Lyra Health Raised $200M, Secfi Got $150M, and More Bay Area Tech News

Plenty of Bay area tech companies are fueling company growth after a lucrative week of venture funding. Find out which companies are advancing their tech and growing their teams. This is the Built In SF weekly refresh.

Written by Ashley Bowden
Published on May. 25, 2021
Lyra Health Raised $200M, Secfi Got $150M, and More Bay Area Tech News
Lyra Health / Facebook
photo: Lyra Health / Facebook

Plenty of Bay area tech companies are fueling company growth after a lucrative week of venture funding. Find out which companies are advancing their tech and growing their teams. This is the Built In SF weekly refresh.

Lyra Health secured $200MLast week, the company announced its latest raise, led by Coatue, that’ll boost its valuation to $4.6 billion. Focusing on the mental-health space, Lyra Health helps companies offer their employees support like virtual therapy sessions. As this company and others in the healthtech sector have seen consistent VC investments, they’re projected to see continued growth even after the pandemic. [The Information]

Secfi raised $150MSerengeti Asset Management led the latest funding round for the fintech company, totaling Secfi’s venture capital sum at $707 million. Its platform provides tools to help startup employees manage their equity compensation. Following this raise, the company plans to fuel the growth of its platform. [Built In SF]

SF Tech Quote of the Week

“Even the 1 percent of merchants that are being served today are utilizing a sub-optimal solution that’s not technology focused ... and isn’t focused on serving customers in a modern way. So we’ve seen a tremendous demand and acceptance from merchant partners, which has led to significant growth in protection plan sales.” —Woodrow Levin, Extend CEO and co-founder

Extend pulled in $260MOffering a digitally native API solution to help merchants offer extended warranties and protection plans, new unicorn Extend closed on its Series D round led by SoftBank Vision Fund 2. It plans to invest in international expansion, product development and doubling its 200-person headcount by the end of the year across a wide range of roles. [Built In SF]

Figure got $200MThe fintech company announced its Series D round co-led by investors 10T Holdings and Morgan Creek Digital. Figure employs blockchain for various financial purposes from loan origination to banking and payments. With the capital, it’s planning to continue along its mission of reinventing the financial services industry. [Business Wire]

Good Meat raised $170MAvoiding slaughter to produce meat, this foodtech company does so using animal cells. Following its latest round of funding, Good Meat wants to increase its capacity and accelerate R&D for its product. Investors including UBS O’Connor, Graphene Ventures and K3 Ventures contributed to the round. [FinSMEs]

Loom pulled in $130MServing 120,000 enterprises across the globe, video messaging platform Loom allows team members to capture and send messages instantly. Having closed on its A16z-led Series C round, the company is now valued at $1.53 billion. It’s investing in product innovation and globally scaling its operations. Loom is also hiring for engineering and data positions at its SF headquarters. [Built In SF]

Super secured $50MOffering a subscription-based home repair platform, insurtech company Super works to connect homeowners with service providers at lower costs. With its new capital, the company is investing in offering additional services and moving forward with its hiring plans. Super currently has availability for several executive roles. Wells Fargo led the Series C. [Built In SF]

In other VC funding news: Digital marketplace startup Heyday announced its $70 million Series B funding, led by General Catalyst, to accelerate as it acquires and grows consumer brands. [Crunchbase News]

Oakland-based Terviva just raised $54 million to continue its work in the agtech space. The company produces sustainable pongamia trees that are rich in protein, and it plans to open a food manufacturing facility by next year. Goodwater Capital led the raise. [AgFunder Network]

New to the Bay Area tech scene is Palo Alto-based Jerry, an auto-focused insurtech startup. It launched from stealth with $57 million in Series B funding for its AI- and machine learning-powered mobile app. [PR Newswire]

Hiring Now
Benchling
Cloud • Healthtech • Software • Biotech