What a week for big rounds, with nine of them reaching $100 million or more. While there weren’t multi-billion dollar rounds like last week, there was still loads of money being invested in the whole lot from renewable energy to a soccer entertainment company.
1. Energy FormUSD 405 million, renewable energy: The largest round of the week was one of the largest this yr in the area of renewable energy sources. Form Energy, a renewable energy company developing and commercializing multi-day energy storage systems, has raised $405 million in Series F led by: T. Rowe Price. Long-term energy storage has proven to be a tough nut to crack, but Form has managed to realize industrial traction because it plans to extend production operations and industrial deployments of its iron-air battery systems. Founded in 2017, the Somerville, Massachusetts-based company has raised a total of $1.5 billion in equity and grant funding, via Crunchbase.
2. (sure) Urban TherapyUSD 135 million, biotechnology: The biotech industry’s big raise this week got here from a brand latest company. City Therapeutics has launched a $135 million Series A led by: Arch Venture Partners. The Cambridge, Massachusetts-based biotechnology company is building a product engine for RNAi therapies to treat multiple diseases.
2. (sure) EvenUp$135 million, legal: EvenUp, a legal tech startup creating artificial intelligence products for the personal injury sector, raised $135 million in Series D led by Bain’s capital ventures at a valuation of greater than $1 billion. The San Francisco startup’s platform is powered by an artificial intelligence model trained on a whole bunch of 1000’s of injury cases, medical records and in-house legal knowledge. The platform helps in generating documents and preparing cases and negotiations. Founded in 2019, EvenUp has raised $235 million, in line with the company. Legal technology has seen tremendous growth this yr – largely driven by artificial intelligence. According to Crunchbase datalegal tech startups have already raised $1.9 billion this yr. Last yr, VC-backed legal tech startups raised lower than $1 billion. EvenUp’s raise is the second largest so far this yr. In July, the Vancouver-based legal tools platform Clio closed a $900 million Series F at a valuation of $3 billion.
4. SorryUSD 130 million, event management: San Clemente, California-based startup AtVenu, which helps manage retail sales at live events, raised $130 million from Sixth Street. The company provides payment and inventory logistics software that helps artists, venues and others manage merchandise, food and beverage sales at live events reminiscent of festivals and sports matches. Founded in 2012, the company has raised $161 million via Crunchbase.
5. Maven Clinic$125 million, health care: Maven Clinic, a New York-based teletherapy startup, raised a $125 million Series F funding round led by: StepStone Group which values the startup at $1.7 billion. Maven partners with employers and health plans to offer clinical support for preconception, family building, pregnancy, parenting and menopause. The company previously raised $90 million in Series E funding, led by: (*10*)Generic catalytic converter.
6. (sure) DrillUSD 100 million, supply chain management: Bellevue, Wash.-based Auger launched a $100 million seed round this week led by HC/FT oak. The latest startup was founded by Dave Clarkformer CEO Amazonglobal consumer division and co-manager of Flexport. Clark resigned from Flexport last yr after pressure from management and a shake-up at the company. Now he has returned to the startup world and is developing an AI-powered tool for existing inventory management platforms to deliver real-time analytics.
6. (sure) Cytovale$100 million, health diagnostics: Cytovale, a medical diagnostics company focused on detection technologies for the diagnosis of rapidly progressing immune-mediated diseases, raised $100 million in Series D led by: The Capital of Sands. Founded in 2013, the San Francisco-based company has raised nearly $229 million via Crunchbase.
6. (sure) Glooko$100 million, health care: Palo Alto, California-based Glooko, an integrated digital health company serving patients, providers, biopharmaceutical corporations and medical device manufacturers, has secured a $100 million Series F contract led by: Georgian. Founded in 2010, the company has raised $301 million, via Crunchbase.
6. (sure) Football Toca$100 million, sports: Toca Football, a soccer experience company that provides training centers and entertainment facilities, has raised about $100 million from several investors. Founded in 2016, the Costa Mesa, California-based company has raised over $240 million via Crunchbase.
10. (tied) ImprintUSD 75 million, payments: New York-based co-branded bank card company Imprint raised $75 million in Series C, led by Khosla ventures at a valuation of $600 million. Founded in 2020, the company raised $202 million, via Crunchbase.
10. (tied) Judah BioUSD 75 million, biotechnology: Cambridge, Mass.-based Judo Bio, a biotechnology company developing renal oligonucleotide therapeutics, launched with $100 million in seed funding, including a $75 million Series A round co-led by Atlas enterprise, Droia Ventures AND TCG.
Great global offers
The biggest deal of the week outside the US got here from the south.
- Based in Brazil Foundationwhich helps corporations automate financial processes, raised roughly $148 million in Series C funding.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by US-based corporations over a seven-day period from October 5 to October 11. Although most announced rounds are represented in the database, there could also be a slight delay as some rounds are reported late in the week.