Cyera and Monad Labs raise large round in big week

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This is a weekly feature highlighting the top 10 funding rounds announced that week in the US. Check out last week’s biggest funding rounds here.

At this point, it’s safe to say that big nine-figure rounds are back. Since February, this list has typically consisted of 2-3 rounds each week and then 6-7 rounds after a few months. This week we had 8 (almost 9!) rounds of $100 million or more, including some huge funding. Investors aren’t afraid to shell out big bucks for the right startups right now.

1. Cyera, $300 million, cybersecurity: While it is true that cybersecurity funding has slowed significantly, it has not dried up. Data security startup Cyera has raised $300 million in a Coatue-led Series C at a valuation of $1.4 billion. The round nearly triples the New York-based startup’s valuation from its $500 million Series B valuation of $100 million last June. Cyera was founded in 2021 and has raised $460 million to date, according to the company. Cyera provides a platform that helps enterprise security teams understand what data they have, how it’s used, and how to protect it. All of this is becoming more important as companies rely on data to power their AI initiatives. The startup also uses AI on its platform to assess the risk that a company’s data represents in terms of security, privacy, and regulatory compliance.

2. Monad Labs, $225 million, blockchain: New York-based Monad Labs has raised the largest Web3 funding round of the year so far, raising a $225 million funding round led by Paradigm. Monad is a layer 1 blockchain that is compatible with the Ethereum virtual machine, but can process transactions faster using the same set of rules. This round is reminiscent of the 2021-2022 era when layer 1 protocols like Aptos Labs raised large amounts of funding. According to Crunchbase, the company was founded in 2022 and has raised $244 million to date.

3. Torl BioTherapeutics, $158 million, biotechnology: It was just over a year ago that Los Angeles-based biopharmaceutical company Toll Biotherapeutics closed a $158 million Series B led by Goldman Sachs Asset Management. Now, the cancer treatment biotech is back this week after closing on another $158 million in B-2 funding led by Deep Track Capital. The startup plans to use the new funding to develop new antibody-based treatments to fight cancer. Torl was founded in 2018 and has raised more than $350 million to date, according to the company.

Four. Guest, $130 million, Hospitality: People love to travel and seem to prefer staying in short-term rentals. Guesty, a property management software platform for these rentals, raised a whopping $130 million in Series F funding led by KKR India Asset Finance this week to help property managers meet that demand. The Covina, Calif.-based startup, which operates in more than 80 countries, plans to use the new funding to continue its expansion in the United States. The company was founded in 2013 and has raised approximately $411 million to date, according to Crunchbase.

Five. Platform Science, $125 million, transportation: San Diego-based Platform Science, an edge application platform for transportation vehicles, has raised $125 million. The company did not disclose the name of the lead investor, but investors in this round included Daimler Trucks and Rider Ventures. The startup’s platform helps companies equip their commercial fleets with mobile devices and applications to improve flexibility, visibility, and productivity. The company was founded in 2015 and has raised approximately $323 million to date, according to Crunchbase.

6. (tie) Collaborative Robotics, $100 million, Robotics: Santa Clara, California-based Collaborative Robotics has secured $100 million in Series B led by General Catalyst. Collaborative has raised more than $140 million since its founding in 2022, according to the company.

6. (tie) FloQast, $100 million, Treasurer: FloQast, a Los Angeles-based finance and accounting platform, has closed a $100 million Series E led by Iconiq Growth at a post-money valuation of $1.6 billion. The company was founded in 2013 and has raised approximately $303 million to date, according to Crunchbase.

6. (tie) Seaport Therapeutics, $100 million, biotechnology: As the dangers of depression and anxiety become more apparent in society, it’s no wonder more startups are trying to combat the disease. Boston-based Seaport Therapeutics launched this week to do just that. The biotech startup was co-led by Arch Venture Partners and Sofinnova Investments, who raised $100 million in Series A funding. The biotechnology company focuses on drugs to treat depression, anxiety, and other neuropsychiatric disorders.

9. Nectero Medical, $96 million, biotech: Nectero Medical, a Tempe, Arizona-based clinical-stage biotechnology startup developing treatments for aneurysmal disease, has completed a $96 million Series D led by Norwest Venture Partners. The company was founded in 2017 and has raised nearly $116 million to date, according to Crunchbase.

Ten. Growth Therapy, $88 million, Healthcare: Grow Therapy, a New York-based software development company for the mental health industry, has completed an $88 million Series C led by Sequoia Capital. The company was founded in 2020 and has raised $178 million, according to Crunchbase.

Large scale global transactions

The second largest round of the week went to a European startup specializing in financing and investment.

• Spain-based financial services company Aquisgran has raised a venture round worth approximately $277 million.

methodology

We tracked the largest rounds announced in the Crunchbase database raised by US-based companies over a seven-day period from April 6th to 12th. Most announced rounds are visible in our database, but there may be a slight lag for some rounds. Will be reported later in the week.

Illustration: Dom Guzman