Richmond startups are off to a hot, hot start for raising capital in 2019.
In all, at least six companies around the region brought in $57 million of funding in January.
That's a high number for a single month, led in large part by two massive deals. Enterprise SaaS company Decisiv, founded in 2002, tops the list with a $30 million funding round, and package-making startup TemperPack followed closely behind with a Series B round topping $22 million.
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Here are the Richmond-area companies that raised capital in January:
Decisiv
At the top of the venture capital targets was Glen Allen-based software company Decisiv, which took on $30 million of equity funding from a single investor last month. The tech firm makes service relationship management software for industries including trucking, construction and power.
TemperPack
Sustainable packaging maker TemperPack landed a $22.5 million Series B funding round. The raise was led by D.C.-based Revolution Growth, part of AOL co-founder Steve Case's VC firm Revolution, and brings its total funding to $40 million. Harbert Growth Partners, Arborview Capital, Tao Capital Partners and SJF Ventures also participated in the round.
Raincrow Studios
Harrisonburg-based video game company Raincrow Studios raised $2.6 million in equity from 29 investors, according to SEC filings. The firm was founded in 2010 and makes games using augmented reality, including Covens (which is in open beta) and The Vampire Tribunals. It previously raised a $600,000 seed round in 2013, according to Crunchbase.
OccasionGenius
Richmond-based travel software startup OccasionGenius hauled in at least $1 million in equity funding in an ongoing round. The raise so far includes 15 investors and is capped in filings at $2.5 million. It follows a pair of angel investment rounds in 2017 and 2018 that totaled $1.1 million.
Exactus
Glen Allen-based medical device maker Exactus raised $641,000 in a Series A round of funding, according to SEC filings. The fundraising effort, which was capped at $1 million, comes two years after the biotech startup raised $1.5 million in a venture round. Exactus is developing handheld diagnostic devices that measure indicators like blood clots and metastasis, according to its website. It's also pursuing opportunities with CBD, a stress-reducing compound found in cannabis and hemp plants.
Micronic Technologies
The Center for Innovative Technology's Virginia Founders Fund invested an undisclosed amount in Bristol, Va.-based Micronic Technologies, a developer of sustainable water-purification technology. Micronic plans to use the funding, terms of which were not disclosed, to finalize the design and fabrication of its flagship product, MicroEVAP. The Virginia Founders Fund launched in 2018 to focus on companies outside of Northern Virginia with a female, minority or veteran founder.
Honorable mentions:
Bankd
Under-the-radar Richmond app startup Bankd is looking to raise up to $1.5 million in financing, according to SEC filings, in a round that started Jan. 15. The app lets users buy, sell and manage digital assets including currencies, securities and intellectual property on a unified platform, its website says. Founded in early 2018, Bankd is currently in private beta testing and plans to launch a public beta test in Q3 this year.
Blue Heron Capital
Richmond-based investment firm Blue Heron Capital injected some capital into Northern Virginia's Verato, which makes patient-matching technology for healthcare providers and health information systems. It contributed an undisclosed amount to the health tech startup's $10 million Series C round.
