May 2022 Venture Growth Funding Recap

vc funding report - may

Growthink Capital Research tracked $7.8 billion in new venture funding in May 2022 down from $10.8 billion in April 2022. 

The month’s biggest funding event belonged to Acrisure ($725 million) which provides insurance brokerage services to manage and overcome complex risk and insurance challenges.

Twenty-three companies raised $100 million or more in May. Other than Acrisure, the 10 companies which raised the most are as follows:

  1. Kriya Therapeutics ($270 million) a gene therapy company that designs and develops gene therapies for diseases with underlying biology. 
  2. Rippling ($250 million) an employee management platform that helps eliminate the administrative work of running a company. 
  3. Semperis ($200 million) a cyber resilience and threat mitigation platform that ensures integrity and availability of critical enterprise directory services in the cyber kill chain.
  4. Arcadia ($200 million) a clean energy tech platform that facilitates easy access to clean energy and provides users optimal energy control.
  5. Mosyle ($196 million) a device management software that streamlines Apple device management to simplify technology adoption and redesign workflows.
  6. Material Bank ($175 million) a material marketplace for professionals and brands in the architecture and design industry.
  7. Chainalysis ($170 million) a cryptocurrency investigation and compliance software that protects the junction between finance and the decentralized internet.
  8. Mainspring ($150 million) linear power generators that bring affordable, reliable and net-zero carbon grid of the future.
  9. Cribl ($150 million) a big data software that simplifies big data and log analytics at scale enabling businesses to get observability, intelligence, and control over their real-time data.
  10. Firework ($150 million) a storytelling platform that live streams videos directly on the website enabling brands to engage and convert their website visitors.

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

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

  1. A.I./Machine Learning deals included Cribl ($150 million), Tifin (Magnifi) ($109 million), Vivun ($75 million), Lev ($70 million), Cornami ($68 million), Mashgin ($62 million), Sima.ai ($30 million), Element5 ($30 million), Heartex ($25 million), Accern ($20 million), Voxel ($15 million), Tenyx ($15 million), Credo AI ($12.8 million), Juno ($10 million), Bold Metrics ($8 million), Faye ($8 million), Revvo ($6 million), BalkanID ($5.8 million), and Kahoona ($4.5 million).
  2. Cybersecurity deals included Semperis ($200 million), Traceable ($60 million), Vade ($30 million), ShiftLeft ($29 million), StackHawk ($21 million), Phylum ($15 million), Concentric ($14.5 million), Network Perception ($13 million), ShardSecure ($11 million), Surefire Cyber ($10 million), and LimaCharlie ($5.5 million).
  3. Business/Productivity Software deals included Imply Data ($100 million), Sentry ($90 million), SirionLabs ($85 million), Observe ($70 million), Zip ($43 million), BuildOps ($43 million), Lumos ($30 million), AutoRABIT ($26 million), Kintent ($18 million), and Viable ($5 million).
  4. Cryptocurrency/Blockchain deals included Chainalysis ($170 million), Talos ($105 million), Xage ($36 million), Amberdata ($30 million), Oasis Pro ($27 million), Metatheory ($24 million), MetaKing Studios ($15 million), Azra Games ($15 million), Coinshift ($15 million), and Enhanced Digital Group ($12.5 million).
  5. Fintech deals included Unit ($100 million), Kard ($23 million), Concerto ($21 million), Possible Finance ($20 million), Allocate ($15.3 million), Equipifi ($12 million), Amaryllis Payment Solutions ($10 million), PayEngine ($10 million), and Pando ($6 million).

Take our Fundability Test. If you had additional capital, could you use it to grow your company? Or to fund a liquidity event for you and your shareholders?

We’ve built a unique network of 783 private equity firms, family offices, and ultra-high net worth individuals. Who are looking to invest in companies that they find to be fundable.

To see if your company qualifies, take our quick “Fundability Test.” 

Companies that score 85 or higher on the test almost always qualify. Do you? Take our “Fundability Test” now to find out. 

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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