Several high-dollar raises rolled into the Bay Area last month, and tech companies spanning sectors like fintech and AI are flush with fresh capital. Read on to find out which names secured September’s highest venture rounds and how they’re investing the money.
Top SF Tech Funding Rounds, September 2023
- Databricks
- Mapbox
- Imbue
- Payjoy
- Alto Pharmacy
#5. $120 million, September 25
Alto Pharmacy, a company offering a digital platform for prescription delivery and patient care, announced a $120 million funding round to further its solution. This latest injection of funding values the company at $800 million. Following its 2022 acquisition of NowRx, the company is currently exploring more acquisition opportunities.
#4. $150 million, September 5
PayJoy secured a round of Series C funding for its mobile security platform. Its solution helps individuals in markets like Mexico and South Africa acquire smartphones to access the modern financial system. Warburg Pincus led the round.
#3. $200 million, September 7
Planning to build out AI systems that can reason and code, research company Imbue secured a round of Series B funding from investors like the Astera Institute and Nvidia. The round brings its valuation to more than $1 billion and totals its venture funding at $220 million. In addition to its work on AI systems, the company wants to build its own AI and machine learning toolset.
#2. $280 million, September 20
Softbank led the latest round of funding for Mapbox, a navigation services company serving big-name customers like Toyota, BMW and Instacart. The company plans to put its Series E toward furthering its AI location services and expanding its automotive customer base. Its AI technology can provide drivers with real-time updates on road conditions and integrate with EV batteries.
#1. $500 million, September 15
Equipped with a fresh round of Series I funding, cloud data company Databricks has achieved a valuation of $43 billion. The company’s Lakehouse product unifies data, analytics and AI to help developers govern, manage and derive insights from enterprise data in order to build generative AI solutions more efficiently. Databricks’ latest round was spearheaded by T.Rowe, Capital One, Nvidia and others.
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