The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 2/24/24 featuring funding details for Vectorshift, Carewell, Orkes andtwenty-four other deals representing $898M in new funding that you need to know about.
9amHealth – $9.5M
Encinitas-based 9amHealth gives consumers access to healthcare that is easy and affordable. Founded by Anton Kittelberger, Bernhard Schandl, Frank Westermann, and Paul Geevarghese in 2021, 9amHealth has now raised a total of $29.2M in total equity funding and is backed by 7wire Ventures, Cigna Ventures, Define Ventures, Founders Fund, and Leaps by Bayer.
Abridge – $150.0M
Pittsburgh-based Abridge is a medical conversation AI startup that structures and summarizes medical conversations for doctors and patients. Founded by Florian Metze, Sandeep Konam, and Shivdev Rao in 2018, Abridge has now raised a total of $207.5M in total equity funding and is backed by Bessemer Venture Partners, CVS Health Ventures, IVP, Kaiser Permanente Ventures, Lightspeed Venture Partners, Mass General Brigham, Redpoint Ventures China, Spark Capital, Union Square Ventures, and Wittington Ventures.
Cagent Vascular – $30.0M
Wayne-based Cagent Vascular develops a serration technology for improving the treatment of cardiovascular disease. Founded by Carol A. Burns, Peter Johansson, Peter Schneider, and Robert M. Giasolli in 2014, Cagent Vascular has now raised a total of $51.9M in total equity funding and is backed by Blue Ridge Medical, Sectoral Asset Management, and U.S. Venture Partners.
Carewell – $24.7M
Miami-based Carewell is a marketplace serving family caregivers offering healthcare products and the guidance and support to navigate at-home care. Founded by Bianca Padilla and Jonathan Magolnick in 2017, Carewell has now raised a total of $55.0M in total equity funding and is backed by Anchor Capital Advisors, Florida Opportunity Fund, Headline, MBF Healthcare Partners, NextView Ventures, Primetime Partners, and Sageview Capital.
Clumio – $75.0M
Santa Clara-based Clumio delivers cloud-based data protection and backup services tailored to enterprise needs. Founded by Kaustubh Patil, Poojan Kumar, and Woon Ho Jung in 2017, Clumio has now raised a total of $261.0M in total equity funding and is backed by Altimeter Capital, Index Ventures, NewView Capital, and Sutter Hill Ventures.
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EigenLayer – $100.0M
Seattle-based EigenLayer is a blockchain infrastructure startup that enables the restaking of ETH across various decentralized applications. Founded by Sreeram Kannan in 2021, EigenLayer has now raised a total of $164.4M in total equity funding and is backed by a16z crypto.
Elektra Health – $3.3M
New York, New York, United States-based Elektra Health is a new healthcare platform on a mission to tackle the menopause taboo for women. Founded by Alessandra Henderson and Jannine Versi in 2019, Elektra Health has now raised a total of $7.1M in total equity funding and is backed by Flare Capital Partners, Seven Seven Six, UPMC Enterprises, and Wavemaker 360.
Empowerly – $15.0M
San Francisco-based Empowerly is an Edtech company that offers tailored college and career guidance services for students and their families. Founded by Changxiao Xie and Hanmei Wu in 2018, Empowerly has now raised a total of $29.0M in total equity funding and is backed by Conductive Ventures.
EngineEars – $7.5M
Los Angeles-based EngineEars operates as a marketplace for audio engineers. Founded by Derek Ali in 2018, EngineEars has now raised a total of $8.5M in total equity funding and is backed by 645 Ventures, Dijon Isaiah McFarlane, DJ Khaled, Drive Capital, FLUS Investment Group, Ghazi Shami, Kendrick Lamar, Roddy Ricch, Russell James Vitale, Sean Famoso, Slauson & Co., and Tunde Balogun.
Fabric – $60.0M
New York-based Fabric is an innovator in healthcare enablement software. Founded by Aniq Rahman in 2021, Fabric has now raised a total of $80.0M in total equity funding and is backed by Atento Capital, BoxGroup, General Catalyst, Google Ventures, Salesforce Ventures, Thrive Capital, and Vast Ventures.
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Hadrian – $92.0M
Hawthorne-based Hadrian is a machine parts startup that manufactures precision components for technology companies. Founded by Chris Power in 2020, Hadrian has now raised a total of $191.5M in total equity funding and is backed by Andreessen Horowitz, Bracket Capital, Caffeinated Capital, Construct Capital, Cubit Capital, Founders Fund, Lux Capital, RTX Ventures, Shrug Capital, Silent Ventures, Tru Arrow Partners, and WCM Investment Management.
HealthSnap – $25.0M
Miami-based HealthSnap is a virtual care management platform for chronic disease management. Founded by Chase Preston, Misha Kerr, Samson Magid, Wesley Smith, and Yenvy Truong in 2015, HealthSnap has now raised a total of $42.6M in total equity funding and is backed by Acronym Venture Capital, Asclepius, Comcast Ventures, Florida Funders, Florida Opportunity Fund, MacDonald Ventures, Sands Capital Ventures, and Tampa General Hospital.
Highway9 Networks – $25.0M
Saratoga-based Highway9 Networks is providing the next-generation multi-cloud 5G Edge Service. Founded by Allwyn Sequeira, Debashis Basak, and Sachin Thakkar in 2021, Highway9 Networks has now raised a total of $25.0M in total equity funding and is backed by Detroit Venture Partners, General Catalyst, and Mayfield Fund.
Niron Magnetics – $25.0M
Minneapolis-based Niron develops a manufacturing process designed for the large-scale production of permanent magnets. Founded by Jian-Ping Wang in 2014, Niron Magnetics has now raised a total of $92.1M in total equity funding and is backed by Allison Transmission Holdings, Magna International, Samsung Ventures, Shakopee Mdewakanton Sioux Community, and University of Minnesota.
Orkes – $20.0M
Cupertino-based Orkes is a microservices and workflow orchestration platform. Founded by Viren Baraiya in 2021, Orkes has now raised a total of $29.3M in total equity funding and is backed by Battery Ventures, Nexus Venture Partners, and Vertex Ventures US.
Oula Health – $28.0M
Brooklyn-based Oula Health offers integrated obstetric and midwifery care for pregnancy and childbirth. Founded by Adrianne Nickerson and Elaine Purcell in 2019, Oula Health has now raised a total of $50.3M in total equity funding and is backed by 8VC, Alumni Ventures, Female Founders Fund, Google Ventures, Great Oaks Venture Capital, Maverick Ventures, and Revolution Ventures.
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PermitFlow – $31.0M
Milpitas-based PermitFlow is a construction permit application and management platform for developers and general contractors. Founded by Francis Thumpasery and Samuel Lam in 2022, PermitFlow has now raised a total of $36.5M in total equity funding and is backed by Altos Ventures, Felicis, Initialized Capital, Kleiner Perkins, and Y Combinator.
Power Life Science – $11.9M
San Francisco-based Power Life Science is a patient-friendly platform that provides access to clinical trials by condition, location, and drug type. Founded by Brandon Li in 2021, Power Life Science has now raised a total of $30.8M in total equity funding and is backed by Contrary, Footwork, and Kin Ventures.
Qloo – $25.0M
New York-based Qloo develops an AI-based cultural platform to predict consumer taste data and recommendations for companies in various sectors. Founded by Alex Elias and Jay Alger in 2012, Qloo has now raised a total of $57.0M in total equity funding and is backed by AI Ventures, AXA Venture Partners, Eldridge Industries, and Moderne Ventures.
Reprieve Cardiovascular – $42.0M
Milford-based Reprieve Cardiovascular is focused on improving outcomes for patients suffering from acute decompensated heart failure. Founded by Jim Dillon in 2018, Reprieve Cardiovascular has now raised a total of $91.1M in total equity funding and is backed by Arboretum Ventures, Deerfield Management, Genesis Capital, Lightstone Ventures, and Sante Ventures.
Stepful – $12.0M
New York-based Stepful helps those without college degrees train for and find entry-level healthcare jobs. Founded by Carl Madi, Edoardo Serra, and Tressia Hobeika in 2021, Stepful has now raised a total of $36.3M in total equity funding and is backed by 01 Advisors, AlleyCorp, Company Ventures, Green Sands Equity, Reach Capital, SemperVirens Venture Capital, and Y Combinator.
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Welcome to PropelME, an exclusive program meticulously crafted for qualified companies navigating the dynamic broadcast, media, and entertainment entrepreneurial landscape. Our program offers a unique fusion of year-round online community engagement and immersive, in-person experiences during NAB Show events, creating a comprehensive support system for early-stage companies. Immerse yourself in a supportive community where shared expertise drives innovation, providing not just networking opportunities but a deeper engagement with industry trends for forward-thinking startups and entrepreneurs. Join us in shaping the future of entrepreneurship. It all starts at NAB Show, April 13-17, 2024 in Las Vegas.
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Trace Genomics – $10.5M
Burlingame-based Trace Genomics provides genetic insights into soil, helping farmers optimize their agricultural practices for better crop yield. Founded by Diane Wu and Poornima Parameswaran in 2015, Trace Genomics has now raised a total of $47.7M in total equity funding and is backed by Ajax Strategies, Rabo Ventures, and S2G Ventures.
Uhnder – $50.0M
Austin-based Uhnder develops a digital automotive radar-on-chip designed to automate systems for safety and better feedback response. Founded by Curtis Davis and Manju Hegde in 2015, Uhnder has now raised a total of $95.0M in total equity funding and is backed by ACME Capital, Ei Camino Capital, HT Capital, Magna, Monta Vista Capital, Qualcomm Ventures, and Sagitta Ventures.
VectorShift – $3.0M
San Francisco-based VectorShift Builds, designs, prototypes, and deploys custom generative AI workflows. Founded by Alex Leonardi and Carlos Virella in 2023, VectorShift has now raised a total of $3.0M in total equity funding and is backed by 1984 Ventures, 468 Capital, Defy.vc, Formus Capital, and Y Combinator.
dub – $15.0M
New York-based Dub is a provider of a copy-trading platform for investment management. Founded by Steven Wang in 2021, dub has now raised a total of $15.0M in total equity funding and is backed by Alex Rampell, Anthony Kontoleon, Charlie Johnston, Dan Nathan, Dara Khosrowshahi, Emilie Choi, Kathryn Haun, Michael H. Acheson, Nathan Rodland, Reza Behforooz, Roger Ferguson, Ryan Sarver, Ryan Tedder, Shiva Rajaraman, Stephanie Zhan, Steve Nadel, Tusk Venture Partners, and William Capuzzi.
Conservation Labs – $7.5M
Pittsburgh-based Conservation Labs is a smart water meter that provides consumption insights, custom conservation recommendations, and leak detection. Founded by Mark Kovscek in 2016, Conservation Labs has now raised a total of $9.6M in total equity funding and is backed by RET Ventures and SustainVC.
The AlleyWatch audience is driving progress and innovation on a global scale. There are a number of options to reach this audience of the world’s most innovative organizations and startups at scale including strategic brand placement, lead generation, and thought leadership in front of an audience that comprises the vast majority of key decision-makers in the NYC business community and beyond. Learn more about advertising to NYC Tech, at scale.
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- Source: https://www.alleywatch.com/2024/02/the-weekly-notable-startup-funding-report-2-26-24/
