Last month brought a slew of funding announcements out of the Bay Area tech scene. Collectively, the top five funding rounds pulled in $1.04 billion to fund innovation and growth at local tech companies across industries. That’s a little lower than the $1.2 billion June’s top five funding rounds totaled but impressive nonetheless. Read on to find out which companies raised funds and how they plan to use their fresh capital.
#5. $116 million, July 12
SingleStore, a relational database provider, raised $116 million in Series F funding led by Goldman Sachs. This funding brought the company’s total capital raised to date to $382 million and launches SingleStore into unicorn status. SingleStore allows companies to understand how different pieces of data relate to each other through search queries.
#4. $125 million, July 21
ClassDojo, an fully-remote edtech company, announced it raised $125 million in Series D funding led by Tencent. The company, now valued at $1.25 billion, plans to use its new funds to invest in developing a metaverse for students where they can spend time after school building skills unrelated to classroom content.
#3. $150 million, July 25
Based in Palo Alto, Aptos Labs is a Web3 company that raised $150 million in Series A funding co-led by FTX Ventures and Jump Crypto. The company’s Diem blockchain technology was first developed while Aptos’ founding members were working at Meta, before the company shut down the Diem project. Aptos plans to use its fresh capital to hire more developers and build new initiatives, such as ecosystem funds.
#2. $250 million, July 8
Coalition, a holistic cybersecurity company, raised $250 million in Series F funding co-led by Allianz X, Kinetic Partners and Valor Equity Partners. The funding round brought Coalition’s valuation to $5 billion. The company provides cybersecurity insurance, a real-time risk assessment tool and incident response support.
#1. $400 million, July 6
Xpansiv Limited, a carbon and environmental commodities marketplace, raised $400 million in strategic investment from Blackstone. The company connects buyers and sellers of environmental commodities and provides market data for voluntary decarbonating efforts. The new funds will help Xpansiv grow organic initiatives and fund future acquisitions.
