10 Hot Startups That Raised VC Funding In March

Follow The Money

As more businesses large and small begin to embrace the Internet of Things, venture capital firms are investing in the next wave of startup technologies to drive the IoT market forward. Our March VC deal list included two up-and-coming startups that focus on IoT, including Samsara, which raised a $50 million round from prominent venture firms Andreessen Horowitz and General Catalyst Partners. Meanwhile, cybersecurity remained one of the hottest spaces for VC funding during month, with four of the companies on our March list working in security. Other startups that hauled in funding during the month included companies specializing in data management, IT performance monitoring, enterprise software integration and cloud data integration.

What follows are our picks for 10 IT startups to watch that landed new funding in March.


Headquarters: San Francisco

CEO: Ashish Gupta

Funding: $26 million, Series C

Investors: Triangle Peak Partners (led the round), Blackbird Ventures, Costanoa Ventures, Industry Ventures, Paladin Capital Group, Rally Ventures, Salesforce Ventures, Stanford, Hostplus, First State Super

What it does: Provides a crowdsourced security platform used for testing and improving an organization's cybersecurity systems


Headquarters: Tel Aviv, Israel

CEO: Nitzan Shapira

Funding: $4.1 million

Investors: Lightspeed Venture Partners (led the round), StageOne Ventures and Stratoscale CEO Ariel Maislos

What it does: Offers automated performance monitoring technology for serverless architectures

Imanis Data

Headquarters: San Jose, Calif.

CEO: John Mracek

Funding: $13.5 million

Investors: Canaan Partners, ONSET Ventures, Intel Capital, Wipro Ventures, Asset Plus Capital

What it does: Provides a data management platform based on machine learning, which includes cloud migration and backup/recovery tools


Headquarters: Berkeley, Calif.

CEO: Eliot Sun

Funding: $6 million, Series A

Investors: Aspect Ventures (led the round), Bow Capital, Alibaba Taiwan Entrepreneurs Fund, Heavybit, Ajay Shah, Tim Draper, David Sacks

What it does: Offers a platform for enterprise software integrations; the company's unified API products connect applications such as Salesforce, SharePoint, Box, Dropbox, G Suite and ServiceNow

Luminate Security

Headquarters: Palo Alto, Calif.

CEO: Ofer Smadari

Funding: $14 million, Series A

Investors: U.S. Venture Partners, Aleph Venture Capital, Microsoft’s ScaleUp program

What it does: Provides a software-as-a-service security platform for managing access to corporate resources from any device


Headquarters: Altrincham, United Kingdom

CEO: Matthew Scullion

Funding: $20 million, Series B

Investors: Sapphire Ventures (led the round), Scale Venture Partners, YFM Equity Partners

What it does: Offers three cloud data integration tools: Matillion ETL (for Amazon Redshift), Matillion ETL (for Snowflake) and Matillion ETL (for Google BigQuery)


Headquarters: London

CEO: Ferruh Mavituna

Funding: $40 million

Investors: Turn/River Capital

What it does: Provides web application security scanning software, which automatically discovers security flaws in websites, web applications and web services


Headquarters: San Francisco

CEO: Sanjit Biswas

Funding: $50 million

Investors: Andreessen Horowitz, General Catalyst Partners

What it does: Offers an enterprise IoT platform to help customers improve the efficiency of their operations using real-time GPS tracking, wireless sensors, video and mobile applications


Headquarters: London

CEO: Guy Podjarny

Funding: $7 million, Series A

Investors: Boldstart Ventures and Canaan Partners (led the round), Heavybit, FundFire, Veeam Co-CEO Peter McKay

What it does: Provides a security solution for finding and fixing vulnerabilities in open-source libraries


Headquarters: Toronto

CEO: Michael Monteith

Funding: $20 million, Series A (includes debt)

Investors: Yaletown Partners, BDC Capital, Round13 Capital, Epic Capital, Comerica

What it does: Offers the Ambiant industrial Internet of Things platform, which provides interconnection and orchestration solutions for objects and workflows