Prime Roots Raised $30M, Zip Secured $100M, and More SF Tech News

Catch up on the latest tech developments from the Bay Area.
Written by Ashley Bowden
May 22, 2023Updated: May 31, 2023
Prime Roots' freshly sliced plant-based deli meat.
Prime Roots' freshly sliced plant-based deli meat. | Photo: Prime Roots

From foodtech to construction, startups in a wide range of sectors saw fresh funding last week. Find out which local innovators are growing with the Built In SF Weekly Refresh.

Zip pulled in $100M. Zip’s intake-to-pay platform lets employees initiate and complete purchases or vendor requests. The company announced a Series C round of funding that brings its valuation to $1.5 billion. Its new capital will go toward building out its team in its San Francisco headquarters as well as offices in Dallas, Texas, and Toronto, Canada. [Business Wire]

Hippocratic AI raised $50M. General Catalyst and Andreessen Horowitz led a sizable seed funding round for Hippocratic AI, a solution that develops large language models specifically for healthcare applications. The company launched out of stealth to pursue its goal of increasing the supply and scalability of healthcare professionals. [Globe Newswire]

SF Tech Quote of the Week

“Deploying artificial intelligence to a rich database of signals about the hourly labor force is revolutionizing how businesses connect with the skilled workers they need. Instawork allows businesses to streamline their staffing process, reduce costs and focus on their top priorities. We provide businesses with a flexible and reliable solution for finding skilled workers, while also empowering local workers to choose the work that best fits their skills and interests.”— Sumir Meghani, Instawork co-founder and CEO

Instawork secured $60M. With Series D funding led by TCV, Instawork will invest further in its mobile app. The company’s solution uses AI to match businesses with skilled hourly workers. Over the past two years, the company has recorded 15x growth and has come to serve 4 million workers. The new capital will let Instawork provide workers with access to training and certification opportunities. [NewsWire]

Prime Roots secured $30M. The foodtech company produces deli meats out of koji mycelium. This Series B capital from investors including True Ventures and Pangaea Ventures will enable Prime Roots to expand its products into delis and restaurants across the country. The company produces plant-based alternatives to cracked pepper turkey, black forest ham, hickory bacon, salami and pepperoni. [PR Newswire]

In more VC funding news: Mental healthcare platform Octave secured $22 million toward its previously announced Series B round to help meet increased demand for its tech. [Built In SF]

Planera, a San Jose-based company that operates construction project management software, pulled in $5.4 million to build out new platform functionalities. [Built In SF]

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