February 2022 Venture Growth Funding Recap

february venture capital report

Growthink Capital Research tracked $10.3 billion in new venture funding in February 2022 down from $13.9 billion in January 2022. 

The month’s biggest funding event belonged to Flexport ($935 million) a freight forwarding platform that provides visibility and control over the entire supply chain helping logistics companies optimize transportation routes and inventory management.

Thirty-four companies raised $100 million or more in February. Other than Flexport, the 10 companies which raised the most are as follows:

  1. Weee! ($425 million) an online supermarket that offers an affordable farm-to-door experience that serves as the primary source of ingredients, meals, and everyday essentials from Asia.
  2. Uniphore ($400 million) an artificial intelligence-powered conversational automation platform designed to offer speech analytics allowing businesses to use natural communication modes and speech to engage and instruct machines to build loyalty and realize efficiencies.
  3. Palmetto ($375 million) an energy management and consumption tracking platform and solar energy equipment that monitors and optimizes solar energy consumption helping homeowners view their system performance with transparency and track their renewable energy usage.
  4. Somatus ($325 million) a concierge kidney care service provider that delays or prevents the progression of chronic kidney disease to ESRD maximizing the number of patients who qualify for and receive kidney transplantation.
  5. Branch ($300 million) a deep linking technology that transforms how brands and users interact across digital platforms helping businesses improve their customer experience and measure and optimize campaign performance.
  6. CelLink ($250 million) a high-conductance, large-area flexible circuit manufacturer that offers a clean power revolution helping customers to get access to conducive circuits at an affordable price.
  7. Starburst ($250 million) an analytics platform that unlocks the value of data by making it fast and easy to access anywhere, overcoming the complexity of data movement and copies.
  8. Chargebee ($250 million) a subscription billing and revenue management platform that offers subscription management services enabling clients to utilize multiple payment options and making billing easier.
  9. Cart.com ($240 million) an e-commerce-as-a-service platform that enables clients to take control of their online business and increase their revenue.
  10. Kallyope ($236 million) a biotechnology company that explores the therapeutic potential of gut-brain circuits to enable healthcare industries to develop improved therapeutics for human health and nutrition.

The hottest sectors for funding during the month were Biotech, Fintech, HealthTech, Business/Productivity Software, and Big Data.

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

  1. Biotech deals included Kallyope ($236 million), Dewpoint Therapeutics ($150 million), Scipher Medicine ($110 million), Seismic Therapeutic ($101 million), Electra Therapeutics ($84 million), Walking Fish Therapeutics ($73 million), Arkuda Therapeutics ($64 million), Selux Diagnostics ($50 million), Parse Biosciences ($41.5 million), Variantyx ($20 million), and Teclison ($5.9 million).
  2. Fintech deals included Chargebee ($250 million), Pontera (FeeX) ($80 million), Check ($75 million), Tribal ($60 million), Happy Money ($50 million), BeatBread ($34 million), PriorAuthNow ($25 million), Relief ($15 million), and Highline ($4.5 million).
  3. HealthTech deals included Qventus ($50 million), Koneska ($45 million), Story Health ($23 million), Trialjectory ($20 million), Getlabs ($20 million), EarliTec Dx ($19.5 million), K4Connect ($12 million), Curve Health ($12 million), and NourishedRX ($6 million).
  4. Business/Productivity Software deals included Jellyfish ($71 million), Redpanda ($50 million), Torii ($50 million), GuideCX ($25 million), Swoogo ($20 million), BTR ($15 million), and Yardstik ($8 million).
  5. Big Data deals included Starburst ($250 million), DBT Labs ($222 million), Voltron Data ($110 million), Census ($60 million), Standard Metrics ($24 million), and Onehouse ($8 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.