February was the month of massive rounds. Companies had to raise at least $170 million to make it to the bottom of our list of the largest U.S. enterprise financing deals. Of course, the largest deal was really big – $1.5 billion. But there have been loads of other good deals too, so let’s get to them.
1. Epic games$1.5 billion, games: Epic Games is no stranger to this list. The gaming giant raised big in 2022 when it took home $2 billion Sony AND KIRKBY — the family holding and investment company behind it LEGO Group — at a valuation of $31.5 billion. The topic is back after the North Carolina-based company raised one other $1.5 billion last month through a latest partnership with Disney to help bring greater exposure to the company’s characters and properties – including Marvel Comics characters. However, this round brought a drastic drop in valuation reported Disney invested $22.5 billion. Founded in 1991, the Fortnite creator has raised nearly $8 billion to date Crunchbase data.
2. Partners in radiology$720 million, health care: El Segundo, California-based radiology services company Radiology Partners has been busy last month compiling a huge list of transactions involving existing notes and outstanding loans. However, as a part of these moves, it also closed on a growth equity investment of roughly $720 million from existing and latest investors – who weren’t named. Founded in 2012, the company has raised $1.9 billion (*10*)on Crunchbase.
3. Character$675 million, artificial intelligence: Data from Sunnyvale, California last week confirmed earlier reports that it raised a massive $675 million round at a $2.6 billion valuation. Well-known investors in the round include: Jeff Bezos‘ Browse investments AND Nvidia, among others. The company is developing artificial intelligence robots that it hopes will have the option to perform hazardous jobs and ease labor shortages. Founded in 2022, the company has raised $754 million, on Crunchbase.
4. lambda$320 million, artificial intelligence: Lambda achieved unicorn status after a $320 million Series C at a $1.5 billion valuation. The company offers cloud computing services and artificial intelligence software training equipment. The startup is a supplier Nvidiathe company’s latest graphics processors, which are highly sought after by artificial intelligence developers. He led the round Thomas Tull‘S American Fund for Innovative Technologies. The San Jose, California-based startup’s client list includes Microsoft AND Amazon. According to Crunchbase, the round is the largest by an artificial intelligence startup this yr data. Overall, the sector appears to be recovering after a slow start to the yr, with AI startups now raking in over $3 billion for the current calendar yr.
5. FreeUSD 254 million, biotechnology: This is just one of many big raises in the biotech industry this month. Blood test maker Freenome raised $254 million led by the drugmaker Roche. The South San Francisco-based startup is developing tests that have the potential to detect many cancers at an early stage – currently focusing on colorectal and lung cancer. Founded in 2014, the company has raised $1.4 billion, on Crunchbase.
6. Five music$250 million, music: It’s weird to say that a $250 million funding round could slip through the cracks, but it could occur in this one. Cinq Music is a Los Angeles-based independent record label and subsidiary GoDigital media group, blocked $250 million in funds to purchase music rights. The company plans to use the funds to grow its diverse catalog, which incorporates reggaeton, Música Mexicana, Afrobeat and country genres. Since 2017, Cinq has previously raised $160 million for the company.
7. PigeonUSD 246 million, energy: Hydrogen and its potential as a clean energy source are of great interest to investors. Last month, Koloma, which extracts naturally occurring hydrogen from underground deposits, received a massive $245.7 million round led by Khosla ventures. The Denver-based company was previously backed by Bill Gates‘ Groundbreaking energy projects. Founded in 2014, the company has raised over $336 million on Crunchbase.
8. Fervo EnergyUSD 244 million, energy: It’s no surprise that a big round of energy comes from Texas. Houston-based geothermal energy developer Fervo Energy has closed a major $244 million round led by shale oil and gas company Devon Energy Corp. The latest funds will support Fervo’s latest drilling operation in Utah, which is able to begin feeding clean electricity to the grid in 2026. Founded in 2017, the company raised $431 million, on Crunchbase.
9. NinjaOneUSD 232 million, collateral: NinjaOne, which provides endpoint management, security and monitoring, raised $231.5 million in Series C Iconiq development. The minority investment values the Austin, Texas-based company at $1.9 billion. Monitoring and securing endpoints has been a central pillar of cybersecurity since the industry’s inception. However, today the needs could also be even greater as many people work outside the office, using different networks and devices. NinjaOne claims to automate endpoint management for over 17,000 customers in over 80 countries and has seen ARR growth of over 70% in the past yr. Founded in 2013, the company raised $261.5 million, on Crunchbase.
10. Collect$200 million, artificial intelligence: Despite some predictions of a slowdown in AI investment, investors are showing the same insatiable appetite for the sector as last yr. Artificial intelligence work assistant and enterprise search startup Glean became the latest to achieve success, locking a greater than $200 million Series D at a $2.2 billion valuation in a round led by Kleiner Perkins AND Partners of the Lightspeed enterprise. The Palo Alto, California-based startup achieved unicorn status last May after raising $100 million in Series C led by Capital of Sequoia. Glean’s AI Generative Search tool connects to enterprise applications and databases while offering conversational AI assistants to help employees on the job. Last yr, the startup almost quadrupled its annual recurring revenue. Founded in 2019, Glean has raised $360 million for the company.
Great global offers
While Epic led all rounds around the world, one other big round took place overseas.
Methodology
We’ve tracked the largest rounds raised by U.S.-based firms in February in the Crunchbase database. While most announced rounds are represented in the database, there could also be a slight delay as some rounds are reported late in the month.