Pi Health Raises $30 mm on 3/14, Possibly Leaving $1.4 mm On The Table From Less Obvious Meme-Hungry VCs
John Gannon
Founder (Venture5 Media & V5 Summit, GoingVC) + Investor (Angel, LP, Syndicate Lead)
Welcome, dear reader!
Last week was busy with fundraising, particularly in Healthcare, Enterprise Software and Liquid Refreshment. Let’s dive right into the deal flow.
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):
The pie chart below displays the distribution of investment across different funding stages for the 56 of 88 U.S. deals where such details were provided.
??LAST WEEK’S MOST POPULAR LINK??
?? PreemptiveAI, a Washington, DC-based developer of AI models to interpret biomedical signals, raised $6.4 million in a funding round co-led by Inspired Capital and Meridian Street, with participation from Allen Institute, AI2 and Precursor Ventures.
?? M&A ??
??? Apple, a Cupertino, CA-based publicly traded global electronics manufacturer, acquired DarwinAI, a Waterloo, ON-based visual quality inspection company which had raised over $15 million from Deep Tech Venture Fund, Honeywell Ventures, Obvious Ventures and Inovia Capital, for an undisclosed amount.
?? Zscaler, a San Jose, CA-based publicly traded cloud transformation cybersecurity company, acquired Avalor, a Tel Aviv, Israel-based security data startup which had raised $30 million from TCV, Salesforce Ventures, Cyberstarts, Jibe Ventures and individual investors, for $350 million.
?? Wiz, a New York, NY-based cloud security firm which most recently raised $300 million at a $10.3 billion valuation in a Series D round co-led by Lightspeed and Greenoaks Capital, acquired Gem Security, a Tel Aviv, Israel-based cloud detection and response startup which had raised $34 million from GGV Capital, Team8, IBM Ventures and Silicon Valley CISO Investments, for $350 million in cash.
?? Zendesk, a San Francisco, CA-based customer experience software platform, acquired Ultimate, a Berlin, Germany-based customer support automation startup which had raised $27 million from OMERS Ventures, Maki.vc and other investors, for an undisclosed amount.
?? Spring Health, a New York, NY-based behavioral health provider focused on employee mental wellbeing solutions which has raised over $370 million from Tiger Global, Northzone, RRE Ventures, Rethink Impact, Work-Bench, SemperVirens, Able Partners, True Capital Ventures and other investors, most recently at a $2.5 billion valuation, acquired therapy tools and digital content of Bloom, a New York, NY-based cognitive behavioral self-therapy startup which had raised over $10 million from Target Global, Elysian Park Ventures, AngelPad, Sequoia Scout and other investors, for an undisclosed amount.
?? AstraZeneca, a Cambridge, U.K.-based publicly traded global pharmaceutical company, acquired Amolyt Pharma, an Ecully, France-based developer of therapeutic peptides for rare endocrine diseases which had raised ~$300 million from Sofinnova Partners, ICG, Tekla Capital Investment, CTI Life Sciences, Andera Partners, Novo Holdings, Kurma Partners, EQT Life Sciences, Innobio, Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation and Turenne Capital, for $1.05 billion in cash.
?? Journey, a New York, NY-based employee-focused mental health company which has raised $6 million from Canaan, Courtside Ventures, Betaworks, BDMI, HealthTech Capital and others, acquired Felt, a New York, NY-based startup matching individuals with therapists using artificial intelligence which had raised $3.5 million from Listen Ventures and other investors, for an undisclosed amount.
?? BetterCloud, a New York, NY-based SaaS management platform provider which has raised over $186 million from Accel, Bain Capital Ventures, Warburg Pincus and other investors, acquired the G2 Track SaaS management and optimization platform from G2, a Chicago, IL-based software marketplace, for an undisclosed amount.
?? SOURCING IDEAS ??
Companies that had raises reported ~1 year ago, on or around Mar 17, 2023
?? Shennon Biotechnologies, a San Francisco, CA-based immunotherapies startup, raised $13 million in a Seed funding round led by DCVC, with participation from AV8 and Foundation Capital.
?? Droplet Biosciences, a Cambridge, MA-based lymph liquid biopsy diagnostics startup, raised $8 million in a Seed funding round led by The Engine.
?? Allermi, a San Francisco, CA-based DTC allergy telehealth startup, raised $3.5 million in a Seed funding round led by Nelstone Ventures, with participation from FourSight Capital Partners.
?? VC DEALS ??
? Pienso, an Arlington, VA-based no-code interactive AI platform for turning text data into insights, raised $10 million in a Series A funding round led by Latimer Ventures, with participation from Gideon Capital, SRI, Uncork and Good Growth Capital.
?? Pi Health, a Cambridge, MA-based health technology and clinical research company focused on innovative medicines and clinical trials in oncology, raised over $30 million in a Series A funding round led by AlleyCorp and Obvious Ventures, with participation from Invus Capital and other investors.
?? WarpStream, a Chicago, IL-based cloud native data streaming infrastructure company, raised $20 million in a funding round co-led by Greylock and Amplify Partners, with participation from individual investors.
?? X-Therma, a Hercules, CA-based biological product storage company, raised $22.4 million in a Series B funding round from Starling Locke Capital and LOREA AG.
?? SquareDash, a Fort Worth, TX-based provider of a payment advance platform for roofers, raised an undisclosed amount in a funding round led by Fintop Capital, with participation from Hivers and Strivers, The PenFed Foundation, i2BF Global, The Hustle Fund, The Council and other investors, bringing the total amount raised to date to over $20 million.
?? Zephyr AI, a Tysons Corner, VA-based precision medicine startup, raised $111 million in a Series A funding round from Revolution Growth, Eli Lilly, EPIQ Capital Group and individual investors.
? Youverify, a San Francisco, CA-based verification and AML startup, raised $2.5 million in a funding round from Elm.
?? 9 Lives Interactive, a Singapore-based gaming studio, raised $3 million in a funding round led by Mechanism Capital, with participation from Sfermion, 3Commas Capital, Momentum 6, Kosmos Ventures, Devmons GG and CSP DAO.
?? Murphy's Naturals, a Raleigh, NC-based insect repellent maker, raised $8 million in a Series B funding round led by Point King Capital, with participation from Emil Capital Partners and individual investors.
?? Fermat, a San Francisco, CA-based retail customer journey optimization platform, raised $17 million in a Series A funding round led by Bain Capital Ventures, with participation from Greylock, QED Investors and Courtside Ventures.
?? Siolta Therapeutics, a San Carlos, CA-based clinical-stage biotech company focused on atopic diseases in newborns, raised $12 million in a Series C funding round co-led by SymBiosis and Khosla Ventures, with participation from Time Ventures, Seventure, Global Brain and other investors.
?? Goodshuffle, Washington, DC-based event rental industry software company, raised $5 million in a Series A funding round led by FINTOP Capital.
?? Proscia, a Philadelphia, PA-based provider of digital pathology software, raised $9 million in a Series C extension funding round co-led by Highline Capital Management and Triangle Peak Partners, with participation from Alpha Intelligence Capital, Scale Venture Partners, Hitachi Ventures and other investors, bringing the total amount raised in the round to $46 million.
?? Balancy, a Limassol, Cyprus-based LiveOps platform for gaming, raised $700k in a funding round from individual investors.
?? Nozomi Networks, a San Francisco, CA-based provider of IoT and OT cybersecurity solutions, raised $100 million in a Series E funding round from Mitsubishi Electric and Schneider Electric.
?? Applied Intuition, a Mountain View, CA-based supplier of software solutions to develop, test and deploy autonomous vehicle systems at scale, raised $250 million at a $6 billion valuation in a Series E funding round led by Lux Capital and Porsche Investments Management, with participation from Andreessen Horowitz, General Catalyst, BOND, Human Capital and individual investors.
?? Empathy, a New York, NY-based support platform for employees and life insurance beneficiaries who've lost loved ones, raised $47 million in a Series B funding round led by Index Ventures, with participation from General Catalyst, Entrée Capital, Latitude, Brewer Lane, Allianz, MassMutual Ventures, MetLife, New York Life Ventures, Securian Financial and Sumitomo.
?? Quaise Energy, a Cambridge, MA-based terawatt-scale geothermal company, raised $21 million in a Series A1 funding round co-led by Prelude Ventures and Safar Partners, with participation from Mitsubishi Corporation and Standard Investments, bringing the total amount raised to date to $95 million.
?? Axion Ray, a New York, NY-based AI observability command center, raised $17.5 million at a $100 million valuation in a Series A funding round led by Bessemer Venture Partners, with participation from RTX Ventures, Amplo and Inspired Capital, bringing the total amount raised to date to $25 million.
?? Elixir, a New York, NY-based modular network project, raised $8 million at an $800 million valuation in a Series B funding round co-led by Mysten Labs and Maelstrom.
?? Tavus, a San Francisco, CA-based generative AI video research startup, raised $18 million in a Series A funding round led by Scale Venture Partners, with participation from Sequoia Capital, YC and HubSpot.
?? Studio369, a Chicago, IL-based Web3 gaming studio, raised $5 million in a funding round from Bitkraft Ventures, Delphi Digital, Sanctor Capital, SpartanGroup, King River Digital Assets, Arrington Capital, Amber, Auros, Zeneca, Grail, Spirit Dao, LiquidX, Aggero, FatCats, Sonic Boom Ventures, Rarestone, Cypher Capital, Cogitant Ventures, EllioTrades and Citizen Capital.
?? Prescient AI, a Miami, FL-based AI-powered marketing mix modeling solution for omni-channel brands, raised $10 million in a Series A funding round co-led by Headline and CEAS Investments, with participation from Blumberg Capital and Focal VC.
?? Kaedim, a San Francisco, CA-based provider of 3D content creation solutions for game developers, raised $15 million in a Series A funding round led by A16Z GAMES, with participation from Pioneer Fund and individual investors.
?? Tierra Biosciences, a San Leandro, CA-based proteins development platform, raised $11.4 million in a Series A funding round led by Material Impact, with participation from Prosus Ventures, In-Q-Tel (IQT), Hillspire, Freeflow Ventures, Creative Ventures and Social Capital.
?? Foundation Health, a San Francisco, CA-based provider of pharmacy and telehealth APIs, raised $6 million in a Seed funding round from Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, PageOne Ventures and individual investors.
?? Nest Health, a New Orleans, LA-based Value-Based Care (VBC) family health provider, raised $4 million in a Seed funding round led by SpringTide, with participation from Alumni Ventures and Ochsner Ventures.
?? Blockus, a San Francisco, CA-based Web3 gaming ecosystem, raised $4 million in a pre-Seed funding round led by Maple VC, with participation from Altos Ventures and individual investors.
?? CodaMetrix, a Boston, MA-based health care billing tech provider, raised $40 million in a Series B funding round led by Transformation Capital, with participation from SignalFire and Frist Cressey Ventures.
?? Milu Health, a New York, NY-based company that uses AI to drive cost savings in healthcare for employees and employers, raised $4.8 million in a Seed funding round led by Andreessen Horowitz (a16z) Bio + Health, with participation from BoxGroup, PagsGroup, 81 Collection and other investors.
?? DocNow, a Bellevue, WA-based provider of Electronic Health Records (EHR) and wound care management solutions for post-acute care providers, raised $2.5 million in a Seed funding round led by Waterline Ventures.
?? HiLabs, a Bethesda, MD-based startup refining healthcare data, raised $39 million in a Series B funding round co-led by Eight Roads and Denali Growth Partners, with participation from F-Prime Capital.
?? Assort Health, a San Francisco, CA-based developer of conversational AI for call centers, raised $3.5 million in a Seed funding round led by Quiet Capital, with participation from Four Acres Capital, Pioneer Fund, Strategic Waterfall Partners and Tau Ventures.
?? Betr, a Miami, FL-based sports gaming company, raised $15 million at a $375 million valuation in a funding round co-led by Harmony Partners and 10x Capital, with participation from Fuel Venture Capital, Aliya Capital Partners, Eberg Capital and other investors, bringing the total amount raised to date to $100 million.
?? Another Tomorrow, a New York, NY-based sustainable luxury fashion platform, raised $2 million in a funding round from Una Terra.
?? Neuron7.ai, a San Jose, CA-based provider of customer and field service software, raised an undisclosed amount in a funding round from ServiceNow Ventures.
?? Ocient, a Chicago, IL-based data analytics software company, raised $49.4 million in a funding round co-led by Greycroft and OCA Ventures, with participation from Buoyant Ventures, Levy Family Partners, Riverwalk Capital, Wolf Capital Management and other investors.
?? UG Labs, a Tel Aviv, Israel-based generative AI-powered interactive engine for kids, raised $7 million in a funding round led by Amiti Ventures and MoreVC, with participation from Mediatek and individual investors.
领英推荐
?? Liquid Death, a Santa Monica, CA-based canned water company, raised $67 million at a $1.4 billion valuation in a funding round led by SuRo Capital, with participation from Live Nation, Science and Gray's Creek Capital Partners.
?? Bear Robotics, a Redwood City, CA-based maker of robotic waiters, raised $60 million in a funding round from LG Electronics.
?? Luminary Cloud, a San Mateo, CA-based real-time engineering SaaS platform, raised $115 million in a funding round led by Sutter Hill Ventures.
?? Together AI, a Menlo Park, CA-based Nvidia chip reseller and trainer, raised $106 million at a $1.25 billion valuation in a funding round led by Salesforce Ventures, with participation from Coatue, Lux Capital, Kleiner Perkins, Emergence Capital, Prosperity7 Ventures, NEA, Greycroft, Definition Capital, Long Journey Ventures, Factory, SV Angel and individual investors.
? Unstructured, a San Francisco, CA-based provider of LLM data preprocessing solutions, raised $40 million in a Series B funding round led by Menlo Ventures, with participation from Databricks Ventures, IBM Ventures, NVentures, Madrona, Bain Capital Ventures, Mango Capital and individual investors.
?? DraftWise, a New York, NY-based contract and negotiation platform for lawyers, raised $20 million in a Series A funding round led by Index Ventures, with participation from YC and Earlybird Digital East Ventures.
?? Lily AI, a Mountain View, CA-based retail technology platform specializing in AI solutions for retailers and brands, raised $20 million in a Series B funding round led by Conductive Ventures, with participation from Counterpart Ventures, Cendana Capital, Transform Capital, Sorenson Capital and NEA.
?? Furno, a Mountain View, CA-based cement decarbonization startup, raised $6.5 million in a Seed funding round led by Energy Capital Ventures, with participation from O'Shaughnessy Ventures, Cantos and Neotribe.
?? The New Club, a San Francisco, CA-based network of female technologists, raised $3.1 million in a funding round co-led by Sierra Ventures and Afore Capital, with participation from Operator Collective, Precursor Ventures, Dragonfly Capital and Stanford GSB's 2021 Fund.
?? CarbonCapture, a Los Angeles, CA-based direct air capture startup, raised $80 million in a Series A funding round led by Prime Movers Lab, with participation from Aramco Ventures, Amazon's Climate Pledge Fund, Siemens Financial Services, Idealab X and TIME Ventures.
?? Vouch, a San Francisco, CA-based business insurer for startups, raised $25 million in a Series C-1 funding round led by Ribbit Capital.
?? DBOS, a Cambridge, MA-based database startup for cloud-native applications, raised $8.5 million in a Seed funding round led by Engine Ventures, with participation from Construct Capital, Sinewave and GutBrain Ventures.
?? Cache, a San Francisco, CA-based brokerage for large stock positions, raised $8.5 million in a Seed funding round co-led by First Round Capital and Quiet Capital.
?? Big Sur AI, a Mountain View, CA-based e-commerce AI platform, raised $6.9 million in a Seed funding round led by Lightspeed, with participation from Capital F.
?? Telo, a San Carlos, CA-based maker of electric pickup trucks, raised $5.4 million in a funding round from Neo and Spero Ventures.
? OpenMeter, a San Francisco, CA-based provider of usage metering for AI, DevOps, billing and analytics, raised $3 million in a funding round from Y Combinator, Haystack and Sunflower Capital.
?? Synch, a New York, NY-based go-to-market tool for sales teams, raised $3 million in a Seed funding round co-led by AltCap and Haystack.
?? Nanonets, a San Francisco, CA-based AI-powered document processing automation platform, raised $29 million in a Series B funding round led by Accel India, with participation from Elevation Capital and YC.
?? Loop, a San Francisco, CA-based provider of restaurant delivery software, raised $6 million in a Seed funding round led by Base10 Partners, with participation from Afore Capital.
?? Umaro Foods, a San Francisco, CA-based developer of seaweed-based bacon, raised $3.8 million in a funding round from Alexandria Ventures Investments, Climate Capital Bio, Ponderosa Ventures and individual investors.
?? Key, a Palo Alto, CA-based social network for tech workers, raised $4.3 million in a funding round led by Felicis, with participation from Liquid 2 Ventures, Alumni Ventures, Archangels Ventures, Cerigo Investments, Everywhere Ventures, Startup Shibuya, MVP Ventures, Xoogler Ventures and individual investors.
?? InDrive, a Mountain View, CA-based mobility and urban services platform, raised $150 million in a funding round from General Catalyst.
??? Sealed, a New York, NY-based residential energy efficiency startup, raised $30 million in a funding round led by Keyframe Capital, with participation from Cyrus Capital, CityRock and Fifth Wall.
?? Omni, a San Francisco, CA-based business intelligence platform, raised $20 million in a funding round led by Theory Ventures.
?? Work & Mother, a Houston, TX-based provider of lactation suite amenities for commercial office buildings, raised $3.5 million in a Seed funding round led by Building Ventures.
?? Allium Engineering, a Somerville, MA-based infrastructure steel rebar producer, raised $3.3 million in a Seed funding round from Propeller, Aera VC, Greatwave Ventures and Anthropocene Ventures.
?? Kuehnle AgroSystems, a Honolulu, HI-based microalgae and botanicals producer, raised $3 million in a funding round led by S2G Ventures.
?? Moxey, a New Orleans, LA-based trading network for local businesses, raised $1 million in a funding round led by SpringTime Ventures, with participation from Clocktower Ventures and Service Provider Capital.
?? Jukebox Health, a New York, NY-based provider of clinical home modifications, raised an undisclosed amount in a funding round from Home Depot Ventures.
?? Polyhedra Network, a San Francisco, CA-based developer of a zero-knowledge interoperability protocol, raised $20 million at a $1 billion valuation in a funding round led by Polychain Capital, with participation from Animoca Brands, Hashkey Capital, Longhash Ventures, Emirates Consortium and Mapleblock Capital.
?? Eyris, a McLean, VA-based developer of blockchain-based ransomware security, raised $3 million in a pre-Seed funding round from Red Cell Partners.
?? Elixir, a New York, NY-based DeFi network maker aimed at boosting liquidity, raised $8 million at an $800 million valuation in a Series B funding round co-led by Mysten Labs and Maelstrom, with participation from Manifold, Amber Group, GSR and Flowdesk.
?? NFTfi, a Cape Town, South Africa-based NFT lending protocol, raised $6 million in a Series A1 funding round led by Placeholder VC, with participation from Maven 11, Launch Labs Inc, Kahuna Ventures, Brevan Howard, The LAO, Reciprocal, a_capital Ventures, Hash, Bloccelerate, Cypher Capital and Longhash Ventures.
?? Eclipse Labs, a San Francisco, CA-based Ethereum Layer 2 developer, raised $50 million in a Series A funding round co-led by Placeholder VC and Hack VC, with participation from Polychain Capital, Delphi Digital, Maven 11, DBA and Fenbushi Capital.
?? Fluent Metal, a Cambridge, MA-based company developing liquid metal printing technology, raised $3.2 million in a funding round led by E15, with participation from Pillar VC, bringing the total amount raised to date to $5.5 million.
???? Redcoat AI, a San Francisco, CA-based AI-native cybersecurity platform, raised $4.24 million in a funding round led by Pear VC, with participation from Leonis Capital, Sancus Ventures, Kyber Knight and other investors.
???? Paylode, a Miami, FL-based company that provides, manages and monetizes perks programs for customers, raised $5.5 million in a Seed funding round from Susa Ventures, Vinyl Capital, Struck Capital, Day One Ventures and other investors.
?? mmERCH, a New York, NY-based blockchain-enabled fashion startup, raised $6.4 million at a $25.7 million post-money valuation in a Seed funding round led by Liberty City Ventures, with participation from 6529 Holdings, Christie’s Ventures, Flamingo DAO and individual investors.
?? Clique, a San Francisco, CA-based infrastructure company empowering data computing for blockchains, raised $8 million in a Series A funding round led by Polychain Capital, with participation from Bankless, Robot Ventures and individual investors.
?? Quintessent, a Santa Barbara, CA-based heterogeneous silicon photonics and quantum dot laser technology company, raised over $11.5 million in a Seed funding round led by Osage University Partners (OUP), with participation from M Ventures, Sierra Ventures, Foothill Ventures and Entrada Ventures.
?? Pure Lithium, a Charlestown, MA-based lithium battery company, raised $15 million in a Series A funding round from Oxy Low Carbon Ventures.
?? Skedda, a Boston, MA-based global space management and scheduling platform for the hybrid work environment, received an undisclosed amount of financing from CIBC Innovation Banking.
??? Interlune, a Seattle, WA-based company harvesting natural resources from space, raised $18 million in a Seed funding round led by Seven Seven Six, with participation from Aurelia Foundry Fund, Gaingels, Liquid 2 Ventures, Shasta Ventures and individual investors.
?? Global Telecom Engineering, a Newport Beach, CA-based hardware and software engineering company for the wireless industry, raised an undisclosed amount in a funding round led by Stormbreaker Ventures, with participation from Thermo Companies.
?? CQL, a Grand Rapids, MI-based digital commerce agency, raised an undisclosed amount in a funding round from Superstep Capital.
?? PowerGEM, a Clifton Park, NY-based provider of simulation modeling software and technical services for the electric power industry, raised an undisclosed amount in a funding round from TA Associates.
?? WealthFeed, a New York, NY-based AI-driven lead generation tool for financial advisors, raised $2 million in a funding round led by Thicket Ventures, with participation from individual investors.
???? Legends, a San Francisco, CA-based provider of a confidence-training platform for kids, raised $6 million in a Seed funding round led by Floodgate, Reach Capital and individual investors.
? RapidCanvas, an Austin, TX-based platform for business users to build AI solutions, raised $7.5 million in a Seed funding round led by Accel, with participation from Valley Capital Partners.
? Adaptive ML, a Paris, France- and New York, NY-based platform that enables companies to test, serve, monitor and perpetually iterate on their LLMs, raised $20 million in a Seed funding round led by Index Ventures, with participation from ICONIQ Capital, Motier Ventures, Databricks Ventures, IRIS, HuggingFund by Factorial and individual investors.
?? RealSeq Biosciences, a Santa Cruz, CA-based biotechnology company focused on RNA-based diagnostics, raised an undisclosed amount in an extension Seed funding round led by Charleston Angel Partners, Santa Clara Ventures and Santa Cruz Ventures, with participation from existing investors.
?? Bluwhale, a San Francisco, CA-based Web3 decentralized personalization protocol startup powered by AI and contextual data, raised $7 million in a Seed funding round led by SBI Ven Capital, with participation from Cardano, Momentum6, Primal Capital, NxGen, Ghaf Capital Partners, Spyre Capital, Baselayer Capital and individual investors.
???? Serenity Kids, an Austin, TX-based shelf-stable pouched baby food brand, raised $52 million in a funding round from Stride Consumer Partners.
?? LactaLogics, a Port St. Lucie, FL-based company which specializes in human milk-based baby nutrition, raised $92 million in a funding round from a USDA Food Safety Loan supported by Magnolia Bank, U.S. Department of Energy CPACE Loan underwritten by Pace Equity and private investors.
We'll see you again next Monday morning with the M&A and Fundraising news from the upcoming 7 days.
John
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