10 Cool Tech Companies That Raised Funding In June
MLOps tech developer Striveworks, workflow automation developer Parabola and data observability system provider Telmai are among the companies that raised new financing in June, a list led by specialized cloud service provider CoreWeave.
Follow The Money
The pool of available venture capital and other funding sources remains relatively shallow after nearly drying up completely last year amid the stock market’s decline. Where funding rounds of $100 million or more were once common before 2022, most funding rounds being trumpeted today – with one notable exception on the June Follow the Money list – are around or below $50 million.
It’s encouraging, nevertheless, to see an increasing number of technology startups scoring Seed and Series A funding rounds across a broad range of technologies. This month’s roundup includes startups focused on iPaaS, workflow automation, database technology, machine learning, data observability, API development and application consolidation.
Here’s a look at 10 companies that raised funding in June 2023.
Headquarters: Roseland, N.J.
CEO and Co-Founder: Michael Intrator
Funding: The $200 million Series B extension, coming just one month after $221 million in Series B funding, brought the total round to $421 million.
Investors: The latest funding was provided by Magnetar Capital, which also led the earlier Series B funding.
What company does: CoreWeave is a specialized cloud service provider for large-scale, GPU-accelerated workloads.
CEO Quote: “In my 25-year career, I’ve never been a part of a company that’s growing like this. It’s an incredible moment in time. From a demand standpoint, revenue and client scale, the rise has been exponential, and Magnetar has been an amazing partner from the beginning.”
Headquarters: Weston, Fla.
CEO: Rodrigo Bernardinelli
Funding: The $60 million Series A funding round follows a $25 million Series round in February 2022 and a $6 million seed round in February 2019.
Investors: The round was led by the Growth Equity business within Goldman Sachs Asset Management. Other investors included Leadwind, a growth fund at K Fund (a leading venture capital firm in Southern Europe), Vivo Ventures (the corporate venture capital arm of Brazilian telecommunications company Vivo), and Kinea and G2D (two of Latin America’s largest private equity firms).
What company does: Digibee’s integration platform as-a-service (iPaaS) helps organizations build flexible, highly scalable integration architecture for connecting applications and business processes.
CEO Quote: “Digibee is delighted to receive this investment to help expand our steady growth and market share in the United States, and to help all of our global customers accelerate business outcomes by reducing technical debt and showstoppers associated with integration requirements. The funds will help Digibee and our growing customer base redefine integration as a task that many can perform rather than a job that requires advanced and highly limited skills to perform. The benefit for our customers will be ever-increasing ability and agility to support innovation and digital transformation with rapid and facile integration.”
Co-Founder and CEO: James Gasteen
Funding: The company exited stealth with $35 million in seed funding including $25 million in debt and $10 million in equity.
Investors: Investors included LocalGlobe, Concentric, FJ Labs and Atempo Growth.
What company does: The company plans to assemble the world’s largest Salesforce product suite by acquiring, scaling and consolidating Salesforce-focused ISVs.
Company Statement: “The Salesforce ISV ecosystem is one of the world’s largest and represents a huge opportunity for motivated entrepreneurs. Yet for many founders, scaling is a significant challenge that takes a specific set of skills, knowledge and experience in order to unlock the ecosystem’s full potential. By acquiring different players and bringing them together, we can supercharge their expansion, helping them build teams, reach more customers and share costs.”
Headquarters: Austin, Texas
CEO: Jim Rebesco
Funding: The company raised $33 million in an all-equity funding round, the company’s first institutional fundraising.
Investors: The round was led by Centana Growth Partners, a growth equity firm that invests in financial technology and related enterprise software. Other existing investors also participated in the round.
What company does: Striveworks develops a machine learning operations (MLOps) platform for enterprise data science and data analytics teams.
CEO Quote: “At the end of the day, decision makers need to make timely, data-driven decisions. Analytics, sitting under the hood, make that possible, but those decisions and the analytics they draw from need to be measurable, observable, and ethical. At Striveworks, we strongly believe these MLOps processes that keep those analytics performant can and should be done at high speed, behind the scenes and with the lowest user impact possible. This new funding allows us to continue to build and refine our industry-leading MLOps platform to support our partners and enable them to efficiently manage the vast amount of data the world has to offer, bringing the platform to where the data and decisions are made.”
Headquarters: San Francisco
Co-Founder and CEO: Jorge Torres
Funding: The additional $25 million in financing brings the startup’s total seed capital to $41.5 million and its total funding to $50 million.
Investors: The additional funding was led by new lead investor Mayfield, with participation from TQ Ventures and existing investors.
What company does: MindsDB develops says its mission is to “democratize machine learning” with its open-source infrastructure that enables developers to quickly integrate machine learning capabilities into applications and connect any data source with any AI framework.
CEO Quote: “ MindsDB is possible because of the incredible open-source community behind it, which has spent five years constantly testing and perfecting our technology. We are excited to be the most production-grade AI development solution in the market, accessible for companies of all sizes.”
Headquarters: San Francisco
Founder and CEO: Alex Yaseen
Funding: A $24 million Series B funding round.
Investors: The round was led by OpenView with participation from existing investors Matrix and Thrive Capital. Additional new investors include Flexport, Webflow, and the founders of Harry’s, Warby Parker and Allbirds.
What company does: Parabola develops a collaborative data tool that enables non-technical teams to develop, document and share automated workflows for manual, spreadsheet-based processes.
CEO Quote: “For the past few years, we’ve been working with incredible operators at category-defining companies who were drowning in manual work. Using Parabola, they’ve achieved tremendous value nearly overnight by automating the messy processes they thought were un-automatable. From modern companies like Sonos and Flexport to 90-year-old businesses like NFI that are rapidly transforming, Parabola has helped teams achieve immediate ROI. This new funding means we can help far more companies unlock the latent potential within their teams.”
Headquarters: Tel Aviv, Israel
Co-Founder and CEO: Ariel Mashraki
Funding: In addition to announcing the $18 million Series A funding the company announced a previously undisclosed $3 million Seed round.
Investors: The round was led by Tiger Global and TLV Partners with participation from undisclosed angel investors.
What company does: Ariga develops a database schema-as-code platform that software engineers use to define and manage database schema through code, reducing complexity and facilitating easier database management.
CEO Quote: “Making database changes part of the DevOps flow was a revolution for application development. But we’ve come a long way in the last 10 years, and database schema management needs to catch up; manual planning and verification does not cut it anymore.”
Headquarters: San Francisco
Co-Founder and CEO: Sagar Batchu
Funding: The $7.6 million in seed funding, following a $3.3 million pre-seed round in 2022, brought the company’s total financing to $10.9 million.
Investors: The latest funding round was led by GV with participation from Quiet Capital, Firestreak Ventures, Flex Capital and StoryHouse Ventures. Quiet Capital led the pre-seed round. Angel investors include Kleiner Perkins partner Bucky Moore, Redpoint Ventures principal Jordan Segall, Datadog president Amit Agarwal, Cribl co-founder and CEO Clint Sharp, and Attentive CTO Todd Berman.
What company does: Speakeasy just exited stealth with its API infrastructure platform for managing the development and use of APIs and improving the API developer experience.
CEO Quote: “Every company today has to reinvent the wheel when it comes to providing great API developer experiences. Speakeasy enables great API DevEx out-of-the-box, resulting in huge top-line returns to API adoption and bottom-line returns to focus, time and cost.”
Headquarters: San Francisco
Co-Founder and CEO: Mona Rakibe
Funding: $5.5 million in a seed funding round.
Investors: The round was co-led by Glasswing Ventures and .406 Ventures with participation from current investors including Zetta Venture Partners.
What company does: Telmai’s data observability software is used to monitor and maintain data quality, reliability and accuracy. The Telmai platform helps data teams automate the process of monitoring data pipelines, using a range of data quality metrics and KPIs, and proactively detect and investigate data anomalies in real time.
CEO Quote: “Companies want to use data to field more business opportunities and not focus their data engineering time on figuring out what’s bad or what’s missing in the data. They want to focus instead on use cases for the data and what ROI they can get. I feel like we are just scratching the surface of the data observability space, the opportunities are so huge.”
Co-Founder and CEO: Yuliia Tkachova
Funding: $1.3 million in pre-seed funding.
Investors: The funding was led by Focal with participation from SMOK Ventures, DEPO Ventures, Monochrome and Alchemist Accelerator. Angel investors from Snowflake, former Uber employees, former Google employees, and privacy and security professionals also participated.
What company does: The Masthead Data data observability platform provides a complete view of all data anomalies, pipeline anomalies and schema changes in Google Cloud in real time without the need to integrate with ETL systems.
CEO Quote: “One of the biggest fears of executives is using self-serve BI tools and having no way to verify the accuracy of their data. Achieving data observability is a huge challenge for data engineering teams when they have thousands of tables in their warehouse and hundreds of [Google] Looker dashboards. Masthead proactively alerts data teams about data or pipeline issues so data engineers can prevent them from affecting business users.”