June 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 June 2020.

June 2020 saw a solid increase in venture and growth capital funding events when compared to May.

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

Sana Biotechnology, the developer of engineered cells intended to treat a broad array of diseases, led June financings with a $700 million Series B funding.

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

  • Palantir Technologies ($500 million) a data fusion platform designed to integrate, visualize, secure and analyze information.
  • Doordash ($400 million) which provides on-demand food-ordering and delivery services. 
  • Varo Money ($241 million) a financial platform intended to redefine banking and help people make smart choices with their money.
  • Duck Creek Technologies ($230 million) an insurance SaaS software.
  • Instacart ($225 million) an on-demand goods delivery application to order and secure delivery of groceries from local stores.
  • Sonder ($170 million) a peer-to-peer home rental platform intended to help travelers book apartments, houses, condos, villas and loft instantly.
  • C4 Therapeutics ($170 million) a developer of drugs intended to transform the treatment of cancer, neurological, and other important diseases with novel therapies that eliminate disease-causing proteins.
  • Postman ($150 million) a collaboration platform designed to offer application program interfaces.
  • Shattuck Labs ($118 million) an immunotherapy and biopharmaceutical company developing treatments for patients battling cancer and inflammatory disease.
  • Poseida Therapeutics ($110 million) a developer of non-viral gene engineering technologies intended to create cell therapies with the capacity to cure cancer.
  • Vacasa ($108 million) a vacation rental management services intended to streamline the rental experience between homeowners and guests.
  • GreenLight Biosciences ($102 million) a cell-free bio-processing platform designed to ensure sustainable global development with bio-processed RNA.
  • Cedar ($102 million) a patient payment platform intended to offer a smarter way for hospitals, health systems, and medical groups to manage the patient payment ecosystem.
  • Pagaya ($102 million) a data-driven investment platform designed to offer online lending and online credit marketplaces.
  • Fivetran ($100 million) an automated data integration platform designed to centralize data into cloud warehouses.
  • Credo ($100 million) a provider of high performance, low power serial connectivity solutions for the Hyperscale Datacenter and 5G Carrier markets.
  • Cue Health ($100 million) a health monitoring system designed to track health information at the molecular level.

The hottest sectors for funding during the month were BioTech, FinTech, Artificial Intelligence, HealthTech, Medical Devices, Cybersecurity and Real Estate Tech.

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

  1. BioTech deals included Sana Biotechnology ($700 million), C4 Therapeutics ($170 million), Shattuck Labs ($118 million), Poseida Therapeutics ($110 million), GreenLight Biosciences ($102 million), Cullinan Oncology ($98 million), Checkmate Pharmaceuticals ($85 million), Athira Pharma ($85 million), Artiva Biotherapeutics ($78 million), Verve Therapeutics ($63 million), AsclepiX Therapeutics ($35 million), Engrail Therapeutics ($32 million), TAE Life Sciences ($30 million), Simcha Therapeutics ($25 million), NFlection Therapeutics ($20 million), TARA Biosystems ($10 million) and Renovion ($8 million).
  2. FinTech deals included Varo Money ($241 million), Cedar ($102 million), Pagaya ($102 million), Pipe ($60 million), Brightside ($35 million), Squire Technologies ($34 million), Botkeeper ($25 million), Wahed Invest ($25 million), MayStreet ($21 million), Cloud9 ($17 million), Haus Services ($16 million), Dignifi ($14 million), NYMBUS ($12 million), Lili ($10 million), Capital ($9 million), MPower Financing ($9 million) and Pando ($8 million).
  3. Artificial Intelligence deals included HyperScience ($60 million), Rasa Technologies ($26 million), Urbint ($20 million), Inky ($20 million), Clockwise ($18 million), 1touch.io ($14 million) and Accern ($13 million).
  4. HealthTech deals included Cue Health ($100 million), PatientPing ($60 million), Kyruus ($30 million), Proprio ($23 million), Alpha Health ($20 million), Ezra ($18 million) and Conversa Health ($12 million).
  5. Medical Devices deals included Foldax ($20 million), Meditrina ($10 million), Protaryx Medical ($8 million), Cryosa ($8 million), Avive Solutions ($7 million) and Okami Medical ($7 million).
  6. Cybersecurity deals included jSonar ($50 million), Uptycs ($30 million), Salt Security ($20 million), Open Raven ($15 million) and Chargeback ($6 million).
  7. Real Estate Tech deals included Sonder ($170 million), Vacasa ($108 million), OJO Labs ($62 million), HelloOffice ($20 million) and Doorkee ($6 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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