Therapeutics And AI Lead, While Megarounds Took A Breather

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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 again this week. While there have been abundant headlines of late regarding huge financings in the works for AI unicorns, none formally closed in the past few days. Even so, we did see a number of good-sized deals announced in sectors including therapeutics, enterprise software, rare earth magnets and, yes, AI.

1. SetPoint Medical, $140M, arthritis treatment: Valencia, California-based SetPoint Medical, a developer of therapies for rheumatoid arthritis and other autoimmune conditions, announced that it raised $115 million in a Series D round, as well as $25 million in the second tranche of its Series C. Elevage Medical Technologies and Ally Bridge Group led the Series D.

2. Titan, $74M, enterprise software: Titan, a startup focused on AI-enabled tools for IT services work, secured $74 million from General Catalyst. New York-based Titan also disclosed its acquisition of RFA, a provider of IT and cybersecurity services for the financial sector.

3. Vulcan Elements, $65M, rare earth magnets: Vulcan Elements, a maker of rare earth magnets, picked up $65 million in Series A funding at a $250 million valuation. Altimeter led the financing for the Durham, North Carolina, company, which currently has contracts to provide its magnets to the military.

4. Reprieve Cardiovascular, $61M, medical device: Milford, Massachusetts-based Reprieve Cardiovascular, a developer of a therapy for acute decompensated heart failure, raised $61 million in a Series B financing led by Deerfield Management. Capital will go to support a clinical trial.

5. 1Kosmos, $57M, authentication: Iselin, New Jersey-based 1Kosmos, a provider of passwordless authentication, raised $57 million in Series B funding, including a $10 million line of credit. Forgepoint Capital and Oquirrh Ventures led the equity investment, while Bridge Bank provided the debt financing.

6. FieldPulse, $50M, business software: FieldPulse, provider of a mobile-optimized software platform for managing field services teams for home services and other areas, closed on $50 million in Series C funding. Fulcrum Equity Partners led the financing for the Dallas-based company, which said its business more than doubled year over year.

7. Gameto, $44M, women’s health: Gameto, a startup working on stem cell-derived therapies for reproductive health and treatment of some menopause-related symptoms, raised $44 million in Series C funding. Overwater Ventures led the financing for the 5-year-old, Austin, Texas-based company.

8. (tied) XOps, $40M, IT automation: San Francisco-based XOps, a startup working on technology to make IT operations more autonomous, announced that it has emerged from stealth with $40 million in funding. Activant Capital and FPV Ventures co-led the financing.

8. (tied) Squint, $40M, AI for manufacturing: Squint, a startup developing software to automate tasks in the manufacturing industry, closed on $40 million in Series B funding. The Westly Group and TCV co-led the financing for the San Francisco company.

9. (tied) Profound, $35M, marketing to AI: New York-based Profound, a startup developing a platform to market to AI “superintelligence” rather than humans, raised $35 million in a Series B led by Sequoia Capital.

9. (tied) Jocasta Neuroscience, $35M, longevity: Jocasta Neuroscience, a startup working on a self-described proprietary formulation of a longevity protein for treatment of conditions including cognitive impairment in neurodegenerative diseases, raised $35 million in Series A funding led by True Ventures.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Aug. 9-15. 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