10 Cool Companies That Raised Funding In February 2024

Venture capital firms are opening the spigots to provide funding to early-stage startups and established companies – with companies that mention “AI” on their resume among the big winners. Here’s a look at 10 companies that successfully raised new funding in February.

Follow The Money

The venture capital space continues to show signs of exiting the slump it has been in since 2022 as investors open their wallets to provide funding for both early-stage startups and established, fast-growing companies.

Prior to the funding slump, businesses with cybersecurity and big data products were most prevalent among the startups receiving infusions of venture capital. Now artificial intelligence is the hot technology with many of the companies being funded either developing AI platforms and development tools or offering new products that in some way incorporate AI.

Case-in-point is Lambda, the company that tops the Follow the Money list for February, which raised a stunning $320 million in Series C funding. Lambda provides a GPU-based cloud platform, the Lambda Reserved Cloud, for training and running AI applications.

AI is also a key component in the technology being developed by other companies in this month’s roundup including Glean, Intenseye, Rasa and Finally.

Cybersecurity remains a key area for venture capital investments, however, as evidenced by NinjaOne’s $231.5 million Series C funding.

Here’s a look at 10 companies that raised funding in February 2024.


Headquarters: Santa Clara, Calif.

CEO: Stephen Balaban

Funding: $320 million in Series C funding.

Investors: The round was led by US Innovative Technology Fund with participation from new investors B Capital, SK Telecom, T. Rowe Price Associates, and existing investors Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, among others.

What company does: Lambda provides a GPU-based cloud platform, the Lambda Reserved Cloud, for training and running AI applications.

CEO Quote: “Lambda’s mission is to build the No. 1 AI compute platform in the world. To accomplish this, we’ll need lots of NVIDIA GPUs, ultra-fast networking, lots of data center space, and lots of great new software to delight you and your AI engineering team.”


Headquarters: Austin, Texas

CEO: Sal Sferlazza

Funding: $231.5 million in Series C funding.

Investors: The round was led by ICONIQ Growth with participation by former Snowflake CEO Frank Slootman and Datadog President Amit Agarwal.

What company does: NinjaOne develops an IT platform for endpoint management, security and visibility.

CEO Quote: “ICONIQ Growth’s investment in NinjaOne is being used to make our customers more successful. We are quadrupling down on customer support, heavily investing in platform and product innovation to solve and automate more use cases, and ensuring the business can scale to meet our customers’ needs. We are in the decade of the endpoint, fueled by a wave of workers pushed remote and hybrid during and since the pandemic. Whether you are an MSP in charge of running and protecting other peoples’ businesses, or a CIO in charge of one, endpoints pose a significant risk and opportunity.”


Headquarters: Palo Alto, Calif.

CEO: Arvind Jain

Funding: More than $200 million in Series D funding.

Investors: The round was led by existing investors Kleiner Perkins and Lightspeed Venture Partners with participation from existing investor Sequoia Capital; new investors Coatue, ICONIQ Growth, IVP, Latitude Capital, and Adams Street; strategic investors Capital One Ventures, Citi, Databricks Ventures, and Workday Ventures; and support from existing investor General Catalyst.

What company does: Glean develops a generative AI-powered work assistant platform, incorporating the company’s search and RAG (retrieval augmented generation) technology, that connects and understands a company’s knowledge.

CEO Quote: “We are at the beginning of one of the biggest transformations in technology; generative AI is an incredibly powerful technology that will unleash productivity and new efficiencies, but it must be applied in the right ways to be useful and safe in the enterprise. Our approach to bringing generative AI into the enterprise has centered around the powerful search and RAG technology that’s critical for making LLMs useful in the enterprise, and the customer success we’ve seen in the last year validates our approach.”


Headquarters: San Francisco

Co-Founder: Taylor Francis

Funding: The $100 million Series C funding round boosted Watershed’s valuation to $1.8 billion.

Investors: The round was led by Greenoaks with participation from existing investors including Kleiner Perkins, Sequoia Capital, Elad Gil, Emerson Collective, Galvanize Climate Solutions, Neo, and others.

What company does: Watershed develops an enterprise sustainability platform that helps organizations measure, report and act on their emissions.

Co-Founder Quote: “Corporate climate action is accelerating. Companies of all sizes and sectors are making sustainability a board-level priority, and we are supporting them as they work to measure, report, and reduce their emissions. This new investment will bolster our mission to accelerate the climate economy.”


Headquarters: Santa Clara, Calif.

CEO: Poojan Kumar

Funding: $75 million in Series A funding.

Investors: The round was led by existing investor Sutter Hill Ventures with participation from existing investors Index Ventures and Altimeter Capital, as well as from new investor NewView Capital.

What company does: Clumio provides autonomous data protection and backup and recovery services for workloads running on the AWS cloud platform.

CEO Quote: “If you look at what we have done so far and what our ambitions are at the end of the day, we are strong believers in building an independent company that focuses on public cloud backup workloads,” Kumar said. “And we're just getting started here with the depth and breadth we have on AWS, and we have tons to go into. So the round of financing is really to go accelerate our go-to-market as well as accelerate our R&D and innovation on protecting public cloud workloads.”


Headquarters: San Jose, Calif.

CEO: Said Ouissal

Funding: $72 million in Series C funding, bringing its total funding to $127 million.

Investors: The round was led by Smith Point Capital with participation from new investors Hillman Company, LDV Partners, Endeavor Catalyst Fund and Forward Investments, along with returning investors Lux Capital, Almaz Capital, Coast Range Capital, Juniper Networks, Emerson Ventures, Chevron Technology Ventures, 5G Open Innovation Lab, Rockwell Automation and Porsche Ventures.

What company does: Zededa develops technology that extends the cloud experience to the edge and reduces the cost of managing and orchestrating distributed edge infrastructure and applications while increasing visibility, security and control.

CEO Quote: “This latest round of investment validates our leadership position as the preferred choice of large enterprises for their edge management and orchestration needs. Our unique and innovative product is powering the explosive demand of ubiquitous edge computing, underpinning our customers’ AI and real-time data analytics initiatives. With this funding, we are well-positioned to further extend the cloud operational infrastructure model everywhere, to continue to delight our customers and to realize our vision of powering the next era of computing.”


Headquarters: New York

CEO: Sercan Esen

Funding: $64 million in Series B funding.

Investors: The round was led by new investor Lightspeed Venture Partners with participation from existing investors Insight Partners, Point Nine and Air Street Capital.

What company does: Intenseye develops AI-powered workplace safety solutions that detect workplace hazards.

CEO Quote: “The scope, scale, and costs of workplace incidents are escalating rapidly, underscoring the critical need for AI-driven solutions that help pinpoint and mitigate hazards while aligning to the highest standards of accuracy, privacy, and enterprise readiness. Intenseye isn't just a 'nice to have'— we’re proud to be at the forefront of a long-overdue transformation that is empowering EHS [environmental health and safety] leaders to more effectively and efficiently protect their frontline teams. We’re honored that dozens of Fortune 500 innovators rely on Intenseye to transform workplace safety across their facilities.”


Headquarters: Berlin, Germany

CEO: Melissa Gordon

Funding: $30 million in Series C funding.

Investors: The round was co-led by StepStone Group and PayPal Ventures with participation from Andreessen Horowitz (a16z), Accel and Basis Set Ventures.

What company does: Rasa develops a generative AI conversational platform that enterprises use to build and deliver next-level AI assistants.

CEO Quote: “This investment accelerates our lead in the market and fuels our drive to redefine what is possible for businesses using generative AI-powered chat and voice platforms at scale. With our technology, we’re well-positioned to transform how businesses interact with their customers, making every conversation impactful and personal. We will use the funding to advance our technological leadership and strengthen our market presence.”


Headquarters: Miami

CEO: Felix Rodriguez

Funding: $10 million in additional capital. The company raised $95 million in Series A funding in 2022.

Investors: The round was led by PeakSpan Capital with participation from Active Capital.

What company does: Finally has developed an AI-powered accounting and finance application suite targeted toward small and mid-size businesses.

CEO Quote: “When vendor tools are scattered, business owners are too. We’re energized by this injection of capital and know it will supercharge our efforts to give SMB owners the best tools to grow their businesses.”


Headquarters: Boston

CEO: Fabrice Saporito

Funding: The company launched with a $1.3 million funding round.

Investors: The round was led by Tola Capital and partner Aaron Fleishman.

What company does: BlueBean develops all-in-one procure to pay software that helps businesses manage their expenses and lower purchasing costs.

CEO Quote: “BlueBean offers procurement, simplified. We give you the deals as part of the package. We’re your team, tech and policy – all in one single extension that accesses the best prices with an easy user experience that requires zero software, supplier onboarding or training. We’re excited to have Tola on board with its expertise and commitment to our shared vision of a transformational product experience that delivers discount pricing and cost savings directly to businesses.”