The Week’s Biggest Funding Rounds: Scale AI Tops Busy Week For AI Investment

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This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out the biggest funding rounds of last week here. 

It was another big week for AI-related funding, topped off by Scale AI’s massive new investment from Meta. We also saw big rounds for startups in sectors including cybersecurity, networking, enterprise software and robotics, among other areas.

1. Scale AI, $14.3B, gen AI: San Francisco-based Scale AI, a provider of training data and model evaluation for AI applications, announced Thursday that it raised a new investment, reportedly totaling $14.3 billion, from Meta at a valuation of $29 billion. The agreement will also expand Scale and Meta’s commercial relationship, with Scale’s founder, Alexandr Wang, joining Meta to work on its AI efforts.

2. Cyera, $540M, cybersecurity: Data security platform Cyera announced that it raised $540 million in a Series E round with backers including Georgian, Greenoaks and Lightspeed Venture Partners. The round brings total funding for the New York- and Israel-headquartered company to $1.3 billion, per Crunchbase data.

3. Meter, $170M, networking: San Francisco-based networking infrastructure provider Meter announced that it raised $170 million in a Series C financing led by General Catalyst. Meter was founded in 2015 and has raised $255 million to date, per Crunchbase data.

4. Glean, $150M, AI work assistant: Enterprise AI startup Glean announced that it has raised $150 million in a Series F round led by Wellington Management at a $7.2 billion valuation. The latest fundraise took place just nine months after Palo Alto, California-based Glean announced a $260 million Series E that doubled the company’s valuation to $4.6 billion.

5. Gecko Robotics, $125M, robotics: Pittsburgh-based Gecko Robotics, an AI and robotics startup developing a platform for building and operating infrastructure for defense, energy and manufacturing sectors, announced that it raised a Series D round at $1.25 billion valuation. The round reportedly totaled $125 million, with Cox Enterprises as lead investor.

6. (tied) Fervo Energy, $100M, geothermal energy: Houston-based Fervo Energy, a developer of geothermal energy projects, announced that it raised $100 million in equity financing from Breakthrough Energy Ventures’ Breakthrough Energy Catalyst platform. The company also picked up $106 million in debt financing from Mercuria and X-Caliber Rural Capital for a major geothermal project in Utah.

6. (tied) Laurel, $100M, timesheet management: Laurel, provider of an AI-enabled platform for tracking time spent by knowledge workers, raised $100 million in a Series C led by IVP. Founded in 2016, San Francisco-based Laurel has raised $156 million to date, per Crunchbase data.

8. Linear, $82M, software development tools: San Francisco-based Linear, a provider of project planning tools for software development, announced that it raised $82 million in Series C financing led by Accel. The financing sets a $1.25 billion valuation for the 6-year-old company.

9. (tied) Mosanna Therapeutics, $80M, sleep apnea treatment: Mosanna Therapeutics, a startup based in Silicon Valley and Basel, Switzerland that is developing a nasal spray for obstructive sleep apnea, raised $80 million in initial funding led by Pivotal bioVenture Partners and EQT Life Sciences.

9. (tied) Coco Robotics, $80M, delivery robots: Santa Monica, California-based Coco Robotics, a startup operating a fleet of small, self-driving delivery vehicles, raised $80 million in a funding round that includes SNR.vc, Sam Altman, Pelion Venture Partners and Outlander VC. Coco said it plans to deploy 10,000 autonomous delivery vehicles by the end of 2026.

9. (tied) Canary Technologies, $80M, hospitality software: San Francisco-based Canary Technologies, a provider of hotel guest management software, raised $80 million in a Series D round led by Brighton Park Capital. The financing brings funding to date for the 8-year-old company to $177 million, per Crunchbase data.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of June 7-13. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration: Dom Guzman