Snapshots

Funding in the Mid-Peninsula & Silicon Valley shows growth in near future

Investors show interests in tech companies as funding activity continues.

June 08, 2020
Top 20 companies by funding amount since March 4th
 
  • In the uncertain times of COVID-19, demands have grown worldwide for services and products offering online education, entertainment, healthcare, fitness and wellness, along with growing demand for cloud services, computer software and hardware.

  • According to Crunchbase, funding for autonomous vehicle companies has remained strong even with the emergence of COVID-19. Waymo’s last funding in May totaled $750M.

  • As healthcare demands increase, funding in biotech and health care companies has risen in the past 3 months. The biotech industry alone has received $1.7B in funding. Notable companies, such as Lyell Immunopharma received $492M, and the diagnostic company Grail, received $390M. Because people now desire less physical contact, demand for remote healthcare, like checkups, are skyrocketing. Mindstrong, an app-based company that remotely connects patients with therapists and psychiatrists, received $100M in funding.

  • Tech industries continue to grow as VC companies focus on investing in quality technology. Some cloud service companies received substantial funding lately, with Confluent receiving $250M and Accellion $120M. Computer hardware company PsiQuantum received funding of $215M, along with computer software company DispatchTrack with $144M.