The Week’s 10 Biggest Funding Rounds: Cyera And Monad Labs Raise Massive Rounds In Big Week

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Want to keep track of the largest startup funding deals in 2024 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

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.

At this point it’s fair to say the big, nine-figure round is back. Since February, this list has been made up of typically six or seven such rounds after months with usually just a couple such rounds every week. This week, there are eight $100 million-or-more rounds (almost nine!), including some massive raises. Investors are not afraid to write the big check right now for the right startup.

1. Cyera, $300M, cybersecurity: While it is true cybersecurity funding has significantly slowed, it certainly has not dried up. Data security startup Cyera raised a $300 million Series C led by Coatue at a $1.4 billion valuation. The round nearly triples the New York-based startup’s valuation from its $100 million Series B last June which valued it at $500 million. Founded in 2021, Cyera has raised $460 million to date, per the company. Cyera offers a platform that helps security teams at companies understand what data they have and how it’s used, as well as how to secure it — all of which has become more important with companies relying on data to drive AI initiatives. The startup also uses AI in its platform to assess risks a companies’ data represents regarding security, privacy and regulatory compliance.

2. Monad Labs, $225M, blockchain: New York-based Monad Labs locked up the biggest Web3 funding round of the year thus far, collecting a $225 million funding round led by Paradigm. Monad is a layer-1 blockchain that is compatible with the Ethereum Virtual Machine but can process transactions using the same set of rules faster. The round is reminiscent of the 2021-22 era when layer-1 protocols like Aptos Labs raised big. Founded in 2022, the company has raised $244 million, per Crunchbase.

3. Torl BioTherapeutics, $158M, biotech: It was just about a year ago that Los Angeles-based biopharmaceutical company Torl BioTherapeutics closed a $158 million Series B led by Goldman Sachs Asset Management. Well, the cancer-treating biotech is back this week after it closed a B-2 financing at another $158 million led by Deep Track Capital. The startup will use the new cash in the development of novel, antibody-based therapeutics to fight cancer. Founded in 2018, Torl has raised more than $350 million, per the company.

4. Guesty, $130M, hospitality: People love to travel and they seem to love to stay at short-term rentals. Guesty, a property management software platform for those rentals, raised a big $130 million Series F led by KKR India Asset Finance this week to help property managers keep up with that demand. The Covina, California-based startup operates in more than 80 countries and will use the fresh cash to continue its U.S. expansion. Founded in 2013, the company has raised nearly $411 million, per Crunchbase.

5. Platform Science, $125M, transportation: San Diego-based Platform Science, an edge application platform for transportation fleets, raised $125 million. The company did not name a lead investor, but investors in the round included Daimler Trucks and RyderVentures among others. The startup’s platform helps equip enterprise commercial fleets with mobile devices and applications for better flexibility, visibility and productivity. Founded in 2015, the company has raised nearly $323 million, per Crunchbase.

6. (tied) Collaborative Robotics, $100M, robotics: Santa Clara, California-based Collaborative Robotics locked up a $100 million Series B led by General Catalyst. Collaborative has raised over $140 million since being founded in 2022, per the company.

6. (tied) FloQast, $100M, accounting: Los Angeles-based FloQast, a finance and accounting operations platform, closed a $100 million Series E led by Iconiq Growth at a post-money valuation of $1.6 billion. Founded in 2013, the company has raised nearly $303 million, per Crunchbase.

6. (tied) Seaport Therapeutics, $100M, biotech: It is no surprise, as the dangers of depression and anxiety become more apparent in society, that more startups are looking to conquer the illnesses. Boston-based Seaport Therapeutics launched this week to do just that. The biotech startup raised a $100 million Series A co-led by Arch Venture Partners and Sofinnova Investments. The biotech company focuses on medicines for depression, anxiety and other neuropsychiatric disorders.

9. Nectero Medical, $96M, biotech: Tempe, Arizona-based Nectero Medical, a clinical-stage biotech startup developing therapies to treat aneurysmal disease, closed a $96 million Series D led by Norwest Venture Partners. Founded in 2017, the company has raised nearly $116 million, per Crunchbase.

10. Grow Therapy, $88M, healthcare: New York-based Grow Therapy, a software developer for the mental health industry, closed an $88 million Series C led by Sequoia Capital. Founded in 2020, the company has raised $178 million, per Crunchbase.

Big global deals

The second-biggest round of the week went to a European startup specializing in loans and investments.

  • Spain-based Aquisgran, a financial services firm, raised a venture round worth nearly $277 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 April 6 to 12. 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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