Weekly Roundup - Week 30, 2024

This is a weekly feature that recaps the week's funding rounds for B2B SaaS companies. 

This week's investment trends point to growth in Gen AI security, generative AI, AI Risk Resolution, Security & Compliance Solution, and Cloud Purchasing & Management. Let's examine the most recent fundraising rounds that are expanding potential applications.

ZEST Security, $5 Million, Seed

ZEST Security, a New York-based company exited stealth with an AI-powered cloud risk resolution platform and secured $5 million in seed funding. The investment was from Hanaco Ventures, Silvertech Ventures, and angel investors.   

Source

Vanta, $150 Million, Series C

Vanta, a San Francisco, CA-based trust management platform that helps simplify and centralize security for organizations of all sizes, has raised $150 million in Series C funding round at a valuation of $2.45 billion.The round was led by Sequoia Capital, with participation from new investors including Growth Equity at Goldman Sachs Alternatives and J.P. Morgan. This latest infusion brings Vanta's total funding to $353 million since its inception in 2021.   

Source

Archera, $17 Million, Series B

Archera, a Seattle, WA-based cloud purchasing and management solutions provider, has closed a $17 million Series B funding. The round was led by HighSage Ventures, with participation from Ridge Ventures, Amplify Partners, and PSL Ventures. 

Source

Code Metal, $16.5 Million, Seed

Code Metal, a San Francisco, CA-based company specializing in AI-based development workflows for edge computing, has secured a $13M seed, and a prior $3.45M pre-seed round. The seed round was led by Shield Capital.

Source

Lakera, $20 Million, Series A

Lakera, a San Francisco and Zurich-based generative AI (GenAI) security company, has raised $20 million in Series A, bringing its total funding to $30 million. The round was led by European VC Atomico, with participation from Citi Ventures, Dropbox Ventures.

Source

Momentum, $13 Million, Series A

Momentum, a San Francisco, CA-based customer intelligence platform that enables enterprise listening and automation, has raised $13 million in Series A, bringing its total funding to $18 million. The round was led by FirstMark Capital, with participation from Stage 2 Capital.

Source

deepc, $13 Million, Series A

deepc, a Munich, Germany-based radiology AI startup, has secured an additional $13 million in a Series A extension round, bringing its total funding to $30 million. The extension round was co-led by Sofinnova Partners and Bertelsmann Investments. 

Source

OTO, $8 Million, Series A

OTO, a Riyadh, Saudi Arabia-based logistics and shipping technology company, has secured SAR 30 million ($8 million) in Series A funding. The round was led by Sanabil Investments, with participation from Sadu Capital, Iliad Partners, Propeller, and Soma Capital.

Source

Docket Inc, $15 Million, Series A

Docket, the AI platform that serves as a virtual sales engineer for AEs. Docket trains on all your company’s knowledge, powered by state-of-the-art LLMs, and creates a dynamic knowledge graph. Integrating deep into AE workflow, Docket delivers just-in-time knowledge to ask the right discovery questions and answer complex product questions. They have raised $15 million in Series A funding led by Mayfield and Foundation Capital. This brings their total funding to $20.3 million 

Source

Cohere, $500 Million, Series D

Cohere, a Toronto, Canada-based generative AI startup, has raised $500 million in Series D funding, at a $5.5 billion valuation. The investment came from investors such as Cisco, AMD, and Fujitsu. This round also included participation from Canadian pension investment manager PSP Investments and Canada’s export credit agency EDC, bringing Cohere's total funding to $970 million.    

Source

Clio, $900 Million, Series F

Clio, a Vancouver, Canada-based legal technology company, has secured US$900 million in a Series F investment round, valuing the company at US$3 billion. The round was led by New Enterprise Associates (NEA), with participation from new investors Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark.

Source

We hope you are now up to date on the latest funding rounds in the B2B SaaS space. This week we saw a seed round of $5M for ZEST Security to a whooping $900M for Clio. Stay tuned for next week’s roundup on SaaS Insider.

-

Written By - Paul Augustine, Founder's Office