July 2020 Trends in Growth Capital Financings

Growthink.com June 2020 Venture Capital Funding Events

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

July 2020 saw yet again another increase in venture and growth capital funding events when compared to June.

We tracked $7.1 billion in new funding events during the month, up from $6.4 in June and $5 billion in May.

$2.5 billion of this funding came from Rivian, a manufacturer of autonomous electric vehicles.

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

  • Perfect Day ($300 million) a developer of animal-free dairy proteins intended to offer the nutritional profile and food functionality similar to proteins found in cow’s milk.
  • UiPath ($225 million) a developer of robotic process automation software designed to deliver fast and reliable RPA that enhances business performance at an unlimited scale. 
  • Innovium ($170 million) which develops advanced networking silicon technology intended to provide networking solutions for cloud, edge and AI networks.
  • Talkdesk ($143 million) a cloud-based call center software designed to help growing businesses to improve customer satisfaction while reducing costs.
  • VelosBio ($137 million) a biotechnology company focused on cancer research.
  • Coursera ($130 million) an online education and learning platform designed to offer courses to empower learners around the world.
  • Qumulo ($125 million) a cloud-based enterprise data storage platform designed to manage and store numerous digital assets data through real-time analytics.
  • Praxis Precision Medicines ($110 million) which developsf therapies for patients and families affected by complex and debilitating brain disorders.
  • Vor Biopharma ($110 million) a developer of targeted cell therapy designed to treat highly fatal malignancies.
  • Unum Therapeutics ($104 million) a clinical-stage biopharmaceutical company focused on novel immunotherapy products designed to harness the power of a patient’s immune system to cure cancer.
  • Ceros ($100 million) an interactive content creation software designed to create rich, engaging content, without code or traditional web development.
  • Medly Pharmacy ($100 million) a digital pharmacy platform intended to provide free, same-day prescription delivery and dedicated pharmacy support.
  • Skydio ($100 million) which developed AI-powered drones intended to make the power of flight a trusted and useful part of people’s everyday lives.
  • Annexon Biosciences ($100 million) a developer of novel therapeutics intended to treat neurodegenerative disorders.

 

The hottest sectors for funding during the month were BioTech, Cybersecurity, FinTech, HealthTech, Artificial Intelligence, Big Data, FoodTech and InsurTech.

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

 

  1. BioTech deals included VelosBio ($137 million), Praxis Precision Medicines ($110 million), Vor Biopharma ($110 million), Unum Therapeutics ($104 million), Annexon Biosciences ($100 million), Bolt Biotherapeutics ($93 million), Omega Therapeutics ($85 million), Nura Bio ($73 million), BioAtla ($72 million), BioTheryX ($35 million), MBX Biosciences ($34.6 million), Elevation Oncology ($32 million), Tranquis Therapeutics ($30 million), Amylyx Pharmaceuticals ($30 million), Inimmune ($22 million) and Pattern Bioscience ($9 million).
  2. Cybersecurity deals included BlueVoyant ($68 million), ComplyAdvantage ($50 million), CyCognito ($30 million), LogDNA ($25 million), Area 1 Security ($25 million), Traceable ($20 million), Whistic ($12 million), CYR3CON ($8 million) and Sotero ($5 million).
  3. FinTech deals included Remitly ($85 million), Growers Edge Financial ($40 million), Bond Financial Technologies ($32 million), Curv ($23 million), Privacy.com ($10 million), Hummingbird RegTech ($8 million), Quaestor ($6 million) and Propel(x) ($5.5 million).
  4. HealthTech deals included Medly Pharmacy ($100 million), Caption Health ($53 million), Kernel ($53 million), AristaMD ($24 million), GYANT ($14 million), Genome Medical ($14 million), Bluedot ($9 million) and Noteworth ($5 million).
  5. Artificial Intelligence deals included UiPath ($225 million), Explorium ($31 million) and FraudScope ($7 million).
  6. Big Data deals included OwnBackup ($50 million), Fauna ($27 million), Qualio ($11 million) and Verikai ($6 million).
  7. FoodTech deals included Perfect Day ($300 million), Chowbus ($33 million), Crisp ($12 million) and Joywell Foods ($6.5 million).
  8. InsurTech deals included Branch ($24 million), Sidecar Health ($20 million), The Helper Bees ($6 million) and Claim Genius ($5.5 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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