October 2021 Venture Growth Funding Recap

raising capital funding

Growthink Capital Research tracked $12.0 billion in new venture funding in October 2021 up from $10.3 billion in September 2021. 

The month’s biggest funding event belonged to Thrasio, an e-commerce and retail brand that acquires and cultivates category-leading products that people demand.

Forty companies raised $100 million or more in October. Other than Thrasio, the 10 companies which raised the most are as follows:

  1. Orca Security ($550 million) a cloud-based security platform that delivers comprehensive full-stack visibility into cloud infrastructure.
  2. Magic Leap ($500 million) a virtual computing interface system that seamlessly combines digital and physical lives through computer-generated 3D imagery.
  3. Saama ($430 million) an enterprise platform that assists medical companies in assessing business risk decisions. 
  4. Deel ($425 million) a payroll platform that reimagines payouts for businesses working with global remote contractors.
  5. Honor ($370 million) a provider of home-care services that offers expert and professional in-home care services for elders.
  6. Dutchie ($350 million) an online marketplace to connect consumers to local dispensaries for cannabis.
  7. Perfect Day ($350 million) animal-free milk substitutes and proteins that offer protein nutritionally identical to that of cow’s milk.
  8. Medable ($304 million) a cloud-based platform that provides effective therapies to patients.
  9. VideoAmp ($275 million) an integrated screen optimization platform to bring television and digital video advertising together.
  10. ClickHouse ($250 million) an online analytical processing (OLAP) database management system for real-time analytics.

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

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

  1. A.I./Machine Learning deals included Saama ($430 million), Augury ($180 million), Weights & Biases ($100 million), SkyHive ($40 million), Anomalo ($33 million), Neural Magic ($30 million), Duality ($30 million), Modern Age ($27 million), AiDash ($27 million), Deep North ($16.7 million), and Akridata ($15 million).
  2. Cybersecurity deals included Orca Security ($550 million), Dragos ($200 million), Aura ($200 million), Sonrai Security ($50 million), Skyflow ($45 million), SlashNext ($26 million), Picus Security ($24 million), TripleBlind ($24 million), and Shift5 ($20 million).
  3. InsurTech deals included At-Bay ($205 million), Sure ($100 million), Ladder ($100 million), Coterie Insurance ($50 million), Stride Health ($47 million), Sana ($20 million), Homee ($17 million), and SkyWatch/Voom ($15 million).
  4. BioTech deals included Structure Tx ($100 million), Neumora Therapeutics ($100 million), Cedilla Therapeutics ($82.6 million), Intergalactic Therapeutics ($75 million), Mozart Therapeutics ($55 million), Alto Neuroscience ($32 million), and Kingdom Supercultures ($25 million).
  5. FinTech deals included Betterment ($160 million), Republic ($150 million), Tifin ($47 million), Extend ($40 million), Atomic Financial ($22 million), Copper Banking ($13.3 million), and Ando ($6 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.