As the holidays approach, investors seem in a giving mood. This week saw two rounds of more than half a billion dollars go to U.S.-based startups. In particular, two crypto companies made the top five, helping solidify that 2021 will be known as the year digital currencies truly arrived.
1. NYDIG, $1B, crypto: Crypto and bitcoin have been hot this year, and now they’ve claimed another $1 billion funding round. New York-based NYDIG closed a growth-equity funding round of $1 billion led by WestCap that values the company at more than $7 billion. Bessemer Venture Partners was one of several other firms in the round.
The company has a Bitcoin platform that enables delivery of the cryptocurrency across multiple industries and has capabilities such as asset tokenization and smart contracts.
2. Airtable, $735M, collaboration: Investors love tools that aid with collaboration and business flow. That love has helped San Francisco-based Airtable hit decacorn status. The platform, which helps companies improve workflow, raised a $735 million Series F led by XN at an $11 billion valuation—almost double its valuation from earlier in the year.
Founded in 2013, the company has now raised $1.4 billion, according to Crunchbase data.
3. Course Hero, $380M, edtech: Redwood City, California-based education platform Course Hero hit a $3.6 billion valuation after it closed a $380 million Series C led by Wellington Management. The company has gone on an acquisition spree the past couple years, buying other educational and learning companies, including CliffsNotes, LitCharts, QuillBot and Symbolab. With a healthy valuation and fresh cash, that buying could continue.
Founded in 2006, Course Hero has now raised more than $477 million, according to Crunchbase data.
4. Sysdig, $350M, cybersecurity: In the space of cloud and container security, it has almost become a game of “can you outdo this funding round?” Lacework, Orca Security and Sysdig all have raised multiple rounds at valuations of more than $1 billion. This week it was San Francisco-based Sysdig’s turn.
The company raised a new $350 million Series G led by Permira’s growth fund, a deal that more than doubled its valuation to $2.5 billion in just eight months. In April the company announced a $188 million Series F. The space has attracted investors’ attention as more companies move to the cloud and adopt container strategies to build out applications. Sysdig has now raised $744 million since being founded in 2014.
5. Anchorage Digital, $350M, crypto: Yet another crypto company makes the list, as San Francisco-based Anchorage Digital closed a $350 million Series D funding round led by KKR valuing it at $3 billion.
The company, which raised an $80 million Series C in February, offers a custody solution to large firms such as publicly traded companies or institutions, letting them store and manage crypto assets.
