These 5 Bay Area Tech Companies Raised June’s Largest Funding Rounds
The five largest funding rounds among San Francisco tech companies totaled more than $1.2 billion last month, including a $750 million round for a green energy company. As large as that number may seem, it’s slightly less than the $1.4 billion raised by the top five local funding rounds from May. Read on to find out which companies raised funds and how they plan to use their fresh capital.
#5. $115 million, June 16
DataStax secured $115 million, bringing its total valuation to $1.6 billion. Verizon, Audi and hundreds of other large companies use the company’s suite of products to build smart, scalable applications. The company will use the funding to add capabilities to Astra DB, such as integration with Astra Streaming.
#4. $130 million, June 28
Magic Eden raised $130 million in a Series B round, bringing its total valuation to $1.6 billion. Through Magic Eden’s NFT marketplace, creators can customize, market and sell NFTs via the Solana blockchain.
#3. $142 million, June 1
Coralogix secured $142 million in Series D funding, raising the total amount raised thus far to $238 million. The company’s technology provides engineering teams with real-time insights for observability data without the need for storage or indexing. The additional capital will be used to accelerate its vision of in-stream data analysis for logs, metrics, tracing and security.
#2. $150 million, June 22
Cryptocurrency trading platform FalconX raised $150 million, more than doubling its valuation to $8 billion, according to Reuters. The company plans to increase its employee headcount by 30 percent. The additional funding will also be used for new acquisitions, technology and data analytics.
#1. $750 million, June 28
Intersect Power secured $750 million in a growth equity round in June. The company, which develops low-carbon solutions for the retail and wholesale energy markets, plans to use the additional funding to enter into new markets and technologies, including green hydrogen production.
