Partners (also Fidelity Management & Research, Baillie Gifford, Tiger Global) |
No upcoming rounds currently reported.
| Status | S-1 Not Filed |
|---|---|
| Notes | Forge Global's own IPO tracker states the date is 'currently unknown.' CFO Deepak Ahuja, previously read as an 'IPO readiness' hire, left for Redwood Materials in May 2026. |
| Source | CNBC/Electrek, May 2026 (Ahuja departure); Forge Global IPO tracker |
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.