Companies · Software / Tech

JUUL Labs, Inc.

WASHINGTON, D.C. · Software / Tech · refined from filed group “Other · https://www.juullabs.com/

Diligence memoA one-page analyst read on JUUL Labs, Inc. — recommendation, valuation, rhythm, risks.
$4.4B
Total raised · real
8
Rounds
0.6×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Fri Oct 27 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

JUUL Labs, Inc. looks over-valued against its niche peers and is at-risk on financing cadence.

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

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

Over-valued
  • Modeled value is 3.84× the median modeled value of Growth/Late Software / Tech companies in 2022–2024 (6 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.7 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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 Software / Tech

JUUL Labs, Inc. is one of 3920 Software / Tech companies tracked from WASHINGTON, D.C.. By capital raised it ranks among the largest (ahead of 100% 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 analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Juul Labs is on a mission to transition the world’s billion adult smokers away from combustible cigarettes, eliminate their use, and combat underage usage of our products.

Juul Labs is on a mission to transition the world’s billion adult smokers away from combustible cigarettes, eliminate their use, and combat underage usage of our products. © 2026 JUUL Labs, Inc. All rights reserved. JUUL, Juul Labs, and other JUUL brands are trademarks of JUUL Labs, Inc. The Juul Labs corporate website is intended as an informational resource regarding the company, our mission, policies, and practices. It is not intended as a consumer or commercial site. All information presented on JuulLabs.com is in strict accordance with the regulations governing tobacco products established by the U.S. Food and Drug Administration and Centers for Disease Control and Prevention. The sale of tobacco products to minors is prohibited by law. Warning: This product contains nicotine. Nicotine is an addictive chemical. California Proposition 65 Warning: This product contains chemicals known to the state of California to cause cancer and birth defects or other reproductive harm. California Transparency in Supply Chains Act Juul Labs is committed to providing accessible products and services. If you have a question or comment about accessibility at Juul Labs, please contact us . We stri

Find Home • Juul Labs online

Trades publicly as Home • Juul Labs.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
26
Investors (latest)
2023-10-27
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$12.5B$25.0B$37.5B$50.0BSeed · 2011-05-04 Raised $3.2M (real) Modeled valuation $110M (est)Seed2011Series C · 2015-03-24 Raised $47M (real) Modeled valuation $1.5B (est)Series C2015Series A · 2015-03-24 Raised $6.5M (real) Modeled valuation $180M (est)Series A2015Series C · 2016-12-19 Raised $55M (real) Modeled valuation $1.7B (est)Series C2016Series A · 2016-12-19 Raised $4.4M (real) Modeled valuation $121M (est)Series A2016Series D+ · 2017-12-04 Raised $112M (real) Modeled valuation $3.5B (est)Series D+2017Growth/Late · 2018-06-26 Raised $650M (real) Modeled valuation $21.2B (est)Growth/Late2018Series D+ · 2019-08-02 Raised $325M (real) Modeled valuation $10.3B (est)Series D+2019Growth/Late · 2019-08-02 Raised $785M (real) Modeled valuation $25.6B (est)Growth/Late2019Growth/Late · 2020-02-03 Raised $722M (real) Modeled valuation $23.5B (est)Growth/Late2020Growth/Late · 2023-10-27 Raised $1.3B (real) Modeled valuation $20.1B (est)Growth/Late2023Growth/Late · 2023-10-27 Raised $2.0B (real) Modeled valuation $31.3B (est)Growth/Late2023Growth/Late · 2023-10-27 Raised $1.3B (real) Modeled valuation $20.2B (est)Growth/Late2023Cumulative $7.2B

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
Seed$3.2M · 2011
Series C$46.7M · 2015no Series A / Series B on file
Bridge · Series C-stage$6.5M · 2015smaller follow-on
Series C extension$55.0M · 2016
Bridge · Series C-stage$4.4M · 2016smaller follow-on
Series D+$111.5M · 2017
Growth/Late$650.0M · 2018
Bridge · Growth/Late-stage$325.0M · 2019smaller follow-on
Growth/Late extension$785.2M · 2019
Growth/Late extension$721.6M · 2020
Growth/Late extension$1.3B · 2023
Growth/Late extension$2.0B · 2023
Growth/Late extension$1.3B · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 71%.

Modeled valuation trajectory
$31.3B
Base estimate est.
$15.2B
Conservative case
$42.5B
Upside case
$19.8B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $110.1M · 2011-05-042011Series C · modeled $1.5B · 2015-03-24Series A · modeled $180.3M · 2015-03-24Series C · modeled $1.7B · 2016-12-19Series A · modeled $121.5M · 2016-12-19Series D+ · modeled $3.5B · 2017-12-04Growth/Late · modeled $21.2B · 2018-06-26Series D+ · modeled $10.3B · 2019-08-02Growth/Late · modeled $25.6B · 2019-08-02Growth/Late · modeled $23.5B · 2020-02-03Growth/Late · modeled $20.1B · 2023-10-27Growth/Late · modeled $31.3B · 2023-10-27Growth/Late · modeled $20.2B · 2023-10-272023
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
88%
Survival probability
76% low · 95% high
1.24×/yr
Annual markup
1.35×/yr upside case
2.7 yr
Elapsed time used
2.7 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$349.1M/yr
Capital velocity
15.2 yr
On record since
2011
First round
13
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. 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) 947× above median
This company$4.4B
Sector median$4.6M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 17× above median
This company$1.3B
Sector median$75.0M
Modeled value — vs sector median (estimate, all stages) 857× above median
This company$31.3B
Sector median$36.6M

Raised more than 100% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) 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 #1 of 6.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Jingbo Technology, Inc. · Growth/Late Raised $1.5B · modeled $19.1B (est)Yuga Labs, Inc. · Growth/Late Raised $424.1M · modeled $9.6B (est)Sanborn Analytics Inc · Growth/Late Raised $500.0M · modeled $6.7B (est)Pagaya Technologies Ltd. · Growth/Late Raised $3.5B · modeled $1.3B (est)ROM Technologies, Inc. · Growth/Late Raised $952.2M · modeled $62.8M (est)JUUL Labs, Inc. (this company) Raised $4.4B · modeled $31.3B (est)JUUL Labs, Inc.
CompanyStageRaised · realValue · estvs peer med.
JUUL Labs, Inc. this companyGrowth/Late$4.4B$31.3B3.84×
Jingbo Technology, Inc.Growth/Late$1.5B$19.1B2.34×
Yuga Labs, Inc.Growth/Late$424.1M$9.6B1.17×
Sanborn Analytics IncGrowth/Late$500.0M$6.7B0.83×
Pagaya Technologies Ltd.Growth/Late$3.5B$1.3B0.16×
ROM Technologies, Inc.Growth/Late$952.2M$62.8M0.01×
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.
Seed$3.2M2011-05-04$16.2M$110.1M85%
Series C$46.7M2015-03-24$311.2M$1.5B85%
Series A$6.5M2015-03-24$29.5M$180.3M85%
Series C$55.0M2016-12-19$366.7M$1.7B90%
Series A$4.4M2016-12-19$19.9M$121.5M90%
Series D+$111.5M2017-12-04$929.2M$3.5B90%
Growth/Late$650.0M2018-06-26$6.5B$21.2B90%
Series D+$325.0M2019-08-02$2.7B$10.3B90%
Growth/Late$785.2M2019-08-02$7.9B$25.6B90%
Growth/Late$721.6M2020-02-03$7.2B$23.5B90%
Growth/Late$1.3B2023-10-27$12.7B$20.1B90%
Growth/Late$2.0B2023-10-27$19.8B$31.3B90%
Growth/Late$1.3B2023-10-27$12.8B$20.2B90%
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. Seed$3.2M2011-05-04
    • First recorded raise — entered as Seed.
    • 5 investors on this round.
  2. Series C$46.7M2015-03-24
    • Raised again after 47 mo — slower than the ~13 mo sector norm.
    • Round 14.5× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 54 investors on this round.
  3. Series A$6.5M2015-03-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 7.2× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  4. Series C$55.0M2016-12-19
    • Raised again after 21 mo — slower than the ~13 mo sector norm.
    • Round 8.5× larger than the prior — scaling up.
    • 34 investors on this round.
  5. Series A$4.4M2016-12-19
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 12.6× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  6. Series D+$111.5M2017-12-04
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 25.5× larger than the prior — scaling up.
    • 23 investors on this round.
  7. Growth/Late$650.0M2018-06-26
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 10 investors on this round.
  8. Series D+$325.0M2019-08-02
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  9. Growth/Late$785.2M2019-08-02
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.4× larger than the prior — scaling up.
    • 14 investors on this round.
  10. Growth/Late$721.6M2020-02-03
    • Came back fast: 6 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 20 investors on this round.
  11. Growth/Late$1.3B2023-10-27
    • Raised again after 45 mo — slower than the ~13 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 4 investors on this round.
  12. Growth/Late$2.0B2023-10-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× larger than the prior — scaling up.
    • 138 investors on this round.
  13. Growth/Late$1.3B2023-10-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 26 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~12mo cadence
$1.3B
Modeled next size est.range $1.3B$2.0B
0.6×
Last step-up
$349.1M/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
Hoyoung Huh6 other2017-12
Riaz Valani4 other2011-05
Kevin Burns3 other2017-12
Zachary Frankel2 other2017-12
Adam Bowen1 other2011-05
James Monsees1 other2011-05
Saurabh Sinha1 other2020-02
Ashley Gould2016-12
David Barse2023-10
Gerald Masoudi2018-06
Harold Handelsman2015-03
Joel Klein2023-10
K.C. Crosthwaite2020-02
Nicholas Pritzker2015-03
Paul Aronzon2023-10
Timothy Danaher2016-12
Tom Dykstra2011-05
Tyler Goldman2016-12
Tyler Mace2023-10
Vittal Kadapakkam2023-10
Registry & provenance

JUUL Labs, 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
1520049
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
PAX Labs, Inc.Software / TechGrowth/Late$445.7M$14.5Bnetwork2 shared operators · same sector · same stage
Pagaya Technologies Ltd.Software / TechGrowth/Late$3.5B$1.3Bsame sector · same stage
Palantir Technologies Inc.Software / TechGrowth/Late$2.5B$17.9Bsame sector · same stage
Foundation Technology Worldwide LLCSoftware / TechGrowth/Late$2.5B$6.5Bsame sector · same stage
Marvell Technology, Inc.Software / TechGrowth/Late$2.2B$1.9Bsame sector · same stage
Beta Technologies Inc.Software / TechGrowth/Late$1.6B$3.2Bsame sector · same stage
Jingbo Technology, Inc.Software / TechGrowth/Late$1.5B$19.1Bsame sector · same stage
Ramp Business CorpOther TechnologyGrowth/Late$2.2B$3.1Bnetwork1 shared operator · 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
Lucy Goods, Inc
Lucy’s mission is to reduce tobacco-related harm to zero. We provide…
Biotech75%
Juva Life, Inc.PharmaceuticalsSeries A$168.8M70%
JucaBio LLCOtherSeed$13.5M70%
JUVA LIFE INC./CanadaBiotechnologyPre-Seed$7.7M69%
Hemp2Lab, LLCOtherPre-Seed$22.0M69%
CancerVAX, Inc.BiotechnologyPre-Seed$7.2M68%
X-Vax Technology, Inc.BiotechnologySeries C$2.3B68%
Smoke-i CorpOtherPre-Seed$12.0M67%
Frequently asked
How much funding has JUUL Labs, Inc. raised?
JUUL Labs, Inc. has raised approximately $4.4B in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is JUUL Labs, Inc.'s estimated valuation?
Provath's modeled valuation for JUUL Labs, Inc. is approximately $31.3B (modeled range $15.2B–$42.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is JUUL Labs, Inc. at?
JUUL Labs, Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Fri Oct 27.
What does JUUL Labs, Inc. do and where is it based?
JUUL Labs, Inc. operates in the Software / Tech sector, based in WASHINGTON, D.C.. Juul Labs is on a mission to transition the world’s billion adult smokers away from combustible cigarettes, eliminate their use, and combat underage usage of our products.
Explore related

See where JUUL Labs, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at JUUL Labs, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.