March 2022 Venture Growth Funding Recap

marchventurefunding

Growthink Capital Research tracked $10.7 billion in new venture funding in March 2022 up from $10.3 billion in February 2022. 

The month’s biggest funding event belonged to Ramp ($750 million), a corporate card and spend management platform that enables organizations to give their employees cost-effective credit cards that can ensure control over automated savings.

Thirty-three companies raised $100 million or more in March. Other than Ramp, the 10 companies which raised the most are as follows:

  1. ConsenSys ($450 million) a blockchain technology-based platform that assists enterprises to launch more powerful financial infrastructure in order to optimize business processes.
  2. Veev ($400 million) advanced housing materials that reinvent the way homes are built and experienced.
  3. Stax ($245 million) an integrated payment platform that simplifies the overall payment experience for business owners.
  4. Roofstock ($240 million) an online property investment marketplace that helps people to buy and sell a tenant-occupied rental properties.
  5. Astronomer ($213 million) a data orchestration platform that collects and prepares statistics for business analytics.
  6. Society Brands ($204 million) a tech-enabled company that acquires e-commerce native brands to build maximum scale.
  7. DNAnexus ($200 million) a biomedical informatics and data management platform that analyzes DNA-sequencing data.
  8. Axonius ($200 million) a cybersecurity asset management platform that secures and manages connected devices in use by businesses. 
  9. Jeeves ($180 million) a corporate card software that enables global startups to pay with ease for anything and anywhere.
  10. LifeMine Therapeutics ($175 million) a drug discovery platform that elucidates human biology and creates sophisticated therapeutics to attack the fundamental drivers of serious human diseases.

The hottest sectors for funding during the month were Biotech, Business/Productivity Software, A.I./Machine Learning, Fintech, and Cybersecurity.

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

  1. Biotech deals included Neuron23 ($100 million), LifeMine Therapeutics ($175 million), Spotlight Therapeutics ($37 million), Deepcell ($73 million), KayoThera ($8 million), PrognomiQ ($46 million), Nutcracker Therapeutics ($167 million), Maxwell Biosciences ($11 million), Sherlock Biosciences ($80 million), DNAnexus ($200 million), Osteal Therapeutics ($30 million), Salubris Biotherapeutics ($32 million), Vesalius Therapeutics ($75 million), Avenge Bio ($45 million), and Rondo Therapeutics ($67 million).
  2. Business/Productivity Software deals included Firstbase ($50 million), Fairwords ($5.25 million), Theta Lake ($50 million), Spectro Cloud ($40 million), Cascade ($29 million), Clockwork ($21 million), Allseated ($15 million), Akeneo ($135 million), J2 Health ($4.5 million), Argyle ($55 million), ESGgo ($7 million), Faros AI ($16 million), Connecteam ($120 million), and Fieldguide ($17 million).
  3. A.I./Machine Learning deals included Black Crow ($25 million), Home365 ($26 million), Celona ($60 million). Pinecone ($28 million). Sprockets ($10 million). David Energy ($21 million), Finally ($95 million), Woebot ($9.5 million), Snappt ($100 million), RightBound ($15.5 million), AiFi ($65 million), Zero ($12 million), and Sourcepass ($70 million).
  4. Fintech deals included Digits ($65 million), Jeeves ($180 million), ChargeAfter ($44 million), Capitolis ($110 million), Ramp ($750 million), Stellar ($7 million), Stilt ($14 million), Milo ($17 million), Capchase ($80 million), Branch ($75 million), Stax ($245 million), and Lynx ($17.5 million).
  5. Cybersecurity deals included Revelstoke ($5 million), Clear Skye ($14 million), MixMode ($45 million), ForAllSecure ($21 million), SafeBase ($18 million), Axonius ($200 million),VISO Trust ($11 million), Scope Security ($20 million), and Balbix ($70 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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