Five tech companies in the Bay Area raised the same total amount of venture funding last month as seven startups did in March. Having all pulled in hefty nine-digit sums, find out what these companies have planned with SF’s top funding rounds.
#5. $250 million, April 14
This company develops telecommunication satellites. It is working to reduce the cost of internet access for the billions of people around the world who are currently without online connectivity. With a fresh injection of Series C capital led by BlackRock, Astranis is ramping up the production of its product as well as accelerating research and development.
#4. $325 million, April 13
The company pulled in a Series E round co-led by investors Dragoneer, Greenoaks Capital and Tiger Global. Its platform helps accelerate the AI development process, and in an effort to keep up with growing demand for its product, Scale is investing the new capital in growing its headcount. Scale is hiring for roles based out of its San Francisco office across engineering, sales, design and more.
#2 (tied). $425 million, April 26
Following its Series D raise led by Tiger Global, payments company Brex is planning to grow its team. Currently, most of its available roles span its engineering department. It’s also looking to hire for finance, marketing and product positions as well. The company offers an all-in-one platform to help SMBs manage their finances. Brex has raised over $1 billion in funding to date and has a valuation of $7.4 billion.
#2 (tied). $425 million, April 7
The fintech company’s valuation skyrocketed to $13.4 billion after it raised its Series D round. Plaid offers software that helps people get a complete look at their finances by using APIs to integrate their bank accounts with finance apps like Venmo. It’s putting the capital toward conducting a hiring push mainly for positions on its engineering team with roles open across all the company’s departments.
#1. $676 million, April 13
Equipped with fresh Series D funding led by investor SoftBank, AI software and hardware developer SambaNova Systems is looking to invest in R&D for its enterprise offering, Dataflow-as-a-Service. It’s also planning to grow its team with a number of roles open within its product department. Following this mega-round, the company’s valuation hits $5 billion.
