Rogo funding: Every round, investor, and valuation (2026)

Rogo sells AI software to investment banks, private equity firms, hedge funds, and other financial institutions. Its platform reads filings, market data, and a firm's own documents, then produces the work junior bankers usually do by hand: comparable company tables, financial models, pitch decks, and due diligence summaries. Its agent, Felix, takes a single request and runs the whole task, from screening deals to drafting a confidential information memorandum.

Rogo has raised about $340 million across six rounds, all of it equity. Its latest priced round, a Series D led by Kleiner Perkins in April 2026, valued the New York company at about $2 billion.

The cap table mixes top venture firms with the company's own customers. Thrive Capital, Sequoia, and Khosla Ventures sit next to J.P. Morgan, Wells Fargo, Barclays, Citi, and five other banks. Let's dive into Rogo's funding history.

Rogo raised its first institutional round in early 2024 and its Series D a little over two years later. Each round had a new lead, and the bankers it sells to moved from customers to shareholders along the way.

Rogo was founded by Gabriel Stengel, a former Lazard banker who is now CEO, and John Willett, who came from J.P. Morgan. The pitch was simple: generic chatbots did not understand how bankers work, so Rogo would build an assistant trained on financial data and workflows.

AlleyCorp, the New York venture firm founded by Kevin Ryan, led the seed in February 2024. Rogo had already raised a smaller amount before that round, and its own count put total funding at $26 million after the Series A.

Khosla Ventures led the Series A eight months later, and partner Keith Rabois joined the board. The round also brought in Mantis VC, the fund run by the Chainsmokers, and former Google CEO Eric Schmidt. At the time, Rogo worked with about 25 firms.

Thrive Capital led the Series B in April 2025. It was the first round with a bank on the cap table: J.P. Morgan Growth Equity Partners invested while J.P. Morgan was also using the product. Tiger Global joined in the same round.

Sequoia started talks on the next round in late 2025, and Bloomberg reported in October that the firm would lead the deal. Rogo announced the Series C in January 2026, with KKR co-founder Henry Kravis and Wells Fargo as new backers. The money paid for Rogo's first office outside the US, in London.

Rogo's release put its total funding at more than $165 million after the Series C. That is about $14 million more than the announced rounds add up to, which points to some earlier money the company did not itemize.

Kleiner Perkins led the Series D in April 2026, only three months after the Series C closed. Rogo said the round took its total funding past $300 million and that its software was used by more than 35,000 people at over 250 institutions.

In September 2026, five more banks invested: Barclays, BNP Paribas through its venture arm Opera Tech Ventures, Citi Ventures, MUFG Innovation Partners, and Societe Generale. Josh Easterly, co-founder of the credit firm Sixth Street, invested personally. Rogo disclosed neither the amount nor a valuation. The figure in the table comes from the Wall Street Journal.

Rogo's valuation rose almost sixfold in the 12 months after the Series B. The steepest step came in early 2026, when two rounds closed within a quarter.

Rogo has not published any of these valuations. They come from press reports and data providers: the Series B price from deal trackers, the Series C price from Bloomberg and Axios, and the Series D price from Bloomberg and the Wall Street Journal.

The Series C priced the company at a little more than twice the Series B, and the Series D at about 2.7 times the Series C. That pace fits a wider pattern in which AI companies reach unicorn status in months rather than the better part of a decade.

The price is high against sales. Rogo booked about $2 million of revenue in 2024 and more than $15 million in 2025, according to Forbes, and research firm Sacra estimated annual recurring revenue at about $53 million in August 2026. At the Series D price, Rogo was worth roughly 38 times that estimated run rate.

Legal software offers the closest comparison. Harvey sells a similar AI assistant to law firms, and Harvey's ownership structure shows the same venture names, Sequoia and Kleiner Perkins among them, backing a company valued at $11 billion. Investors are betting Rogo can do for bankers what Harvey did for lawyers.

Rogo's investors fall into three groups: venture firms that led each round, banks that are both shareholders and customers, and a long list of individual investors with ties to finance and technology.

Thrive Capital, the firm founded by Josh Kushner, led the Series B and returned in both later rounds. It was the first large growth investor to back Rogo, and its money paid for the financial reasoning models and agent work that came next.

Sequoia led the Series C, with partner Brian Halligan, the HubSpot co-founder, speaking for the firm. Rogo is one of several bets Sequoia has made on AI for finance teams, alongside Rillet's AI accounting software.

Kleiner Perkins led the Series D through partner Mamoon Hamid, who called Rogo a possible operating system for the whole industry. Hamid has a pattern of backing AI agents sold into regulated industries, as Kleiner's bet on Hippocratic AI shows.

Khosla Ventures led the Series A and has joined every round since. Keith Rabois holds the board seat that came with the deal, the only board seat Rogo has disclosed.

AlleyCorp, BoxGroup, Company Ventures, and ScOp Ventures backed the seed. BoxGroup also invested in the Series A, Series B, and Series D, and AlleyCorp returned in the Series B.

Rogo now counts nine global banks among its shareholders, institutions it says hold nearly $20 trillion in combined assets. J.P. Morgan came first, through its growth equity arm in the Series B. Wells Fargo followed in the Series C, and Truist Ventures invested at an undisclosed point.

The September 2026 round added Barclays, BNP Paribas, Citi, MUFG, and Societe Generale, which gave Rogo shareholders in London, Paris, and Tokyo as it expands abroad. Rogo has not named the ninth bank.

The arrangement works for both sides. Banks get a say in a tool their analysts may use every day and a stake in its upside. Rogo gets reference customers and a harder sell for rivals, since a bank is unlikely to drop a vendor it partly owns. Several of these banks are also building AI tools in house, so the same institutions are customers, owners, and potential competitors.

The individual investors read like a list of finance and tech insiders. Henry Kravis invested in the Series C. Jack Altman invested through his fund, Alt Capital, while Eric Schmidt and Qasar Younis, the CEO of Applied Intuition, came in at the Series A.

Patrick O'Shaughnessy's Positive Sum joined in the Series B and the Series D. Tiger Global took part in the Series B and Series C, and Evantic entered at the Series D.

Rogo spends its funding on four things: engineers and the models they build on, financial data, acquisitions, and people on the ground in new markets. Each round announcement has named at least one of these as the priority.

Rogo does not train frontier models from scratch. It fine-tunes and routes between models from OpenAI, Anthropic, and Google, and calls itself model-agnostic, so it can switch to whichever model performs best on a task. In July 2026 it added Claude Opus 5 to the platform.

That choice keeps Rogo's computing bill far below that of the labs it buys from, which raise tens of billions to train their models, as OpenAI's funding history shows. Most of Rogo's technical spending goes to engineers. The Series B paid for financial reasoning models and agents, and the team hired researchers who previously worked on Google Gemini, along with former Citadel quants and Blackstone investors. In July 2026, Rogo hired Joe Xavier as chief technology officer.

Bankers will not trust an answer without the source data behind it, so Rogo pays to connect its agents to the databases they already use. Its partners include S&P Capital IQ, FactSet, PitchBook, and LSEG for company and market data, plus Dow Jones Newswires, Preqin, Octus, and Datasite, all added in 2026.

Licensing that data is a large part of the cost base. It also makes the product harder to copy, because a new rival would have to sign the same contracts before its answers matched Rogo's.

Rogo has bought four small companies in about a year, all for undisclosed sums. Subset, acquired in September 2025, built a spreadsheet agent that can build and update financial models. Offset, bought in March 2026, makes agents that keep Excel models current.

The two 2026 deals widened the product beyond analysis. Rivanna, acquired in August, works on due diligence. Arvo, acquired in September, is an AI meeting assistant for financial institutions.

The Series C opened the London office, which Willett runs. The Series D paid for more forward-deployed engineers and bankers, staff who sit with clients and help them put the product to work. Rogo had about 100 employees in April 2026, according to Forbes.

The September bank round is aimed at Europe and Asia. Rogo says it will grow its teams in both regions to hundreds of employees in the coming months.

Rogo's growth push is moving beyond investment banks. It started with advisory bankers, added private equity, hedge funds, and corporate finance teams, and is now testing tools for wealth managers, such as portfolio reviews and client analysis. Its users grew from more than 25,000 in January 2026 to more than 50,000 at over 350 firms by September, and new bank shareholders in Europe and Japan give it a path into those markets.

The product is shifting from answering questions to finishing jobs. Felix runs multi-step tasks on its own, Rogo Deal Room launched in August 2026 to manage transactions, and the acquisitions add spreadsheet, diligence, and meeting tools. Stengel has described the long-term goal as a Bloomberg terminal for private markets, covering deal sourcing, coordination, and diligence in one place.

Rogo has no public IPO plans. The main risk comes from its own suppliers: Anthropic launched finance agents of its own in May 2026, including a pitch builder and a model builder, as part of Anthropic's push into enterprise customers. Microsoft, FactSet, and Bloomberg are adding AI to tools bankers already pay for, and Hebbia competes for the same seats. The latest round pays for the expansion and the forward-deployed staff Rogo is betting will keep clients from switching.

Rogo has raised about $340 million across six rounds, from a $7 million seed in February 2024 to a strategic round from five banks in September 2026 reported at about $30 million. The largest was a $160 million Series D in April 2026. The company has not reported any debt.

Rogo's lead investors are Kleiner Perkins, Sequoia, Thrive Capital, Khosla Ventures, and AlleyCorp. Other backers include J.P. Morgan Growth Equity Partners, Tiger Global, BoxGroup, Positive Sum, Mantis VC, and Evantic, along with banks including Wells Fargo, Barclays, BNP Paribas, Citi, MUFG, Societe Generale, and Truist. Individual investors include Henry Kravis, Eric Schmidt, Jack Altman, and Josh Easterly.

Rogo was valued at about $2 billion in its April 2026 Series D, according to Bloomberg. That is up from $750 million at the January 2026 Series C and $350 million at the April 2025 Series B. The company has not disclosed a valuation for its September 2026 strategic round.

No. Rogo is private and has not filed for an IPO. Its shares are not traded on any stock exchange.

Rogo is owned by its founders, employees, and investors. Co-founder Gabriel Stengel is CEO. The largest outside holders are likely the venture firms that led its rounds, including Thrive Capital, Sequoia, Kleiner Perkins, and Khosla Ventures, alongside nine global banks, though exact stakes are not public.