Public Safety Leads, While Healthcare And Fintech Also See Big Deals

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This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.

The pace of giant funding rounds slowed a bit this week. However, we still did see some jumbo-sized deals in the mix, topped by a $355 million growth round for First Due, a software provider for emergency responders. Healthcare and AI were also significant sectors for funding, as illustrated below.

1. First Due, $355M, public safety: First Due, a Garden City, New York-based provider of software for emergency first responders, announced that it secured a $355 million strategic minority growth investment led by JMI Equity. Founded in 2016, First Due’s technology currently helps power operations for over 3,000 local, state and federal agencies in the United States and Canada.

2. Strand Therapeutics, $153M, biotechnology: Boston-based Strand Therapeutics, a developer of mRNA-based therapeutics, raised $153 million in a Series B funding led by Kinnevik. The fundraise follows the company’s announcement of promising initial clinical data for its treatment for patients with advanced solid tumors.

3. Apreo Health, $130M, healthcare: Menlo Park, California-based Apreo Health, a clinical-stage medical device company developing a treatment for severe emphysema, landed $130 million in Series B funding. Bain Capital Life Sciences and Norwest Venture Partners led the financing, which will fund its next trials and early commercialization efforts.

4. BeatBread, $124M, financial services: BeatBread, a platform for independent musicians to make money from their work, raised $124 million in debt and equity funding. Citi Sprint led the financing for the 5-year-old company.

5. Decart, $100M, artificial intelligence: San Francisco-headquartered Decart, developer of an AI model focused on interactive experiences, reportedly closed on $100 million in a Series B funding round at a $3.1 billion valuation. Investors in the round included Sequoia Capital, Benchmark, Zeev Ventures and Aleph.

6. (tied) Rillet, $70M, fintech: Fintech startup Rillet picked up $70 million in a Series B funding round co-led by Andreessen Horowitz and Iconiq Capital. The Palo Alto, California-based company describes itself as an AI-native ERP, or Enterprise Resource Planning software, built for CFOs and accounting teams at high-growth companies.

6. (tied) Chai Discovery, $70M, healthcare AI: Chai Discovery, a startup using AI to predict and reprogram the interactions between biochemical molecules for drug research and development, secured $70 million in Series A funding. Menlo Ventures led the financing for the San Francisco-based company.

8. Stavtar Solutions, $55M, enterprise software: New York-based Stavtar Solutions, a provider of business spend management and expense allocation tools, raised $55 million in a Series A investment backed by Elephant.

9. Positive Development, $51.5M, healthcare: Positive Development, a provider of developmental therapy for autistic children and their families, closed on $51.5 million in Series C funding. B Capital, aMoon Fund and Flare Capital Partners led the financing for the McLean, Virginia-based company.

10. Human Interest, $50M, financial services: San Francisco-based Human Interest, a 401k retirement plan provider focused on smaller businesses, announced that Morgan Stanley Tactical Value has agreed to invest up to $50 million. The financing, revealed this week, is part of a previously announced Series E round.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Aug. 2-8. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration: Dom Guzman