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S.F.-based Pragli, also known as Pesto, was developing office productivity software to enable virtual meetings. The co-founders announced that the company would shut down on Nov. 12. They founded it in 2019 and raised $6 million, according to PitchBook.
Image provided by Getty Images (Johnny Greig)
Palo Alto-based Kittyhawk, the autonomous aircraft developer backed by Google co-founder Larry Page, announced in September that it was winding down its operations and laying off its workforce. It raised an estimated $75 million, according to PitchBook.
Sunnyvale-based Omnee, also known as Omnify, was creating location-based analytics for places like malls and shopping centers. The company raised $2.8 million since 2018 and shut down in September, according to PitchBook.
iStock (Csondy)
Self-cleaning glass technology company InnovaSonic filed for Chapter 7 bankruptcy protections in September. The Dublin-based company raised $260,000 since 2016, according to PitchBook.
InnovaSonic
San Mateo-based home buying company Reali laid off its entire workforce, or 140 people, and shut down in August. It raised $160 million since 2015, according to PitchBook.
Courtesy of Reali
Sonoma-based spirits manufacturer Haus announced in August that it was shutting down after an investor pulled out of a funding round, according to the SF Chronicle. It raised $8.5 million since 2019, according to PitchBook.
Michael Gorecki
Nexkey was developing smart locks for keyless entry, but the San Mateo company shut down in August and raised just over $10 million since 2013, according to PitchBook.
Vicki Thompson
Mountain View-based Presdo was developing a management and analytics platform for events. It was founded in 2007 and had raised $3.1 million before shutting down in August, according to PitchBook.
Cinova was optimizing video for streaming. It had raised $18.5 million since 2005 and shut down in August, according to PitchBook.
Short-term rental startup WanderJaunt shut down in July, impacting as many as 200 workers and sending users with active reservations scrambling. It had raised $57 million since 2016, according to PitchBook.
Provided by WanderJaunt
Mountain View-based Veriphyr Inc. filed for Chapter 7 protections in July. The company developed software to help health care provider comply with privacy laws.
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The Redwood City biotech filed for Ch. 11 bankruptcy in July, according to the WSJ, and in September, a bankruptcy court approved the sale of Genapsys's assets to a group of investors for $42 million, according to Law360.
Courtesy of GenapSys
San Mateo-based SummerBio launched in 2020 and developed an automated system to process Covid-19 tests quickly but in June announced it was shutting down and laying off its entire workforce. In August, the company said it was going into "standby-mode." It raised a little over $7 million, according to PitchBook.
SummerBio
Palo Alto-based Carfit was developing a way to monitor vibrations in a car to predict maintenance needs. The company shut down in May and raised just under $7 million since 2016, according to PitchBook.
Lightvision, LLC / Getty Images
Founders Den, a networking and co-working space for startup founders based in San Francisco, filed for Chapter 7 bankruptcy in May. It was founded by Jonathan Abrams, Jason Johnson (pictured on the right), Michael Levit and Zachary Bogue.
Courtesy of August Home
Ontera, a Santa Cruz diagnostics company, was developing a hand-held device with biosensors. It shut down in April and had raised just over $65 million since 2011, according to PitchBook.
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Mountain View-based Athenascope was developing a tool to make it easier for gamers to grab gameplay highlights. It shut down in April and raised $12.3 million since 2018, according to PitchBook.
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MySupport was building a platform for seniors and people with disabilities to connect with service providers. The S.F. company raised just over $1 million since 2014 and shut down in April, according to PitchBook.
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San Jose-based MIODx was developing a diagnostics platform centered around adaptive immune response. It raised $1.5 million since 2014 and went out of business in April, according to PitchBook.
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Berkeley and Fresno-based Zero Grocery was building a grocery delivery marketplace focused on reducing plastic waste that partnered with local producers, but shutdown in March a month after announcing a $12 million seed round.
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Based in Palo Alto, Mesmer Eyes was developing AI-powered bots intended to help accelerate product development and testing. The company raised $19 million since 2017 and shut down in March, according to PitchBook.
Getty Images (chombosan)
Mountain View-based Matter was a platform for musical artists to monetize their work. The company raised $650,000 since 2018 and shut down in June, according to PitchBook.
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Redwood City-based Voiq was founded in 2011 and shut down in March, according to PitchBook. The company was developing conversational AI assistants for customer services and sales.
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USB Promos created promotional USB products. It raised nearly $4 million since 2006 and shut down in March, according to PitchBook.
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S.F.-based Plethora was creating a "manufacturing-as-a-service" business. It over $47 million, including debt, since 2013 and shut down in March, according to PitchBook.
Plethora
Wage was developing employment and income verification tools but the Palo Alto company shut down in March, according to PitchBook. It had raised $5 million since 2018.
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Visbit was developing a streaming video platform that would maintain high definition even over wireless networks. The Sunnyvale company raised $8.2 million since 2015 and shut down in February, according to PitchBook.
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Akora Labs was developing a tool called Shuffle for sharing podcast clips. The S.F. company was founded in 2020, raised $2 million and shut down in February, according to PitchBook.
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Multerra Bio was developing diagnostics devices that could be used for multiple tests. The S.F. company was founded in 2015 and raised $3.5 million before shutting down in January.
The Consumer Financial Protection Bureau sued Oakland-based loan startup LendUp in 2021 for violating a 2016 consent decree and engaging in "illegal and deceptive marketing." It shutdown down its main operations in January 2022, according to PitchBook, and its parent company, Ahead Money, reportedly started liquidating its assets in August, according to Protocol. It had raised nearly $375 million, including debt, since 2012, according to PitchBook.
LendUp
There are still a couple of months left in the year, but 2022 has already seen its fair share of startups around the Bay Area that have stumbled and shutdown or filed for bankruptcy.
At least two dozen startups stopped operating, including one that subsequently announced it was "transitioning to standby-mode" after laying off all of its employees.
Menlo Park-based SummerBio launched just a couple of months after the Bay Area went under shelter-in-place orders in 2020. The company developed an automated Covid-19 testing protocol that it claimed could process up to 110,000 tests daily, but with waning demand, SummerBio laid off its entire workforce in June and prepared to close its laboratory. A month later, the company announced it was placing its equipment in storage for future use.
Bay Area and Fresno-based Zero Grocery abruptly shut down in March about one month after announcing a $12 million seed round. The startup was building a same-day grocery delivery service that prioritized reducing plastic waste and having good labor practices.
"The customer interest was massive and growth was huge for us over these last few years," founder Zuleyka Strasner said at the time, "but ultimately we could not sustain and fundraising was our big obstacle... My hope is that the investment community continues to invest in more products, services and a broad array of founders from diverse backgrounds who are at the cutting edge of creating a cleaner, better planet."
Scroll through the slideshow above to learn more about the Bay Area's biggest startup fails this year.
