February 2020 Growth Capital Financing Recap

Our investment banking arm – Growthink Capital – just released its assessment of growth capital financings that occurred during February 2020.

A copy of the assessment is below.

February 2020, in spite of the market correction of last week, was another strong month for venture and growth capital funding. We tracked over $5.2 billion in new funding events.

Snowflake, a cloud data platform, topped February funding, with a $479 million raise in growth funding led by Dragoneer Investment Group and Salesforce Ventures.

Other $100 million+ funding events in February included the following:

  • Toast ($400 million), a restaurant management platform

  • Netskope ($340 million), a cloud security platform

  • Alto Pharmacy ($250 million), an online pharmacy with free delivery

  • SambaNova Systems ($250 million), a company trying to offer artificial intelligence (AI) solutions to the masses

  • OneTrust ($210 million), a privacy, security and trust technology platform.

  • SentinelOne ($200 million), an autonomous AI platform focused on online virus and malware protection

  • Karius ($165 million), a company which provides genomic insights for infectious diseases

  • Roblox ($150 million), an online gaming platform

  • Outset Medical ($125 million), a medical devices company focusing on dialysis

  • Flywire ($120 million), an invoicing and payments platform.

Similar to January, the MedTech, HealthTech, Data Analytics Software and Security Software sectors enjoyed considerable funding amounts in terms of both number of deals and size of financings. In February, we also saw several deals in the FinTech, InsurTech and Consumer Goods sectors. Key funding events in each these sectors for the month are below:

  1. FinTech, which included deals such as Flywire ($120 million), Lendio ($55 million), Nova Credit ($50 million), BlockFi ($30 million), Paystand ($20 million), Brace ($10 million), iDonate ($8.7 million), MotoRefi ($8.6 million) and Kasisto ($7 million).

  2. MedTech, whose deals included Outset Medical ($125 million), Hinge Health ($90 million), JenaValve Technology ($50 million), NeuroVasc ($34 million), Aria CV ($31 million), CloudCath ($12 million), Apos Medical Assets ($11 million), and SWORD Health ($9 million).

  3. HealthTech, which included deals such as Innovaccer ($70 million), Q Bio ($40 million), HealthJoy ($30 million), Twistle ($18 million), axialHealthcare ($15 million), and Lover ($5 million).

  4. Data Analytics Software, whose deals included HouseCanary ($65 million), HeadSpin ($60 million), Cherre ($16 million), Algo ($15 million), LinkSquares ($14.5 million), Suzy ($12 million), Kaskada ($8 million), Databook ($5 million) and Arize AI ($4 million).

  5. Security Software, which included deals such as Netskope ($340 million), OneTrust ($210 million), ZeroFOX ($74 million), CybelAngel ($36 million), Cysiv ($26 million), Huntress ($18 million), Praetorian ($10 million), BluBracket ($6.5 million) and Open Raven ($4.1 million).

  6. InsurTech, which included deals such as The Zebra ($38.5 million), At-Bay ($34 million) and Talage ($5 million).

  7. Consumer Goods, whose deals included Veev ($97 million), Feather ($30 million), Alpha Foods ($28 million), Rad Power Bikes ($25 million), BlueNalu ($20 million), Van Leeuwen Ice Cream ($18.7 million), MycoWorks ($17 million), Bravo Sierra ($12 million) and Pet Plate ($9 million).

If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.

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