> We also realize there is a natural curiosity about valuation specifics. With this $75M round, the business is valued at $500M. In the last two years, the market has changed substantially, driven by rising interest rates and higher cost of capital. This means our valuation is lower than our previous peak, but we are happy to finally be marked to this new market.

Looks like a massive down round from a "valuation" of $2 billion. Was overvalued anyway.