In September 2024, Growthink Capital Research reported new venture funding of $5.63 billion, an increase compared to $4.78 billion recorded in August 2024.
The month’s biggest funding event belonged to Twelve ($645 million), a carbon dioxide recycling device designed to create a climate-positive world and a fossil-free future, enabling industries to reduce their carbon footprint while creating a new revenue stream from waste products.
In total, twelve companies raised $100 million or more in September. Excluding Twelve, the top eleven companies that followed are as follows:
Race Communications ($375 million) a fiber internet service intended to bridge the internet gap between rural and urban areas, enabling customers and businesses to get gigabit fiber internet and advanced communication services at an affordable price.
ArsenalBio ($325 million) a programmable cell therapy company intended to discover, develop, and commercialize curative immune cell therapies enabling clinicians with next-generation autologous T-cell therapies to defeat cancer.
Unlock Technologies ($280 million) a consumer finance service intended to assist homeowners in unlocking home equity without getting a loan, enabling individuals and houseowners to pay off debts, make home improvements, and pay for education.
Glean ($260 million) an artificial intelligence (AI)–powered platform designed to improve workplace efficiency by connecting and managing enterprise data, helping employees to optimize processes and automate repetitive tasks, allowing teams to work more effectively to achieve their goals.
Observe ($145 million) an enterprise SaaS platform intended to turn business data into information, enabling engineers to spend time on coding features and less time on investigating incidents.
Zing Health ($140 million) a healthcare platform intended to assist individuals in navigating Medicare options, enabling seniors in select counties to make informed decisions about their healthcare while ensuring access to tailored benefits.
Nura Bio ($140 million) a transformative neuroprotective therapy designed to prevent and protect against neuronal loss and related neuroimmune dysregulation, enabling healthcare professionals to improve the nervous system’s immune surveillance capacity in response to neurological injury.
Whatfix ($125 million) a digital adoption platform designed to offer application guidance that is personalized at scale, enabling clients to improve process compliance, decrease time-to-complete business-critical operations, and leverage data-driven insights for better decision-making.
Drip Capital ($113 million) an online trade financing platform designed to provide working capital finance to small and medium enterprises engaged in cross-border trade in emerging markets, enabling clients to easily receive collateral-free funds for their working capital easily.
Mews ($100 million) a property management platform designed to automate operations and democratize knowledge around the hotel technology ecosystem, enabling property owners to enhance the hotel back office and guest experience.
Virtuous ($100 million) a fundraising platform designed to assist nonprofits in streamlining their fundraising, marketing, and donor development processes, enabling organizations to connect with givers in new and meaningful ways, and make a significant impact on the community.
The hottest sectors for funding during the month were A.I./Machine Learning, Cybersecurity, Biotech, Business/Productivity Software, and Climate Tech.
Key funding events in each of these sectors for the month are below:
A.I./Machine Learning deals included Glean ($260 million), You.com ($50 million), XP Health ($33.2 million), Mercor ($30 million), Attotude ($29 million), Greenlite ($28.5 million), Miris ($26 million), Pieces Technologies ($25 million), Connectly ($20 million), Revefi ($20 million), Fathom ($17 million), Ferrum Health ($16 million), Landbase ($12.5 million), Wispr ($12 million), Nostra AI ($8.9 million), Loti AI ($7 million), and Brisk Teaching ($6.9 million).
Cybersecurity deals included Torq ($70 million), Second Front ($70 million), Strider Technologies ($55 million), Picus Security ($45 million), Intezer ($33 million), BlackCloak ($17 million), RunSafe Security ($12 million), Illuma Labs ($9 million), Cybord ($8.7 million), DefectDojo ($7 million), and C/side ($6 million).
Biotech deals included ArsenalBio ($325 million), Nura Bio ($140 million), OrsoBio ($67 million), Arzeda ($38 million), CytoTronics ($13.5 million), Eradivir ($10.2 million), Bambusa Therapeutics ($5 million), and VerImmune ($4.5 million).
Business/Productivity Software deals included Observe ($145 million), Whatfix ($125 million), Kasisto ($90 million), Ujet ($76 million), Smartcat ($43 million), and Bounti ($16 million).
Climate Tech deals included Twelve ($645 million), Air Company ($69 million), Dandelion Energy ($40 million), Mantel Capture ($30 million), and David Energy ($23 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 Growthink Capital’s contact form here.