Rogo raises $160M Series D at $2B for AI on Wall Street

Bloomberg reported the round, and Techmeme logged it on April 29. Sequoia, Thrive, Khosla, J.P. Morgan Growth Equity Partners, BoxGroup, Mantis and Positive Sum also took part. Evantic and angel Jack Altman joined as new investors. Rogo said total funding passed $300 million and that more than 35,000 people at over 250 institutions use the software. Customers include Rothschild & Co, Jefferies, Lazard, Moelis and Nomura. The pace is fast. In September, five more banks invested: Barclays, BNP Paribas, Citi Ventures, MUFG and Societe Generale. Rogo did not disclose an amount or a valuation. One analyst noted that embedding forward-deployed bankers and engineers inside clients resembles a professional services model, which could limit margin expansion. For founders, the round shows that vertical AI with deep workflow integration can command a steep valuation step-up in a few months. Banks are also investing in their own vendor, which may speed adoption and procurement. The cost is dependence on a small group of large customers, and delivery that relies on heavy hands-on work. Investors will want to see whether that work can turn into repeatable software margins.