2021 has been a year of breaking records for the Atlanta technology ecosystem.
Georgia startups raised $3 billion in the first three quarters, smashing 2019’s previous record. More local venture capital firms are raising funds than ever before. Massive tech corporations have announced thousands of new jobs in the city.
Atlanta is attracting growth because of its diverse talent pool, low costs of living and doing business, and its Fortune 500 companies.
Atlanta is also part of a larger trend. More investors are putting their dollars in venture capital funds, and those funds had a bottleneck of capital they needed to untangle and invest after the pandemic slowdowns. Company valuations are up, especially in the Southeast, which also increases investment amounts.
Eleven local startups raised “mega deals,” or rounds of more than $80 million, in 2021. That’s up from last year, when only five startups raised that amount or more. Five startups reached unicorn status, or valuations of more than $1 billion, this year. Last year, one startup hit that milestone.
Here are the startups that raised the most money in 2021.
Calendly raises $350M
The cloud scheduling platform raised $350 million after years of bootstrapping. Previously, it raised a $550,000 seed round led by local firm Atlanta Ventures when the platform first started in 2013. Since the massive investment from OpenView Venture Partners, Calendly has added new executives and transitioned to a fully remote work environment. The startup expects to have 500 employees by the middle of 2022 and is supplementing its lack of an office with WeWork subscriptions and periodic in-person team meetings.
Greenlight Financial Technology raises $260M
The Atlanta Inno Blazer winner raised $260 million about six months after surpassing a $1 billion valuation in September 2020. Silicon Valley-based Andreessen Horowitz led the round with participation from Atlanta-based TTV Capital. Greenlight provides debit cards for children and a family oriented money management platform. The startup plans to hire 300 people in the next two years, which would bring its team to more than 575.
OneTrust raises $210M
The data privacy and security company raised $210 million in April. Founded in 2016, OneTrust has a valuation of more than $5 billion, $510 million in investments and 1,500 employees. OneTrust’s growth indicates an emerging, global market for privacy and security tools that allow companies to use customer data while balancing trust and government regulations, OneTrust Co-Chairman Alan Dabbiere said. Part of OneTrust’s growth comes from acquisitions, which it uses to build out its products.
Salesloft raises more than $100M
The sales engagement startup bookended the year with two massive fundraises. A $100 million round led by New York-based Owl Rock Capital pushed the startup to unicorn status in January. Salesloft scored another investment from Vista Equity Partners in December but declined to disclose the amount. That round bumped up the Atlanta Ventures-incubated startup to a $2.3 billion valuation. Salesloft has more than 700 employees and offices around the world.
Stord raises $155M
The supply chain technology startup, an Atlanta Inno Blazer winner, surpassed a $1 billion valuation after a $90 million investment round led by Kleiner Perkins, six months after a $65 million round led by Bond. The cloud-based supply chain management software and logistics network helps mid-market businesses deliver products more efficiently. Its growth comes during a year of high demand for technology that helps alleviate strains on the supply chain. Stord grew from 160 to 400 employees, acquired a fulfillment provider and opened new warehouses across the country in the past year.
Flock Safety raises $150M
The crime surveillance startup raised $150 million with a goal to reduce crime in the U.S. by 25% in the next three years. Silicon Valley’s Andreessen Horowitz led the round, which brings Flock Safety’s total investments to about $250 million. The company has more than 200 employees and tripled the size of its Atlanta office in 2021. The startup produces cameras for neighborhoods and police departments that analyze cars and licenses plates to help investigate crimes.
LendingPoint raises $125M
The financial technology startup raised $125 million from New York-based private equity firm Warbug Pincus in January, bringing its total investments to $325 million. The startup provides quick loans to small businesses and consumers based on job and financial history, income and credit behavior, rather than just credit score.
SUNDAY raises $124M
The fintech startup came into the Atlanta market strong with a $24 million seed round followed by a $100 million round led by Coatue five months later. The startup launched globally with offices in London, New York, Atlanta, Paris, Madrid and Barcelona to capture the restaurant payment market. The remote-first company is based in the Atlanta Tech Village. It hired 170 within six months of its debut and acquired Montreal-based CHK PLZ to expand its presence in Canada. The startup is targeting unicorn status and is working to double its team.
FullStory raises $103M
The digital experience startup raised $103 million to surpass a $1 billion valuation in August. Permira, a global private equity firm based in Europe, led the round. The raise came about two years after its Series C round, which was $32 million. FullStory was founded in 2014 by former Google engineers and has more than 3,100 customers in 60 countries. The startup has 300 employees and is focused on hiring and expanding its international presence.
Reibus raises $95M
The supply chain tech startup hit a $750 million valuation, with a $75 million funding round led by SoftBank Vision Fund in November. It came a few months after the startup raised a $20 million Series A round. Reibus has more than 120 employees, with most of them hired in 2021. The startup is expanding its team and European business in the next year.
Terminus raises $90M
The account-based marketing software startup raised $90 million, led by Boston’s Great Hill Partners, to expand internationally. Terminus, incubated by Atlanta Ventures, was an Atlanta Inno Blazer winner, raising $120 million in total investments. The startup has more than 200 employees in its Atlanta, Indianapolis and San Francisco offices. Some of its growth in the past few years has come from its acquisitions strategy.
