January 2020 Growth Capital Financing Recap

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

A copy of the assessment is below.

As expected, January 2020 started out strong in terms of venture and growth capital funding.

While certain sectors remain hot, solid companies in many industries continue to receive impressive sums of outside funding.

January 2020 funding was led by Joby Aviation which raised $590 million in a Series C round. Joby, amazingly, is developing an electric air taxi; a five-seat piloted aircraft that can both takeoff and land vertically. It can reach speeds of 200 miles per hour and can fly over 150 miles on a single charge. Plus it’s 100 times quieter than conventional aircraft during takeoff and landing, and near-silent when flying.

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

  • Secfi ($550 million) – a pre-wealth management platform helping startup employees navigate financial decisions from offer to IPO
  • ClassPass ($285 million)  – a monthly service giving members 10 fitness classes to be used to visit any studio of their choice up to three times per month
  • AvidXchange ($260 million) – offers accounts payable (AP) and payment automation solutions for the middle market
  • Tradeshift ($240 million) –  a supply chain company that helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app
  • Califia Farms ($225 million) – a manufacturer and marketer of plant-based dairy alternative beverages
  • AppsFlyer ($210 million) — an attribution platform with a suite of comprehensive measurement and analytics solutions
  • EQRx ($200 million) – creates treatments for life threatening and chronic diseases to people more efficiently and cost-effectively
  • Concerto HealthAI ($150 million) – offers Real-World Data (RWD) and AI solutions for precision oncology
  • Snyk ($150 million) – provides security solutions for development teams to own, automate and deliver secure applications
  • NextNav ($120 million) – a geolocation platform that includes precise “altitude determination” services enabling “floor level” determination in major urban markets across the U.S.
  • Skylo ($116 million) – brings instant, affordable and ubiquitous Internet of Things (IoT) connectivity to millions of machines, sensors and devices, even in the most remote geographies
  • Generation Bio ($110 million) – develops liver-targeted programs for hemophilia A and phenylketonuria (PKU) into IND-enabling studies and clinical development

 

The Software, MedTech, HealthTech, Data Analytics software and Security software sectors continued to greatly impress in January both in terms of number of deals and size of financings, including:

  1. Software, which included deals such as Tradeshift ($240 million), LaunchDarkly ($54 million), 6sense ($40 million), Orchard ($36 million), WorkBoard ($30 million), Hivebrite ($20 million), Practifi ($16.3 million), Epsagon ($16 million), Alitheon ($14.9 million), Feathr ($11 million), Uplevel ($7.5 million), Hitched ($5.5 million) and SPOTIO ($4.5 million)
  2. MedTech, whose deals included Omniome ($60 million), Covera Health ($23.5 million), IsoPlexis ($20 million), BioSkryb ($11.5 million) and Iterative Scopes ($5.2 million).
  3. HealthTech, which included deals such as Concerto HealthAI ($150 million), Kyruus ($42 million), Modern Health ($31 million), Pieces Technologies ($25.7 million) and DrChrono ($20 million).
  4. Data Analytics Software, whose deals included Nference ($60 million), ActionIQ ($32 million), BlueConic ($13 million) and Lily.ai ($12.5 million).
  5. Security Software, which included deals such as Sysdig ($70 million), BigID ($50 million), Cyral ($15.1 million), Intezer ($15 million), and CloudKnox ($12 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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