October 2020 Growth Funding Recap

Growthink.com growth-funding-rounds

Growthink Capital, our investment banking arm, just released its analysis of growth funding events that occurred during October.

It tracked $6.4 billion in new venture funding in October 2020, up from $5.7 billion in September. The month’s biggest funding event belonged to the food/alcohol/snack delivery company GoPuff, which raised $380 million.

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

  • Scopely ($340 million) an interactive entertainment platform.
  • Unqork ($207 million) a no-code application development platform that helps organizations build custom software.
  • Arctic Wolf ($200 million) a cloud security platform designed to keep your valuable business data safe.
  • Instacart ($200 million) a grocery delivery company.
  • Redaptive ($156 million) an energy system upgrade services intended to permit organizations to accelerate efficiency upgrades.
  • Benson Hill ($150 million) a crop design platform to develop healthier and more sustainable crops.
  • Tipalti ($150 million) a cloud-based automation platform designed to eliminate mass payment workload and reduce automation payment risk.
  • Honor ($140 million) a home-care service offering expert and professional in-home care services for elders.
  • Getaround ($140 million) a carsharing platform
  • Eightfold AI ($125 million) a talent intelligence platform to help companies find, recruit and retain workers.
  • Applied Intuition ($125 million) an advanced simulation infrastructure software designed for autonomous vehicles.
  • Perch ($123.5 million) a technology-enabled consumer products company that acquires and develops e-commerce brands.
  • SimilarWeb ($120 million) a digital market intelligence platform that offers global multi-device market insights through artificial intelligence.
  • Ordermark ($120 million) an online ordering management platform that helps restaurants manage online orders and other management operations.
  • 98point6 ($118 million) an on-demand, text-based primary care platform to make healthcare more accessible and affordable.
  • Talaris Therapeutics ($115 million) a biotechnology company that assists in the development of innovative cellular therapies.
  • Scorpion Therapeutics ($108 million) a developer of cancer treatments
  • AavantiBio ($107 million) a gene therapy designed to transform the lives of patients with rare genetic diseases.
  • Sirnaomics ($105 million) a developer of novel targeted therapeutics intended to treat critical human diseases.
  • Bind Benefits ($105 million) offers personalized health plans
  • WHOOP ($100 million) a wearable performance optimization device to provide personalized insights to improve overall fitness.
  • Newfront Insurance ($100 million) an insurance brokerage technology that assists businesses in purchasing insurance packages.
  • BrightFarms ($100 million) a producer of green salads to give people access to fresh locally produced greens.
  • Avail Medsystems ($100 million) a procedural telemedicine solution.
  • Dialpad ($100 million) a business communications platform that offers cloud-based solutions for businesses to communicate effectively.

The hottest sectors for funding during the month were BioTech, FinTech, Cybersecurity, Artificial Intelligence/Machine Learning and TeleHealth.

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

  1. BioTech deals included AavantiBio ($107 million), Sirnaomics ($105 million), Q32 Bio ($60 million), Dren Bio ($60 million), Nimbus Therapeutics ($60 million), Be Biopharma ($52 million), Walden Biosciences ($51 million), RayzeBio ($45 million), InCarda Therapeutics ($30 million), Scribe Therapeutics ($20 million), Solarea Bio ($11 million) and Lassogen ($5 million).
  2. FinTech deals included DriveWealth ($57 million), Chargebee ($55 million), M1 Finance ($45 million), Shogun ($35 million), Bluefin ($25 million), Zest AI ($15 million), Lili ($15 million), Bloom Credit ($13 million), Possible Finance ($11 million), Transcend Street ($10 million), StreetShares ($10 million), Polygon ($6 million), Finmark ($5 million) and Clair ($5 million).
  3. Cybersecurity deals included Arctic Wolf ($200 million), Onapsis ($55 million), 4iQ ($30 million), Illusive Network ($24 million), Fossa ($23 million), Sonrai Security ($20 million), Unit21 ($13 million), Eclypsium ($13 million), Strider Technologies ($10 million), StackHawk ($10 million), Cyberpion ($8 million), NormShield ($8 million) and Secureframe ($5 million).
  4. Artificial Intelligence/Machine Learning deals included SimilarWeb ($120 million), Hyperscience ($80 million), Lark Health ($55 million), Matroid ($20 million), Grid AI ($19 million), Robust.AI ($15 million), Skan ($14 million), Robust Intelligence ($14 million), Theta Lake ($13 million), Capacity ($11 million), and Balto ($10 million).
  5. TeleHealth deals included 98point6 ($118 million), Avail Medsystems ($100 million), TigerConnect ($45 million), eVisit ($14 million), Curve Health ($6 million) and Nice Healthcare ($5 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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