The Bay Area’s Top 5 Tech Funding Rounds Totaled $3.5B in August

Read on to see how these local companies are investing their fresh capital.

Written by Ashley Bowden
Published on Sep. 01, 2021
The Bay Area’s Top 5 Tech Funding Rounds Totaled $3.5B in August
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photo: shutterstock

The summer sun is ablaze over the Bay Area as venture activity continues to heat up the city’s tech scene. With a 10-digit round topping off the list for August’s largest raises, check out what’s in store for these companies and see which of them are hiring.

 

#5. $230 million, August 12

Acting as a virtual contact center, cloud-based SaaS platform Talkdesk is working to help businesses improve their customer service. More than 1,800 enterprises use Talkdesk’s software across 10 different countries, and, as it continues to scale, the company is investing $230 million in product research and development. It’s also building out its team with hopes to keep up the pace after doubling its staff to 2,000 last year.

 

#4. $410 million, August 12

As the social media giant continues its rapid growth, it pulled in another hefty venture funding sum. With plans to close out its Series F round at $700 million, Reddit announced the injection of $410 million led by Fidelity. It’s furthering growth by building out its team, with over 150 available positions, as well as taking initiatives toward maturing its business like moderating certain content on its site. The company is valued at $10 billion.

 

#3. $500 million, August 13

Carta develops capitalization table management software, and it recently closed on a new round of funding to further its tech. The Series G, led by Silver Lake, follows about a year after the company’s previous round. The additional $500 million investment brings Carta’s current valuation up to $7.4 billion.

 

#2. $750 million, August 18

On its mobile app, fintech company Chime offers users checking accounts, saving accounts and credit cards. The company has grown rapidly, now boasting a $25 billion valuation following its $750 million funding round. Sequoia led the raise that will enable Chime to invest in its upcoming IPO as well as continue its hiring efforts across departments like data, design, engineering and finance.

 

#1. $1.6 billion, August 31

The company provides more than 5,000 organizations around the world with a solution to help unify their data, analytics and AI. Its software allows customers to build data lake houses on platforms like AWS, Microsoft Azure and Google Cloud, giving them a central place to support their data and analytics workload. Databricks’ Series H round was led by Counterpoint Global and allows the company to increase adoption of its product.

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