10 Cool Tech Companies That Raised Funding In June 2022

Next-generation technology developers in database and data management, security analytics, universal APIs, and software-defined data storage were among the companies reporting new rounds of funding.

Follow The Money

As the state of the global economy grows more uncertain and stock markets continue to lose ground, some observers expect that the amount of venture capital flowing to startup companies will begin to slow. While that may still happen, there are few signs that the venture capital pipelines providing funding to promising IT startups is running dry.

Here’s a look at 10 companies that raised funding in June 2022.

Startup companies pushing technology boundaries in cybersecurity continue to dominate our monthly list of companies attracting significant amounts of venture funding. Companies developing IT in big data, cloud data storage and API connectivity also make this month’s Follow the Money roundup.

DataStax, a developer of distributed NoSQL database software and a cloud database-as-a-service, tops the June list with an impressive $115 million funding round. Also on the list is Immuta, a provider of data access and data security governance software, with a $100 million funding round.

Five of the companies on the June list are developing leading-edge IT security technology including Devo Technology with its logging and security analytics system, email security provider Vade, Ordr and its security technology for connected devices, identity authentication and fraud protection software developer Incognia, and Seemplicity with its productivity platform for security teams.

Other companies raising funding in June are providing advanced universal API software, software-defined data storage systems, and behavior data for use in AI and advanced analytics systems.


Headquarters: Santa Clara, Calif.

CEO: Chet Kapoor

Funding: The $115 million private equity funding round brought DataStax’s total funding to $342.6 million since its 2010 founding.

Investors: The round was led by the growth equity business within Goldman Sachs Asset Management. Also participating were RCM Private Markets fund advised by Rokos Capital Management and the Singapore-based global investor EDB Investments Pts. Ltd., along with existing investors Crosslink Capital, Meritech Capital Partners, OnePrime Capital and other current investors.

What company does: DataStax develops the DataStax Enterprise distributed NoSQL database that is designed to handle huge volumes of data. It also offers the Astra DB database-as-a-service.

CEO Quote: “We see the transformative power of real-time applications across industries on a daily basis and among customers such as The Home Depot, Verizon, and Capital One. What‘s clear is that we’re only in the early stages of what‘s possible with new data-driven experiences that will serve a wide range of human needs, create virtuous cycles between companies and their customers, and move markets.”


Headquarters: Boston

CEO: Matthew Carroll

Funding: The $100 million Series E funding round brought Immuta’s total financing to $267 million.

Investors: The round was led by NightDragon and included new investor Snowflake Ventures, the venture capital arm of data cloud giant Snowflake. Other participants include existing investors Dell Technologies Capital, DFJ Growth, IAG, Intel Capital, March Capital, StepStone, Ten Eleven Ventures and Wipro Ventures.

What company does: Immuta develops data access and data security technology.

CEO Quote: “There is a major shift in the modern data stack as organizations scale to derive value from their data more quickly, while also protecting their data assets and adhering to privacy regulations. We’ve entered the next wave of the cloud data evolution where automation and security are essential to meeting modern cloud and data demands.”

Devo Technology

Headquarters: Cambridge, Mass.

CEO: Marc van Zadelhoff

Funding: The $100 million Series F funding round increases the company’s total funding to more than $500 million since its 2011 founding and boosts its valuation to $2 billion.

Investors: The round was led by Eurazeo with participation by all other existing investors including Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures. And ISAI Cap Venture provided a strategic investment.

What company does: Devo develops a cloud-native logging and security analytics system that provides real-time visibility for security and operations teams.

CEO Quote: “Security teams are facing more threats than ever—regardless of industry or geography—and that challenge is compounded by the difficulty of hiring and retaining talent, a lack of visibility into the full attack surface, and the speed and scale necessary to keep up with not just growing threats, but the growth of their organizations. This round of funding allows us to deliver on the autonomous SOC through continued innovation of our technology, expand to more regions to serve more customers, and consider more M&A opportunities.”


Headquarters: New York

CEO: Pete Lord

Funding: The $100 million Series C round brings Codat’s total funding to more than $160 million.

Investors: The round was led by J.P. Morgan Growth Equity Partners. Canapi Ventures and Shopify participated in the round and Plaid was publicly named as an investor for the first time. Existing investors Index Ventures and PayPal Ventures also participated.

What company does: Codat develops a universal API for small business data, providing real-time connectivity that enable application developers and financial institutions to build integrated products for small businesses.

CEO Quote: “Today, we’re in the age of ‘dial-up’ when it comes to business data. Despite radical advancements in other areas of technology, in 2022 the majority of small business systems still don‘t speak to each other, creating hours of painful admin and serious barriers to growth. No one will be speaking about SMB financial software integrations in five [to] 10 years - automated data flows over the Codat platform will be a presumed standard. The only time you’ll notice integrations is when they are not there.”

Lightbits Labs

Headquarters: San Jose, Calif., and Tel Aviv, Israel.

CEO: Eran Kirzner

Funding: The $42 million in growth capital funding brings the company’s total financing to more than $100 million since the company’s 2016 founding.

Investors: The round was led by new investor Atreides Management along with J.P. Morgan, Valor Equity Partners, Eyal Ofer’s O.G. Tech, Pacific Century Group founder and chairman Richard Li, existing investors including Dell Technologies and Intel, and others.

What company does: Lightbits develops a software-defined NVMe data storage platform for cloud-native data centers.

CEO Quote: “We already have a significant set of customers that are moving to production and basically increase their footprint with Lightbits. Existing customers are spread over the areas of edge cloud providers, private cloud providers, and cloud service providers.”


Headquarters: Santa Clara, Calif.

CEO: Greg Murphy

Funding: The $40 million Series C funding round brings Ordr’s total funding to more than $90 million since its 2015 founding.

Investors: The round was co-led by Battery Ventures and Ten Eleven Ventures with participation from new investor Northgate Capital and continuing investors Wing Venture Capital, Unusual Ventures, Kaiser Permanente Ventures, and the Mayo Clinic. Other investors in the round include Silicon Valley entrepreneurs Rene Bonvanie (the former CMO of Palo Alto Networks), Dan Warmenhoven (former CEO of NetApp), and Dominic Orr (former CEO of Aruba Networks).

What company does: Ordr develops security technology for connected devices including IoT, medical IoT and operational technology.

CEO Quote: “We believe the connected device security market needs a strong, open, and independent player that prioritizes customer success, focuses on time-to-value, and integrates with all the key components of a customer’s security and network infrastructure. This funding validates our best-in-class approach and solidifies our leadership in the market.”


Headquarters: London, U.K.

CEO: Alex Dean

Funding: The $40 million Series B funding round brings Snowplow’s total funding to $55 million.

Investors: The round was led by global venture capital firm NEA with participation from existing investors Atlantic Bridge and MMC.

What company does: Snowplow generates, enhances and models high-quality, granular behavior data for use in AI, machine learning and advanced analytical applications.

CEO Quote: “Snowplow was built to solve the need for predictive, behavioral data to drive decisions [and] insights in a privacy conscious and scalable way. Snowplow places the power of behavioral data into the hands of the teams that need it most, directly into their existing data infrastructure.”


Headquarters: Tel Aviv, Israel

CEO: Yoran Sirkis

Funding: Seemplicity emerged from stealth with $26 million in Series A funding, following an earlier $6 million seed funding round.

Investors: The Series A round was led by Glilot Capital Partners, by way of its Glilot+ early growth fund, along with new backers NTTVC and Atlantic Bridge, and previous backers S Capital (which led the seed round) and Rain Capital.

What company does: Seemplicity develops a risk reduction and productivity platform for modern security teams.

CEO Quote: “ While the security industry excels at identifying weaknesses and vulnerabilities, it falls incredibly short when it comes to remediation and assurance. Security teams need a workflow tool to help them keep the queue moving, remediate more issues in less time, and scale their operations.”


Headquarters: San Francisco

CEO: Georges Lotigier

Funding: The 28 million euro round was worth approximately $30 million.

Investors: Investors included Tikehau Ace Capital, Auriga Partners, and the French government through French Tech Souverainete.

What company does: Vade develops AI-based email security technology that protects against advanced cybersecurity threats including phishing, spear phishing and malware.

CEO Quote: “Vade has experienced tremendous growth and with remote work becoming commonplace, even after the pandemic, cybersecurity is at the top of most companies’ priority list. We have built a highly profitable company in a competitive market, largely due to our constant innovation and anticipating the unexpected. This latest funding round will help us realize our ambitious plans to significantly grow in markets like North America and Asia.”


Headquarters: Palo Alto, Calif.

CEO: Andre Ferraz

Funding: The Series A round raised $15.5 million.

Investors: The funding round was led by Point72 Ventures.

What company does: Incognia develops mobile identity authentication and fraud protection software.

CEO Quote: “Today’s authentication and fraud detection solutions aren’t working for the user, or for businesses, and the market is looking for more innovative technologies. Incognia is pushing the frontier of identity assurance and authentication to deliver increased security with minimal user friction. We’re emerging as the global location identity leader, effectively combating the increasing fraud on mobile around the world. We’re dedicated to enabling our customers to deliver frictionless mobile experiences without compromising security and privacy.”