#29: (10/28/24) Early & Growth Stage Tech Startup Funding Recap!
Check Out This Week's Venture Capital Investment Summary Spanning Early & Growth-Stage US Based Environmental Technology & Enterprise Software Startups!
Every Monday, the team here at Bearhug Recruiting aggregates, researches, and publishes a recap of the prior week's fundraising activity within the early and growth-stage Environmental Technology & Enterprise Software startup ecosystem.
This research not only allows us to keep our finger on the pulse of the markets we serve, but also benefits others who, like us, enjoy analyzing the latest trends that signal investor confidence AND startup growth within what we believe are the most exciting and impactful segments!
We also hope the people and companies we feature enjoy both a virtual fist bump from the team at Bearhug, plus benefit from some additional free market exposure to amplify their mission. Make sure you reach out to any that are interesting/relevant that you might be able to help!
Here’s this week’s startup funding recap:
Pantheon AI, led by David Mace, has raised a $25 million Series A funding round. Pantheon provides artificial intelligence-enabled architectural services that streamline processes for developers, owners, and tenants. Initially focused on office buildings, the company now offers its services to a range of building types, including multifamily and hospitality. Pantheon aims to deliver faster iteration cycles than traditional firms, with a long-term goal of evolving into a software-as-a-service provider. The company currently employs 11 full-time staff members. Pantheon plans to expand its commercialization efforts across various U.S. markets. The round was led by Andreessen Horowitz (Kimberly Tan) with participation from Felicis (Sundeep Peechu) and 8VC (Drew Oetting). [Link] #PropTech #Artificial Intelligence #SaaS #Customer Engagement Software #Customer Experience Software #Sustainability Tech #Environmental Technology
BiltOn, led by Omer Slavin, has raised a $15 million Series B funding round. BiltOn provides construction operations and risk management software tailored for owners and general contractors. Supporting over 1,200 companies across 3,000 job sites, the platform includes tools like 3D facial recognition for workforce verification, automated time tracking, and compliance management. Accessible on both web and mobile, BiltOn integrates with industry tools like Procore and Autodesk, serving various construction sectors and meeting New York City regulatory standards. The company plans to expand its national footprint and enhance its platform's capabilities. The round was led by PSG Equity (Ronen Nir, Rachel Levy), with participation from Titan Capital and 97212 Ventures. Kudos to Chaifetz Group (Ross Chaifetz), for participating in prior funding rounds as well. [Link] #ConTech #Compliance Software #Construction Software #Data Integration Platform #Environmental Technology #Sustainability Tech
Carbon Ridge, led by Chase Dwyer, has raised a $9.5 million Series A funding round. Carbon Ridge develops modular onboard carbon capture and storage (OCCS) solutions for the maritime shipping industry to reduce greenhouse gas emissions. Its OCCS technology integrates with vessel exhaust systems, providing a compact, cost-effective alternative to traditional CCS systems with up to a 75% reduction in equipment size. Carbon Ridge’s decarbonization suite includes CO2 transportation, sequestration, and credit monetization, offering shipping clients a full-spectrum solution. The company intends to advance the commercial demonstration of its patent-pending OCCS technology. The round was led by Crosscut Ventures (Rick Smith, Brian Garrett) and Western Technology Investment (WTI), with participation from existing investors The Grantham Foundation, Berge Bulk, Rusheen Capital Management, Plug and Play Ventures, Katapult Ocean, Incite, Spitzer Industries, and Canopy Generations Fund. [Link] #ClimateTech #Maritime Tech #Carbon Capture #Environmental Technology #Sustainability Tech #CleanTech
Paccurate, led by James Malley, has raised an $8.1 million Series A funding round. Paccurate provides a packing intelligence platform that optimizes parcel shipping processes by helping shippers identify ideal carton configurations and pack orders efficiently. Its patented technology integrates cartonization with simulation and monitoring tools to reduce fulfillment costs, minimize waste, and meet regulatory requirements. Paccurate’s clients include large retailers and shippers, such as Daily Harvest, Our Place, and Barrett Distribution Centers. The company plans to enhance its platform capabilities, build new partnerships, and strengthen customer support. The round was led by High Alpha, with participation from Tech Square Ventures (Blake Patton, Bill Nussey, Scott Lopano), Grand Ventures, HPA (Hyde Park Angels), Las Olas Venture Capital, Springtime Ventures (Matt Blomstedt), and Royal Street Ventures. [Link] #Supply Chain Tech #Logistics Software #Sustainability Tech #Environmental Technology #Data Analytics Platform #Compliance Software
Formic, led by Saman Farid, has received an investment from Mitsubishi Electric Corporation through its ME Innovation Fund. Formic designs, develops, and maintains industrial robots, focusing on solutions for tasks like palletizing and packaging for small and medium-sized businesses. The company provides a full-service approach, offering deployment, installation, and maintenance, with financing and subscription-based options that reduce customer burdens. Formic's solutions aim to accelerate automation in manufacturing to address labor shortages through accessible and optimized robotic systems. The company plans to evolve its business model, making automation solutions even more accessible for customers. The round was led by Mitsubishi Electric Corporation (TOKYO: 6503) via its ME Innovation Fund. Kudos to Alumni Ventures (David Shapiro, Aoife Fortin, Erin Burke), Blackhorn Ventures (Melissa Cheong), for participating in prior funding rounds as well. [Link] #Industrial Automation #Robotics #Manufacturing Tech #Advanced Manufacturing #Sustainability Tech #Environmental Technology
Recyclops, led by Ryan Smith, has received an investment from BDev Ventures. Recyclops offers a waste management platform that supports landfill diversion initiatives nationwide. Working with communities and enterprises, Recyclops provides recycling services in areas lacking infrastructure and diverts challenging materials like solar panels, diapers, and hard-to-recycle plastics. Certified as a B Corp, the company is dedicated to reducing waste through a sustainable, technology-driven approach to recycling. The company plans to expand services, improve technology, and enter new markets. The round was led by BDev Ventures (Collin Groves), granting Recyclops access to WinDifferent, a proprietary lead generation platform. Kudos to Lerer Hippeau (Andrea Hippeau, Tanaz Mody), for participating in prior funding rounds as well. [Link] #Waste Management Tech #Sustainability Tech #Environmental Technology #Circular Economy #Recycling Tech
TollBit, led by Toshit Panigrahi, has raised a $24 million Series A funding round. TollBit enables digital publishers to license content per use and receive immediate payments, ensuring AI companies can directly access the data they need in real time. The platform allows publishers to monetize AI bot traffic and integrates easily with AI and LLM partners. TollBit has onboarded over 200 publisher sites, including partners like Penske Media Corporation, TIME, and ADWEEK. The company plans to expand operations and its business reach. The round was led by Lightspeed and Section 32, with participation from angel investors Jeff Dean and Manuel Bronstein. Kudos to Sunflower Capital Partners (Liu Jiang), AIX Ventures (Richard Socher, Anthony Goldbloom, Pieter Abbeel), Lerer Hippeau (Ben Lerer), for participating in prior funding rounds as well. [Link] #Artificial Intelligence #AI Marketplace Tech #Generative AI #Data Infrastructure #Content Management System #AI Agent
Attention, led by Anis Bennaceur, has raised a $14 million Series A funding round. Attention provides an AI-powered platform designed to help sales and revenue teams improve customer conversations by automating the extraction of actionable insights. The platform enables businesses to make informed decisions, enhance performance, and drive growth through optimized interactions. Current customers include Crunchbase, BambooHR, Aircall, and Clay, who benefit from the platform’s insights to strengthen sales outcomes. The company plans to enhance market demand, expand its go-to-market team, and continue investing in product and engineering to lead the AI-driven sales market. The round was led by Alven, with participation from Eniac Ventures (Hadley Harris, Nihal Mehta, Timothy Young), 645 Ventures (Aaron Holiday, Nnamdi Okike, Randi Jakubowitz), Aglae, Frst, and Liquid 2 Ventures (Joe Montana, Michael Ma, Mike Miller). Kudos to MGV (Marc Steven Schröder), for participating in prior funding rounds as well. [Link] #SalesTech #AI Agent #Artificial Intelligence #Sales Intelligence Software #Sales Productivity Software #GTM Platform
Fixify, led by Matt Peters, has raised a $25 million Series A funding round. Fixify provides an AI-powered IT help desk solution that combines technology with analysts to create an IT help desk experience tailored to each company's environment. The platform’s features include automated ticket categorization, integration with productivity tools, and the ability to toggle specific use cases, enhancing user support while allowing IT teams to focus on complex priorities. Fixify partners with companies like JIRA, ServiceNow, Microsoft, Google, and Slack for seamless integration. The company plans to scale its workforce and accelerate product development. The round was led by Costanoa Ventures (Tony Liu, Katy Wiley), Decibel Partners (Dan Nguyen-Huu, Lauren Ipsen), and Paladin Capital Group, with participation from Scale Venture Partners. [Link] #Artificial Intelligence #IT Ops #Machine Learning #AI Agent #Data Monitoring Platform #Cyber Security Tech
Nooks, led by Dan Lee, has raised a $43 million Series B funding round. Nooks is an AI-powered platform designed to help sales teams improve efficiency by automating tasks like prospecting, dialing, and coaching. The platform’s AI assistants streamline sales processes, conduct pre-call research, and provide call coaching, helping sales development representatives and account executives increase conversion rates. Integrating with tools like Outreach, Salesloft, Hubspot, and Salesforce, Nooks enables teams to optimize their workflows and achieve faster ROI. The company plans to expand its sales team and business reach to meet growing demand. The round was led by Kleiner Perkins with participation from existing investors Lachy Groom and Tola Capital (Sheila Gulati, Amanda Konarek). [Link] #SalesTech #AI Agent #Artificial Intelligence #Sales Productivity Software #Sales Automation Software #GTM Platform #Conversational AI
Urbint, led by Corey Capasso, has raised a $35 million growth equity funding round. Urbint provides an AI platform focused on identifying and mitigating threats to workers, infrastructure, and communities. Using industry science, the platform detects risks at worksites to prevent safety incidents, especially in energy and infrastructure. Urbint’s Storm Response solution aids utilities in managing logistics, emergency work, and resource allocation in real-time, enhancing resilience for some of North America’s largest energy companies and communities. The company plans to further develop its resiliency and storm response solutions for utilities. The round was led by S2G Ventures (Bala Nagarajan) with participation from Energize Capital (Tyler Lancaster), Blue Bear Capital (Carolin Funk, Paige Carratturo), National Grid Partners, Zoma Capital, and Climate Investment. Kudos to Piva Capital (Ricardo Angel, Mark Gudiksen), for participating in prior funding rounds as well. [Link] #Artificial Intelligence #Public Safety Tech #ClimateTech #Environmental Technology #Risk Management Tech #Energy Tech
*Note: The companies we feature in our weekly recap are a very small subset of a much larger batch, carefully chosen based on our team's assessment of how each company aligns with our GTM search practice. It’s worth noting that most startups raise funding rounds privately, often long before the news is announced publicly!
