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- Forward
Forward Valuation, Funding & Investors
Forward is valued at $1B as of March 2021.
Last Forward valuation
$1B
Series D · Mar 2021
Last Forward funding round
$100M
Series E · Nov 2023
Cumulative funding Forward raised
$325M
across 2 funding rounds
Key investors in Forward
Khosla Ventures
Founders Fund
SoftBank Group
Tencent
Samsung NEXT
Employee Stock Option Fund
About Forward
Forward is a San Francisco-headquartered healthcare provider founded in 2016 by Adrian Aoun and former Google and Uber leaders. It deploys sensors, mobile apps, and AI for proactive health monitoring in membership-based clinics. Backed by First Round Capital, Eric Schmidt, Marc Benioff, Joe Lonsdale, Joshua Kushner, and Garrett Camp, the company operates facilities in California and beyond, emphasizing preventive care over traditional visits.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$1B (Mar 2021)
Forward Valuation
Forward is currently valued at $1B, based on its Series D in March 2021.
The $225M round was led by Founders Fund and SoftBank Group, with participation from Abel Makkonen Tesfaye, Khosla Ventures, Tamar Capital and Marc Benioff.
Forward valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series D | $1B |
Forward Funding History
Forward has raised a total of $325M across 2 funding rounds.
Forward's first fundraising round was a $225M Series D in March 2021. The most recent completed round was a $100M Series E in November 2023.
Forward funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2023 | Series E | Demis Hassabis; Samsung NEXT; John Doerr; Mustafa Suleyman; Abu Dhabi Investment Authority; Tencent; Khosla Ventures; Garrett Camp; Founders Fund; Employee Stock Option Fund; John Giannandrea | $100M | - | - |
| Mar 2021 | Series D | Founders Fund (lead); SoftBank Group (lead); Abel Makkonen Tesfaye; Khosla Ventures; Tamar Capital; Marc Benioff | $225M | $1B | Forward is a San Francisco-based HealthTech company founded in 2016 that offers a preventive primary care platform leveraging sensors, mobile technology, and AI to redesign healthcare delivery. The company operates on a cash-pay direct primary care model without insurance and had expanded to multiple cities by 2021, employing over 300 people. In November 2021, Forward raised $225 million in a Series E funding round at a $1 billion post-money valuation, led by SoftBank Vision Fund and Founders Fund, with participation from investors including Khosla Ventures, Marc Benioff, and Abel Makkonen Tesfaye (The Weeknd). Funds were intended to accelerate product development, expand the team, scale operations globally, and support nationwide growth. Forward had raised a total of around $657 million across rounds by later years. The company later launched AI-powered CarePods in 2023 with additional $100 million funding but faced challenges, including layoffs in 2022 and eventual shutdown in 2024, affecting nearly 200 employees. |
Who has invested in Forward?
15 investors have backed Forward across its funding rounds, including Khosla Ventures, Founders Fund, SoftBank Group, Tencent, Samsung NEXT and Employee Stock Option Fund.
Lead investors include Founders Fund and SoftBank Group.
Forward Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Mar 2021 | ||
| 2 | Lead | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Nov 2023 | ||
This data is available for Pro users. Sign up to see all 15 Forward investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialForward Competitors
Forward competitors include listed companies like Nyxoah and Kooth, and private ones like Midi Health, SheMed, Hims & Hers and Calibrate.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $150M | - | $1B | 6.7x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | $21M | - | $1.3B | 61.9x | ||
| Publicly listed | $12M | ($97M) | $162M | 3.2x | ||
| Publicly listed | $85M | $13M | $90M | 0.7x |
Forward Public Comps
Forward is still privately-owned, but its public comps include Helus Pharma, HTC, Yunding Technology, Talkspace, Teladoc, GoodRx, Sphere, Catapult, JMDC and Guiyang Longmaster.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($153M) | - | - | (5.4x) | (4.8x) | |||
| $91M | $22M | 6.8x | 6.9x | 27.7x | (6.2x) | |||
| $228M | $22M | 3.6x | - | 37.9x | - | |||
| $229M | $6M | 3.4x | 3.4x | 129.3x | 49.4x | |||
| $2.5B | $124M | 0.6x | 0.6x | 11.3x | 5.0x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $70M | $6M | 14.3x | 6.9x | 156.3x | 103.0x | |||
| $141M | $15M | 4.3x | 4.0x | 40.8x | 20.6x | |||
This data is available for Pro users. Sign up to see all Forward competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Forward
| When was Forward founded? | Forward was founded in 2016. |
| Where is Forward headquartered? | Forward is headquartered in San Francisco, CA, United States. |
| Is Forward publicly listed? | No, Forward is a private, VC-backed company. |
| What is Forward's valuation? | Forward was last valued at $1B in its Series D in March 2021. |
| How much funding has Forward raised? | Forward has raised $325M across 2 funding rounds. |
| What was Forward's last funding round? | Forward's last funding round was a $100M Series E in November 2023. |
| Who are Forward's investors? | Forward's investors include Khosla Ventures, Founders Fund, Abel Makkonen Tesfaye, Demis Hassabis, Samsung NEXT, SoftBank Group, John Doerr, Mustafa Suleyman, Abu Dhabi Investment Authority, Tencent and 5 others. |
| Which companies are comparable to Forward? | Companies comparable to Forward include Midi Health, SheMed, Hims & Hers, Calibrate, Nyxoah and Kooth. |
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