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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.
Sizable startup funding announcements continued to roll in this week, with the largest rounds coming in the form of growth equity investments to Quavo Fraud & Dispute Solutions and Vanta, two companies in the dispute and risk management spaces. We also saw good-sized financings tied to AI and biotech.
1. Quavo, $300M, dispute management: Dispute management software provider Quavo announced that it secured $300 million in a growth equity investment from Spectrum Equity. The 10-year-old Wilmington, Delaware-based company offers tools for banks, credit unions and fintechs to manage consumer transaction disputes.
2. Vanta, $150M, compliance and risk management: Vanta, developer of AI-enabled tools for enterprise compliance and risk management, raised $150 million in Series D funding. Wellington Management led the financing, which sets a $4.15 billion valuation for the San Francisco-based company.
3. Armada, $131M, edge computing: San Francisco-based Armada, developer of an edge computing platform for communications-challenged areas, locked down $131 million in fresh funding. It plans to use the funds to scale Leviathan, its megawatt-scale, full-stack modular data center.
4. HeroDevs, $125M, enterprise software: Salt Lake City-based HeroDevs, a provider of security and compliance tools for deprecated open source software, picked up $125 million in a growth financing round led by PSG Equity.
5. Reka, $110M, artificial intelligence: Reka, a provider of multimodal AI research and product development tools, said it landed $110 million in a round backed by Nvidia and Snowflake. The financing brings total known funding for the 3-year-old, Sunnyvale, California-based company to $170 million, per Crunchbase data.
6. (tied) Avalyn Pharma, $100M, respiratory therapies: Avalyn Pharma, a biotech developing inhaled therapies to treat rare respiratory diseases, closed on $100 million in Series D funding. Suvretta Capital Management and SR One led the financing for the Cambridge, Massachusetts-based company.
6. (tied) Nudge, $100M, neuroscience: Nudge, a developer of ultrasound technology to stimulate and image the brain, raised $100 million in a Series A round led by Thrive Capital and Greenoaks.
8. Slingshot AI, $93M, mental health and AI: Slingshot AI, an Albany, New York-based developer of foundational AI models for psychology and mental health, announced that it raised an extension to its previously disclosed Series A funding. Radical Ventures and Forerunner led the extension round, which brings total investment for the Series A to $93 million. Andreessen Horowitz led the first Series A financing in January.
9. Yieldstreet, $77M, investment platform: Yieldstreet, a platform for investing in private market assets like real estate and private equity, secured $77 million in a financing led by Tarsadia Investments. To date, the New York company has raised over $400 million in equity funding and $500 million in debt financing, per Crunchbase data.
10. Gupshup, $60M+, conversational AI: Gupshup, a provider of conversational AI tools for businesses, closed on more than $60 million in a combined equity and debt financing backed by Globespan Capital Partners and EvolutionX Debt Capital. Headquartered in San Francisco, Gupshup also has significant operations in India.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of July 19-25. 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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