This is a new weekly feature that runs down the week鈥檚 top 10 funding rounds in the U.S. Check out last week’s entry here.
Healthtech had a big week, with several of the largest rounds in the US going to companies looking at ways to fight brain disease, autism and diabetes. However, that was far from the only big round of the week, as new ways to sell cars, cybersecurity and big data enterprise software companies all saw big checks come their way.
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The leaders:
- The largest funding announcement of the week was from Watertown, Massachusetts-based , a clinical-stage biotechnology company that is using data science and neuroscience to combat brain diseases. The company, founded in 2019, announced funding totaling $500 million鈥攊ncluding a $400 million Series A led by and an additional聽$100 million from .
- Even as due to chip shortages and supply chain disruptions, Pleasanton, California-based automotive retail platform closed a $250 million Series D led by and co-led by . The round values the company at $3.5 billion, up from its $1 billion-plus valuation late last year. While it may seem counterintuitive for an auto retail platform to increase its valuation more than 3x in 12 months with car sales down, why some dealerships benefit from such a situation鈥攕uch as higher prices and lower inventory cutting operating costs.
- San Francisco-based 鈥攆ormerly Sprout Therapy鈥攔aised $219 million in a funding round led by 2 at a $1.15 billion valuation. The company provides in-home and online behavioral care for children with autism. Founded in 2019, Elemy has now raised a total of $270 million. According to the company’s CEO, pediatric behavioral health conditions affect 1 in every 5 children, and in the U.S. alone cost society over $300 billion annually.
- As data grows, the need to observe and monitor it in order to make sure applications are running properly and it is flowing to the correct places becomes more important. So important that it has produced a rather young unicorn. New York-based closed a $200 million Series C led by previous investor 鈥攂ringing its total funding raised to $255 million. The company now has a valuation of more than $1 billion, despite being founded only about 30 months ago by two former engineers.
- Cybersecurity continues its record-setting tear and Los Angeles-based cloud security provider is the latest company in the space to ride that wave to a big round. The cloud security company extended its Series C鈥攐riginally announced in March鈥攂y adding an additional $190 million and bringing total capital raised for the round to $550 million. Singapore鈥檚 led the latest add-on鈥攚hich increased Orca鈥檚 valuation 50 percent in seven months to $1.8 billion. That valuation likely has been helped out by more enterprises moving to the cloud鈥攅specially during the pandemic鈥攁nd needing added cloud security tools to keep their networks safe. Orca has now raised $632 million in total funding.
Quick hits:
- New York-based customer data company , which helps businesses manage their growing amount of consumer data moving to and from different systems and applications, closed a $150 million Series E led by s growth fund. Founded in 2013, mParticle has raised $272 million to date, according to 附近上门 data.
- Mountain View, California-based closed a $140 million Series C led by . The company creates what is called a 鈥渄igital twin鈥 of a patient, collecting health data about a person from blood tests, consultation and connected devices, to personalize its recommendations to better manage diabetes and and other cardiometabolic diseases.
- Cambridge, Massachusetts-based application networking company raised a $135 million Series C led by at a valuation of $1 billion, giving the company a total of $171.5 million in funding.
- Redwood City, California-based , which helps school districts modernize student transportation, closed a $130 million Series D funding led by SoftBank Vision Fund 2.
- New York-based artwork investment platform raised a $110 million Series A led by at a valuation of more than $1 billion.
In other news:
While Neumora Therapeutics saw the largest round globally, the other聽top two rounds raised this week both went to India-based companies鈥攅dtech company raised a $294 million Series F, and cryptocurrency exchange platform closed a $260 Series C. As global funding continues to set records, total funding in the U.S. was also up this week, hitting almost $4.3 billion, compared to last week鈥檚 more than $3.8 billion.
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