September 2022 Venture Growth Funding Recap

september monthly funding report

Growthink Capital Research tracked $5.2 billion in new venture funding in September 2022, compared to $4.95 billion in August. 

The month’s biggest funding event belonged to Mysten Labs ($300 million) a tech infrastructure platform for Web3 adoption enabling developers to focus on their user experience, without tackling the complexities of lower-level blockchain integrations.

Twelve companies raised $100 million or more in September. Other than Mysten Labs, the 10 companies which raised the most are as follows:

  1. Wasabi Technologies ($250 million) a simple, predictable cloud storage for businesses all over the world. 
  2. SeatGeek ($238 million) a mobile-focused ticket platform designed to help fans buy and sell tickets for sports, concert and theater events enabling fans to buy and sell tickets in a cost-effective and hassle-free manner.
  3. Capstan Therapeutics ($165 million) a therapeutics targeted delivery platform designed to reprogram immune cells in vivo in a scalable and controlled format. enabling researchers to advance transformative products for oncology, fibrosis, and inflammation-related diseases and blood monogenic disorders.
  4. Alloy ($152 million) an identity verification platform that checks fraud and increases overall security enabling banks and fintech companies to automate their identity compliance and fraud decisions.
  5. Patra ($146 million) an insurance processing service that enables insurance brokers to issue certificates fast and efficiently enabling clients to get profitable growth and organizational value.
  6. Denim ($126 million) a financial enablement platform for the logistics industry that offers an ecosystem of intelligent financial products, operations tools, and time-saving automation ultimately reducing daily payments and collections tasks by 75%.
  7. VTS ($125 million) a leasing and asset management platform that helps commercial real estate professionals enabling office, retail, and industrial landlords and brokers to transform their leasing process and convert leads to leases efficiently.
  8. Moxion Power ($100 million) a zero-emission generator and off-road equipment that meets temporary power requirements enabling clients from the construction industry, events and entertainment, utilities, EV fleet operators, and government agencies to get their temporary energy needs met in an eco-friendly manner.
  9. Galvanize Therapeutics ($100 million) an energy-based medical device technology that improves biological processes enabling medical professionals to deliver improved healthcare services to patients.
  10. True Food Kitchen ($100 million) a restaurant chain committed to sourcing responsible, creative and the freshest in-season ingredients providing healthy and fresh foods.

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

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

  1. A.I./Machine Learning deals included Sitetracker ($96 million), Workstream ($60 million), Arthur ($42 million), Arize AI ($38 million), Fairmarkit ($36 million), 4M Analytics ($30 million), Noodle ($25 million), Kumo ($18 million), XP Health ($17 million), Arpeggio Biosciences ($17 million), Superb AI ($16 million), Falkon ($16 million), Invisible AI ($15 million), Spice AI ($13.5 million), Voxel51 ($12 million), Sigmoid ($12 million), DocSpera ($10 million) and Alitheon ($10 million).
  2. Cryptocurrency/Blockchain deals included Mysten Labs ($300 million), Strike ($80 million), Doodles ($54 million), MPCH Labs ($40 million), Messari ($35 million), Magna ($15 million), Slide ($12 million), Aikon ($10 million), Niftify ($7.9 million) and Skip Protocol ($6.5 million).
  3. FinTech deals included Denim ($126 million), Solid ($63 million), AccessFintech ($60 million), Ethic ($50 million), Scratch Financial ($35 mill, ), Brightflow AI ($19.2 million), Ratio ($11 million), Fondue ($10.5 million), Chargezoom ($10 million) and Future Card ($5.3 million).
  4. Cybersecurity deals included Alloy ($152 million), Bitwarden ($100 million), Fortanix ($90 million), Cymulate ($70 million), Sardine ($5 million), Isovalent ($40 million), Open Raven ($20 million), Theom ($16 million) and Onyxia ($5 million).
  5. BioTech deals included Capstan Therapeutics ($165 million), Photys Therapeutics ($75 million), Pheon Therapeutics ($68 million), ILiAD Biotechnologies ($43 million), Prolific Machines ($42 million), Innervace ($40 million), EnPlusOne Biosciences ($12 million) and Harmonic Discovery ($8 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 investors who are looking to invest in companies that they find to be fundable.

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

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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