D.C.’s tech scene has been heating up as the weather changes. Last month, the top five funding rounds from local tech companies brought in $570 million, more than double the $264 million raised in April. Read on to learn about May’s top tech funding rounds in the D.C. metro.
5. $15 million, May 24
Nisos, a cybersecurity and intelligence company, raised $15 million in Series B funding led by Paladin Capital Group. Nisos leverages data collection to gain a greater understanding of cyberattacks and help companies be smarter in their first defense and response. The company plans to use the new funds to invest in its Managed Intelligence services, its Nisos Intelligence Platform and new hires.
4. $25 million, May 26
Indigov, a constituent engagement platform for elected officials, raised $25 million in Series B funding led by Tusk Venture Partners. The platform automates various constituency communications tasks and makes it easier for representatives to keep their finger on the pulse of what their base cares about. The company plans to use its new funds to deepen product offers and expand into new markets.
3. $115 million, May 19
Caribou, an auto fintech company, closed a $115 million Series C funding round led by Goldman Sachs Asset Management, bringing its valuation to $1.1 billion. The company helps vehicle owners take control of their car payments by giving users better rates and lower monthly payments through partnerships with trusted lenders. Newly minted tech unicorn Caribou plans to use its funds to invest in its platform and product innovation. It also plans to grow its internal team with new hires.
2. $200 million, May 10
Arcadia, a climate tech company, raised $200 million last month in a round led by J.P. Morgan’s Sustainable Growth Equity Team. Arcadia offers a number of climate crisis fighting products including community solar offerings and its Arc API platform, which helps companies decarbonize. The company’s new funding will help Arcadia expand its platform’s data coverage and develop new product offerings.
1. $215 million, May 19
Electric vehicles infrastructure platform Inspiration Mobility raised $215 million in a funding round co-led by Macquarie Asset Management and Ferrovial, S.A. Inspiration Mobility helps vehicle fleet companies make the transition to using electric vehicles by empowering them to finance, build, own and operate their own assets. The company plans to use its new funding to accelerate growth and recently hired two new positions for its senior management team.