Things are looking sunny in the Peach State as companies across all sectors are fueling their next stages of growth. So far this year, the state’s venture capital market hit a total of about $2.9 billion, thanks to the Atlanta metro’s vibrant business ecosystem. The state has already surpassed its previous venture funding total of $2.1 billion in 2020, according to Atlanta Inno’s report on recent PitchBook data, and is on track to nearly double 2019’s record of $2.3 billion by the end of this year.
Much of that funding went toward the city’s tech front where companies have been growing at a rapid pace. With five tech new unicorns on the scene this year, check out which five companies raised the most funding in October as the Atlanta tech scene continues to expand.
#5. $4.2 million, October 28
Blockchain company MomentRanks closed on a $4.2 million round led by Ash Egan’s Acrylic Crypto for its NFT collection solution. The company is developing its platform with tools to help creators identify with and share their collection while simultaneously making NFT research easier for everyone. In the coming months, MomentRanks is expanding its team with openings for engineering roles as well as a head of growth position.
#4. $4.5 million, October 28
Companies all over the globe are entering the growing NFT space and GigLabs is aiming to help them launch NFTs of their own to enhance customer experiences. Its solutions help companies showcase their NFTs in VR spaces or create virtual storefronts on their websites. The blockchain startup pulled in its latest round of funding co-led by Dapper Labs and Panoramic Ventures with plans to scale its business and expand its team.
#3. $17.8 million, October 14
SnapMedTech, the parent company of SnapNurse, a solution that works to help medical facilities quickly fill vacancies with nurses and medical professionals, raised $17.8 million in new capital. SnapNurse has grown rapidly over the course of the pandemic, and it recently opened a new office in Midtown’s Colony Square. SnapMedTech’s latest round saw participation from a total of 63 investors. Its prior raise was led by Pivotal Group back in December.
#2. $29 million, October 17
Helping SMBs manage their B2B invoices, Now secured a $25 million credit facility from Brigade Capital Management and a $4 million equity investment co-led by Brigade Capital and Virgo Investment Group. Now’s platform enables small businesses to get paid faster, allowing them to receive payments as soon as one day after serving another company. The new funding will go toward expanding its operations and product offerings, as well as extending its reach to more businesses.
#1. $30 million, October 14
With its cloud-based platform, Azalea offers practices, clinics and community hospitals solutions for healthcare management and medical billing. The company recently announced its acquisition of dashboardMD, a data analytics platform. The credit facility from CIBC Innovation Banking will go toward closing this acquisition. Upon doing so, Azalea plans to give providers more tools to help them better manage clinical quality measures and enhance their revenue visibility.