November 2020 Growth Funding Recap

Growthink November 2020 Growth Funding

$6.8 billion in new venture funding was invested during November 2020 according to our investment banking arm Growthink Capital, up from $6.4 billion in October. 

The month’s biggest funding event belonged to two companies which both raised $500 million, Relativity Space an aerospace company that’s designing, developing, and building 3D printed rockets and Nuro a developer of fully autonomous vehicles for local deliveries.

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

  • Hippo ($350 million) a home insurance services company.
  • DataRobot ($270 million) an enterprise AI platform designed to accelerate data science by automating the end-to-end journey from data to value.
  • PingCAP ($270 million) an open source distributed (HTAP) database designed to serve as a one-stop service for online transactions and analysis.
  • SentinelOne ($267 million) an automated cybersecurity software designed to protect devices and servers against malware and threats.
  • ($267 million) an autonomous driving technology intended to facilitate manufacturing of automated vehicles.
  • Klaviyo ($200 million) an email and SMS marketing platform designed to pull in data to improve business operations.
  • Better ($200 million) a digitized online mortgage lending platform designed to democratize the home-financing ecosystem.
  • Ambrx ($200 million) a clinical stage biopharmaceutical company trying to deliver breakthrough protein therapeutics using an expanded genetic code.
  • Vimeo ($150 million) a video platform and community intended to create, manage, and share high-quality videos.
  • Current ($131 million) a bank intended to meet the needs of people that have been overlooked by the traditional banking industry.
  • Forter ($125 million) a decision as a service-based online fraud prevention tool designed to help online retailers detect and eliminate transaction risks.
  • Cytek Biosciences ($120 million) a manufacturer and provider of flow cytometry products and services intended to advance cancer and cell biology research.
  • Addepar ($117 million) a wealth management platform designed to aggregate portfolio, market, and client data all in one place.
  • Strava ($110 million) a social application designed to connect athletes worldwide and record and analyze fitness activity.
  • Chainalysis ($100 million) a cryptocurrency investigation and compliance software intended to protect the junction between finance and the decentralized internet.
  • MindTickle ($100 million) a data-driven sales readiness platform designed to maximize business impact across pre- and post-sales teams.
  • Menlo Security ($100 million) a cybersecurity platform designed to eliminate the threat of malware from the web and email.
  • Carbon Health ($100 million) a mobile-based healthcare network and clinics intended to offer simple, convenient and accessible healthcare.

The hottest sectors for funding during the month were BioTech, A.I./Machine Learning, HealthTech and Cybersecurity.

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

  1. BioTech deals included Decibel Therapeutics ($82.2 million), Invivyd ($80 million), Elevation Oncology ($65 million), Nereid Therapeutics ($50 million), Kira Pharmaceuticals ($46 million), Catamaran Bio ($42 million), Kinaset Therapeutics ($40 million), Inipharm ($35 million), FidoCure ($10 million) and Trailhead Biosystems ($6.6 million).
  2. Artificial Intelligence/Machine Learning deals included DataRobot ($270 million), Verbit ($60 million), Flock Safety ($47 million), Buoy Health ($37.5 million), Celona ($30 million), Ushur ($25 million), Logz ($23 million), Chooch ($20 million) and Altana AI ($7 million).
  3. HealthTech deals included Cytek Biosciences ($120 million), Carbon Health ($100 million), Medable ($91 million), Spring Health ($76 million), Eko ($65 million), WithMe Health ($20 million), R-Zero ($15 million), Subtle Medical ($12.2 million) and Upfront Healthcare ($11.5 million).
  4. Cybersecurity deals included SentinelOne ($267 million), Forter ($125 million), Menlo Security ($100 million), JumpCloud ($75 million), Abnormal Security ($50 million), Mati ($13.5 million), DefenseStorm ($12 million) and Ubiq Security ($6.4 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.