10 Hot Startups That Raised VC Funding In February
Follow The Money
The cloud stayed red-hot in February as venture investors sank funds into startups focused on cloud computing for storage, networking and security, among other areas. Meanwhile, companies focused on other types of cybersecurity issues -- including in novel areas such as voice fraud -- also raised rounds during the month.
Notably, corporate venture capital investment was a leading theme in February -- with AT&T, Cisco Systems, Google, Microsoft and Qualcomm among the major vendors that struck funding deals with startups.
What follows are our picks for 10 IT startups to watch that raised VC funding in February.
Diamanti
Headquarters : San Jose, Calif.
CEO: Jeff Chou
Funding: $18 million, Series B
Investors : Northgate Capital (led the round), CRV, DFJ, Translink, GSR Ventures
What it does: Developer of a bare-metal hyper-converged infrastructure appliance that is built for containerized applications
Evident.io
Headquarters: Pleasanton, Calif.
CEO: Tim Prendergast
Funding: $22 million, Series C
Investors: GV (led the round), Bain Capital Ventures, True Ventures, Venrock
What it does: Creator of software that monitors public cloud workloads for security risks, then provides guidance about remediation options
Exabeam
Headquarters: San Mateo, Calif.
CEO: Nir Polak
Funding: $30 million, Series C
Investors: Lightspeed Venture Partners and Cisco Investments (co-led the round), Norwest Venture Partners, Aspect Ventures, Icon Ventures, Shlomo Kramer
What it does: Provider of security intelligence and management solutions that aim to replace the need for legacy SIEM products
Flo Live
Headquarters: Barcelona, Spain
CEO: Percy Grundy
Funding: $4.2 million, Series A
Investors: ARIE Capital, Golden Sunflower Capital
What it does: Developer of offerings for securing Internet of Things networks
Fuze
Headquarters: Cambridge, Mass.
CEO: Steve Kokinos
Funding: $104 million
Investors: Wellington Management Company (led the round), Greenspring Associates, Summit Partners, Bessemer Venture Partners, G20
What it does: Provider of a cloud-based unified communications platform, featuring voice, videoconferencing and collaboration services
Fungible
Headquarters: Santa Clara, Calif.
CEO: Pradeep Sindhu
Funding: $32.5 million, Series A
Investors: Mayfield, Walden Riverwood Ventures, Battery Ventures, Juniper Networks
What it does: Developer of full-stack offering for cloud data center infrastructure
Mojo Networks
Headquarters: Mountain View, Calif.
CEO: Rick Wilmer
Funding: $30 million (includes Series E and debt)
Investors: Presidio Partners, Trident Capital, Granite Ventures, North Haven Expansion Credit (sponsored by Morgan Stanley Private Credit and Equity), Walden Riverwood Ventures, Alpha Technologies
What it does: Provider of a cloud-managed Wi-Fi offering, focused on large enterprises and educational organizations
Pindrop Security
Headquarters: Atlanta
CEO: Vijay Balasubramaniyan
Funding: Undisclosed amount
Investors: John Chambers (executive chairman of Cisco)
What it does: Developer of technology for protecting against voice fraud, which is able to authenticate a person who is calling based on their voice
SnapRoute
Headquarters: Palo Alto, Calif.
CEO: Jason Forrester
Funding: $25 million, Series A
Investors: Norwest Venture Partners (led the round), Lightspeed Venture Partners, AT&T, Microsoft Ventures
What it does: Developer of FlexSwitch, an open network stack aimed at enterprises
Storj Labs
Headquarters: Atlanta
CEO: Shawn Wilkinson
Funding: $3 million, seed round
Investors: GV, Qualcomm Ventures, Techstars
What it does: Developer of an open-source, distributed cloud storage platform