There was definitely a slowdown in large rounds this week, with only three deals breaking the $100 million mark. However, healthcare and medical device makers did well. Maybe announcements are slowing down as summer winds down, but the week actually seemed devoid of the big money so many have this yr.
1. Kite work$456 million, cybersecurity: It looks like investors are taking an interest in cybersecurity again. Per week after Abnormal security closed a $250 million Series D funding round, valuing the startup at $5.1 billion, secure content company Kiteworks raised $456 million from Insight Partners (who also took part in the Abnormal round) and Sixth Street. The San Mateo, California-based company described the latest round as “growth capital” but also said it was a “partial liquidity event,” meaning some investors may have cashed out. While the company didn’t provide a valuation, it said it was a minority investment, which puts its valuation at greater than $1 billion. The Kiteworks platform lets customers share sensitive data with other trusted parties through communication channels like email and file sharing. In 2020, the company raised $120 million in a funding round led by Bregal SagemountFounded in 1999, Kiteworks has gathered $592 millionThe company was formerly often called Accellion and suffered a major data breach in 2021.
2. Hald Therapy$126 million, biotechnology: The largest biotech funding round of the week was won by Halda Therapeutics of New Haven, Conn., a biotech startup developing therapies for prostate and breast cancer, which raised $126 million in a Series B extension from investors including Deep capital AND RA Capital ManagementFounded in 2018, Halda has raised $202 million so far, in accordance with company data.
3. HistoSonics$102 million, healthcare: We often talk a lot about biotech in this column, but this week was a good week for healthcare and medical device firms like HistoSonics. The Minneapolis-based company raised $102 million in Series D funding led by Alpha Wave Projects. The startup’s Edison histotripsy system uses ultrasound to create a “cloud of bubbles” designed to destroy and liquefy targeted liver tumors. Founded in 2009, the company has raised nearly $329 million, in accordance with Crunchbase.
4. Neptune Medical$97 million, medical device: As we said, a good week for medical device manufacturers, as Neptune Medical also raised a lot of money. The Burlingame, California-based medical device manufacturer raised $97 million in Series D funding. The company said: Olympus AND Capital Sonder were significant participants in the round. Neptune Medical focuses on using robotics to combat gastrointestinal diseases. Founded in 2016, this is the company’s first disclosed funding amount, in accordance with Crunchbase.
5. Care Syntax$80 million, healthcare: We’re staying in healthcare, with $180 million raised by Caresyntax in a Series C and growth debt expansion. The money is split between $80 million in equity and $100 million in growth debt financing from a variety of investors. The San Francisco-based startup has developed a software and AI platform for surgery — enabling the use of data and applications to enhance surgical precision and patient safety. Founded in 2013, the company has raised nearly $388 million, in accordance with Crunchbase.
6. EliseAI$75 million, AI: Conversational AI platform EliseAI has emerged as one of the latest unicorns in the AI world. The New York-based company raised $75 million in Series D funding at a valuation of over $1 billion, led by Sapphire Projects. EliseAI currently focuses its AI platform on the housing industry, but is also expanding into healthcare. Founded in 2017, the company has raised nearly $142 million, in accordance with Crunchbase.
7. Chaos Labs$55M, blockchain: New York-based blockchain risk management startup Chaos Labs has raised $55 million in a Series A round led by Haun’s EnterprisesFounded in 2022, the company has raised $75 million, in accordance with Crunchbase.
8. Moximed$61 million medical device: Fremont, Calif.-based Moximed, a developer of medical devices for people with knee osteoarthritis, has closed a $61 million Series D funding round, which also includes an choice to close an additional $30 million. The round was led by Elevage Medical TechnologiesFounded in 2006, the company has raised $244 million, in accordance with Crunchbase.
9. Sahara AI$43 million, AI: Los Angeles-based Sahara AI, a decentralized AI network, has raised $43 million in a funding round led by enterprise capitalists Binance Labs, Capital Panther AND Multi-chainFounded in 2023, the company has raised $49 million, in accordance with Crunchbase.
10. PayZen$32M, fintech: San Francisco-based healthcare fintech startup PayZen has raised $32 million in equity funding led by NEA. The company also raised a $200 million line of credit. The company, founded in 2019, raised $472 million, in accordance with Crunchbase.
Large global transactions
While the largest fundraising got here from the US, Asia also saw a large round of financing.
- Based in India OYOa travel technology company, has raised Series G funding value roughly $123.9 million.
Methodology
We tracked the largest announced funding rounds in the Crunchbase database, which were raised by U.S.-based firms during the seven-day period from August 10 to August 16. While most announced rounds are included in the database, there could also be a slight delay as some rounds are reported late in the week.