Cato Networks Raises $238M, Briya Grabs $11.5M For Blockchain in Hospitals, & Paxton AI Pulls in $6M
September 20, 2023's biggest news in the private markets.
Cato Networks, an eight-year-old Tel Aviv startup that packages software-defined networking, managed cybersecurity, and global backbone services into a single offering, raised a $238 million round at a $3+ billion valuation. The deal lead was Lightspeed Venture Partners, while Adams Street Partners, SoftBank, Sixty Degree Capital, and Singtel Innov8 also participated.
Pryon, a six-year-old startup based in Raleigh, N.C., that uses AI to index an enterprise's different stores of content, raised a $100 million Series B round that values the company at between $500 million and $750 million post-money, according to TechCrunch. U.S. Innovative Technology Fund was the deal lead; Aperture Venture Capital, BootstrapLabs, Breyer Capital, Duke Capital Partners, Good Growth Capital, Omnimed Capital, and Revolution Rise of the Rest also participated. The company has raised a total of $137 million.
Briya, a two-year-old Tel Aviv startup that provides a blockchain-secured platform for hospitals and life sciences companies to share data, raised an $11.5 million Series A round led by Team8, with the George Kaiser Family Foundation as well as previous investors Insight Partners, Amiti Ventures, and Innocare Health Investments also stepping up.
Darrow, a three-year-old Tel Aviv- and New York-based startup that evaluates large amounts of public documents for their potential to support class action lawsuits, raised a $35 million Series B round led by Georgian, with F2 and previous investors Entrée Capital and NFX also pitching in. The company has raised a total of $59 million.
Flex, a three-year-old Miami startup that offers SMBs an array of financial services (e.g. credit card, expense tracking, banking, and treasury management), raised $20 million in equity and $100 million in debt. Florida Funders was the deal lead on the equity side, with Home Depot Ventures, MS&AD Ventures, and Companyon Ventures also participating. Meanwhile, CIM provided the debt. The company has raised a total of $123 million.
HiBob, an Israeli startup whose human resources platform helps organizations accelerate hiring, retain talent, and elevate employee engagement, raised a $150 million round at a $2.7 billion valuation, according to CTech. The deal was led by Farallon Capital, with Alpha Wave Global and previous investors filling out the round.
HiddenLayer, a four-year-old Austin startup that is focused on protecting AI systems from adversarial attacks, raised a $50 million Series A round co-led by M12 and Moore Strategic Ventures, with additional participation from Booz Allen Ventures, IBM Ventures, Capital One Ventures, and Ten Eleven Ventures. The company has raised a total of $56 million.
HyperJar, a seven-year-old London startup that has created a money management app and debit card featuring brand discount offers, raised a $24 million Series A round led by Susquehanna Private Equity Investments and joined by the Healthcare of Ontario Pension Plan.
Virtual Incision, a 17-year-old company based in Lincoln, Ne., that develops miniature surgical robots, raised a $30 million Series C extension round. Investors included Arboretum Ventures and InVivium Capital as well as previous investors Bluestem Capital, Endeavour Vision, Baird Capital, Cultivate(MD) Capital Funds, and PrairieGold Venture Partners. The company has raised a total of $146 million.
AIRNA, a startup based in Cambridge, Ma., that specializes in RNA editing therapeutics, raised a $30 million round. Arch Venture Partners was the lead investor, with ND Capital, Fast Track Initiative (FTI), Novalis, and Codon Capital also anteing up.
Aspinity, an eight-year-old Pittsburgh startup that develops technology to allow devices to run AI applications using very little power, raised a $5 million Series B round. Backers included Unitrontech as well as previous investors Anzu Partners, Birchmere Ventures, Mountain State Capital, and Riverfront Ventures. The company has raised a total of $27.8 million.
Awell, a seven-year-old Brussels startup that aims to automate clinical workflows and reduce administrative tasks for clinicians, raised a $5 million seed round. Octopus Ventures led the investment, with S16 also weighing in.
BioLoomics, a four-year-old Boulder startup that is developing a new type of antibody designed to degrade bacteria, viruses, and other pathogens, raised an $8.7 million seed round led by Innovation Endeavors, with additional capital provided by Horizons Ventures, TechU Ventures, Boom Capital Ventures, Hummingbird Nomads Fund, Cooley GC&H, BoxOne Ventures, and Viswa Colluru. The company has raised a total of $10.8 million.
Discern Security, a startup founded this year based in Sunnyvale, Ca., that helps companies visualize and optimize their security configurations, raised a $3 million seed round. BoldCap, WestWave Capital, Cyber Mentor Fund, and Security Syndicate all invested.
Edsoma, a two-year-old startup based in Weatherford, Tex., that has developed an AI-powered reading, education and communication platform for children, raised a $2.5 million seed round at a $14 million post-money valuation. The deal lead was NBA great Shaquille O'Neal.
Paxton AI, a startup based in Portland, Or., whose generative AI service can be used to help lawyers with legal research, drafting documents, and creating policies, raised a $6 million seed round led by WVV Capital, with Kyber Knight, 25Madison, AI Fund, and Voyager Capital also pitching in.
Pliable, a San Francisco startup that has built a no-code platform to help companies organize and manage their data, raised a $2.5 million seed round led by Resolute Ventures, with CEAS and Counterview Capital also contributing.
Sidekick, a one-year-old London startup that has developed a browser optimized for the workplace, raised a $4 million round. Investors included Runa Capital, Kleiner Perkins, GIVC, and S16VC.
Yotta Energy, a six-year-old Austin startup that is developing solar battery technology for rooftops and EVs, raised an $8 million Series A round led by Evergy Ventures, with BlueScope, Cricetus Felix Ventures, and previous investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund also piling on.
Yurts, a one-year-old San Francisco startup that is building generative AI models for enterprises, raised a $16 million Series A round led by Nava Ventures, with XYZ Ventures, Bloomberg Beta, Mango Capital, and Essence VC also investing.
Cortado Ventures, a firm based in Oklahoma City, announced the close of its $80 million second fund, increasing its total assets under management to $100 million. The firm focuses on early-stage tech companies across energy, logistics, life sciences, and future of work sectors.
Cybersecurity behemoth Crowdstrike has officially acquired Bionic.ai, a startup that continuously scans cloud applications for security vulnerabilities. TechCrunch says the price was $350 million, a healthy multiple on the $10 million in ARR that Bionic.ai was reportedly generating.