D.C. tech companies started the New Year off strong. The top five funding rounds of January brought in $198 million in new investments. Some of these companies used their fresh capital to add talented tech professionals to their growing teams, and several of them are still hiring. Others directed funds toward new project development, roadmap acceleration and other projects. Read on to learn more about the top five tech fundings rounds in DMV last month.
#4 (tied). $20 million, January 10
Fueling the future of clean energy, Delorean Power raised $20 million last month from Greenbacker Capital Management. This is just the beginning of its funding round, however. According to a company statement, Delorean is in the process of raising additional capital. The company develops utility-scale energy storage to help the power grid better adapt to increases in renewable energy. The funding will be used to further scale Delorean’s platform while continuing operations and expansion of its existing pipeline of energy storage projects.
#4 (tied). $20 million, January 3
The Baltimore e-commerce and fulfillment technology company raised $20 million in January. The Series C funding round was led by Delta-v Capital and will be used to accelerate enhancements to the company’s Omnifi platform and hire additional staff. Whitebox helps companies easily sell things online through sites like Amazon and eBay. Businesses simply send Whitebox their products and the tech company takes care of photographing them, checking labels and listing them for sale online.
#3. $33 million, January 13
SuccessKPI raised its first source of outside capital in mid-January, raking in $33 million in strategic investment from Banneker Partners. The SaaS company uses AI and machine learning to help companies improve their customer experience. By analyzing text and audio from customer service interactions through speech recognition and natural language understanding, the platform can provide insights in real-time. SuccessKPI allocated the funds toward continuing its market adoption streak from last year, accelerating roadmap development and hiring new team members.
#2. $60 million, January 20
Data and security privacy firm Virtru raised $60 million in late January. The round was led by Foundry Capital with participation from Tiger Global, MC2, Bessemer Venture Partners and New Enterprise Associates. The company uses Zero Trust cybersecurity strategies to help organizations maintain control of data as it is shared through email and document programs. Virtru allocated the funds to accelerate new product deliveries and grow its sales and marketing, research and development and customer success teams.
#1. $65 million, January 18
Curbio, a proptech finance company, raised $65 million in Series B funding last month. The company’s proprietary technology allows home sellers to finance renovations with payment deferred until after the sale of the home closes. The funding from Revolution Growth will be used to expand into additional markets, advance its technology and grow its invite-only contractor job platform. As part of the funding round, Curbio added Revolution Growth partner Patrick Conroy to its board.