Rogo has raised $160 million in Series D funding, pushing its total capital raised above $300 million and sharpening its claim on one of finance's most lucrative AI workflows: investment banking.
The round, announced on April 29, was led by Kleiner Perkins, with Sequoia, Thrive and Khosla also participating. Rogo says more than 35,000 finance professionals at over 250 institutions now use its platform, including Rothschild & Co, Jefferies, Lazard, Moelis and Nomura.
This Round Is About Felix, Not Another Research Tool
Rogo's earlier pitch was relatively contained: help analysts move faster on diligence, research and memo writing. The new message is more ambitious. Its product Felix is described as agentic AI that can carry out complex, multi-step finance workflows.
- Deal screening: identifying potential M&A targets.
- CIM generation: drafting confidential information memoranda that used to consume analyst nights.
- Buyer outreach: helping contact likely acquirers.
- Data-room diligence: reviewing documents and extracting deal-relevant findings.
CEO Gabriel Stengel framed the shift as a move from task automation toward AI-native companies where agentic systems run across departments. In plain terms, Rogo is selling less of a copilot and more of a finance colleague.
Why The Customer List Matters
The named clients are not casual software buyers. Rothschild, Jefferies, Lazard, Moelis and Nomura sit in the thick of M&A, restructuring and IPO work, where confidentiality, accuracy and workflow fit are hard requirements. If Felix works there, it is handling more than generic equity-research tasks.
The usage figure also changes the competitive story. Before this round, Rogo had not widely disclosed active-user scale. Saying 35,000 professionals now use the product signals that the land grab in finance-specific agents is already well under way.
Kleiner Perkins Is Betting On An Operating System
Kleiner Perkins partner Mamoon Hamid pointed to Rogo's technical depth, proprietary data integrations and domain expertise, calling the company a potential operating system for the industry and a generational opportunity. In venture language, that is a much higher bar than calling something a tool or platform.
A Crowded Vertical AI Race
Rogo is entering a market where Harvey has pushed legal AI to an $11 billion valuation, Hebbia is attacking multi-document analysis, and Kensho remains embedded inside S&P Global. The common thread is not consumer AI. It is vertical software for expensive, sensitive and complicated work.
Rogo says the new capital will support global expansion and deeper development of Felix. London and Hong Kong are obvious targets for an investment-banking product with that ambition.
The Quiet JPMorgan Signal
One detail in the announcement is easy to miss: J.P. Morgan Growth Equity Partners joined the round. JPMorgan has its own AI efforts, including IndexGPT, but it is also taking an equity position in Rogo. Bank adoption of AI agents is moving beyond procurement and into strategic positioning.
Sources: Rogo Raises $160M Series D to Scale the Agentic Platform for Finance (PR Newswire / Morningstar); Rogo raises $160M to speed up financial analysis with AI agents (SiliconANGLE); CocoLoop; Kleiner Perkins leads Rogo's $160M raise to build the AI operating system for investment banking (Tech Funding News)