10 Hot Startups That Raised VC Funding In May

Follow The Money

Venture capital firms are continuing to place bets on the enterprise move to the cloud. Increasingly, though, these investments are around a hybrid cloud model bringing together on-premises environments and public cloud. Our May VC deal list included fundings for three startups with cloud-focused products -- including Skykick, a provider of cloud migration and backup solutions, and Upbound, which offers a way to run services across multiple private and public cloud environments. Other segments that garnered venture rounds during the month included cybersecurity and data analytics, while an AI chip startup, Syntiant, also made our list with funding from Intel Capital.

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


Headquarters: Toronto

CEO: Stuart Lombard

Funding: $36 million

Investors: Caisse de dépôt et placement du Québec, AGL Energy Ltd., Business Development Bank of Canada

What It Does: Maker of smart devices that feature Amazon Alexa voice control, including a smart thermostat and smart light switch


Headquarters: Paris

CEO: Fred Plais

Funding: $34 million, Series C

Investors: Partech (led the round), Idinvest Partners, Benhamou Global Ventures, SNCF Digital Ventures, Hi Inov

What It Does: Developer of a continuous deployment cloud hosting solution


Headquarters: Redwood Shores, Calif.

CEO: Manish Sood

Funding: $45 million, Series D

Investors: New Enterprise Associates (led the round), Crosslink Capital, .406 Ventures, Sapphire Ventures

What It Does: Provider of the Reltio Cloud Self-Learning Data Platform, a platform-as-a-service system for master data management as well as predictive analytics and machine learning


Headquarters: Sunnyvale, Calif.

CEO: Guy Bejerano

Funding: $15 million, Series B

Investors: Draper Nexus (led the round), PayPal, Sequoia Capital, Deutsche Telekom Capital Partners, HPE Pathfinder

What It Does: Offers a platform for breach and attack simulation, which helps to predict attacks by providing a "hacker's view" of security systems at an organization


Headquarters: Seattle

Co-CEOs: Todd Schwartz and Evan Richman

Funding: $40 million

Investors: Navin Thukkaram, Tim Ferriss, Karl-Theodor zu Guttenberg, Craig Nerenberg

What It Does: Developer of cloud migration and backup solutions for products such as Microsoft Office 365


Headquarters: Irvine, Calif.

CEO: Kurt Busch

Funding: Undisclosed amount, Series A

Investors: Intel Capital

What It Does: Developer of a low-power semiconductor aimed at bringing machine learning to edge devices


Headquarters: Emeryville, Calif.

CEO: Orion Hindawi

Funding: $175 million

Investors: TPG Growth

What It Does: Provides technology for continuously scanning all endpoints in a network, in order to detect vulnerabilities and unmanaged devices


Headquarters: Palo Alto, Calif.

CEO: Ajeet Singh

Funding: $145 million, Series D

Investors: Lightspeed Ventures, Future Fund, Khosla Ventures, General Catalyst, Sapphire Ventures

What It Does: Offers an analytics platform for using "Google-like" search in order to analyze enterprise data and generate business insights


Headquarters: Washington, D.C.

CEO: John Ackerly

Funding: $37.5 million, Series B

Investors: Iconiq Capital (led the round), Bessemer Venture Partners, New Enterprise Associates, Samsung NEXT, Blue Delta Capital, Thyra Global, Soros Capital

What It Does: Provides data protection and data privacy solutions, for more easily controlling sensitive data wherever it's located


Headquarters: Seattle

CEO: Bassam Tabbara

Funding: $9 million, Series A

Investors: GV

What It Does: Offers solutions for running, scaling and optimizing an organization's services across multiple public and private cloud environments