Boston tech raised over $1.1B in 2017: Here are the top 10 rounds of funding

by Justine Hofherr
December 27, 2017

As 2017 draws to a close, it’s safe to say that Boston tech saw incredible support from venture capital firms this year, with 10 startups pulling in over $1.1 billion in total funding. From healthtech to cybersecurity, industries across the tech ecosystem raised funds to improve products, expand globally and hire in droves. Here are the top rounds of funding from 2017.

 

datarobot
Photo via DataRobot

10. DataRobot

Date: July 29, 2017

Amount: $67 million

DataRobot, a startup offering an enterprise machine-learning platform that allows users of all skill levels to make business predictions faster, was able to double the size of its research and development team thanks to a $67 million Series C round of funding that closed in July of this year.

 

kaminario
Photo via Kaminario

9. Kaminario

Date: January 10, 2017

Amount: $75 million

Kaminario is an all-flash storage company founded by storage experts from companies such as EMC, NetApp and IBM. Kaminario aims to create one of the most scalable and cost-effective all-flash primary storage solutions on the market. Fun fact: Kaminario’s most recent round of funding was actually $35 million more than the company was seeking, but the interest was so great, it ballooned to $75 million by the time they were done.

 

patientslikeme
Photo via PatientsLikeMe

8. PatientsLikeMe

Date: January 5, 2017

Amount: $100 million

PatientsLikeMe, a patient network that connects more than 400,000 patients living with 2,500 conditions, pulled in a $100 million round at the beginning of the year from iCarbonX. In addition to connecting patients with one another, the platform also provides users with the ability to find new treatment options, bringing patient voices directly into the research development process.

 

clearmotion
Photo via ClearMotion

7. ClearMotion

Date: February 1, 2017

Amount: $100 million

ClearMotion, a startup building an alternative chassis for vehicle makers that replaces traditional physical shock absorbers with digital, software-driven parts, hopes to create a much smoother driving experience. The company’s most recent round of funding will help aid ClearMotion’s mission of creating an in-car experience that will actually make it enjoyable to spend long periods of time working or relaxing in autonomous vehicles.

 

cybereason
Photo via Cybereason

6. Cybereason

Date:  June 21, 2017

Amount: $100 million

Founded by Israeli intelligence cybersecurity experts, startup Cybereason raised a fresh $100 million Series D round this year led by repeat investor SoftBank. The Japanese multinational telecommunications company nearly doubled its 2015 Series C investment of $59 million for the cybersecurity company with this latest round.  The funding comes after Cybereason increased annual revenue by 500 percent last year and grew its workforce by 200 percent to nearly 300 employees. The company is working to reinvent how major companies and brands secure critical assets by introducing military-grade tech across enterprises, leveraging machine learning and behavioral analytics to mitigate cyber threats.

 

toast
Photo via Toast

5. Toast

Date: July 25, 2017

Amount: $101 million

With a cool $101 million Series C, investment led by Generation Investment Management and Lead Edge Capital, it became clear this year that Toast is on track to become the fastest-growing restaurant tech company in the United States. The round was used to double the Boston-based restaurant tech giant’s team from 500 to 1,000 employees nationwide, as well as to continue building out Toast’s cloud-based platform. The company offers everything from tableside ordering, menu modifications, online ordering and labor management services.

 

desktop metal
Photo via Desktop Metal

4. Desktop Metal

Date: July 17, 2017

Amount: $115 million

Desktop Metal, a local 3D printing startup, became a unicorn after raising a $115 million Series D round this year, putting the company's post-money valuation above $1 billion. The round also marked the largest individual private round for a metal additive manufacturing company ever.

 

draftkings
Photo via DraftKings

3. DraftKings

Date: March 9, 2017

Amount: $118 million

DraftKings, a leading provider of online fantasy sports featuring contests that allow users to compete against one another for cash prizes, raised a whopping $118 million Series D round this spring led by Eldridge Industries LLC. This year was pretty chaotic for DraftKings, which called off a planned merger with FanDuel in July amid federal scrutiny and anti-trust concerns.

 

fuze
Photo Via Fuze

2. Fuze

Date: May 4, 2017

Amount: $134 million

Fuze is a global, cloud-based unified communications platform that lets employees communicate with one another via voice, video and messaging apps across devices no matter where they are located. With the latest round of funding, Fuze, which has around 700 employees, appeared to be laying the groundwork for an initial public offering – perhaps sometime in early 2018. The funding was initially set for $104 million in February, but Fuze added another $30 million to the round in May, led by investor Wellington Management LLP.

 

indigo
Photo via Indigo

1. Indigo

Date: December 5, 2017

Amount: $203 million

Indigo Agriculture, one of Boston tech’s latest unicorns, raised an additional $47 million in December to close its Series D round at $203 million. The largest investor in the second close was Investment Corporation of Dubai (ICD). The round supported Indigo’s global commercial expansion, as well as its investment in the plant microbiome, in which the company identifies beneficial microbes that naturally reside within plants, and applies those microbes to modern seeds to increase crop productivity and resilience in the face of environmental stressors, pests and diseases.

 

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