Though the weather may be getting cooler, tech VC activity is heating up. These Bay Area companies are reigning in autumn with an array of developments and fresh funding to back them. Read on for what’s new. This is the Built In SF weekly refresh.
Perfect Day secured $350M. Having developed a process that utilizes microflora to create animal-free milk protein, the Berkeley-based startup is fueling further growth in the biological engineering space. The company closed on a Series D funding round led by Temasek and CPP Investments with plans to invest in its tech, ingredient innovation and consumer products. To date, the company has raised $750 million in total funding. [PR Newswire]
Coalition pulled in $205M. The company offers enterprise cybersecurity tools and insurance coverage, providing solutions for endpoint detection and response, automated security alerts and more. Its latest round of funding was led by Durable Capital, T. Rowe Price Associates and Whale Rock Capital, brining the unicorn’s valuation to $3.5 billion. Coalition is planning to expand into new insurance lines and fill roles across its finance, operations and growth teams. [Built In SF]
SF tech quote of the week
Gem pulled in $100M. After a growth-filled year, Gem announced the close of its latest round of funding for its platform. Gem provides enterprises with a solution that provides recruitment teams with tools for referrals, events, advertising and more. Its Series C funding round officially mints the company as a unicorn with a $1.2 billion valuation. With the ICONIQ Capital-led raise, Gem is investing in expanding its integration and go-to-market capabilities. It’s also currently hiring new talent across several departments. [Built In SF]
Totango secured $100M. Based in San Mateo, the company developed a no-code platform that allows SaaS companies to design, optimize and run their entire customer journey. It just closed on a Series D led by Great Hill Partners, bringing its total venture capital sum to $132 million. The fresh cash will allow Totango to build out its product, design and engineering departments. [TechCrunch]
EquityBee raised $55M. By way of its network of investors, Equitybee’s platform provides employees with the financial means to take advantage of their organization’s stock options. The company announced its Series B round led by Group 11 that will help it invest in building out its platform features as well as expanding its reach. [TechCrunch]
In more VC funding news: Fintech company Highnote emerged out of stealth with its virtual payment card solution and $54 million in total funding from investors like Oak HC/FT and Costanoa Ventures. [TechCrunch]
Tonic.ai pulled in a $35 million Series B for its platform that lets engineers create synthetic data sets. The round led by Insight Partners will go toward reaching a 100-person headcount in 2022. [TechCrunch]
Using aerial imagery to inform farmers of potential irrigation problems, agritech company Ceres Imaging raised $23 million in Series C funding to invest in developing its platform and building out its team. [Built In SF]
RunX secured $4.1 million in seed funding as it aims to provide developers with a platform that simplifies every aspect of cloud infrastructure deployment. It plans to double its eight-person headcount with the capital led by Unusual Ventures and angel investors. [TechCrunch]
