Companies · AI / ML

C3.ai, Inc.

REDWOOD CITY · AI / ML · refined from filed group “Other Technology

Diligence memoA one-page analyst read on C3.ai, Inc. — recommendation, valuation, rhythm, risks.
$400.9M
Total raised · real
7
Rounds
0.7×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Aug 15 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

C3.ai, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the ai/ml sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.37× the median modeled value of Series D+ AI / ML companies in 2019–2021 (8 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.9 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in AI / ML

C3.ai, Inc. is one of 2067 AI / ML companies tracked from REDWOOD CITY. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

ai/ml

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
7
Investors (latest)
2019-08-15
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$1.3B$2.5B$3.8B$5.0BSeries A · 2013-05-15 Raised $15M (real) Modeled valuation $542M (est)Series A2013Series C · 2016-08-29 Raised $97M (real) Modeled valuation $4.0B (est)Series C2016Series C · 2017-03-02 Raised $12M (real) Modeled valuation $483M (est)Series C2017Series D+ · 2018-01-16 Raised $106M (real) Modeled valuation $4.4B (est)Series D+2018Series D+ · 2019-02-27 Raised $52M (real) Modeled valuation $2.1B (est)Series D+2019Series D+ · 2019-06-06 Raised $69M (real) Modeled valuation $2.9B (est)Series D+2019Series D+ · 2019-08-15 Raised $50M (real) Modeled valuation $2.1B (est)Series D+2019+$97M+$12M+$106M+$52M+$69M+$50MCumulative $401M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$15.0M · 2013
Series C$97.0M · 2016no Series B on file
Series C extension$11.8M · 2017
Series D+$105.9M · 2018
Series D+ extension$51.8M · 2019
Series D+ extension$69.5M · 2019
Series D+ extension$50.0M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$2.1B
Base estimate est.
$277.7M
Conservative case
$4.5B
Upside case
$416.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the ai/ml sector profile. Directional, not a quoted figure.

Series A · modeled $542.0M · 2013-05-152013Series C · modeled $4.0B · 2016-08-29Series C · modeled $483.2M · 2017-03-02Series D+ · modeled $4.4B · 2018-01-16Series D+ · modeled $2.1B · 2019-02-27Series D+ · modeled $2.9B · 2019-06-06Series D+ · modeled $2.1B · 2019-08-152019
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.35×/yr
Annual markup
1.51×/yr upside case
6.0 yr
Elapsed time used
6.9 yr actual, capped for stale marks
ai/ml
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$64.1M/yr
Capital velocity
13.1 yr
On record since
2013
First round
7
Rounds on file
How it compares to the market

Benchmarked against 2067 companies in AI / ML. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 85× above median
This company$400.9M
Sector median$4.7M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.3× of median
This company$50.0M
Sector median$174.5M
Modeled value — vs sector median (estimate, all stages) 74× above median
This company$2.1B
Sector median$27.9M

Raised more than 99% of sector peers (real $). Modeled value above 98% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #7 of 8.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)GrubMarket, Inc. · Series D+ Raised $279.1M · modeled $7.5B (est)Highspot, Inc. · Series D+ Raised $653.8M · modeled $6.5B (est)Amplitude, Inc. · Series D+ Raised $200.0M · modeled $6.3B (est)Tanium Inc. · Series D+ Raised $911.8M · modeled $5.8B (est)Osmosis Holdings, LP · Series D+ Raised $233.1M · modeled $5.3B (est)Vectra AI, Inc. · Series D+ Raised $192.4M · modeled $3.4B (est)Docusign, Inc. · Series D+ Raised $476.5M · modeled $1.5B (est)C3.ai, Inc. (this company) Raised $400.9M · modeled $2.1B (est)C3.ai, Inc.
CompanyStageRaised · realValue · estvs peer med.
GrubMarket, Inc.Series D+$279.1M$7.5B1.35×
Highspot, Inc.Series D+$653.8M$6.5B1.18×
Amplitude, Inc.Series D+$200.0M$6.3B1.13×
Tanium Inc.Series D+$911.8M$5.8B1.05×
Osmosis Holdings, LPSeries D+$233.1M$5.3B0.95×
Vectra AI, Inc.Series D+$192.4M$3.4B0.62×
C3.ai, Inc. this companySeries D+$400.9M$2.1B0.37×
Docusign, Inc.Series D+$476.5M$1.5B0.27×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$15.0M2013-05-15$68.2M$542.0M85%
Series C$97.0M2016-08-29$646.9M$4.0B90%
Series C$11.8M2017-03-02$78.7M$483.2M90%
Series D+$105.9M2018-01-16$882.2M$4.4B90%
Series D+$51.8M2019-02-27$431.3M$2.1B90%
Series D+$69.5M2019-06-06$578.9M$2.9B90%
Series D+$50.0M2019-08-15$416.7M$2.1B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$15.0M2013-05-15
    • First recorded raise — entered as Series A.
    • 3 investors on this round.
  2. Series C$97.0M2016-08-29
    • Raised again after 39 mo — slower than the ~11 mo sector norm.
    • Round 6.5× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 89 investors on this round.
  3. Series C$11.8M2017-03-02
    • Came back fast: 6 mo vs the ~11 mo sector norm.
    • Round 8.2× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  4. Series D+$105.9M2018-01-16
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 9.0× larger than the prior — scaling up.
    • 14 investors on this round.
  5. Series D+$51.8M2019-02-27
    • Raised 13 mo later, in step with the ~11 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 17 investors on this round.
  6. Series D+$69.5M2019-06-06
    • Came back fast: 3 mo vs the ~11 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
    • 1 investor on this round.
  7. Series D+$50.0M2019-08-15
    • Came back fast: 2 mo vs the ~11 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 7 investors on this round.
Intelligence
2020 ~Q3
Modeled next raise · ~13mo cadence
$50.0M
Modeled next size est.range $50.0M$80.0M
0.7×
Last step-up
$64.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Stephen M. Ward, Jr.2 other2013-05
Bruce M. Cleveland1 other2019-02
Edward Y. Abbo1 other2019-02
Mayo A. Shattuck III1 other2013-05
Michael G. McCaffery1 other2013-05
Nehal M. Raj1 other2016-08
Richard C. Levin1 other2013-05
S. Shankar Sastry1 other2013-05
Thomas M. Siebel1 other2013-05
Aaron M. Morris2013-05
Brady M. Mickelsen2019-02
Bruce M. Sewell2016-08
Condoleeza G. Rice2013-05
Condoleezza G. Rice2019-02
Ed M. Abbo2013-05
Houman M. Behzadi2019-02
Jay M. Dweck2013-05
Lorenzo M. Simonelli2019-02
Marc M. Levine2019-02
Nehal Y. Raj2019-02
Patricia M. House2013-05
Patricia Y. House2019-02
Paul M. Phillips2016-08
Spencer M. Abraham2013-05
Registry & provenance

C3.ai, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1577526
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
C3, LlcOther TechnologySeries B$111.9M$917.6Mnetwork5 shared operators
Pollen, Inc.AI / MLSeries D+$447.0M$310.2Msame sector · same stage
Abridge AI Inc.AI / MLSeries D+$458.0M$3.0Bsame sector · same stage
Docusign, Inc.AI / MLSeries D+$476.5M$1.5Bsame sector · same stage
Celestial AI Inc.AI / MLSeries D+$482.0M$1.5Bsame sector · same stage
Counsel AI CorpAI / MLSeries D+$490.8M$3.1Bsame sector · same stage
Vendr, Inc.AI / MLSeries D+$272.2M$3.5Bsame sector · same stage
AI Software, LLCAI / MLSeries D+$266.0M$2.9Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Compl.ai Inc.AI / MLSeed$55.1M91%
Horizon 3 AI, Inc.AI / MLSeries C$554.1M91%
Obviously AI, Inc.AI / MLSeries A$41.0M90%
System AI, Inc.AI / MLPre-Seed$8.4M90%
x.ai, inc.AI / MLSeries B$245.9M90%
Tend AI IncAI / MLSeed$88.8M89%
MD.ai, Inc.AI / MLSeed$74.4M89%
Concrete AI, Inc.AI / MLSeries A$23.6M89%
Frequently asked
How much funding has C3.ai, Inc. raised?
C3.ai, Inc. has raised approximately $400.9M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is C3.ai, Inc.'s estimated valuation?
Provath's modeled valuation for C3.ai, Inc. is approximately $2.1B (modeled range $277.7M–$4.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is C3.ai, Inc. at?
C3.ai, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Aug 15.
What does C3.ai, Inc. do and where is it based?
C3.ai, Inc. operates in the AI / ML sector, based in REDWOOD CITY.
Explore related

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