Though venture capital activity across the industry slowed this month, Peach State companies across several sectors still managed to secure new capital to build out their solutions. The highest rounds totaled less in March than in February, but innovation on the Atlanta tech front hasn’t slowed down by any means. Read on to learn more about last month’s biggest Atlanta tech funding rounds.
#5. $9 million, March 8
Hoping to open new avenues to alternative investing for accredited investors, Gridline pulled in a capital investment from names including Ardent Venture Partners and Tech Square Ventures. Its platform pools individual investor commitments into a single vehicle that gets directly invested into the underlying funds. It also handles back-office tasks like treasury management. The company is growing with plans to double its team over the next year.
#4. $10 million, March 21
Insurtech company Layr pulled in Series A funding to build out new tech integrations and double the size of its team. The Layr platform is designed to help its partner insurance brokers and agencies manage and service commercial policies, a service that ultimately helps small businesses more efficiently find the coverage that is best suited for them. HSCM Ventures led the round.
#3. $28 million, March 2
Operating a payment accuracy platform for health institutions and insurance providers, Rialtic aims to help its enterprise clients streamline their critical business functions and make the healthcare industry more efficient. To help it do so, the company extended its Series A round with additional funding led by F-Prime Capital. The money will enable Rialtic to expand its software platform, develop new products and hire new talent.
#2. $37 million, March 17
The Atlanta company has created an enterprise solution to help businesses streamline the processes of building, managing and reporting their cybersecurity and compliance programs. With its latest injection of growth capital from Mainsail Partners, Apptega is bringing its services into the managed security service provider channel. It’s also enhancing its current products and expanding its team with plans to create 100 new jobs in the next year.
#1. $100 million, March 10
Developing hypersonic aircraft that can fly at Mach 5, Chamblee-based Hermeus is working toward creating commercial vehicles, starting with its remotely piloted Quarterhorse plane, on track to fly in 2023. In the meantime, the company is putting its Sam Altman-led Series B funding toward completing Quarterhorse’s development, starting flight services operations and kicking off development for its next aircraft, Darkhorse.