In covering the D.C. innovation economy comes the inevitable: funding news. Trust us, there's a lot of it floating around the D.C. metro area. Here's a roundup of all of the major funding news from the region in September:
ChurnZero
Arlington, Va. startup ChurnZero has closed a $2.5 million round of funding, according to reports on Sept. 5. The company helps other companies monitor and measure a customer's use of their software, allowing them to spot when a customer has stopped using their products and deploying a set of tools to try and bring those customers back into the fold. Local venture capital firm Grotech Ventures led the round, and the new funding will allow ChurnZero to hire seven new employees in the next few months.
DivvyCloud
Arlington, Va.-based DivvyCloud closed a $6 million round on Sept. 7. DivvyCloud creates tech that automates and manages cloud infrastructure. RTP Ventures, in New York City, led the round. Per its Crunchbase profile, DivvyCloud has now raised a total of $8.8 million from venture funding rounds.
RightEye
Bethesda, Md.-based RightEye brought in an investment from VSP Global for their eye-tracking technology on Sept. 11. The tech helps everyone from athletes dealing with concussions to helping patients expand their peripheral vision.
Vemo Education
Oakton, Va.-based Vemo Education raised a $7.4 million seed round, according to a press release on Sept. 11. Both University Ventures and NextGen Venture Partners led the round, with participation from Route 66 Ventures, Third Kind Venture Capital, Haystack Partners and Task Force X Capital. Vemo Education plans to use the funds to improve their tech platform, hire more team members and expand their market development efforts. Vemo Education works with higher education institutions to develop, launch and implement income share agreements, an alternative to student loans.
Cybrary
Greenbelt, Md.-based Cybrary, an open-source cybersecurity and IT learning platform, has raised a $3.5 million Series A round, according to a press release on Sept. 12. Arthur Ventures led the round, with participation from Tenable Network Security founder Ron Gula and other existing investors. Cybrary provides free training resources for anyone looking to learn more about the cyber and IT field. The new funding will be used to refine those offerings and create the new courses their customers want.
Snag-a-Slip
Annapolis, Md. startup Snag-A-Slip raised $4.8M, The Baltimore Business Journal reported on Sept. 13. The startup works with 500 marinas, from Canada to the Caribbean, to let boaters see which slips are available for docking. The funds will be used to ramp up marketing and new product development efforts.
Veda Data Solutions
Veda Data Solutions CEO and founder Meghan Buck is now a part of an elite group in D.C. of women founders who have raised $1 million. On Sept. 1, Veda closed a $1 million round led by New Dominion Angels. Add that to the $200,000 the company received in 2016 from undisclosed investors, and the $20,000 they received Sept. 14 from The Vinetta Project's grand prize competition.
Federated Wireless
Arlington, Va.-based wireless infrastructure provider Federated Wireless raised $42 million in Series B funding on Sept. 15. Investors include Charter Communications, American Tower Corp. and ARRIS International.
AppGuard
Chantilly, Va.-based AppGuard raised more than $30 million in Series B funding on Sept. 15. AppGuard provides intelligent prevention endpoint protection software, and JTB Corporation led the round.
Dharma
Washington, D.C.-based software-as-a-service data platform Dharma raised an undisclosed Series A round, according to a press release on Sept. 18. The Rise Fund led the round. You might recognize The Rise Fund as the lead investor in EverFi's historic $190 million round at the end of April. Investors in the fund include Bono and LinkedIn's Reid Hoffman. Former U.S. Secretary of Education Arne Duncan is a strategic advisor for the fund.
NavHealth
Arlington, Va.-based NavHealth raised $720,000 of a potential $1.3 million round, according to a recent SEC filing on Sept. 18. The health tech startup was co-founded by Aneesh Chopra, the former chief technology officer of the United States.
2U
Edtech company 2U is raking in the cash. The publicly traded company just raised under $189 million, according to recent SEC filings around Sept. 18. 2U offered 3.65M shares for $49 per share, although the company is currently trading at $53 per share. The latest sale aims to replenish 2U's cash as it continues to spend its capital up front to land new clients, new acquisitions and market grad programs. For example, remember 2U's $123M deal to acquire GetSmarter in July?
CarLotz
Richmond, Va.-based CarLotz raised $30 million in funding from TRP Capital Partners, according to reports on Sept. 20. CarLotz describes itself as a physical used car marketplace that allows buyers and sellers to interact anonymously. According to its Crunchbase profile, the company has raised a total of $37 million in venture funding to date.
Remine
Falls Church, Va.-based Remine has raised $800,000 in equity, according to a recent SEC filing on Sept. 22. Remine is a data analytics company focused on developing products for real estate and mortgage professionals.
Brazen Technologies
According to a recent SEC filing on Sept. 25, Arlington, Va.-based Brazen Technologies is halfway through an expected $1.25 million round, reaching $625,000 recently. Before this, it looks like Brazen, which organizes online, chat-based events for businesses, raised a $4.7 million Series B round in June 2015 led by Philadelphia-based Osage Venture Partners.
