Companies in the Boston tech sector are on the rise following a month full of nine-digit venture rounds. Shaping innovations for industries across the board, from marketing to biotech, learn what these startups have planned with their hefty sums of fresh capital.
#6. $165 million, May 18
Employing the power of AI to improve the science of diagnosing health conditions, the company closed on its Series C funding round that was co-led by D1 Capital Partners and Kaiser Permanente. PathAI is investing in building out its suite of product offerings as well as its commercial footprint. It’s looking to further its partnerships with pharmaceutical and diagnostic entities as well.
#5. $208 million, May 13
In the midst of climate change, this Cambridge-based biotech company developed tech that can manipulate genetic diversity of seeds and enable them to grow in different regions. It raised $208 million in a funding round led by Flagship Pioneering and has officially gained unicorn status. Inari is looking to invest the fresh cash in furthering its platform as well as its work with certain crops.
#4. $220 million, May 6
Protecting insurance companies against fraud, Shift Technology secured a Series D round of funding led by Advent International. It’s planning to invest in continued digitization of the global insurance industry by furthering its R&D efforts and expanding its presence. Following this latest round of funding, Shift Technology has officially been included among Boston’s tech unicorns.
#3. $320 million, May 18
With over $675 million in funding to date, email marketing unicorn Klaviyo is building out its tech and its team. Its AI- and machine learning-based platform helps companies send out targeted texts and emails. Klaviyo’s Series D, led by Sands Capital, allows the company to up its sales and marketing efforts as well as fuel international marketing expansion. It’s planning to bring on 500 new members with most of those positions based out of Boston.
#2. $440 million, May 28
The company offers blockchain-enabled payments technology for businesses of all sizes. Founded in 2013, the company plans to use this fresh round of private equity to drive its market expansion and growth. The company is next believed to be planning to go public via a SPAC deal.
#1. $775 million, May 26
With its Series A mega-round, Perch is planning to continue its work acquiring and growing third-party Amazon sellers. SoftBank Vision Fund 2 that brings Perch’s total funding to $900 million. To date, the company has acquired 70 brands. Now, it’s looking to invest in its tech platform to create a seamless integration process for brands and merchants.
