5 Cool Tech Companies That Raised Funding In March 2020

Big data and cloud automation innovators were among the companies that hauled in funding rounds in March.

Follow The Money

Even as the economic picture dimmed due to the COVID-19 pandemic last month, a number of innovative tech companies managed to complete major funding rounds in March. The deals ranged from a $175 million round for multi-cloud automation firm HashiCorp, to a $60 million deal for security operations center (SOC)-as-a-service provider Arctic Wolf, to a $20 million round for log data platform developer Humio. Among the notable investors taking part in the deals on our March list included Dell Technologies Capital and Cisco Investments.

What follows are our picks for five cool tech companies that landed new funding in March.

Arctic Wolf

Headquarters: Sunnyvale, Calif.

CEO: Brian NeSmith

Funding: $60 million, Series D

Investors: Blue Cloud Ventures and Stereo Capital (led the round), Delta-v Capital, NextEquity Partners

What it does: Offers a security operations center (SOC)-as-a-service

CEO Quote: "Arctic Wolf’s approach of providing businesses with dedicated experts who know their security landscape, and a predictable pricing structure they can understand, has resonated with organizations of all sizes who are looking to better secure their data. This new round of funding will allow us to accelerate the growth of our business so that we can provide even more companies with the personal, predictable protection that Arctic Wolf is known for."


Headquarters: Santa Clara, Calif.

CEO: Billy Bosworth

Funding: $70 million, Series C

Investors: Insight Partners (led the round), Cisco Investments, Lightspeed Venture Partners, Norwest Venture Partners, Redpoint Ventures

What it does: Offers a "data lake engine" that provides speedy queries along with a semantic layer (for indexing and searching metadata) that is self-service

CEO Quote: "Data is an integral part of every business, and in today’s market, cost-efficient approaches to data analytics are critical. Dremio’s Data Lake Engine makes analytics directly on data lake storage fast, efficient, and secure, which drives down cloud infrastructure costs while giving data consumers what they need, when they need it."



CEO: David McJannet

Funding: $175 million, Series E

Investors: Franklin Templeton (led the round), T. Rowe Price Associates, Inc., Geodesic Capital, GGV Capital, IVP, Mayfield, Redpoint Ventures, True Ventures

What it does: Provider of open-source and enterprise software for multi-cloud infrastructure automation

CEO Quote: "At HashiCorp, we are providing the Global 2000 with the critical software they need to adopt a cloud operating model for their infrastructure. Increasingly, our software is becoming mission critical to the largest organizations in the world, and we take our responsibility to deliver on their expectations very seriously."


Headquarters: London

CEO: Geeta Schmidt

Funding: $20 million, Series B

Investors: Dell Technologies Capital (led the round), Accel

What it does: Offers a platform for rapidly ingesting and analyzing log data

CEO Quote: "Nearly two years ago we introduced the first Unlimited Ingest Plan for self-hosted deployments and we are thrilled to now bring the first Unlimited Ingest Plans for Cloud. By providing the lowest total cost of ownership, industry-leading unlimited plans, minimal maintenance and training costs, and remarkably low compute and storage requirements, we’ve succeeded in driving rapid user adoption."


Headquarters: San Francisco

CEO: Salvatore Sferlazza

Funding: $30 million

Investors: Summit Partners

What it does: Offers cloud-based remote monitoring and management software used by MSPs

CEO Quote: "Summit's financing will enable us to move even faster, deliver more value to our customers and accelerate market leadership ... We've always strived to deliver a product that continuously exceeds expectations, and as the largest independent RMM solution on the market, we're proud of what we've accomplished in such a short amount of time."