San Francisco’s Top Tech Funding Rounds Totaled $1.45B in April
Bay Area tech companies brought in several funding rounds in April. The five companies that raised the most last month span various industries, including insurtech, cryptocurrency and food tech. Keep reading to find out what these companies are up to next and how they plan to use their latest investments.
#4 (tied). $200 million, April 12
Newfront gained a $200 million investment co-led by Goldman Sachs’ Growth Equity business and B Capital. This funding round brought Newfront’s valuation to $2.2 billion and will be used to hire more tech professionals. Newfront’s platform helps companies and clients with insurance and retirement solutions.
#4 (tied). $200 million, April 6
Binance.US is a cryptocurrency exchange platform and is considered to be one of the largest in the world. The company raised over $200 million, making its pre-money valuation $4.5 billion. Binance.US is also aiming for an IPO in two to three years.
#3. $300 million, April 5
Remote helps companies recruit and retain a remote workforce while also complying with local and international regulations. Remote received a Series C round that will go toward adding more features and products to the company’s offerings. This round brings the tech unicorn’s valuation to nearly $3 billion.
#2. $350 million, April 6
Blockchain company Near Protocol, which produces the token NEAR, gained $350 million led by Tiger Global. The funding round comes less than three months after it raised $150 million.
#1. $400 million, April 21
UPSIDE Foods wants to change the way humans obtain meat by using animal cells to grow cultivated meat products. The company gained $400 million in a Series C round, which solidified it as a tech unicorn. Now valued at more than $1 billion, UPSIDE Foods plans to use its latest funding for research and development and to increase the size of its team. It currently has several positions available across tech ops, R&D, people, quality and other departments.
