Following a busy month of funding announcements, Bay Area tech companies are making big moves. From fintech leaders to plant-based protein providers, read on to learn more about the latest news from several local startups and how they plan to invest their newly acquired capital.
#5. $350 million, Sept. 30
Perfect Day’s signature offering, an animal-free milk protein, is created by using microflora. The Series D for the Berkeley-based startup was co-led by Temasek and Canada Pension Plan Investment Board. Founded in 2014, the Perfect Day platform also helps companies develop, scale and commercialize their own sustainable products. Following the latest round, the company has raised a total $750 million in venture capital financing.
#4. $500 million, Sept. 16
The Series D for the healthcare software company is the total sum of two financing rounds. All told, the fresh capital sent the unicorn’s valuation soaring to $3.5 billion. Commure’s platform provides health vendors and startups with a virtual space to build healthcare applications and software. The company will use the additional capital to expand its team as it continues to scale. Commure is now hiring for dozens of positions across its product, engineering and sales teams.
#3. $500 million, Sept. 16
Discord began as a virtual chat space for video game players to gather and discuss the latest in gaming-related tips, cheats and industry trends. Now, the company is looking to broaden its user base to create space for interests outside of gaming. The latest raise, led by Dragoneer Investment Group, reportedly put Discord at a $15 billion valuation. The company is now hiring for dozens of open jobs, with roles across engineering, data science, customer experience, marketing, product and more.
#2. $510 million, Sept. 9
The oversubscribed round, led by Lone Pine Capital, is the company’s second fundraise this year. In February, Varo closed on a $63 million round led by Russell Westbrook Enterprises. Over the last 14 months, Varo has doubled the amount of its opened accounts to four million and tripled the size of its revenue, according to the company. Following the latest raise, Varo plans to launch a range of new financial products. The company is now hiring for over 50 positions across its engineering, data, design, marketing and product teams, to name a few.
#1. $565 million, Sept. 20
Fivetran helps organizations harvest data from multiple sources and store it in a single cloud information warehouse. The massive Series D round was led by Andreessen Horowitz and sent the company’s valuation skyrocketing to $5.6 billion. That number represents a huge jump for Fivetran, which just secured its unicorn status in June of 2020. In addition to the funding, the company announced its plans to acquire San Francisco-based HVR for $700 million in stocks and cash.
