 Global monthly venture funding Global venture funding continued on its downward trajectory in May, amounting to $39B, down 14% from the preceding month, per a Crunchbase report. In May, venture capital funding fell below the $40B mark for the first time in a year, down nearly half from the $70B raised in Nov. 2021. Late-stage venture funding witnessed the largest decline, with ~40% fewer funds compared to 2021 monthly averages. Seed funding remained strong despite a drop in late-stage funding. The decline in funding along with the lower valuations has tilted the venture landscape in favor of institutional firms that could potentially scoop up new startups at lower prices. More: - Changes across various stages of funding are summarized as follows:
- Late- and growth-stage funding last month dropped from the 2021 yearly average of $36.2B to $22.3B, down 38%.
- Early-stage funding also declined 22% to $13.7B.
- However, seed-stage funding increased to $3.1B, up 11% from last year’s average of $2.8B.
- The seed-stage funding focus is evident from the strategic pivot by global institutional venture firms such as Tiger Global and Andreessen Horowitz, both of which have invested and led more seed and Series A stage rounds in May than in previous months.
- Exit opportunities for venture firms have reduced, as only one unicorn, Delhivery, went public in the month.
- May saw 34 startups achieving unicorn status, 20 less than the 54 unicorns minted in the same time last year.
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California-based end-to-end biomanufacturing and development solutions provider National Resilience Inc raised $625M from its Series D funding round. Resilience provides biologics, vaccines, nucleic acids, and cell and gene therapies development and manufacturing services for clients, including the U.S. Department of Defense and Opus Genetics. It currently operates 10 facilities in North America with a total manufacturing area of over 1 million square feet. A previously undisclosed $600M Series C funding round closed in Aug. 2021, according to the company’s recent announcement. More: - The names of investors were not disclosed; however, the company noted that venture capital funds, public mutual funds, pension funds, biopharma companies, sovereign wealth funds, and private family offices participated in the funding.
- Previous notable investors include 8VC and Arch Venture Partners, who co-led Resilience’s $750M Series B funding round in November 2020.
- Along with the current funding, the firm has raised over $2B in equity funding since its establishment in 2020.
- Resilience will use the latest funds to fuel strategic collaborations, support acquisitions, fund global expansion, scale manufacturing capabilities, and advance R&D.
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 A message from AXONIUS On July 14, 2021, the world welcomed a newborn. Named Cyber Asset Attack Surface Management (CAASM), Gartner announced its arrival in the Hype Cycle for Network Security 2021. New acronyms and repackaged tools aimed at IT and security professionals pop up every year, though. So what makes CAASM different? What’s driving its adoption? And how can we expect it to impact cybersecurity initiatives? We’re here to answer these important questions and help you navigate the new world of CAASM. Download “From Asset Management to Asset Intelligence: Crossing the CAASM” now to learn: - The history behind CAASM
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Aledade, a physician enablement company, secured $123M in funding from a Series E funding round. The company received a $3.1B post-money valuation at the recent fundraise led by OMERS Growth Equity, which has participated in all of Aledade’s funding rounds since Series C. Fidelity Management & Research Company participated in the funding round along with other investors. More: - Aledade provides data analytics, workflow optimization, customer management, and governance platform for primary care practices.
- The Bethesda, Md.-based company was last valued at $2.1B in Jan. 2021, when it raised $100M from its Series D round.
- The new funding brings the company’s total funds secured to date to $417.9M.
- With the new money, the company plans to increase the number of primary care practices under Medicare Advantage, a private health plan for seniors, as well as drive innovation and expand the number of product offerings provided by its subsidiary Aledade Care Solutions (ACS).
- In 2021, Aledade reported $300M in revenue, thanks to the addition of 700 new primary care practices to its network, bringing the total to 1,000 across 37 states.
- Aledade’s platform helps manage over 1.7 million patients.
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Israeli four-dimensional imaging radar sensor manufacturer Vayyar Imaging raised $108M in funding led by Koch Disruptive Technologies. The Series E funding round valued the firm at $1B, elevating the company to unicorn status. Vayyar intends to use the incoming funds to expand into new markets, namely Japan, Australia, and China, the latter of which it considers to be an important and fast-growing market for the firm. Vayyar also intends to expand into new verticals and develop machine learning-powered imaging solutions using the funds. More: - The funding round saw participation from GLy Capital Management, Atreides Management, Battery Ventures, Bessemer Ventures, KDT, More VC, Regal Four, and Claltech.
- Since its founding in 2011, the company has raised $300M in total funding to date.
- Koch Disruptive Technologies also led its previous $109M Series D fundraise in Nov. 2019.
- Vayyar began as a medical imaging company but has since expanded into the automotive, elderly healthcare, proptech, public safety, and retail industries.
- It announced a joint partnership with Chinese Haier Group Corp. last year to develop a touchless fall detection product for seniors.
- The firm is developing case-specific solutions for Amazon, Piaggio Group, and Toyota Motor Corp.
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Israel-based cybersecurity firm Perimeter 81 cemented its unicorn status with a $1B valuation at its latest $100M Series C fundraise. B Capital led the funding round. Perimeter 81 provides security service edge (SSE), zero-trust network access (ZTNA), and other network security solutions for modern enterprises with distributed workforces. More: - The company intends to use the incoming funds to accelerate growth and product development and expand its team.
- Perimeter 81 reported a YoY doubling of its annual recurring revenue but did not disclose the actual figures.
- The company has over 2,400 customers across the technology, finance, healthcare, retail, and entertainment sectors.
- Notable funding participants include Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital, and Spring Ventures.
- Perimeter 81’s valuation has grown five-fold since its last $200M valuation at its $40M Insight Partners-led Series B funding round in Aug. 2020.
- Including the current fundraising, the company has secured $165M in total funding to date.
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AppOmni, a San Francisco-based SaaS security management solution provider, raised $70M in Series C financing, bringing its total funds raised to date to $123M. The funding round was led by Thoma Bravo, with Scale Venture Partners, Salesforce Ventures, ClearSky, and Costanoa Ventures participating. More: - The company intends to use the proceeds to accelerate product development, fuel international growth, and back its sales and marketing efforts.
- AppOmni reportedly serves 78 million users on its platform across technology, healthcare, telecom, consumer products, banking, finance, and security sectors.
- It claims to have secured over 230 million exposed data records.
- The company’s security portfolio includes posture management, third-party app management, threat monitoring, automated workflow, and governance and risk compliance solutions.
- Notable clients include Dropbox, Ping, and Accenture, among several other Fortune 100 finance and healthcare companies.
- The firm received a $200M post-money valuation at its last $40M Series B funding round in April 2021.
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- Online workforce skilling platform Go1 raised $100M at a $2B valuation co-led by AirTree Ventures and Five Sigma. SoftBank Vision Fund 2, Salesforce Ventures, Blue Cloud Ventures, Larsen Ventures, TEN13, M12, Madrona Venture Group, SEEK, and Y Combinator participated in the funding round.
- Hong Kong-based artificial intelligence-powered drug discovery platform Insilico Medicine closed its Series D funding round with $60M in financing from Warburg Pincus, B Capital, Qiming Venture Partners, BOLD Capital Partners, and Pavilion Capital, amongst others.
- NFL stars Tom Brady's and Michael Strahan's documentary production company, Religion of Sports, secured $50M in funding led by Shamrock Capital Advisors with participation from Elysian Park Ventures and Cerro Capital.
- London- and San Francisco-based cybersecurity company CybSafe at RSA closed $28M in Series B financing led by Evolution Equity Partners, with participation from Emerald Development Managers, IQ Capital, and Hannover Digital Investments (HDI).
- San Francisco-based GraphQL API platform Stellate, formerly known as GraphCDN, secured $25M through a Tiger Global-led Series A funding and $5M from Boldstart Ventures-led seed funding.
- Italian online fitness coaching application Buddyfit raised $10.72M (€10M) in funding led by Azimut Digitech Fund. The Series A funding round saw participation from Cairo Communication, RCS MediaGroup, and others.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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