HUNTINGTON BEACH, Calif. - Rocket Lab has closed a Series D financing round, raising $75 million in the process. The company, with operations in the U.S. and New Zealand, announced the closing on March 21.
The round was led by Data Collective, with additional investment from Promus Ventures and an undisclosed investor, and with renewed participation from Bessemer Venture Partners, Khosla Ventures and K1W1.
This is the first time that Rocket Lab has publically revealed the amount of funding raised. A Series A was closed in October 2013 and a Series B was closed in March 2015. Rocket Lab also conducted a Series C round sometime between March 2015 and March 2017. In total, the company says it has now raised $148 million, and is valued in excess of $1 billion.
Along with investing in Rocket Lab, Data Collective Managing Partner Matt Ocko will join Rocket Lab's board of directors, joining existing members David Cowan (Bessemer Venture Partners), Sven Strohband (Khosla Ventures) and Scott Smith (Iridium Satellites).
As part of the announcement, Rocket Lab also indicated it is opening a new facility in Huntington Beach. The new facility will house the company's U.S. headquarters, which moved from Los Angeles, as well as a 150,000 square foot production facility that will produce engines and electronics components.
Rocket Lab is one of a group of companies entering the market to address the need for small satellite launch services. With Firefly Space now auctioning off assets, Rocket Lab and Virgin Orbit are the two primary lightweight launch competitors.
Rocket Lab is in a good place in the industry to be successful. The company has a number of customers booked. In fact, according to the company's website, flights on its $4.9 million Electron launch vehicle are fully booked until the first quarter of 2018 and at least partially booked until the second quarter of 2019.
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