The NYC metro continues to be a hotspot for tech innovation and venture activity to fund it. The companies that pulled in August’s top tech funding rounds are changing the game for a diverse array of industries. Scroll ahead to check out what ideas are now backed with well over $1 billion of fresh funding.
#5. $220 million, August 24
Grafana Labs provides enterprises with a composable monitoring and observability stack built around its tech for dashboards and visualization. With its Series C funding co-led by Sequoia Capital and Coatue, the company is expanding its Grafana Loki logs and Grafana Prometheus metrics product offerings. The round brings the company’s valuation to $3 billion.
#4. $240 million, August 10
With its Series E funding co-led by Alkeon Capital and B Capital Group, Englewood Cliffs, New Jersey-based OwnBackup is working to extend its backup and recovery solutions to Microsoft Dynamics 365 sometime later this year. Serving about 4,000 enterprise customers, OwnBackup provides services including cloud data protection, sandbox seeding and data archiving solutions. To date, its valuation has reached about $3.35 billion.
#3. $300 million, August 24
Ramp provides enterprises with a corporate card that helps them manage their overall spend. Alongside its $300 million Series C, the unicorn also announced its acquisition of negotiation-as-a-service platform Buyer to help its customers get the best price on their corporate purchases. Ramp is investing this Founders Fund-led round in building out its product. It’s also growing its team across several departments.
#2. $400 million, August 5
Tiger Global led the $400 million Series E round for data management company Dataiku, valuing the unicorn at $4.6 billion. The company’s AI-enabled platform allows enterprise teams to better manage and understand their data without needing the knowledge base of a data scientist. The company currently serves 450 organizations and employs 750 people worldwide. The funding will enable it to continue that growth as it plans to hire new team members across a variety of roles.
#1. $450 million, August 20
Operating a fintech platform that aims to make investing more accessible, Chatham, New Jersey-based DriveWealth’s product is a cloud-based, API-driven brokerage platform that allows users to buy real-time fractional shares of companies. With $450 million in Series D funding led by Insight Partners and Accel, the $2.85 billion unicorn is planning to fuel global expansion and innovate its tech.
