June 2024 Venture Growth Funding Recap

In May 2024, Growthink Capital Research tracked a significant increase in new venture funding, reaching $7.07 billion, up from the $5.72 billion recorded in April 2024.

The month’s biggest funding event belonged to Metropolis ($1.8 billion) a computer vision-based operating platform intended to modernize parking and facilitate the future of mobility, enabling real estate partners to optimize net operating income and asset owners to access modern parking amenities and multi-modal mobility options.

Fourteen companies raised $100 million or more in May. Other than Metropolis, the other thirteen companies that raised the most are as follows:

  1. Scale AI ($1 billion) a data-oriented platform intended to provide training and validation data for artificial intelligence applications, enabling clients to accelerate the development of artificial intelligence applications through ground data.
  2. Vercel ($250 million) a cloud-based workflow platform intended to optimize the entire development and deployment experience for frontend teams enabling developers to receive the performance benefits they need efficiently.
  3. AltruBio ($225 million) an antibody therapeutics platform designed to assist in the treatment of cancer and immune-related inflammatory diseases, enabling patients to recover from immune-mediated diseases.
  4. Sigma ($200 million) a cloud data warehouse analytics software designed to analyze complex databases enabling clients to explore, analyze, and visualize data without the help of a data specialist.
  5. Restaurant365 ($175 million) a restaurant enterprise management software designed specifically for restaurants helping simplify the day-to-day management of operators and allowing users to control food costs and optimize labor.
  6. Altruist ($169 million) a digital investment platform designed to help financial advisors serve their clients, enabling advisors to help clients make proper and informed choices with their money.
  7. Yendo ($165 million) credit card platform intended to provide an asset-backed credit product enabling users to have prime APR credit without checking their FICO score.
  8. Harness ($150 million) a delivery-as-a-service platform designed to simplify the software delivery process, enabling software engineers to save time by automating the scripting process.
  9. Clasp Therapeutics ($150 million) a cancer immunotherapeutics platform intended to help clinical-stage immuno-oncology companies to develop therapeutics enabling cancer-specific markers to precisely and selectively target tumor cells for destruction.
  10. Weka ($140 million) a software-defined storage technology designed to offer high-performance and scalable file storage for data-intensive applications enabling enterprises to build differentiated storage systems and convert data for revenue.
  11. Transcarent ($126 million) a consumer-directed health and care platform designed to facilitate improved outcomes and cost-effective decisions enabling customers to exercise choice and transparency for addressing a broad range of challenges faced in the modern healthcare system.
  12. Alkira ($100 million) a network cloud company intended to provide on-demand hybrid and multi-cloud network connectivity enabling enterprises to build and deploy global hybrid or multi-cloud network-as-a-service in a short period.
  13. Karius ($100 million) a clinical laboratory testing center intended to focus on generating genomic insights for infectious diseases enabling physicians to make rapid life-saving treatment decisions in a hassle-free manner.


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The hottest sectors for funding during the month were A.I./Machine Learning, Biotech, Healthtech, Business/Productivity Software, and Cryptocurrency/Blockchain.

Key funding events in each of these sectors for the month are below:

  1. A.I./Machine Learning deals included Scale AI ($1 billion), Rad AI ($50 million), Voxel51 ($30 million), Peregrine ($30 million), Verse ($20.5 million), Expedera ($20 million), RunPod ($20 million), Daloopa ($18 million), Bolster ($14 million), GaiaNet ($10 million), Overland AI ($10 million), GoodShip ($8 million), Baselayer ($6.5 million), Monitaur ($6 million), and ThinkLabs AI ($5 million).
  2. Biotech deals included AltruBio ($225 million), Clasp Therapeutics ($150 million), Karius ($100 million), Delphia Therapeutics ($67 million), Progentos Therapeutics ($65 million), Prologue Medicines ($50 million), Brixton Biosciences ($33 million), Gameto ($33 million), Nabla Bio ($26 million), OverT Bio ($16 million), Radar Therapeutics ($13.4 million), Lucy Therapeutics (LucyTx) ($12.5 million), Matter Bio ($7 million), Think Bioscience ($6 million), and Portal Biotechnologies ($5 million).
  3. Healthtech deals included Transcarent ($126 million), SmarterDx ($50 million), Atropos Health ($33 million), Sift Healthcare ($20 million), Truveris ($15 million), Watershed Health ($13.6 million), Neurable ($13 million), Switchboard Health ($6.5 million), Posterity Health ($6 million), and Phenomix ($5.5 million).
  4. Business/Productivity Software deals included Lumos ($35 million), Coactive ($30 million), Gorgias ($29 million), Ndustrial ($18.5 million), Max Retail ($15 million), and ChangeEngine ($10 million).
  5. Cryptocurrency/Blockchain deals included Babylon ($70 million), Securitize ($47 million), Lagrange Labs ($13.2 million), Plume Network ($10 million), Fortunafi ($9.5 million), and Baxus ($5 million).

If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.

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