Fewer Exits Last Week, While Financing Rounds Remained Strong
John Gannon
Founder (Venture5 Media & V5 Summit, GoingVC) + Investor (Angel, LP, Syndicate Lead)
Last week saw just a few acquisitions of VC-backed companies, while plenty of Healthcare, Enterprise - and, of course, AI - startups raised venture rounds.
Let’s take a closer look.
John
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📈LAST WEEK IN REVIEW📈
Here's how U.S. investors backed companies by geographic location this week (vs last week):
California: 25 deals totaling $801.9 million (vs 36 deals, $1,388.0 million last week)
The Northeast: 15 deals, $440.4 million (vs 7 deals, $56.6 million)
Midwest: 5 deals, $61.6 million (vs 2 deals, $11.0 million)
Pacific Northwest: 2 deals, $104.0 million (vs 1 deal, $112.0 million)
Rockies: 2 deals, $23.2 million (vs no deals last week)
Southeast: 3 deals, $53.7 million (vs 4 deals, $144.3 million)
Southwest: 2 deals, $70.0 million (vs 3 deals, $20.6 million)
The pie chart below displays the distribution of investment across different funding stages for the 41 of 54 U.S. deals where such details were provided.
⭐FEATURED DEAL⭐
🏗️ Buildstock, a New York, NY-based b2b marketplace and FinTech platform for construction materials, raised $1.6 million in a pre-Seed funding round from Precursor, MGV, XFactor and RefashionD.
📈LAST WEEK’S MOST POPULAR LINK📈
🏗️ Higharc, a Durham, NC-based cloud platform for homebuilding operations, raised $53 million in a Series B funding round co-led by Spark Capital and Pillar VC, with participation from Schneider Electric, Fifth Wall, Starwood Capital, Standard Investments, Home Depot, Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, MetaProp, SC Masterfund and individual investors.
🤝 M&A 🤝
🧠 Jasper, an Austin, TX-based generative AI platform for brands that most recently raised $125 million at a $1.5 billion valuation from Insight Partners, Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, Coatue, HubSpot Ventures and other investors, acquired Clipdrop, the image creation and editing platform of Stability AI, a London, U.K.-base open AI tools platform, for an undisclosed amount.
🛋️ Havenly, a Denver, CO-based online interior design startup which has raised $57.8 million from Lerer Hippeau, Foundry Group, Kickstart Ventures and Gingerbread Capital, acquired The Citizenry, a Dallas, TX-based home decor brand, for an undisclosed amount.
📡 Nuview, an Orlando, FL-based startup aiming to map the world from space using LiDAR technology which has raised $15 million from MaC Venture Capital, Broom Ventures, Cortado, Florida Funders, Industrious, Liquid2, Veto Capital and individual investors, acquired Astraea, a Charlottesville, VA-based spatiotemporal analytics platform, for an undisclosed amount.
🏦 Xalts, a Singapore-based financial infrastructure platform for institutions which has raised $6 million from Accel, Citi Ventures and other investors, acquired Contour Network, a Hong Kong-based digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP, for an undisclosed amount in the high single millions, with a mix of cash and stock consideration.
🐵 Yuga Labs, a Coral Gables, FL-based Web3 media and entertainment company which has raised ~$450 million from New Enterprise Associates, Lightspeed, a16z crypto, Animoca, Coinbase and other investors, acquired Proof, a distributed Web3 digital art platform, for an undisclosed amount.
🔎 SOURCING IDEAS 🔎
Companies that had raises reported ~1 year ago, on or around Feb 24, 2023
💻 Chronicle, a San Francisco, CA- and Sydney, Australia-based presentation deck software maker, raised $7.5 million in a Seed funding round from Accel, Square Peg and a number of angel investors.
👽 Strider, a New York, NY-based collaborative storytelling startup, raised $5.5 million in a Seed funding round co-led by Makers Fund and Fabric Ventures, with participation from Shima Capital, Sfermion, Magic Eden and other investors.
🎽 Tracksuit, an Auckland, New Zealand-based brand tracking startup, raised $5 million in a Seed funding round led by Blackbird, with participation from Shasta Ventures, Icehouse Ventures, Ascential and individual investors.
💰 VC DEALS 💰
🏥 HealthSnap, a Miami, FL-based company that offers home-based remote patient monitoring for chronic conditions, raised $25 million in a Series B funding round led by Sands Capital, with participation from Comcast Ventures, Acronym Venture Capital, Florida Opportunity Fund, Asclepius Growth Capital, Florida Funders, MacDonald Ventures and TGH Ventures, bringing the total amount raised to date to $48.5 million.
🏥 Fabric, a New York, NY-based developer of a care enablement system which automates clinical and administrative work, raised $60 million in a Series A funding round led by General Catalyst, with participation from Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, Box Group and Atento Capital.
🔎 Dili, a New York, NY-based startup automating capital markets due diligence, raised $3.6 million in a funding round from Allianz Strategic Investments, Rebel Fund, Singularity Capital, CoreNest, Decacorn, Pioneer Fund, NVO Capital, Amino Capital, Rocketship VC, Hi2 Ventures, Gaingels and Hyper Ventures.
📡 Uhnder, an Austin, TX-based provider of commercial digital radar chips and software, raised $50 million in a Series D funding round led by ACME Capital, with participation from Magna, Qualcomm Ventures, El Camino Capital, Monta Vista Capital, Sagitta Ventures and HT Capital.
💊 Frontier Medicines, a San Francisco, CA-based discovery and development platform to generate medicines against disease-causing proteins, raised $80 million in a Series C funding round co-led by Deerfield Management and Droia Ventures, with participation from Galapagos, DCVC Bio, MPM Capital and RA Capital Management.
🏥 Pozitivf, a San Antonio, TX-based fertility clinic network, raised $20 million in a funding round led by MonCap.
🛒 Crisp, a New York, NY-based collaborative commerce company, raised $50 million including $20 million in a Series B extension round from Blue Cloud Ventures, FirstMark Capital, Spring Capital and 3L, as well as up to $30 million in debt financing from TriplePoint Capital.
🏥 Carewell, a Miami, FL-based online retailer for family caregivers, raised $24.7 million in a Series B funding round led by MBF Healthcare Partners, with participation from Sageview Capital and Headline.
More in Home Health Care News →
⚡ Antora Energy, a Sunnyvale, CA-based thermal battery startup providing heavy industry with zero-carbon heat and power, raised $150 million in a Series B funding round led by Decarbonization Partners, with participation from The Nature Conservancy, GS Futures and NextEra Energy Resources.
☁️ Synadia, a San Mateo, CA-based open source cloud tech company, raised $25 million in a Series B funding round led by Forgepoint Capital, with participation from Singtel Innov8, LDVP and 5G Open Innovation Lab.
🏥 Blackbird Health, a Pittsburgh, PA-based mental health care provider for kids and young adults, raised $17 million in a series A funding round led by Define Ventures, with participation from Frist Cressey Ventures and GreyMatter.
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💲 Evergrowth, a Vilnius, Lithuania-based account-based B2B sales software startup for tech and services companies, raised $2.2 million in a pre-Seed funding round led by Impellent Ventures and Practica Capital.
🚗 Haomo.ai, a Beijing, China-based autonomous driving startup, raised $14 million in the first tranche of a Series B funding round led by Chengdu Wufa Private Equity Fund, bringing the total amount raised to date to over $200 million.
🎓 Ziplines Education, a San Carlos, CA-based company offering online digital skills courses to university students, raised $6.4 million in a Series A funding round led by Jackson Square Ventures, with participation from Wildcat Venture Partners and WGU Labs.
🗒️ Qloo, a New York, NY-based culture trends and consumer preferences analytics startup, raised $25 million in a Series C funding round led by AI Ventures, with participation from AXA Venture Partners, Eldridge and Moderne Ventures.
🧊 Ventiva, a Fremont, CA-based company which specializes in active cooling solutions for electronic devices, raised $10 million in a Series C funding round from undisclosed investment funds and existing investors, bringing the total amount raised to date to $40 million.
⌨️ VectorShift, a New York, NY-based generative AI application development startup, raised $3 million in a Seed funding round from 1984 Ventures, defy.vc, Formus Capital, Y Combinator, Soma Capital, 468 Ventures and Pioneer Ventures.
⌨️ Orkes, a Cupertino, CA-based microservices orchestration platform for developers, raised $20 million in a Series A funding round led by Nexus Venture Partners, with participation from Battery Ventures and Vertex Ventures US.
🗣️ Conservation Labs, a Pittsburgh, PA-based provider of an artificial intelligence (AI) platform that decodes audio data into actionable insights in the built environment to reduce carbon emissions and energy and water usage, raised $7.5 million in a Series A funding round led by RET Ventures’ Housing Impact Fund, with participation from Sustain VC.
👁️ Faddom, a Ramat Gan, Israel-based application observability platform, raised $12 million in a Series A funding round from Viola Ventures, NFX and a number of individual investors.
☁️ Clumio, a Santa Clara, CA-based cloud data backup and recovery company which helps organizations simplify data protection in AWS, raised $75 million in a Series D funding round led by Sutter Hill Ventures, with participation from Index Ventures, Altimeter Capital and NewView Capital.
🔋 Ascend Elements, a Westborough, MA-based provider of a sustainable, closed-loop battery materials solutions, raised additional $162 million in a funding round from Just Climate, Clearvision Ventures and IRONGREY, bringing the total amount raised to date to $704 million.
🧬 Trace Genomics, an Ames, IA-based precision soil analytics startup, raised $10.5 million in a Series B funding led by S2G Ventures and Ajax Strategies, with participation from Rabo Ventures.
🏥 9amHealth, a San Diego, CA-based virtual provider of cardiometabolic health care, raised $9.5 million in a Series A extension funding round led by The Cigna Group Ventures, with participation from 7Wire Ventures, Define Ventures, Leaps by Bayer and Founders Fund.
🏥 Axle Health, a Los Angeles, CA-based provider of home health care scheduling and workforce management software, raised $4.2 million in a Seed funding round from Pear VC and Trac VC.
🏥 Power, a San Francisco, CA-based clinical trials marketplace, raised $12 million in a Series A funding round co-led by Kin and Contrary, with participation from Footwork.
🏥 UnityAI, a Nashville, TN-based hospital operations management startup, raised $4 million in a Seed funding round led by Max Ventures, with participation from Whistler Capital Partners, Nashville Capital Network and Company Ventures.
🏥 Elektra Health, a New York, NY-based menopause health startup, raised $3.3 million in additional Seed funding round led by UPMC Enterprises, with participation from Wavemaker 360, Flare Capital Partners and Seven Seven Six Fund.
🏥 Oula, a New York, NY-based maternity care clinic startup, raised $28 million in a Series B funding round co-led by Revolution Ventures and Maverick Ventures, with participation from GV, Female Founders Fund, 8VC, Alumni Ventures and Great Oak.
🖧 Recogni, a San Jose, CA-based Al inference computing company, raised $102 million in a Series C funding round co-led by Celesta Capital and GreatPoint Ventures, with participation from HSBC and Tasaru Mobility Investments.
🧫 Bioptimus, a Paris, France-based startup building foundational AI models for biology, raised $35 million in a Seed funding round led by Sofinnova Partners, with participation from Bpifrance, Frst, Cathay Innovation, Headline, Hummingbird, NJF Capital, Owkin and Top Harvest Capital.
🦰 Planity, a Paris, France-based salon management software startup, raised $48 million in a Series C funding round led by InfraVia Capital Partners, with participation from Crédit Mutuel Innovation, Revaia and Bpifrance Digital Venture Fund.
🛒 Techtaka (aka ARGO), a Seoul, South Korea-based online shopping fulfillment startup that provides 3PL services for Ecommerce sellers, raised $9.5 million in a Series B funding round from Altos Ventures.
🔋 Elve, a Davis, CA-based provider of power amplifiers for high data rate communication networks, raised $15 million in a Series A funding round from Lockheed Martin Ventures, TomEnterprise Private AB, Green Sands Equity, Yu Galaxy and Cambium Capital.
💼 Hellohive, a New York, NY-based virtual recruitment and resume platform focused on equitable hiring, raised $3.4 million in a Series A funding round led by the Tisch family.
⚡ Rock Rabbit, a Palo Alto, CA-based provider of energy rebate software, raised $3.1 million in a Seed funding round led by Powerhouse Ventures.
⛓️ EigenLayer, a Seattle, WA-based developer of EigenLayer, an Ethereum re-staking project, raised $100 million in a funding round from a16z crypto.
🏗️ PermitFlow, a San Jose, CA-based construction permitting automation and management startup, raised $31 million in a Series A funding led by Kleiner Perkins, with participation from Initialized Capital, Y Combinator, Felicis Ventures and Altos Ventures.
☁️ Highway 9 Networks, a Santa Clara, CA-based enterprise mobile cloud company, raised $25 million in a funding round from Mayfield, General Catalyst and Detroit Ventures.
💸 Dub, a New York, NY-based copy-trading startup that allows automatically following other investors, raised $17 million in a funding round (including $2 million in debt) led by Tusk Venture Partners, with participation from a number of individual investors.
🎓 Empowerly, a San Francisco, CA-based personalized college and career guidance company, raised $15 million in a funding round led by Conductive Ventures.
🌎 Clairity Technology, a Culver City, CA-based direct capture carbon dioxide removal startup, raised $6.75 million in a Seed funding round co-led by Lowercarbon Capital and Initialized Capital.
⛓️ Inco, a New York, NY-based Ethereum layer developer, raised $4.5 million in a Seed funding round led by 1kx, with participation from Circle Ventures, Robot Ventures, Portal VC, Alliance DAO, Big Brain Holdings, Symbolic, GSR, Polygon Ventures, Daedalus, Matter Labs and Fenbushi.
🧠 Magic.dev, a San Francisco, CA-based startup building an AI software engineer, raised $117 million in a funding round led by individual investors, with participation from CapitalG and individual investors.
💊 Insamo, a Berkeley, CA-based biotechnology company advancing membrane-permeable and orally available cyclic-peptides, raised $12 million in a Seed funding round from Playground Global, venBio, MRL Ventures Fund, Sahsen Ventures, BEVC, Civilization Ventures and Axial Ventures.
🧠 Novity, a San Carlos, CA-based maintenance prediction AI company, raised $7.8 million in a funding round led by WERU Investment, with participation from Myriad Venture Partners and Metawater Co.
🎙️ EngineEars, a Los Angeles, CA-based vertical SaaS platform for artists, engineers, producers and record labels, as well as a studio marketplace, raised $7.5 million in a Seed funding round led by Drive Capital, with participation from Slauson & Co., 645 Ventures, FLUS Investment Group and a number of individual investors.
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💡 Eli Technologies, a Philadelphia, PA-based startup helping with home electrification financing, raised $6.8 million in a Seed funding round led by Lowercarbon Capital and Spero Ventures, with participation from New System Ventures, Looking Glass Capital, Leap Forward Ventures, Untapped Capital and RallyCap VC.
🔢 SigScalr, a Boston, MA-based data observability startup, raised $1.76 million in a pre-Seed funding round led by Scribble Ventures, with participation from WestWave Capital and Forward Slash Capital.
🫀 Reprieve Cardiovascular, a Milford, MA-based heart failure medical device company, raised $42 million in a Series A funding round co-led by Lightstone Ventures and Sante Ventures, with participation from Deerfield Management, Genesis Capital and Arboretum Ventures.
⛓️ Singularity, a Denver, CO-based provider of a compliant institutional DeFi access layer, raised $2.2 million in a funding round led by gumi Cryptos Capital, with participation from Laser Digital, Eureka Partners, Apollo Crypto, Digital Asset Capital Management and Gandel Invest, bringing the total amount raised to date to $4 million.
🧠 CLARA Analytics, a Santa Clara, CA-based AI as a service (AIaaS) provider, raised an undisclosed amount from Nationwide Ventures, bringing the total amount raised to date to $64 million.
🎙️ Blue Wire, a Los Angeles, CA-based media production and distribution company which allows independent podcasters to monetize their content, raised an undisclosed amount from Decathlon Capital Partners.
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🧠 Firsthand, a New York, NY-based company enabling brands and publishers to build and distribute AI agents, raised an undisclosed amount in a Seed funding round led by Radical Ventures, with participation from a number of individual investors.
🚣🏽 CrewLAB, a Marina Del Rey, CA-based provider of a sports team management platform for coaching and team retention, raised $1.6 million in a funding round led by an individual investor, with participation from Manning Ventures and existing angel investors.
🧮 Finpilot, a Seattle, WA-based provider of an AI copilot for finance professionals, raised $4 million in a Seed funding round led by Madrona, with participation from Ascend.vc and a number of angel investors.
🫀 ISHI Health, a San Diego, CA-based AI-powered virtual clinic specializing in heart failure and complex cardiac disease care, raised $4 million in a funding round led by Takeda Digital Ventures.
🏗️ Diamond Builders, a Douglas, GA-based manufacturer of prefabricated modular buildings, raised an undisclosed amount from LO3 Capital, with participation from Tamarix Equity Partners.
🏥 Healthly, a Los Angeles, CA-based company focusing on primary care, support services and preventative medicine, raised an undisclosed amount in a funding round from Corbel Capital Partners.
🏥 Xevant, a Lehi, UT-based provider of healthcare analytics and technology solutions, raised an undisclosed amoumnt in a follow-on investment from HCAP Partners and Tech Council Ventures.
🏥 University Medical Devices (UMD), an Omaha, NE-based medical device developer behind Microwash, raised $1.6 million in a Seed funding round led by Bright Minds Capital Partners, Invest Nebraska and a number of individual investors.
👶🏾 BridgeCare, a San Francisco, CA-based provider of a data and technology infrastructure platform for early care and education, raised $10 million in a funding round from Avenue Growth Partners.
🌎 AtmosZero, a Fort Collins, CO-based company focused on decarbonizing steam, raised $21 million in a Series A funding round co-led by Engine Ventures and 2150, with participation from Constellation Technology Ventures, Energy Impact Partners, Starlight Ventures and AENU.
🧲 Niron Magnetics, a Minneapolis, MN-based provider of rare earth-free permanent magnets, raised $25 million in a funding round led by Samsung Ventures, with participation from Allison Ventures, Magna, Shakopee Mdewakanton Sioux Community and University of Minnesota.
🫀 Cagent Vascular, a Wayne, PA-based commercial stage medical device company which has developed and commercialized a peripheral artery angioplasty balloon, raised $30 million in a Series C funding round led by U.S. Venture Partners, with participation from Blue Ridge Medical, Sectoral Asset Management and other investors.
📡 Kairos Aerospace, a Sunnyvale, CA-based high-frequency aerial methane detection company, raised $52 million in a Series D funding round led by funds and accounts managed by BlackRock, with participation from Hartree Partners, as well as existing investors DCVC, Climate Investment and Energy Innovation Capital.
🖥️ Highstreet IT Solutions, a Rockville, MD-based cloud-focused Oracle implementation and managed services provider, raised an undisclosed amount in a funding round from CIVC Partners, with participation from individual investors.
🏢 Divcon Controls, a Dallas, TX-based provider of building automation solutions, raised an undisclosed amount from Goldman Sachs Alternatives.
⛓️ Citrea, a Bitcoin-based zero-knowledge roll-up which helps grow Bitcoin's budding decentralized finance (DeFi) and NFT ecosystems, raised $2.7 million in a Seed funding round led by Galaxy, with participation from Delphi Ventures and a number of individual investors.
⛓️ Helius, a Solana-based developer platform, raised $9.5 million in a Series A funding round led by Foundation Capital, with participation from Reciprocal Ventures, 6th Man Ventures, Chapter One and Propel.
We’ll be back with February's remaining deals at the same time next week.
John
John Gannon // Venture5 Media // VC Deals
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