February 2021 Growth Funding Recap

Written By Dave Lavinsky
Growthinkc.om February 2021 Growth Funding Recap

Growthink Capital Research tracked $8.5 billion in new venture funding in February 2021, about the same as the $8.8 billion we tracked in January. 

The month’s biggest funding event belonged to Databricks, the data analytics and AI firm that raised $1 billion.

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

  • Plume ($270 million) a SaaS platform for communications service providers to deliver personalized services to subscribers.
  • Centessa Pharmaceuticals ($250 million) a biopharmaceutical company developing practice-changing medicines to patients with greater efficiency.
  • Reddit ($250 million) a social content and media sharing platform.
  • Plus ($200 million) a self-driving technology for commercial fleets.
  • Locus Robotics ($150 million) a developer of autonomous mobile robots to simplify and automate warehouse and e-commerce operations.
  • Outsystems ($150 million) an application development and delivery platform designed to integrate custom code.
  • Standard Cognition ($150 million) a developer of autonomous checkout technology to streamline operations for brick and mortar retailers.
  • Branded ($150 million) an operator of e-commerce businesses and marketplaces.
  • Rad Power Bikes ($150 million) a developer of electric bicycles for on and off-road use.
  • Vividion Therapeutics ($135 million) a novel drug discovery platform.
  • Axiom Space ($130 million) a human spaceflight services company.
  • Day One Biopharmaceuticals ($130 million) a biopharmaceutical company focused on developing therapies for cancer.
  • BetterUp ($125 million) a coaching platform designed to boost professional performance through skills development.
  • Savage X Fenty ($115 million) a lingerie brand.
  • Divvy Homes ($110 million) a homeownership platform that allows renters to build equity credits as they rent.
  • ScienceLogic ($105 million) a monitoring platform designed to simplify the task of managing information technology resources.
  • TigerGraph ($105 million) a real-time graph database platform designed to power real-time deep link analytics for enterprises.
  • Human Interest ($105 million) an administration and advising platform that offers access to a secure financial future.
  • Newsela ($100 million) an e-learning platform that offers student-tailored daily news articles online and digitally.
  • Matillion ($100 million) a cloud-based data integration technology that helps customers extract, load and transform data into and on cloud-based data warehouses.
  • Good Eggs ($100 million) an online marketplace for delivering groceries.

The hottest sectors for funding during the month were FinTech, Biotech, Artificial Intelligence, Cybersecurity, HealthTech, EdTech and CloudTech & DevOps.

Key funding events in each these sectors for the month are below:

  1. FinTech deals included Human Interest ($105 million), NYMBUS ($53 million), Kalshi ($30 million), EarnUp ($25 million), EquityBee ($20 million), Wisetack ($19 million), Public.com ($15 million), Capitalize ($13 million), Aidentified ($10 million), Rightfoot ($5 million) and Gravy Solutions ($4.5 million).
  2. Biotech deals included Vividion Therapeutics ($135 million), Day One Biopharmaceuticals ($130 million), Xilio Therapeutics ($95 million), Orna Therapeutics ($80 million), Cyteir Therapeutics ($80 million), Pipeline Therapeutics ($80 million), Ensoma ($70 million), Infinant Health ($55 million), Cullgen ($50 million), Iterion Therapeutics ($17 million) and Cage Bio ($7 million).
  3. Artificial Intelligence deals included Databricks ($1 billion), Plus ($200 million), Otter.ai ($50 million), Weights & Biases ($45 million), Labelbox ($40 million), Deepgram ($25 million), Theator ($16 million), SmartHop ($12 million) and Superb AI ($9.3 million).
  4. Cybersecurity deals included Red Canary ($81 million), vArmour ($58 million), Human Security ($57 million), Armorblox ($30 million), Axiad ($20 million), 1Kosmos ($15 million), SPHERE ($10 million), BeyondID ($9 million) and SecurityAdviser ($7.3 million).
  5. HealthTech deals included Hyperfine Research ($90 million), Capital Rx ($50 million), Redox ($45 million), Medisafe ($30 million), Equip ($17 million), Flywheel ($15 million), Talkiatry ($5 million) and Elucidata ($5 million).
  6. EdTech deals included BetterUp ($125 million), Newsela ($100 million), Labster ($60 million), Brightwheel ($55 million), Codecademy ($40 million), Class Technologies ($31 million), Photomath ($23 million), ELSA ($15 million) and AdmitHub ($14 million).
  7. CloudTech & DevOps deals included Outsystems ($150 million), ScienceLogic ($105 million), Sentry ($60 million), ReverseLogix ($20 million), Honeycomb ($20 million) and Platform9 ($12.5 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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