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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 year’s biggest funding rounds here.
It usually takes a couple of weeks after New Year’s Day for the funding market to heat up, but this week already saw three raises hit nine figures. In addition, funding was spread through a variety of sectors, including entertainment, cyber, gaming, health care and others. We even saw a well-known company that hasn’t raised cash for seven years lock up a big round.
1. Fever, $110M, entertainment: Just about two years ago, New York-based Fever raised $227 million in a round led by the growth equity business within Goldman Sachs Asset Management valuing it at more than $1 billion. Fast-forward to this month and the live-entertainment discovery platform is back raising cash: a $110 million round at a $1.8 billion valuation led by Goldman Sachs. The startup helps curate experiences for users in their locales and helps organizers find new audiences. Founded in 2014, the company has raised nearly $409 million, per Crunchbase.
2. (tied) ExtraHop, $100M, cybersecurity: Cybersecurity funding has certainly calmed down in the last two years, but that does not mean there are no big rounds. Seattle-based ExtraHop, a network detection and response startup, closed $100 million in growth capital from undisclosed existing investors. ExtraHop says it ended 2023 with approximately $200 million in ARR. The company’s platform discovers rogue and unmanaged devices, detects late-stage attack activity, and remediates threats. Founded in 2007, the company has raised nearly $162 million, per Crunchbase.
2. (tied) Second Dinner, $100M, gaming: It’s rare that a game developer comes up this high on the list, but Second Dinner locked up a top spot with a $100 million Series B led by Griffin Gaming Partners this week. The Los Angeles-based game development studio is behind the popular game MARVEL SNAP — which has been downloaded more than 22 million times and produced $200 million-plus in revenue since its launch in 2022. Founded in 2018, the company has raised $130 million, per Crunchbase.
4. Harbor Health, $96M, health care: General Catalyst has big plans for investing in health care, and this deal seems to prove it. The firm led a $95.5 million round for Austin, Texas-based primary and specialty clinic group Harbor Health. The health care startup will use the new cash for its expansion plans — it now has eight locations in Central Texas with more planned. Founded in 2022, the company has raised nearly $126 million, per Crunchbase.
5. Quora, $75M, information services: it’s been a while, but apparently Quora has not forgotten how to raise money. This week the Mountain View, California-based Q&A website raised its first funding since 2017, locking up another $75 million from Andreessen Horowitz. Why did the well-known platform go back to fundraising? Well, for AI of course. The company raised the fresh capital to help push growth for Poe, its AI chat platform. Founded in 2009, the company has now raised $301 million, per Crunchbase.
6. Rokid, $70M, augmented reality: Redwood City, California-based AR goggle developer Rokid raised approximately $70 million from the Hefei Municipal Government. Founded in 2014, the company has raised more than $535 million, per Crunchbase.
7. (tied) 120Water, $43M, water: Zionsville, Indiana-based water management and testing system 120Water raised a $43 million round led by Edison Partners. Founded in 2016, the company has now raised more than $54 million, per Crunchbase.
7. (tied) Luma, $43M, artificial intelligence: Palo Alto, California-based Luma, which helps users develop 3D models using AI, raised a $43 million Series B round with participation from Andreessen Horowitz and others. Founded in 2021, the company has raised more than $68 million, per Crunchbase.
9. Artisight, $42M, health care: Chicago-based smart hospital platform Artisight raised a $42 million Series B from new strategic and health system investors and previous investors, including Nvidia. Founded in 2017, the company has raised $57 million, per Crunchbase.
10. Impact Analytics, $40M, software: Linthicum Heights, Maryland-based Impact Analytics, a developer of retail and consumer goods software, closed a $40 million round led by Sageview Capital. Founded in 2015, the company has raised nearly $62 million, per Crunchbase.
Big global deals
Despite some big raises in the U.S., the largest raise of the week came from the Netherlands.
- Amsterdam-based Picnic, a home delivery platform for consumer goods, raised a venture round worth approximately $389 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 Jan. 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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