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10:10 | 24 July 2023

This is a weekly column about the five biggest funding rounds of the past week.

We continue our weekly column on the top 5 venture capital rounds of the past week.

Last week we saw venture capital funding from a wide variety of industries.
Leading the way were dental startups, body shaping apparel, and enterprise software development. There is hardly a correlation between these sectors

Gradiant, $225M

Sector: dentistry.
Dental startups seem to be getting a lot of attention lately. Last month, Birmingham, Alabama-based HighFive Healthcare, which allows dental office chains to centralize their operations, closed a $100 million investment led by Norwest. Last week, Dallas-based Smile Doctors, which operates more than 400 dental practices in 28 states, announced that it had raised more than $550 million in financing. The dental group did not disclose the investors, saying only that the round was “funded by doctors as well as several large domestic and international healthcare investors.” The company was founded in 2015 and this is the first announced outside round.

Skims, $270 million

Sector: Apparel.
Kim Kardashian’s clothing brand reached a $4 billion valuation last week after Skims raised $270 million in a funding round led by Wellington Management.
Just early last year, the lingerie and corrective apparel brand raised $240 million in a round led by Lone Pine Capital, which valued the company at $3.2 billion. The startup, which offers everything from lingerie to leisure wear, expects sales to grow from $500 million last year to $750 million this year.

o9 Solutions, $116 million

Sector: enterprise software.
Another company that received a significant chunk of cash in January 2022 received another chunk of growth capital this past week. Dallas-based o9 Solutions, which offers cloud-based solutions to help companies with planning and operations, raised $116 million led by General Atlantic’s BeyondNetZero fund. The new investment values o9 at $3.7 billion, up from $2.7 billion after a previous round of $95 million a year and a half ago. The company was founded in 2009 and has raised $533 million.

K Health, $59M

Sector: artificial intelligence.
Artificial intelligence often tops this list, but this past week it was a bit of an outlier. New York-based K Health, whose mobile app uses artificial intelligence to deliver personalized primary care, raised $59 million from funds such as Valor Equity Partners, Primary Ventures and others. The company achieved unicorn status back in 2021 when it raised a Series E of $132 million at a valuation of $1.4 billion, but its value may have reportedly fallen sharply since then. The company was founded in 2016 and has raised more than $330 million.

Hammerspace, $57 million

Sector: data.
Data orchestration platform Hammerspace raised $56.7 million last week led by Prosperity7 Ventures, its first round of institutional investment. The San Mateo, California-based startup, which launched in 2018, helps companies leverage the unstructured data that makes up 90% of corporate data, which could become even more important as users look for additional data to train artificial intelligence and machine learning technologies.


We’ve summarized last week’s results and hope you found the information useful. Stay tuned for more information.

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