Tech Companies

Tech Startup Funding Report - May 2022

Updated on November 20, 2023
Connor Leech

Written by

Connor Leech

This is a report of all the U.S. companies that raised Venture Capital, Private Equity and Debt Capital money in May 2022. As of this writing we've found that 49 tech companies raised nearly $2.9 billion from financiers last month. This includes mostly startups and one public company -- WeWork.

Tech Startup Funding Report - May 2022

May 2022 is in the books. Last month Y Combinator and other top tier VC firms sent letters to founders to plan for a worse, that a recession was coming. Russia's war of agression against Ukraine reached its 100th day. Gas priced reached historic highs. Technologists sent a letter of concern to Congress about how crypto is going to sink our economy. There was a horrible massacre in Texas that could have been prevented by sane gun control laws in the United States. Elon Musk dissed remote work because Tesla isn't doing well and he wants people to quit so he doesn't have to pay severance to them. And, by our analysis 49 U.S. and Candian based companies raised $2,909,424,885 in investment capital from financiers.

49 tech companies raised nearly $2.9 billion from financiers in May 2022.

WeWork gets a big loan 💰

WeWork tops the list with a $350 million Post IPO Debt financing round. WeWork is a public company so theoretically anyone in America can buy or sell shares of the company and profit from the company's success. We live in a time of financial engineering, when stock prices rise without growth and inequality is at all time highs, so this might not be as clean as it sounds. Anyway, WeWork is the one public company we have on this list of finacing rounds in May 2022. This is debt financing, so it's really like a big loan they have to pay back. This is in contrast to equity financing where part of the company is sold in exchange for money. If you haven't seen WeCrashed on Apple TV definitely check it out -- I've watched it twice.

Funding is way down

Last month we reported that startups raised over $6 billion in April 2022. In March 2022 there seemed to be some craziness in the public markets with over $22 billion raised, some of that coming from a $3 billion Post IPO Equity round for Twitter. There may be some lag as we find out about financing rounds down the road but $3 billion raised last month does seem a bit low. We'll have to watch CB Insights and Crunchbase for their reporting to confirm..

Without further ado here's the full list of startups (plus WeWork) we've found that raised money last month in May 2022.

Startups that Raised Money in May 2022

List of companies that raised investment capital last month.

Company Name HQ Location Company Description Founded Year Round Name Amount Raised
WeWork New York, NY Space That Works for You. From desks to offices and entire headquarters, we create environments for productivity, innovation, and connection. 2010 Post Ipo Debt $350,000,000
Deserve Palo Alto, CA Deserve, Inc. provides consumer financial services. The Company offers credit cards and other financial products. 2013 Debt Financing $250,000,000
Rippling San Francisco, CA Rippling is the first way for businesses to manage their HR & IT - from payroll and benefits, to employee devices and apps - all in one, modern system. 2016 Series D $250,000,000
Abnormal Security San Francisco, CA The Abnormal Security platform protects enterprises from targeted email attacks. 2018 Series C $210,000,000
Chainalysis New York, NY About Chainalysis provides blockchain data and analysis to government agencies, banks, and businesses around the world. 2014 Series F $170,000,000
MOMA Therapeutics Cambridge, MA MOMA Therapeutics operates as a biotechnology company. MOMA Therapeutics discover the next generation of precision medicines by targeting the molecular machines that underlie human disease. 2020 Series B $150,000,000
Tailscale Toronto, Canada Tailscale want to help everyone create their own secure networks built around their social connections. 2019 Series B $128,000,000
Castle Creek Biosciences Exton, PA Castle Creek Biosciences is focused on developing and commercializing novel, personalized gene therapies for rare skin and connective tissue disorders with high unmet need. 2020 Series Unknown $112,782,892
Material Security Redwood City, CA Material Security is an email security company that develops data-driven security software to protect an organization's users and data. 2017 Series C $100,000,000
Fictiv San Francisco, CA Fictiv Inc. provides software solutions. The Company offers a platform that provides 3D printing, 2D drawing, CNC machining, casting, and injection molding services. 2013 Series E $100,000,000
Hugging Face New York, NY Hugging Face, Inc. provides software solutions. The Company offers social artificial intelligence platform which learns to chit-chat, talks sassy, and trades selfies. 2016 Series C $100,000,000
Mothership Austin, TX We’re building the future of freight to deliver what the world needs faster 2017 Series Unknown $76,000,000
Vivun Oakland, CA Beat the competition to product-market fit, revive dormant sales opportunities, nail your revenue forecast, and unlock vital sales intelligence to close deals faster 2018 Series C $75,000,000
Hello Heart Menlo Park, CA Hello Heart Inc. provides software solutions. The Company offers clinically-based mobile solution for high blood pressure and heart risk. 2013 Series D $70,000,000
Observe San Mateo, CA Observe provides performance management tools based on a versatile observability platform. It focuses on a new segment of the market called Observability which promises to supplant the $20B+ market for log analytics, infrastructure monitoring, and application performance management. 2017 Series A $70,000,000
Brightseed San Francisco, CA Brightseed is a biotechnology company that features artificial intelligence that reveals powerful compounds hidden in nature. The company enables a healthier future by illuminating and activating the connections between people and plants. 2017 Series B $68,000,000
Gusto San Francisco, CA It’s time to tame the chaos of payroll, benefits, and HR. 2011 Series E $55,000,000
LinearB Los Angeles, CA Linear B is a workforce analytics platform for software development organizations that allows for improved productivity based on objective data driven insights. We are revolutionizing the way software development organizations measure and continuously improve their productivity. 2018 Series B $50,000,000
Deel San Francisco, CA Deel’s mission is to create a world where talents are not limited to a location. By making the most complicated business tasks simple and personal, Deel is reimagining payouts for businesses working with global remote teams. 2018 Series Unknown $50,000,000
Dusty Robotics Mountain View, CA Dusty Robotics develops robot-powered tools for the construction workforce. 2015 Series B $45,000,000
Prisma San Francisco, CA Graphcool, Inc., doing business as Prisma, operates as a platform as a service company. The Company offers a platform which combines and connects multiple specialized databases. Prisma serves clients worldwide. 2016 Series B $40,000,000
LottieFiles San Francisco, CA LottieFiles is the largest community of animators, designers and engineers in the world. It’s a platform for testing, collaborating and discovering animations. 2018 Series B $37,000,000
dotData San Mateo, CA The First & Only End-to-End Data Science Automation Platform. 2018 Series B $31,600,000
AcuityMD Boston, MA AcuityMD provides a platform for commercializing and improving medical devices with data. The platform brings clarity to the products used to treat patients, helping medical device companies expand access in their markets. 2019 Series A $31,000,000
ShiftLeft Inc Santa Clara, CA Shiftleft, Inc. operates as a software development company. The Company provides cloud security solution specific to each version of each application. Shiftleft offers an application that detects threats without impacting continuous deliver, as well as prevents data leaks. 2016 Series C $29,000,000
AutoRABIT San Ramon, CA AutoRABIT offers a suite of products used by DevOps organizations to automate their CI/CD process for cloud-based development platforms. 2015 Series B $26,000,000
Legacy Cambridge, MA Legacy BV is a e-commerce company focussed on sporting goods. Our latest developed project is www.sneakerbaas.nl & www.sneakerboss.com. At the moment we are the leading online store for exclusive sneakers in the Benelux. Please contact us if we can help you with your business, or you can help us with our activities. 2010 Series B $25,000,000
Sleuth San Francisco, CA Sleuth is a deployment tracker built to solve the confusion that comes when companies have adopted continuous delivery. 2019 Series A $22,000,000
LucidLink San Francisco, CA Lucid provides a cloud-backed distributed file service allowing instant access to an unlimited, shared, and secure file space in the cloud. LucidLink provides the ability to mount an object store in the cloud and use it as local storage. 2016 Series B $20,000,000
Screenplay New York, NY ScreenPlay makes it easy to ensure your programming is seen by whom you want, when you want, and where you want. Set exclusives, assign release dates, and view reports all through a simple web-based interface. 2020 Series A $20,000,000
Sustain.Life New York, NY We’re on a mission to empower organizations across the world to actualize the wide-ranging benefits of sustainability. How? By building a platform that makes it simple for organizations to reduce and manage their environmental impact. 2021 Seed $16,000,000
Phylum Evergreen, CO Phylum is an early-stage startup developing DevSecOps tooling to help developers identify and mitigate risks stemming from the open-source ecosystem. 2020 Series A $15,000,000
Federated Wireless Arlington, VA Federated Wireless, Inc. operates as a software development company. The Company develops wireless broadband network management platforms that enable shared use of wireless spectrum for mobile broadband. 2012 Series D $14,000,000
Branch New York, NY Your space for work and play. Bring back serendipity to your remote team with spatial conversations. 2020 Seed $12,500,000
Leapfin San Francisco, CA Leapfin is the leading revenue close automation solution for high growth businesses. Designed and built for scale from the ground up, Leapfin automates complex and manual accounting processes to ensure leaders always have instant access to accurate and actionable financials. 2015 Series Unknown $12,166,993
Synergies Intelligent Systems. Cambridge, MA Synergies is a technology company. It develops JarviX, an augmented analytics and business-intelligence platform that helps accelerate the decision-making processes through search-driven analytics and AI-generated insights across industries. 2016 Series A $12,000,000
OtterTune Pittsburgh, PA OtterTune provides automated performance tuning solutions for data-intensive applications. It learns how the database behaves and continually tunes runtime knobs to improve the system’s performance. The company was founded in 2020 and is headquartered in Pittsburgh, Pennsylvania. 2020 Series A $12,000,000
Flyp San Francisco, CA Flyp is a mobile app that allows users to cash in on their used stuff by partnering with professional resellers. 2019 Series A $10,000,000
Mahmee Los Angeles, CA They are a growing community of maternal and child healthcare providers and healthcare technology professionals united by their shared goals to enhance the experience of new motherhood with ongoing professional support and to help infants grow, gain, and thrive throughout the first year of life. 2014 Series A $9,200,000
FutureProof Technologies San Diego, CA FutureProof Technologies is a financial analytics software company specializing in physical climate risks. 2019 Series Unknown $6,500,000
Ownwell Austin, TX Ownwell is an online solution that helps people reduce the cost of owning real estate. 2020 Seed $5,750,000
Poolit Miami, FL Poolit allows users to invest in private equity, venture capital, and hedge funds with no minimum. The company was founded by Dakotah Rice in 2021 and is headquartered in Boston, Massachusetts. 2021 Seed $5,255,000
GitStart Walnut, CA GitStart automatically manages hundreds of remote developers and partners with our client’s engineering teams, accelerating their software development. GitStart is the secret sauce for companies to ramp up their software development capacity, on-demand. 2019 Seed $5,000,000
Anja Health Los Angeles, CA Anja Health provides wellness and fitness services. 2021 Seed $4,500,000
Slai Cambridge, MA Deploy machine learning models in minutes using infrastructure managed for you. 2021 Seed $3,500,000
Pigeon Loans San Diego, CA Pigeon Loans is a peer-to-peer lending platform that facilitates loans between family, friends, and loved ones. The platform provides their users the ability to generate legal contracts, make online payments, store loan documentation, enable automatic bank withdrawals, and make international transactions, all in an easy-to-use interface. 2020 Seed $2,500,000
Yotta Energy Austin, TX Yotta is the leading-edge solar storage solution. We simplify the solar storage process through decentralized, panel-level storage and optimize your energy efficiency with intelligent software. 2017 Grant $1,970,000
Terradepth Austin, TX Building the first holistic virtual picture of the ocean with accurate, high resolution, comprehensive data, collected by our fleet of autonomous submersibles. 2018 Grant $100,000
Chooch AI San Mateo, CA With high accuracy and fast response time, Chooch AI is the leader both in computer vision training and deployment for true Visual AI on the edge and in the cloud. 2015 Grant $100,000

Explore Startup Financing Rounds

To see our full dataset you can create a free account on Employbl. Sign in and head to the Funding Rounds dashboard to see the latest startup financing rounds that have been announced on the public internet. You can filter by round type, for instance Series A, Seed, Series B etc. If you found this post helpful let me know on LinkedIn or Twitter.

You can create a free Employbl account here.


Connor Leech

Connor Leech

Founder at Employbl

Connor is the founder of Employbl. He writes the codes and even some articles like this one. He lives in San Francisco, CA.


Discover job listings, tech companies, startups, investors, job listings, funding rounds, industries, and tech stacks.

Get EmployblBook a demo call

AND/OR


Get periodic emails about startups and the tech job market

Employbl Newsletter is about helping you find jobs and understand the tech job market. Read previous issues.