October 2020 Growth Funding Recap

Growthink Capital, our investment banking arm, just released its analysis of growth funding events that occurred during October.

It tracked $6.4 billion in new venture funding in October 2020, up from $5.7 billion in September. The month’s biggest funding event belonged to the food/alcohol/snack delivery company Gopuff, which raised $380 million.

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

• Scopely ($340 million) an interactive entertainment platform.
• Unqork ($207 million) a no-code application development platform that helps organizations build custom software.
• Arctic Wolf ($200 million) a cloud security platform designed to keep your valuable business data safe.
• Instacart ($200 million) a grocery delivery company.
• Redaptive ($156 million) an energy system upgrade services intended to permit organizations to accelerate efficiency upgrades.
• Benson Hill ($150 million) a crop design platform to develop healthier and more sustainable crops.
• Tipalti ($150 million) a cloud-based automation platform designed to eliminate mass payment workload and reduce automation payment risk.
• Honor ($140 million) a home-care service offering expert and professional in-home care services for elders.
• Getaround ($140 million) a carsharing platform
• Eightfold AI ($125 million) a talent intelligence platform to help companies find, recruit and retain workers.
• Applied Intuition ($125 million) an advanced simulation infrastructure software designed for autonomous vehicles.
• Perch ($123.5 million) a technology-enabled consumer products company that acquires and develops e-commerce brands.
• Ordermark ($120 million) an online ordering management platform that helps restaurants manage online orders and other management operations.
• 98point6 ($118 million) an on-demand, text-based primary care platform to make healthcare more accessible and affordable.
• Talaris Therapeutics ($115 million) a biotechnology company that assists in the development of innovative cellular therapies.
• Scorpion Therapeutics ($108 million) a developer of cancer treatments
• Sirnaomics ($105 million) a developer of novel targeted therapeutics intended to treat critical human diseases.
• Bind Benefits ($105 million) offers personalized health plans
• WHOOP ($100 million) a wearable performance optimization device to provide personalized insights to improve overall fitness.
• Newfront Insurance ($100 million) an insurance brokerage technology that assists businesses in purchasing insurance packages.
• BrightFarms ($100 million) a producer of green salads to give people access to fresh locally produced greens.
• Avail Medsystems ($100 million) a procedural telemedicine solution.
• Dialpad ($100 million) a business communications platform that offers cloud-based solutions for businesses to communicate effectively.

The hottest sectors for funding during the month were BioTech, FinTech, Cybersecurity, Artificial Intelligence/Machine Learning and TeleHealth.

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

1. BioTech deals included Sirnaomics ($105 million), Q32 Bio ($60 million), Dren Bio ($60 million), Nimbus Therapeutics ($60 million), Be Biopharma ($52 million), Walden Biosciences ($51 million), RayzeBio ($45 million), InCarda Therapeutics ($30 million), Scribe Therapeutics ($20 million), Solarea Bio ($11 million) and Lassogen ($5 million).
2. FinTech deals included DriveWealth ($57 million), Chargebee ($55 million), M1 Finance ($45 million), Shogun ($35 million), Bluefin ($25 million), Zest AI ($15 million), Lili ($15 million), Bloom Credit ($13 million), Possible Finance ($11 million), Transcend Street ($10 million), StreetShares ($10 million), Polygon ($6 million), Finmark ($5 million) and Clair ($5 million).
3. Cybersecurity deals included Arctic Wolf ($200 million), Onapsis ($55 million), 4iQ ($30 million), Illusive Network ($24 million), Fossa ($23 million), Sonrai Security ($20 million), Unit21 ($13 million), Eclypsium ($13 million), Strider Technologies ($10 million), StackHawk ($10 million), Cyberpion ($8 million), NormShield ($8 million) and Secureframe ($5 million).
4. Artificial Intelligence/Machine Learning deals included Hyperscience ($80 million), Lark Health ($55 million), Matroid ($20 million), Grid AI ($19 million), Robust.AI ($15 million), Skan ($14 million), Robust Intelligence ($14 million), Theta Lake ($13 million), Capacity ($11 million), and Balto ($10 million).
5. TeleHealth deals included 98point6 ($118 million), Avail Medsystems ($100 million), TigerConnect ($45 million), eVisit ($14 million), Curve Health ($6 million) and Nice Healthcare ($5 million).