Companies · Mining & Resources

KoBold Metals Co

Berkeley · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on KoBold Metals Co — recommendation, valuation, rhythm, risks.
$1.2B
Total raised · real
4
Rounds
0.6×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Thu Oct 30 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

KoBold Metals Co has raised $1.2B over 4 rounds; too few niche peers to rank its valuation yet.

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

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

Active
  • Last raise 8 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Mining & Resources

KoBold Metals Co is one of 701 Mining & Resources companies tracked from Berkeley. 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
24
Investors (latest)
2025-10-30
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 D+ · 2022-01-10 Raised $201M (real) Modeled valuation $1.1B (est)$201M$1.1BSeries D+2022Series D+ · 2023-03-21 Raised $195M (real) Modeled valuation $1.1B (est)$195M$1.1BSeries D+2023Growth/Late · 2024-09-20 Raised $491M (real) Modeled valuation $3.6B (est)$491M$3.6BGrowth/Late2024Growth/Late · 2025-10-30 Raised $280M (real) Modeled valuation $2.3B (est)$280M$2.3BGrowth/Late2025Series D+ · 2025-10-30 Raised $163M (real) Modeled valuation $1.1B (est)$163M$1.1BSeries D+2025+$195M+$491M+$280M+$163MCumulative $1.3B

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 D+$200.8M · 2022
Series D+ extension$195.0M · 2023
Growth/Late$491.5M · 2024
Growth/Late extension$280.0M · 2025
Bridge · Growth/Late-stage$163.4M · 2025smaller follow-on

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 29%.

Modeled valuation trajectory
$2.3B
Base estimate est.
$2.1B
Conservative case
$2.6B
Upside case
$2.8B
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 extractive sector profile. Directional, not a quoted figure.

Series D+ · modeled $1.1B · 2022-01-102022Series D+ · modeled $1.1B · 2023-03-21Growth/Late · modeled $3.6B · 2024-09-20Growth/Late · modeled $2.3B · 2025-10-30Series D+ · modeled $1.1B · 2025-10-302025
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
86%
Survival probability
74% low · 92% high
0.92×/yr
Annual markup
1.00×/yr upside case
0.7 yr
Elapsed time used
0.7 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$307.0M/yr
Capital velocity
4.5 yr
On record since
2022
First round
5
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. 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) 508× above median
This company$1.2B
Sector median$2.3M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.3× of median
This company$163.4M
Sector median$491.5M
Modeled value — vs sector median (estimate, all stages) 893× above median
This company$2.3B
Sector median$2.5M

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

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 D+$200.8M2022-01-10$1.7B$1.1B90%
Series D+$195.0M2023-03-21$1.6B$1.1B90%
Growth/Late$491.5M2024-09-20$4.9B$3.6B90%
Growth/Late$280.0M2025-10-30$2.8B$2.3B90%
Series D+$163.4M2025-10-30$1.4B$1.1B90%
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 D+$200.8M2022-01-10
    • First recorded raise — entered as Series D+.
    • 32 investors on this round.
  2. Series D+$195.0M2023-03-21
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 19 investors on this round.
  3. Growth/Late$491.5M2024-09-20
    • Raised again after 18 mo — slower than the ~11 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 38 investors on this round.
  4. Growth/Late$280.0M2025-10-30
    • Raised 13 mo later, in step with the ~11 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 26 investors on this round.
  5. Series D+$163.4M2025-10-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 24 investors on this round.
Intelligence
2026 ~Q4
Modeled next raise · ~11mo cadence
$163.4M
Modeled next size est.range $163.4M$261.5M
0.6×
Last step-up
$307.0M/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
John Thompson12 other2025-10
Joshua Goldman3 other2025-10
Connie Chan1 other2025-10
Karl White1 other2025-10
Charles Zenz Park2025-10
Connie Zens Chan2022-01
Connie Zenz Chan2023-03
Daniel Enderton2025-10
Daniel Zenz Enderton2025-10
Jay Simons2025-10
Jay Zenz Simons2024-09
Jeroen Zens Van Der Hoek2022-01
Jeroen Zenz Van Der Hoek2023-03
John Zens Thompson2022-01
John Zenz Thompson2023-03
Joshua Zenz Goldman2025-10
Josh Zens Goldman2022-01
Josh Zenz Goldman2023-03
Karl Zens White2022-01
Karl Zenz White2023-03
Kurt House2025-10
Kurt Zens House2022-01
Kurt Zenz House2023-03
Mfikeyi Makayi2025-10
Registry & provenance

KoBold Metals Co 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
1907824
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
Scandium International Mining Corp.Mining & ResourcesSeed$12.4M$511Knetwork1 shared operator · same sector
Whatnot Inc.Other TechnologySeries D+$935.1M$1.9Bnetwork1 shared operator
High Power Exploration Inc.Mining & ResourcesSeries D+$503.0M$1.2Bsame sector
Silver Spike Acquisition Corp.Mining & ResourcesSeries D+$325.0M$1.7Bsame sector
Gold Reserve LtdMining & ResourcesSeries C$250.4M$370.6Msame sector
Desktop Metal, Inc.Mining & ResourcesSeries D+$207.4M$796.4Msame sector
Code Metal, Inc.Mining & ResourcesSeries D+$181.9M$815.0Msame sector
MINERALRITE CorpMining & ResourcesSeries D+$180.0M$1.1Bsame sector
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
KO Gold Inc.Mining & ResourcesPre-Seed$774K85%
Compass Mining, Inc.Mining & ResourcesSeed$8.2M84%
Kingfisher Metals Corp.Mining & ResourcesPre-Seed$1.6M84%
Red Metals, Inc.Mining & ResourcesSeries A$23.7M83%
Yukon Metals Corp.Mining & ResourcesPre-Seed$1.5M83%
Red Metal Resources, Ltd.Mining & ResourcesPre-Seed$4.2M83%
KORE Mining Ltd.Mining & ResourcesPre-Seed$2.4M83%
Capacitor Metals Corp.Mining & ResourcesPre-Seed$300K82%
Frequently asked
How much funding has KoBold Metals Co raised?
KoBold Metals Co has raised approximately $1.2B in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is KoBold Metals Co's estimated valuation?
Provath's modeled valuation for KoBold Metals Co is approximately $2.3B (modeled range $2.1B–$2.6B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is KoBold Metals Co at?
KoBold Metals Co's latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Thu Oct 30.
What does KoBold Metals Co do and where is it based?
KoBold Metals Co operates in the Mining & Resources sector, based in Berkeley.
Explore related

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