Several companies raised massive rounds last week while others landed new office space. Check out the latest developments from the Bay Area tech scene. This is the Built In SF weekly refresh.
Fivetran raised $565M. The Series D for the data analytics company was led by Andreessen Horowitz and more than quadrupled the company’s valuation to $5.6 billion. At the time of its Series C in June of 2020, the unicorn was valued at $1.2 billion. Since launching in 2012, the Oakland-based company has raised a total of $730 million in venture capital financing. [Built In SF]
Iron Ox brought in $53M. Founded in 2015, Iron Ox develops autonomous farming technology with an intent to reduce the carbon footprint of the agricultural industry. The Series C, led by Breakthrough Energy Ventures, will be used to help the company scale its research and development programs and expand its operations across the United States. The company is currently recruiting plant scientists, engineers, greenhouse operators and roboticists. [Business Wire]
SF Tech Quote of The Week
FLYR Labs grabbed $150M. The Series C for the RevOps platform was led by WestCap. FLYR’s AI-driven cloud-based software is used to contextually analyze massive amounts of data for those working in the airline, travel and transportation industries. The fresh financing will be used to expand the company’s product offerings, scale delivery capacity and support strategic acquisitions. FLYR’s team is expanding as well. The company expects to grow its headcount to more than 200 employees by the end of the year. [Built In SF]
Bigeye landed $45M. The data analytics company secured its Series B less than six months following its Series A. The Coatue-led round will be used to fund growth across Bigeye’s engineering, product and go-to-market teams. The 25-person company plans to nearly double in size by the end of the year. [TechCrunch]
Modern Treasury lands new digs. The fintech company just secured a 12,537-square-foot space on the fourth floor of 77 Geary St., near Union Square. The company, which builds automated payments software for businesses, plans to open an additional office in New York City by the end of the year. With all its newfound office space, Modern Treasury has its eyes set on expanding its team. The 45-person company plans to reach a headcount of 65 to 70 by the end of the year. [San Francisco Business Times]
More Funding News
Loyal raised $27M. The Series A for the pet tech company was led by Khosla Ventures. Loyal develops pharmaceutical therapeutics aimed at extending a dog’s lifespan. Founded in 2019, the company has raised $38 million in financing to date. Over the past year, Loyal has grown from a team of three to a team of 30. The company will use the fresh financing to further product research and build out its computation biology team. [TechCrunch]
Stairwell grabbed $20M. The Series A for the cybersecurity company was co-led by Sequoia Capital and Accel. Stairwell’s threat detection platform, Inception, starts by looking inwards at a company’s data. The fresh raise comes less than a year after the company’s seed round and will be used to increase its headcount. [TechCrunch]
1build landed $19.5M. The total amount for the data platform’s latest round includes a $14 million Series A led by Greycroft Capital. 1build’s platform uses real-time data to accurately estimate the costs of construction. The cloud-based API platform will use the fresh financing to accelerate product research and development as it continues to scale. [PR Newswire]
