Aligned with the rainy season, April was a particularly dreary period for venture capital in Atlanta. A handful of companies pulled through with new raises last month, with the highest amount reaching an eight-digit sum. Find out what names in tech are putting fresh money toward furthering their innovations.
#5. $3.1 million, April 11
Offering a solution that helps companies manage their devices across industries from financial to entertainment, Duluth-based Banyan Hills Technologies secured its first injection of venture capital to expand its presence. The company plans to add staff to its marketing and sales teams as well as expand its service into new industries. Banyan Hills will venture into the electric vehicle charging stations and food supply chain operations sectors next.
#3 (tied). $4 million, April 27
On a mission to streamline auditing for accountants everywhere, Audit Sight secured a round of seed+ funding from Hyde Park Venture Partners. Its software automates the more tedious tasks of the financial auditing process, freeing up certified public accountants to focus on the work that relies on their professional judgment. The company will add new modules to its platform, expand its solution into the quality of earnings vertical and grow its team across engineering, marketing and sales.
#3 (tied). $4 million, April 14
New to the Atlanta tech scene, data analytics company Coginiti announced its imminent relocation alongside a $4 million funding round led by Circadian Ventures. Coginiti provides enterprise teams with analytics management tools. Its new capital will go toward product development and ongoing operations as well as expanding its marketing, sales and customer success teams.
#2. $6 million, April 1
Offering solutions geared toward data practitioners, RightData secured a new round of venture funding from Level Equity. Serving more than 30 organizations including Johnson & Johnson, Walmart and GE Power, RightData helps teams with tasks like organizing data or validating and testing data. The company will build out its team that spans the U.S. and India with positions across sales, marketing and research and development.
#1. $30 million, April 18
The company generates thermo-electrochemical energy through a device that converts waste heat, like that from solar panels or factories, into energy. JTEC Energy was co-founded by former NASA engineer Lonnie Johnson and entrepreneur Mike McQuary. The new $30 million in capital will enable JTEC Energy to run pilot tests for its devices, helping the company evaluate the product’s durability and most optimal heat sources ahead of commercialization.