While artificial intelligence continues to be a frontrunner for tech investors, companies in spaces like biotech and HR are starting off spring with hefty rounds of venture funding. Learn which Bay Area innovators are growing their businesses after last month’s investments.
Top San Francisco Tech Funding Rounds, April 2024
- Xaira Therapeutics
- Augment
- Rippling
- Cognition Labs
- Cohesity
#5. $150 million, April 11
A round of Series F funding for Cohesity, an AI-powered data and security management company, will help it further develop cyber resilience capabilities for hybrid cloud environments. It will also fuel R&D and market expansion. Investors including IBM and Nvidia Corp. back the San Jose-based company.
#4. $175 million, April 24
Cognition Labs is a startup that launched an AI-powered coding assistant this past March. The company secured $175 million in capital led by Founders Fund to fuel product enhancement and innovation.
#3. $200 million, April 22
Coatue led a $200 million round of Series F funding for Rippling, an HR tech and IT platform that helps businesses manage payroll, benefits, computers, apps and other systems. The company is valued at $13.5 billion following the round and plans to invest in market expansion, product innovation and R&D.
#2. $227 million, April 24
Headquartered in Palo Alto, Augment offers AI-powered coding assistance solutions for software developers. Backed by investors including Sutter Hill Ventures, Index Ventures and others, Augment plans to put its Series B funding toward accelerating product development and growing its engineering and go-to-market teams.
#1. $1 billion, April 24
Drug discovery company Xaira launched from stealth with a total of $1 billion in funding from investors including ARCH Venture Partners and Foresite Labs. The biotech company leverages generative AI to design molecular structures that can be made into physical drugs. Xaira’s venture funding will help it begin drug development.
