These five Bay Area companies raised the most capital last month, accumulating nearly $1.03 billion in total capital raised. One local company also became a tech unicorn with a valuation of more than $1 billion. Read on to see who topped the list and how this new capital will be spent.
#5. $175 million, March 16
SiFive raised $175 million in a Series F round led by Coatue Management which rose its valuation to $2.5 billion. SiFive uses open-source RISC-V architecture to create chips and will use the funding to focus on its technology.
#3 (tied). $200 million, March 15
Aptos Labs is making its own blockchain on its own decentralized network. The company raised $200 million, which will go toward product development and hiring initiatives. Andreessen Horowitz led the round with participation from FTX Ventures, Coinbase Ventures, Tiger Global, 3 Arrows Capital and others.
#3 (tied). $200 million, March 8
DNAnexus gained $200 million led by Blackstone Growth for the global expansion of its technology. DNAnexus is a cloud-based SaaS company that aids in access to data and research for life scientists. Prior to this round, the company raised a $100 million Series G in 2020.
#2. $213 million, March 23
Astronomer created a modern orchestration platform that allows data teams to access more trusted data. Astronomer’s recent Series C round, led by Insight Partners, will be used to accelerate the growth of its platform, expand go-to marketing efforts and hire for its engineering and customer success teams. The funds also allowed Astronomer to acquire Datakin.
#1. $240 million, March 10
Based in Oakland, Roofstock’s end-to-end platform is used to invest in single-family rental homes. The company secured a Series E round led by SoftBank Vision Fund 2, bringing its valuation to $1.94 billion. The newly minted unicorn will use the fresh captial for multiple initiatives, including hiring.
