While last year R3 had implied that the company had a larger goal of raising $200 mln in funding, R3 told Fortune that the figure came from a now-cancelled plan to sell a stake in a research subsidiary. The unnamed former R3 employees told Fortune that the consortium’s internal financial targets are “10X short” of their revenue, with the figure described as “laughably off.”
Charley Cooper, an R3 managing director, told Fortune that the company is not in danger of running out of revenue and will release an update on their finances at the end of the calendar year: