11 SF Startups, Including Geltor and Freshworks, Raised $500M+ Last Week

by Jeremy Porr
August 3, 2020
A shot of the San Francisco skyline.
photo: Shutterstock

Geltor landed $91.3M. The biodesign startup’s Series B round was led by CPT Capital. Geltor will use the new funds for general growth efforts with a primary focus on helping more companies build sustainable products. The company creates proteins like elastin and collagen that are used in beauty, food and beverage products. [Crunchbase]

Freshworks grabbed $85M. The additional cash infusion from Steadview Capital brings the company’s valuation to more than $3.5 billion. The customer engagement software company will use the new financing to fuel a hiring effort. Freshworks now has open roles in San Mateo and Denver listed for engineers, human resources professionals, marketers and more. [Built In SF]

Eargo raised $71M. The healthtech startup’s Series E round was co-led by Glide Healthcare and Longitude Capital. Eargo, which specializes in crafting direct-to-consumer hearing aids, will use the fresh capital to expand on commercialization efforts. The new money brings Eargo’s total funding to at least $206.6 million. [Crunchbase]

Tempo brought in $60M. The Series B round for the fitness-tech startup was led by Norwest Venture Partners and General Catalyst. Tempo’s free-standing virtual studio provides consumers who want to work out at home with an interactive, virtual fitness regime. The latest round puts the company at an estimated $250 million valuation. [Built In SF]

Density scored $51M.  The people-counting platform’s Series C round was led by Kleiner Perkins and 01 Advisors, and other investors included former New York Yankees slugger Alex Rodriguez. Density’s technology allows enterprises to track how many employees or customers are inhabiting an enclosed space at a given time. The startup will use the additional funding to double down on growth and product development. [Built In SF]

Chorus.AI raised $45M. The sales tech platform closed a Series C round led by Georgian Partners. The conversation intelligence technology uses AI to identify language patterns and conversational themes within sales talks. The company will use the new capital to expand its go-to-market team and invest in product research. [Built In SF]

True Link Financial got $35M. The fintech company’s Series B round was led by Khosla Ventures with additional participation from Centana Growth Partners. The latest round brings the company’s valuation to around $115 million. It will use the new funds to invest in product research and add credit-based services to its list of offerings. [TechCrunch]

Lemonaid Health grabbed $33M. The oversubscribed Series B round was led by Olive Tree Ventures. The company began in 2013 as a direct-to-consumer primary care platform. It will use the fresh capital to expand its team of medical professionals and increase the number of services offered to patients. The company currently has 75 employees but plans to add more than 250 people to its team by 2022. [Crunchbase]

Instrumental raised $20M. The manufacturing optimization platform’s Series B round was led by Canaan Partners. The company’s cloud-based platform identifies manufacturing assembly issues in real time. The additional money will be used to “aggressively” ramp up Instrumental’s hiring efforts. The startup is looking to fill leadership roles in engineering, finance and operations. [Built In SF]

The AI Foundation brought in $17M. The company’s platform allows people to construct digital personas that mirror their own images. The AI Foundation intends to develop ethical AI agents, known elsewhere as deep fakes, that can be trained to complete tasks. According to the company, the new financing will be used to scale its platform. [VentureBeat]

OpenSpace grabbed $15M. The AI-based platform helps construction companies virtually map out their work sites. The Series B round was led by Menlo Ventures. The company plans to use the additional funds to build out new tools for its platform. OpenSpace is also hiring for several roles across its engineering, marketing, sales and design teams. [Built In SF]

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