Growthink Capital Research tracked $10.9 billion in new venture funding in May 2021, up from the $10.8 billion in funding tracked in April.
The month’s biggest funding event belonged to Kajabi which raised $550 million. Kajabi offers an all-in-one platform that makes it easy to create online courses, launch marketing campaigns, build landing pages and design websites.
Thirty-one companies raised $100 million or more in May. Other than Kajabi, the 10 companies which raised the most are as follows:
- DailyPay ($500 million) an on-demand cash service that reduces employee turnover by improving the financial condition of employees.
- Homeward ($371 million) a real estate management platform that simplifies the process of purchasing homes online.
- BETA Technologies ($368 million) a developer of aerospace technologies used in electric vertical takeoff and landing (eVTOL) aircraft and recharging pad systems.
- Klaviyo ($320 million) an email and SMS marketing platform.
- Bowery Farming ($300 million) a modern farming company producing organic produce.
- Workrise ($300 million) an on-demand workforce management and hiring platform.
- CivicPlus ($290 million) a cloud-based technology platform that provides integrated software for cities and counties across North America.
- Collective Health ($280 million) a cloud-based self-insurance platform.
- ReCharge ($277 million) a software platform that makes selling subscription products easier.
- Aurora Solar ($250 million) a 3D-modelling platform that automates solar panel installation.
The hottest sectors for funding during the month were FinTech, HealthTech, Biotech, Cybersecurity, Business/Productivity Software and A.I./Machine Learning.
Key funding events in each these sectors for the month are below:
- FinTech deals included DailyPay ($500 million), ReCharge ($277 million), Pipe ($250 million), Sunbit ($130 million), Vise ($65 million), Lili ($55 million), Altruist ($50 million), Rally ($30 million), Hearth ($23 million), Treasury Prime ($20 million), Upsie ($18 million), FinLync ($16 million), Spinwheel ($11 million) and Denim ($10 million).
- HealthTech deals included Akili ($160 million), Aetion ($110 million), Vida Health ($110 million), Cellares ($82 million), Headway ($70 million), DrFirst ($50 million), Vori Health ($45 million), Aerobiotix ($25 million), CustomHealth ($20 million), Curebase ($15 million), AcuityMD ($7 million) and emocha Health ($6.2 million).
- BioTech deals included Interline Therapeutics ($92 million), Vedere Bio II ($77 million), GenapSys ($70 million), Eliem Therapeutics ($60 million), TwinStrand Biosciences ($50 million), Sporos Bioventures ($38 million), Gilgamesh Pharmaceuticals ($27 million), RenBio ($24 million), Asylia Therapeutics ($14 million) and miRecule ($5.7 million).
- Cybersecurity deals included Arkose Labs ($70 million), Persona ($50 million), Vanta ($50 million), DataDome ($35 million), JupiterOne ($30 million), Cyral ($26 million), Cycode ($20 million), BluBracket ($12 million), Britive ($10 million) and NetAbstraction ($9 million).
- Business/Productivity Software deals included CivicPlus ($290 million), HoneyBook ($155 million), WorkBoard ($75 million), Snappy ($70 million), Legion ($50 million), Styra ($40 million), Apptopia ($20 million), RightBound ($12 million) and Jifflenow ($12 million).
- A.I./Machine Learning deals included ASAPP ($120 million), SiMa ($80 million), Lightmatter ($80 million), Breinify ($11 million), elucid ($8 million) and DeepScribe ($5.2 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.