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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 definitely saw a slowdown in big rounds, with only three deals breaking the $100 million mark. However, healthcare and medical device makers did well. Perhaps announcements are slowing as summer is coming to a close, but the week certainly seemed to lack the big money of so many this year.
1. Kiteworks, $456M, cybersecurity: Investors seem to be digging cybersecurity yet again. A week after Abnormal Security closed a $250 million Series D that valued the startup at $5.1 billion, secure content company Kiteworks raised a $456 million round from Insight Partners (which also participated in the Abnormal round) and Sixth Street. The San Mateo, California-based company described the new round as “growth equity,” but also said it was a “partial liquidity event,” meaning some investors were able to cash out. While the company did not specify a valuation, it did state it was a minority investment, meaning its valuation is greater than $1 billion. Kiteworks’ platform allows customers to share sensitive data with other trusted parties via communication channels such as email and file sharing. In 2020 the company raised $120 million in a funding round led by Bregal Sagemount. Founded in 1999, Kiteworks has raised $592 million. The company was formerly known as Accellion and suffered a major data breach in 2021.
2. Halda Therapeutics, $126M, biotech: The big biotech round of the week came from New Haven, Connecticut-based Halda Therapeutics, a biotech startup developing therapies for prostate cancer and breast cancer, which raised a $126 million Series B extension from investors including Deep Track Capital and RA Capital Management. Founded in 2018, Halda has raised $202 million to date, per the company.
3. HistoSonics, $102M, healthcare: Usually we talk a lot about biotechs in this column, but this week was a good week for healthcare and medical device companies like HistoSonics. The Minneapolis company raised a $102 million Series D led by Alpha Wave Ventures. The startup’s Edison Histotripsy System uses ultrasound to create a “bubble cloud” designed to destroy and liquefy targeted liver tumors. Founded in 2009, the company has raised nearly $329 million, per Crunchbase.
4. Neptune Medical, $97M, medical device: Like we said, a good week for medical device makers as Neptune Medical raised big, too. The Burlingame, California-based medical device maker locked up a $97 million Series D. The company said Olympus and Sonder Capital were significant participants in this round. Neptune Medical is focused on using robotics to combat gastrointestinal disease. Founded in 2016, this is the company’s first disclosed funding amount, per Crunchbase.
5. Caresyntax, $80M, healthcare: We stay on healthcare, with Caresyntax’s $180 million raise through a series C extension and growth debt expansion round. The money breakdown is $80 million in equity and a $100 million growth debt facility from a variety of investors. The San Francisco-based startup has developed software and an AI platform for surgery — allowing for the use of data and applications to enhance surgical precision and patient safety. Founded in 2013, the company has raised nearly $388 million, per Crunchbase.
6. EliseAI, $75M, artificial intelligence: Conversational AI platform EliseAI was minted one of the newest unicorns in the AI world. The New York-based company raised a $75 million Series D at a valuation in excess of $1 billion led by Sapphire Ventures. EliseAI currently focuses its AI platform on the housing industry, but is also expanding into healthcare. Founded in 2017, the company has raised nearly $142 million, per Crunchbase.
7. Chaos Labs, $55M, blockchain: New York-based Chaos Labs, a blockchain risk management startup, raised a $55 million Series A led by Haun Ventures. Founded in 2022, the company has raised $75 million, per Crunchbase.
8. Moximed, $61M, medical device: Fremont, California-based Moximed, a developer of medical devices for people with knee osteoarthritis, closed a $61 million Series D, which also includes an option to close on up to an additional $30 million. The round was led by Elevage Medical Technologies. Founded in 2008, the company has raised $244 million, per Crunchbase.
9. Sahara AI, $43M, artificial intelligence: Los Angeles-based Sahara AI, a decentralized AI network, raised a $43 million funding round led by venture capital investors Binance Labs, Pantera Capital and Polychain. Founded in 2023, the company has raised $49 million, per Crunchbase.
10. PayZen, $32M, fintech: San Francisco-based PayZen, a fintech startup for the healthcare industry, raised $32 million in equity led by NEA. The company also raised a $200 million credit facility. Founded in 2019, the company has raised $472 million, per Crunchbase.
Big global deals
While the biggest raises came from the U.S., Asia also saw a good-sized round.
- India-based OYO, a travel tech company, raised a Series G worth approximately $123.9 million.
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 August 10 to August 16. 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.