The Week’s Biggest Funding Rounds: Fintech, AI Dominate In Slightly Slow Week For Large Deals
The pace of large-scale startup fundraising slowed a bit this week, with no giant late-stage rounds for GenAI unicorns. However, we did see a good bit of funding activity in the fintech area, led by business payments platform Airwallex, along with some healthcare- and AI-related dealmaking.
1. Airwallex, $300M, fintech: Business payments platform Airwallex closed on $300 million at a $6.2 billion valuation. The financing includes $150 million in Series F funding and another $150 million for secondary share purchases for the San Francisco-headquartered company, which was founded in 2015 in Melbourne, Australia.
2. Awardco, $165M, HR tech: Awardco, a platform for employee rewards and recognition, raised $165 million in a Series B round backed by Sixth Street and Spectrum Equity. The financing set a valuation of over $1 billion for the Salt Lake City-based company, which was founded in 2012.
3. LMArena, $100M, AI: San Francisco-based LMArena, which describes itself as an open community platform for evaluating AI models, secured $100 million in seed funding. Andreessen Horowitz and UC Investments led the financing.
4. Monarch Money, $75M, personal finance: Monarch, a personal finance platform offering budgeting and planning tools for consumers, closed on $75 million in Series B financing. FPV Ventures and Forerunner Ventures led the round for the 6-year-old Covina, California-based startup.
5. (tied) Siro, $50M, sales: New York-based Siro, a mobile app for tracking in-person sales performance, raised a $50 million Series B round led by SignalFire. Founded in 2020, Siro had previously raised $18 million from backers including Index Ventures and Fika Ventures.
5. (tied) RevenueCat, $50M, subscription management: San Francisco-based RevenueCat, a platform for managing subscription apps, raised $50 million in a Series C led by Bain Capital Ventures. Founded in 2017, the company says its tools are currently used to help power over one‑third of all new subscription apps worldwide.
7. Slash, $41M, fintech: Slash, a San Francisco-based banking platform for online businesses that offers checking accounts and payment cards, raised $41 million in Series B funding. Goodwater Capital led the round, joined by Menlo Ventures and NEA, setting a $370 million valuation for the 5-year-old company.
8. Fore Biotherapeutics, $38M, cancer therapeutics: Philadelphia-based Fore Biotherapeutics, a developer of therapeutics for hard-to-treat cancers, raised $38 million in Series D-2 financing. Founded in 2011, the financing brings total funding to date to more than $200 million, per Crunchbase data.
9. DataHub, $35M, AI: Palo Alto, California-based DataHub, an open source platform for metadata on AI and data assets, secured $35 million in Series B funding led by Bessemer Venture Partners. The 4-year-old company says it has seen 6x sales growth for its enterprise service, DataHub Cloud, over the past two years.
10. General Medicine, $32M, healthcare: Salt Lake City-based General Medicine, a platform for consumers to directly access care for specific medical problems, raised $32 million in venture funding led by Matrix. The company’s founders, Elliot Cohen and TJ Parker, previously launched pharmacy startup PillPack.