12 Bay Area Startups, Led by Robinhood, Raised $970M+ Last Week

Robinhood and Coursera led the pack with a combined total of $450 million in new venture capital announced last week alone.

Written by Jeremy Porr
Published on Jul. 20, 2020
12 Bay Area Startups, Led by Robinhood, Raised $970M+ Last Week
A look down Market Street in San Francisco
photo: Shutterstock

Robinhood raised $320M. The latest round for the fee-free trading app brings the company’s total valuation to $8.6 billion. The new funding comes from new and existing investors, including TSG Consumer Partners and IVP. The Menlo Park-based company said it would use the new capital to build new products and accelerate growth. In addition to commission-free trade in stocks, Robinhood also provides cryptocurrency trading services. [Bloomberg]

Coursera raised $130M. The Mountain View-headquartered online learning platform has now hit a reported $2.5 billion valuation. The company offers access to classes taught by professors at top universities, an in-demand product thanks to the pandemic. The round was led by NEA with participation from Kleiner Perkins and G Squared. [Forbes]

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Skydio got $100M. The autonomous drone startup closed on a Series C round led by Next47 and included new investors Levitate Capital and NTT DOCOMO Ventures as well as several existing investors. The Skydio drone, first launched in 2018, has recently received software updates and is currently available for order. [TechCrunch]

SocialChorus grabbed $100M. The latest round for the workforce communication platform was led by Sumeru Equity Partners, along with several existing investors. The Redwood City company intends to use the new capital to further its general growth efforts and innovate new products. The SocialChorus platform enables enterprises to plan, publish, create and measure employee communications. [FinSMEs]

Bolt raised $50M. The latest round for the e-commerce checkout platform was led by Westcap’s Laurence Tosi with additional participation from several existing investors including Tribe Capital and Activant Capital, among others. The Bolt platform manages the back-end of the checkout process for online retailers in order to provide a more seamless front-end experience for online shoppers. [Built In SF]

Lattice got $45M. The Series D round was led by Tiger Global with additional participation from Frontline Ventures and Founders Fund. The Lattice management suite provides businesses with a virtual space for employees to conduct performance reviews. According to the company, the additional capital will be used to expand the size of its engineering and product teams in addition to furthering the development of existing and future products. [Built In SF]

Gem grabbed $37M. The latest round for the job recruiting platform was led by Greylock and Accel. The company intends to use the additional capital in order to double down on product innovation. Over 300 companies use the Gem platform to recruit new hires, including Slack and DoorDash. [GlobeNewswire]

Bond raised $32M. The Series A for the fintech platform was led by Coatue, with participating investors Canaan, Goldman Sachs and Mastercard. According to the company, the new capital will be used to expand the size of its team and assist in the launch of new products. [PRNewswire]

Traceable got $20M. The app security platform recently launched from stealth in a Series A led by Unusual Ventures and BIG Labs. TraceAI, the platform’s machine learning technology, accumulates data on normal app behavior and uses it to detect any unusual activity in the future. [FinSMEs]

Gyant raised $13.6M. The virtual assistant platform closed on a Series A led by Wing Venture Capital. Gyant’s platform can be incorporated into healthcare websites to help potential patients receive the care that they need without overrunning local hospital call lines. [Crunchbase]

Abacus got $13M. The AI research and cloud services company closed on a Series A round led by Index Ventures with participation from several others. The company intends to use the new capital to grow its research team and appropriately scale its service. The company recently announced the launch of a fully autonomous AI service that will allow developers and data scientists to share and compare deep learning models. [FinSMEs]

Qualio secured $11M. The cloud-based quality management system closed on a Series A round led by Storm Ventures. The company will use the funds to scale its software and continue growth. The Qualio system provides medical device and pharmaceutical companies with scalable quality management solutions. [PRNewswire]

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