Trends in Growth Capital Financings – April 2020

April 2020 Venture Funding Growthink Capital

April 2020, in spite of the virus crisis, saw considerable venture and growth capital funding events.

In fact, we tracked $5 billion in new funding events during the month (up from $4 billion in March).

Stripe, the online payment platform, led April 2020 funding with a $600 million Series G round from investors including Andreessen Horowitz, General Catalyst, GV, and Sequoia.

Other $100 million+ funding events in April included the following:

  • Confluent ($250 million), a provider of an enterprise-ready event streaming platform.
  • Cohesity ($250 million), a developer of a web-scale platform designed to simplify the way companies protect, manage and extract value from their data.
  • Erasca ($200 million), a developer of oncology drugs intended to provide precision oncology options.
  • Legend Biotech ($150 million) which offers a CAR-T cell therapy platform intended to accelerate the science and bring innovative therapies for their patients.
  • AvidXchange ($128 million), an automated invoice and payment processes platform.
  • Podium ($125 million), a provider of an enterprise-class customer review management platform designed to change the way businesses communicate with their customers.
  • iTeos Therapeutics ($125 million), a developer of immuno-oncology treatments aimed at developing innovative anti-cancer agents.
  • Affinivax ($120 million), an vaccines development company which focuses on treating various infectious diseases.
  • Collibra ($113 million), a cross-organizational data governance platform designed to deliver openness and freedom.
  • Stash ($112 million), a personal finance and investment application intended to make saving and investment accessible to everyone.
  • Pivot Bio ($100 million) a creator of microbial nitrogen technology that increases crop yields and farmer revenue.
  • RefleXion Medical ($100 million), a developer of biology-guided radiotherapy to create a new cancer treatment modality.
  • CircleCI ($100 million), a creator of a continuous delivery automation platform designed to offer automated testing and continuous integration tools.

Appropriately the healthcare industry as a whole received significant funding during April. The hottest sectors during the month were BioTech, HealthTech, FinTech and Cybersecurity.

Key funding events in each these sectors for the month are below:

  1. BioTech deals included Erasca ($200 million), Legend Biotech ($150 million), iTeos Therapeutics ($125 million), Affinivax ($120 million), Pivot Bio ($100 million), RefleXion Medical ($100 million), Pandion Therapeutics ($80 million), Aspen Neuroscience ($70 million), Accent Therapeutics ($63 million), Tango Therapeutics ($60 million), ROME Therapeutics ($50 million), Nitrome Biosciences ($38 million), Avalyn Pharma ($36 million), Actym Therapeutics ($34 million), Taysha Gene Therapies ($30 million), LifeSprout ($29 million), GPB Scientific ($26 million), Rgenta Therapeutics ($20 million), 54gene ($15 million), Unlearn.AI ($12 million),. Zikani Therapeutics ($8 million), PIC Therapeutics ($5 million)
  2. HealthTech deals included Aledade ($64 million), Olive ($51 million), Tyto Care ($50 million), SonderMind ($27 million), Clever Care ($20 million),  SilverCloud Health ($16 million), RDMD ($14 million), H1 Insights ($13 million), Particle Health ($12 million), Ferrum Health ($9 million), XRHealth ($7 million), Yes Health ($6 million). 
  3. FinTech deals included Stripe ($600 million), AvidXchange ($128 million), Stash ($112 million), Digits ($22 million), OpenInvest ($10 million), Sila ($8 million), Wise ($6 million), Auditoria.AI ($6 million), Causality Link ($5 million)
  4. Cybersecurity deals included ForgeRock ($94 million), Axonius ($58 million), Randori ($20 million), SafeBreach ($19 million), Bridgecrew ($14 million)

If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out our contact form here.