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This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.
This week has been a busy one for good-sized rounds, led by $500 million financings for crypto unicorn Ripple and AI-enabled parking provider Metropolis. We also saw multiple large financings for biotech startups, plus some big rounds for cybersecurity and enterprise software.
1. (tied) Ripple, $500M, cryptocurrency: San Francisco-based crypto payments company Ripple raised $500 million at a $40 billion valuation. Funds managed by affiliates of Fortress Investment Group and Citadel Securities led the investment, along with Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.
1. (tied) Metropolis, $500M, parking: Metropolis, an AI-powered checkout-free parking platform, announced that it has secured $1.6 billion in debt and equity financing, including a $500 million Series D at a $5 billion valuation. LionTree led the equity financing for Los Angeles-based Metropolis, while JP Morgan Chase Bank provided a $1.1 billion term loan.
3. Armis, $435M, cybersecurity: Armis, a provider of tools for monitoring cyber risk exposure, closed on $435 million in what it described as pre-IPO funding round. Goldman Sachs Growth Equity led the financing, which set a $6.1 billion valuation for the 10-year-old, San Francisco-based company.
4. Synchron, $200M, neurotech: Synchron, a developer of nonsurgical brain-computer interface technology, picked up $200 million in Series D funding led by Double Point Ventures. The New York-based company wants to use its technology to restore communication and mobility for people with paralysis.
5. Hippocratic AI, $126M, healthcare AI: Hippocratic AI, a developer of generative AI healthcare agents, landed $126 million in Series C financing. Avenir led the round, which set a $3.4 billion valuation for the Palo Alto, California-based company.
6. MoEngage, $100M, marketing automation: MoEngage, an AI-enabled customer engagement platform, raised $100 million in new financing, with reportedly 60% going to the company and 40% going to secondary share sales. Goldman Sachs Alternatives and A91 Partners led the financing.
7. Infravision, $91M, aerial robotics: Infravision, a company that aims to transform how power lines are built and maintained with aerial robotics, raised $91 million in Series B funding. Singapore’s GIC led the financing for the 7-year-old, Austin-based startup.
8. Reevo, $80M, AI go-to-market tools: Santa Clara, California-based Reevo, developer of an AI platform for managing go-to-market strategy and processes, launched publicly and announced it has raised $80 million in funding co-led by Khosla Ventures and Kleiner Perkins.
9. Neok Bio, $75M, biotech: Palo Alto, California-based Neok Bio, a startup focused on developing antibody drug conjugates for improving cancer outcomes, emerged from stealth with $75 million, backed by Korean biotech ABL Bio.
10. Azalea Therapeutics, $65M, genomic medicines: Berkeley, California-based Azalea Therapeutics, a developer of precision genomic medicines, launched from stealth and announced it has raised $65 million in a Series A led by Third Rock Ventures.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Nov. 1-7. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.
Illustration: Dom Guzman
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