Bay State tech companies are making moves in areas from healthcare to education. Several local companies pulled in ample funding last month to further their solutions as they strive to modernize the world one industry at a time. Learn which names raised the most capital in April and how they plan to invest it.
Largest Boston Funding Rounds, April 2023
- Cengage Group
- Orbital Therapeutics
- Cybereason
- 1upHealth
- Gridwealth
#5. $30 million, April 12
Headquartered in Sudbury, Gridwealth closed on a $30 million round of funding from Fidelity Bank to finance 10 commercial and industrial solar energy projects across the state of Massachusetts. Of these new projects, solar arrays in Marshfield and Pembroke are already operational.
#4. $40 million, April 12
1upHealth operates a cloud-based solution to help organizations connect, control and compute health data. With Series C funding led by Sixth Street Growth, 1upHealth will invest in product development and engineering, enhance its data cloud infrastructure and grow its customers and services teams. It’s aiming for further market expansion as it scales its health data solution.
#3. $100 million, April 3
Equipping enterprises with detection and prevention tools for threats like malware and ransomware, Cybereason is enhancing its tech with a $100 million investment from SoftBank. Cybereason’s solution leverages machine learning and behavioral analytics to give customers a contextualized view of an attack, enabling them to improve their response time. The funding will help Cybereason further its solutions and support global growth.
#2. $270 million, April 26
Biotech company Orbital Therapeutics wants to expand the applicability of RNA-based medicines across various human diseases in areas like vaccines, immunomodulation and protein replacement. Orbital’s platform combines established and emerging RNA tech solutions and delivery tools. The company secured Series A funding to back its medicines from lead investor ARCH Venture Partners.
#1. $500 million, April 17
Edtech company Cengage Learning has been around for a century, having evolved from a print publisher to a digital educator serving a range of student levels with various subject content. The company recently added cybersecurity education and skilled labor training capabilities to its solution. With its new investment from Apollo Funds, Cengage will invest in products and services in the education for employment area.
