Bay Area tech companies raised massive amounts of capital last week. Read more of the latest news from the Bay Area tech scene. This is the Built In SF weekly refresh.
Solana Labs raised $314M. The crypto giant’s token sale was led by Andreessen Horowitz and Polychain Capital. Solana’s blockchain infrastructure provides developers with a way to build and deploy market-ready applications quickly and at scale. With the additional capital, Solana plans to launch its own venture investing arm, incubator and trading desk. [Built In SF]
Faire secured $260M. The Series F for the online wholesale marketplace values the company at a whopping $7 billion. The new number is nearly triple the size of the company’s valuation six months ago. The company plans to use the fresh funding to continue building out its platform, with an emphasis on the growing category of apparel. Faire expects to double the size of its 500-person team over the next year. [Built In SF]
Eightfold AI raised $220M. The Series E for the Santa Clara-based recruiting platform values the unicorn at $2.1 billion. Eightfold pulls together existing human capital management data in an effort to help companies hire, develop and advance talent and meet diversity and inclusion goals. All told, the company has raised over $410 million. Eightfold plans to invest the additional capital in hiring more data scientists and engineers as the company continues to scale. [TechCrunch]
Amplitude brought in $150M. The Series F was led by Sequoia and values the company at an astounding $4 billion. The product intelligence company can track user behavior in real time to help businesses enhance their customer experience. Amplitude counts NBC Universal, Burger King, PayPal and Peloton among its long list of clients. [PitchBook]
Cerebral grabbed $127M. The Series B for the healthtech startup was led by Access Industries. Over the last year, the company debuted its mobile app, launched digital cognitive behavioral therapy (CBT), and introduced in-network insurance coverage to its platform. Cerebral plans to invest the additional capital in product development as it continues to scale. [PRWeb]
Embroker raised $100M. Embroker operates as a digital broker with a focus on business insurance. Following the Series C, the insurtech platform will build out its own insurance carrier. Embroker covers multiple lines of insurance for employers including employment practices liability, cyber and professional liability and many more. In addition to building out its own insurance carrier, the company plans to invest in the growth of its team as it continues to scale. [Built In SF]
Contentstack got $57M. The Series B led by Insight Partners brings the company’s total funding raised to $89 million. Founded in 2018, Contentstack is a content management system for marketers and developers. The company counts corporate heavyweights like Chase, Holiday Inn, Sephora and McDonald’s among its clients. The company will use the additional capital to expand its presence in Europe and hire additional employees. [Built In SF]
Marc Benioff advocates for an extension of the WFH era. The Salesforce CEO said that he expects more than half of the company’s employees to continue working from home after the pandemic. Despite significant office space investment in recent years, Benioff expects 50 to 60 percent of his employees to continue working from home. [CNBC]
Credit Sesame brought in $51M. Credit Sesame has seen its premium subscriptions grow by 200 percent annually. The platform provides users with a way to stay on top of their finances and keep their credit score in check via its mobile app. With the company’s acquisition of Zingo, which it also announced in tandem with the funding news, Credit Sesame will add rent reporting services to its platform. The company also plans to hire for numerous roles in data science and engineering in the near future. [Built In SF]
Airbase raised $60M. The Series B for the corporate spend startup was led by Menlo Ventures. Airbase offers small-to-midsize companies with accounts payable automation, software-enabled corporate cards and more. Airbase will use the additional capital to further develop its platform and expand its business reach. The company has raised $91 million in financing to date. [TechCrunch]
In additional funding news, healthtech startup Transcarent raised $58 million in a Series B round led by General Catalyst and 7wireVentures. The latest raise brings the company’s total amount of funding to $98 million.
Berkeley-based checkout-free technology company Grabango raised $39 million in Series B funding. The new capital will be used to fuel additional store deployments of the company’s tech.
Maintainx raised $39 million in a Series B led by Bessemer Venture Partners. Founded in 2018, the company has raised $54 million in venture capital financing to date. Maintainx increased its revenue 12x since the onset of the pandemic.
