Innovation

SmarterDx: AI-Based Hospital Revenue Integrity And Quality Company Raises $50 Million

By Amit Chowdhry ● May 27, 2024

SmarterDx, a leader in clinical AI for revenue integrity and care quality, announced it has secured $50 million in Series B funding led by Transformation Capital. This funding round also includes continued investments from Bessemer Venture Partners, Flare Capital Partners, and Floodgate Fund, bringing the total funding to date to $71 million. This investment will drive product innovation that will create additional value for health systems and support scale as the company expands.

Radar Therapeutics: $13.4 Million Secured To Develop Smart Programmable Medicines

By Amit Chowdhry ● May 26, 2024

Radar Therapeutics, a biotech company developing smart programmable medicines, announced the completion of an oversubscribed $13.4 million in seed financing led by NfX Bio. Major investors Eli Lilly and Company, Biovision Ventures, and KdT Ventures also joined the round, with participation from PearVC, BEVC, and other investors. The funding will support the advancement of Radar’s internal programs, team expansion, and partnering.

Honey Homes: Upkeep And Maintenance Company Raises $9.25 Million

By Amit Chowdhry ● May 26, 2024

Honey Homes, a membership service delivering complete home upkeep and maintenance, announced it has raised $9.25 million in Series A-1 funding led by Era Ventures with participation by previous investors Khosla Ventures and Pear VC.

CoLab Software: $21 Million Raised To Build Collaboration Solutions For Mechanical Engineering

By Amit Chowdhry ● May 26, 2024

CoLab Software, a company building collaboration solutions for mechanical engineering and hardware development teams, announced its fully subscribed Series B round with $21 million in funding. Insight Partners led the round, which included participation from existing major investors Y Combinator, Killick Capital, and Pelorus VC.

Vercel: AI-Based Frontend Cloud Platform Company Raises $250 Million At $3.25 Billion Valuation

By Amit Chowdhry ● May 26, 2024

Vercel, a leading Frontend Cloud platform, announced that it has secured $250 million in Series E funding at a valuation of $3.25 billion. This funding round was spearheaded by existing investor Accel, with participation from other existing investors including CRV, GV, Notable Capital (previously GGV Capital), Bedrock, Geodesic Capital, Tiger Global, 8VC, and SV Angel.

Malted AI: Scotland-Based Company Secures £6 Million To Simplify Output Of Large Models

By Amit Chowdhry ● May 26, 2024

Malted AI, a Scotland-based AI firm helping enterprises to build smaller, more focused AI models with greater performance at a fraction of the cost, announced that it has secured £6 million in seed investment, led by Hoxton Ventures and joined by Creator Fund and angel investors.

CBiGroup: Financial Services Company Raises $15 Million

By Amit Chowdhry ● May 26, 2024

CBiGroup, a fintech group based in the U.S., announced it has secured $15 million in Series A funding. Alpol Capital Family Office, known for its investments in new technologies, led the funding round.

Classic Football Shirts: $38.5 Million In Growth Equity Raised From The Chernin Group

By Amit Chowdhry ● May 26, 2024

Classic Football Shirts (a global hub to buy authentic soccer shirts) and The Chernin Group (TCG), a multi-stage investment firm known for building and growing consumer businesses, announced an investment from TCG that will fuel aggressive and immediate global expansion plans. Focused on North America, one of the brand’s fastest-growing markets representing just 15% of the overall business today, TCG’s investment highlights the market opportunity linked to the rising global interest in football (soccer) culture.

Leya: $10.5 Million Raised To Transform Legal Work

By Amit Chowdhry ● May 26, 2024

Stockholm-based Leya has announced the successful closing of its $10.5 million seed funding round, which was led by Benchmark and participated in by Hummingbird, SV Angel, and Y Combinator.

c/side: $1.7 Million Raised To Secure Browsers Against Zero-Day Attacks

By Amit Chowdhry ● May 26, 2024

c/side, a cybersecurity company with tools for monitoring, optimizing, and securing vulnerable browser-side third-party scripts, has emerged from stealth with $1.7 million in funding. This pre-seed funding round was led by Scribble Ventures, with strategic individual investors including Roar Ventures, Kathy Korevec, Dan Scheinman, Jason Warner, Mike Taylor, Kevin Van Gundy, Zain Rizavi, Daniel Lopez, Dan Smith, and Nick Gianos.

Watershed Health: $13.6 Million Raised To Drive Patient Care Coordination Across The Healthcare Ecosystem

By Amit Chowdhry ● May 26, 2024

Watershed Health, a company driving patient care coordination across the healthcare ecosystem to reduce costs, enhance quality of care and improve patient outcomes, announced the completion of a $13.6 million funding round led by an investment from First Trust Capital Partners with participation from FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners and Wanxiang Healthcare Investments.

Lumos: $35 Million Closed To Centralize App And Identity Management

By Amit Chowdhry ● May 26, 2024

Lumos, a software company that centralizes the management of apps and identities for IT and security teams, recently announced a $35 million Series B financing led by Scale Venture Partners and with participation from Andreessen Horowitz, Harpoon Ventures, Neo, and others.

CinDome Pharma: $40 Million Raised To Advance A Safe Chronic Therapy For Gastroparesis

By Amit Chowdhry ● May 26, 2024

CinDome Pharma (a CinRx portfolio company dedicated to advancing a safe chronic therapy for gastroparesis) announced a $40 million Series B funding extension. The additional funds from existing investors, including Perceptive Advisors and CinRx Pharma, bring the Series B raise total to $59 million.

Bedrock Materials: Battery Technology Company Raises $9 Million

By Amit Chowdhry ● May 24, 2024

Bedrock Materials, a rapidly growing battery technology startup launched out of Stanford University last year, announced a closing of $9 million in seed funding along with the inauguration of its new R&D headquarters in Chicago, Illinois.

Fay: $25 Million Closed To Connect People With Registered Dietitian Nutritionists

By Amit Chowdhry ● May 24, 2024

Fay is a company that connects people with registered dietitian nutritionists. They deliver personalized nutrition counseling to change the way we think and feel about food, and all of the care is covered by insurance.

Angel AI: $4.5 Million Secured To Provide Age-Appropriate Internet Experiences For Children

By Amit Chowdhry ● May 24, 2024

Angel AI, a parent-designed AI platform offering an age-appropriate internet experience for children aged 5 to 12 years old, announced it has raised a $4.75 million seed funding round led by Cortical Ventures with significant participation from Village Global and several other renowned angel investors.

Metropolis Technologies: AI-Based Checkout-Free Payment Company Raises $1.8 Billion

By Amit Chowdhry ● May 24, 2024

Metropolis Technologies, an AI-based company whose platform enables checkout-free payment experiences, announced that it has closed its acquisition of SP Plus Corporation (SP+). SP+ is the largest parking network and provider of mobility services for aviation, commercial, hospitality, and institutional clients in North America.

PolyAI: Voice Assistant Builder Company Raises $50 Million

By Amit Chowdhry ● May 24, 2024

PolyAI, a global provider of enterprise voice assistants, announced it has raised $50 million in a Series C round of funding. The funding round was backed by new investors Hedosophia, Nvidia's NVentures, and Zendesk, with follow-on investments from Khosla Ventures, Georgian, Point72 Ventures, Sands Capital, and Passion Capital.

Aeropay: Pay-By-Bank Solutions Company Raises $20 Million

By Amit Chowdhry ● May 24, 2024

Aeropay, a provider of Pay-By-Bank solutions for businesses, announced $20 million in Series B funding. Fintech venture capital firm Group 11 led the round, which also included Chicago Ventures and Continental Investment Partners.

PosiGen Receives $150 Million Funding Commitment From Brookfield Asset Management

By Amit Chowdhry ● May 24, 2024

PosiGen, one of the nation's leading providers of renewable energy and energy efficiency solutions for underserved communities and a certified Public Benefits Corporation (PBC), announced that a direct lending infrastructure fund managed by Brookfield Asset Management (Brookfield) has expanded upon its funding commitment with an additional $150 million investment.

PayHOA: HOA Management Software Company Secures $27.5 Million

By Amit Chowdhry ● May 24, 2024

PayHOA, an all-in-one homeowner’s association (HOA) management software company, announced that it raised a $27.5 million Series A financing round, led by venture capital firm Elephant. And PayHOA unveiled its new Payables module, which expands the platform’s capabilities and streamlines financial management for self-managed HOAs and property managers.

XGEN Venture: €160 Million Life Science Fund Closed

By Amit Chowdhry ● May 24, 2024

Newly formed venture capital firm XGEN Venture announced its first fund, XGEN Venture Life Science Fund, with €160 million in commitments. With this fund, XGEN Venture will be working along with talented scientists and entrepreneurs to create and invest in up to 15 companies, delivering impactful solutions to patients through new therapeutics, medical devices, diagnostics and digital health solutions. While taking a macro view of scientific innovation, a large portion of XGEN-backed companies will be formed from technologies that originated in Italian research institutes.

Agora: Real Estate Investment Management Company Raises $34 Million

By Amit Chowdhry ● May 24, 2024

Agora

Easy Metrics: $31 Million Closed To Advance Warehouse And Manufacturer Labor Analytics Platform

By Amit Chowdhry ● May 23, 2024

Easy Metrics, a leading labor analytics platform for warehouses and manufacturers, announced it has received a $31 million investment from Nexa Equity. This funding round will accelerate product development, expand organizational capacity, and pursue strategic acquisitions.

Atropos Health: $33 Million Raised To Translate Real-World Clinical Data Into Personalized Real-World Evidence For Care

By Amit Chowdhry ● May 23, 2024

Today Atropos Health, a company that translates real-world clinical data into high-quality personalized and real-world evidence for care, announced a $33 million Series B funding round. This funding round was led by Valtruis, with participation from new strategic investors, including McKesson Ventures, Touchdown VC, Sanofi Ventures, and Merck GHI Fund, along with existing investors Breyer Capital, Emerson Collective, and Presidio Ventures.

Elevate K-12 Raises $25 Million In Growth Capital From Trinity Capital

By Amit Chowdhry ● May 23, 2024

Diversified financial solutions company Trinity Capital announced it has committed $25 million in growth capital to Elevate K-12, which is a Chicago-based company that provides high-quality synchronous LIVE teaching for K-12 classrooms in the US.

Peterson Partners: $265 Million Closed For Tenth Private Equity Fund

By Amit Chowdhry ● May 23, 2024

Peterson Partners revealed that its private equity business, Peterson Private Equity, has closed $265 million in Fund X. Fund X is focused on investing $10 million to $25 million in entrepreneurs and management teams in profitable and growth-oriented companies.

Gorgias: Customer Experience Company Raises $29 Million

By Amit Chowdhry ● May 23, 2024

Gorgias, a leading customer experience (CX) platform trusted by over 15,000 e-commerce brands, announced $29 million in Series C-2 funding from existing investors. The new funding round was led by SaaStr and Alven, with participation from Horsley Bridge, Amplify, Shopify, Sapphire, CRV, and Transpose Platform. Sunil Dhaliwal from Amplify has also been added as a Board observer.

Hydrolix: Streaming Data Lake Platform Company Raises $35 Million

By Amit Chowdhry ● May 23, 2024

Hydrolix, a streaming data lake platform that is transforming the economics of big data, announced it has closed a $35 million Series B funding round led by S3 Ventures. Prior investors like Nava Ventures, Wing Ventures, AV8 Ventures and Oregon Venture Fund also participated in this round, which brings the company's total funding to date to $68 million.

Polymarket: Prediction Market Company Raises $70 Million

By Amit Chowdhry ● May 22, 2024

Prediction market company Polymarket announced that it has raised $70 million of funding across two unannounced rounds: a $45 million Series B led by Founders Fund and existing investors 1confirmation and ParaFi, with participation from Ethereum founder Vitalik Buterin, Dragonfly and Eventbrite’s co-founder Kevin Hartz, and a $25 million Series A led by General Catalyst, with participation from Airbnb’s Joe Gebbia, Polychain and other leading investors.