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, and we cover it everyday in our daily newsletter, The Beat. Here’s a roundup of all of the major funding news from the region in February:
McLean, Va.-based startup GoodSeeker closed a $1.3 million seed round on Feb. 6. The new funding is led by Capterra founder Michael Ortner, and it will go towards expanding the product marketing and customer success teams. GoodSeeker is a SaaS-based platform that helps companies collect employee stories for their branding efforts.
Owings Mills, Md.-based BurnAlong closed a $1 million round on Feb. 9. Founded in 2016, the fitness tech startup’s investors included Brown Advisory, Baltimore Angels, Machem Capital and Johns Hopkins University. BurnAlong provides virtual fitness courses with local trainers, and the new funding will be used for both hiring and expansion.
McLean, Va.-based HomeCare.com raised $11 million in funding on Feb. 12. HomeCare.com is an online marketplace where consumers and healthcare providers go to hire experienced caregivers. The new funding will be used to expand the company geographically and add new products. Investors include 3TS Capital Partners, Blue Heron Capital, Maryland Venture Fund and Private Access Network.
Rockville, Md.-based Homesnap closed a $14 million Series B round, according to a press release on Feb. 13. The round was led by Updata Partners and Moderne Ventures, and a few individual investors participated. Dubbed the “mobile productivity app for real estate agents,” Homesnap has a platform that hopes to make it easier for all parties to sell and buy homes. The new round brings Homesnap’s total funding to $32 million, and the startup includes Revolution as one of its investors.
Hatch Apps, the D.C.-based technology company founded by Amelia Friedman and Param Jaggi, raised a $1.3 million round in angel funding, according to a press release on Feb. 13. The Y Combinator Fellowship company is creating a product to help automate the development of new apps. These new funds will be used to grow the company’s engineering team and pursue new growth initiatives.
D.C.-based edtech company Quad Learning raised nearly $4.8 million of a potential $5.24 million round, according to recent SEC filings. Before this, the company had already raised more than $41 million since its founding in 2012. While it’s not clear who is participating in this round yet, past investors have included Philadelphia’s MentorTechVentures, Comcast Ventures, SWaN & Legend Venture Partners and New Enterprise Associates.
Veda Data Solutions
Announced on Feb. 20, D.C. health tech startup Veda Data Solutions closed a second $1 million angel round to help expand their engineering and sales teams in preparation for a national expansion. Add that to the $1.2 million of funding they had already raised between Vinetta and another angel round in September, and Veda Data has now raised more than $2 million. The new round is expected to be used as a “bridge” round to Veda’s Series A round.
- Arlington, Va.-based ByteCubed raised an undisclosed amount of funding from Enlightenment Capital, according to a press release. Founded in 2010, ByteCubed is a technology provider and consultancy for commercial and federal government customers, including the Department of Defense and the Department of Homeland Security. The new investment will go towards pursuing ByteCubed’s growth strategy. Enlightenment Capital is a local firm that focuses on aerospace, defense and government.
Charlottesville, Va.-based cybersecurity startup CounterFlow AI has raised $2.7 million in seed funding from Osage University Partners, the Charlottesville Angel Network, and individual investors, according to a press release. Founded in 2017, the startup uses streaming machine learning technology to find and remove network threats.