The Week's Biggest Funding Rounds: Fake Cheese, Hunting Tech Talent, and Hacker Insurance Policies - Start Up Gazzete
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The Week’s Biggest Funding Rounds: Fake Cheese, Hunting Tech Talent, and Hacker Insurance Policies


The leaders:
Berkeley, California-based Perfect Day closed a flawless $ 350 million Series D co-led by Temasek and the Canada Pension Plan Investment Board. The company sells an animal-free milk protein ice cream that it has developed. The company will use the new cash to expand its biological engineering research and move into new categories of consumers like cheese. Founded in 2014, the company has raised a total of $ 750 million.
With the rise of cyberattacks, companies are looking for insurance against hackers, in the form of real insurance policies. The San Francisco-based Coalition was able to use that lawsuit to close a $ 205 million Series E, co-led by Durable Capital, T. Rowe Price Associates and Whale Rock Capital, at a valuation of more than $ 3.5 billion. The company just crossed $ 325 million in execution rate premiums as cyber threats continue to proliferate. Coalition has now raised more than $ 505 million in total funding since its founding in 2017.
As all companies search for talent, New York-based Andela closed a $ 200 million Series E to expand its search area. Andela helps companies create remote engineering teams by finding software engineers in more than 80 countries. Softbank Vision Fund 2 was impressed as it led the round that valued the company at $ 1.5 billion. Launched in Africa in 2014, the company has now raised $ 381 million, according to data from Crunchbase.
Looking for better investment advice? New York-based AlphaSense could help, especially after it closed a $ 180 million Series C funding round led by Viking Global Investors and Goldman Sachs Asset Management. The company’s AI market intelligence search engine pulls insights from analyst research, conference call transcripts, trade magazines, and more to drive business decisions at more than 2,000 large companies and financial institutions. Founded in 2011, the company has raised nearly $ 300 million to date, according to data from Crunchbase.
With the need for faster drug development never more apparent, a company that claims it can do just that has secured a sizable round. New York-based TrialSpark raised a $ 156 million Series C led by Sam Altman and Lachy Groom. The drug company’s platform tries to decrease the time it takes for drugs to go through the clinical trial process, which can often last a decade or more. The company says it can run clinical trials 50 percent faster, and cheaper, through its integrated platform.
Quick blows:
Nashville, Tennessee-based Built Technologies, a construction finance platform, closed a $ 125 million Series D led by new investor TCV, which valued the company at $ 1.5 billion.
San Francisco-based Gem, a recruiting platform that integrates with third-party apps like LinkedIn and Gmail, raised a Series C of $ 100 million at a valuation of $ 1.2 billion. The round was led by ICONIQ Growth.
Redwood City, California-based Totango, which helps track customer engagement, secured a $ 100 million Series D led by Great Hill Partners.
New York identity verification company Alloy closed a $ 100 million Series C led by Lightspeed Venture Partners and valued the company at $ 1.35 billion.
Boston-based Expansion Therapeutics raised an $ 80 million Series B led by Cormorant Asset Management.
In other news:
Despite US companies raising a total of more than $ 3.8 billion this week, the top three rounds raised globally were all elsewhere, with London-based renewable energy provider Octopus Energy, the service of Singapore-based Ninja Vany delivers the India-based online reselling platform Meesho, all raising rounds of over half a billion dollars.

Author avatar
Joshua Smith

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