Healthtech has grown consistently on the Bay Area tech scene, bolstered by ample venture capital flowing into companies in the space. The largest funding round in November went to a biotech company specializing in developing small molecule medicines. Learn what other industries are getting attention from funders.
Top SF Tech Funding Rounds, November 2023
- Terremoto Biosciences
- Enable
- Together
- Forward
- Cytovale
#5. $84 million, November 15
Healthtech company Cytovale developed a sepsis test for hospital emergency departments and health systems. The company wants to expand the reach of its diagnostic toolset and serve more providers with its recent $84 million capital raise.
#4. $100 million, November 15
Forward, a company developing automated medical pods, secured $100 million in fresh funding to install its solutions inside businesses like malls and gyms across the U.S. Its CarePods are eight-foot-by-eight-foot cubes that allow patients to have diagnostic tests performed by interacting with a touchscreen. Khosla Ventures and Founders Fund participated in the round.
#3. $102.5 million, November 29
Working to develop open-source models to help organizations incorporate AI into their applications, Together AI offers a cloud platform that lets developers build custom AI models. The company secured a round of Series A capital spearheaded by Kleiner Perkins to expand its platform.
#2. $120 million, November 7
Backed by a round of Series D funding from lead investor Lightspeed, Enable plans to further its rebate management platform. The company helps manufacturers, distributors and retailers leverage rebate programs to fuel strategic growth. Valued at $1.12 billion following its latest raise, Enable will hire new talent and make its product faster to adopt and able to deliver more actionable insights.
#1. $175 million, November 2
Terremoto, a drug delivery and development company working on small molecule medicines, pulled in a $175 million Series B financing round from investors including EcoR1 Capital, Novo Holdings and Cormorant Capital. The company will put its latest funding toward advancing its platform and supporting the progress of in-house programs targeting diseases of high unmet medical need.
