In a bustling week of funding activities, several companies across various sectors successfully secured significant investments, propelling them forward in their respective industries. Let’s take a closer look at five noteworthy funding rounds that made waves.
1. DataBank: $188 Million for Data Center Expansion
Industry: Information Technology
Details: Consulting and tech services firm DataBank raised a substantial $533 million in a combination of debt and equity to fund the construction of new data centers. The deal included $188 million from existing and new investors, along with a $345 million loan for a new data center in the Atlanta area. This follows a $350 million credit facility in March and $715 million in secured notes in April. DataBank underwent a $2.2 billion recapitalization led by SwissLife Asset Management a year ago.
2. BlueVoyant: $140 Million for Cybersecurity Advancements
Industry: Cybersecurity
Details: Managed detection and response startup BlueVoyant closed a Series E round, raising over $140 million and led by Liberty Strategic Capital. The funds were utilized to acquire Conquest Cyber, based in Herndon, Virginia. Conquest Cyber specializes in protecting the nation’s defense industrial base and critical infrastructure sectors. This marks BlueVoyant’s fifth acquisition since 2020, reflecting the heightened interest in the defense tech industry. Since its founding in 2017, BlueVoyant has raised nearly $666 million.
3. Together: $102.5 Million for AI Platform Development
Industry: Artificial Intelligence
Details: AI startup Together secured $102.5 million in a Series A funding round led by Kleiner Perkins. Based in Menlo Park, California, Together has developed a cloud platform enabling developers to build on open and custom AI models. This allows customers to fine-tune open-source foundation models. Nvidia, a frequent investor in AI startups, also participated in the funding round.
4. Dura Software: Over $83 Million for Enterprise Software Aggregation
Industry: Enterprise Software
Details: San Antonio-based software aggregator Dura Software raised more than $83 million from 64 investors, according to a recent SEC filing. Despite the limited information available, the company describes itself as a specialist in hyper-niche software products catering to narrow but mission-critical use cases for business customers. Since its founding in 2018, Dura Software has raised nearly $95 million.
5. Arrivo BioVentures: $45.3 Million for Biotech Advancements
Industry: Biotechnology
Details: Morrisville, North Carolina-based biotech firm Arrivo BioVentures concluded a $45.3 million Series B funding round led by Orlando Health Ventures. Specializing in the development of treatments for major depressive disorder and pancreatitis, Arrivo raised its Series A in 2016 and has now accumulated $100 million in total funding since its founding in 2015.
These funding rounds underscore the diverse areas of innovation and growth, from data centers and cybersecurity to artificial intelligence, enterprise software, and biotechnology. The investments will fuel these companies’ ambitious plans for expansion, research and development, and strategic acquisitions in their respective fields.