Money Moves: These 4 DC-area tech companies secured millions to kick off Q4 - Technical.ly DC

Growth

Oct. 29, 2020 2:26 pm

Money Moves: These 4 DC-area tech companies secured millions to kick off Q4

Raises for Strider Technologies, Sirnaomics, StreetShares and Glimpse range from $1.5 million up to $105 million.
D.C.-based Glimpse cofounders during Y Combinator summer 2020.

D.C.-based Glimpse cofounders during Y Combinator summer 2020.

(Photo via Twitter)

Money Moves is a column where we chart the funding raises of tech companies across the region. Have a tip? Email us at dc@technical.ly.


Strider Technologies, a D.C.-based developer of software to help companies protect their intellectual property against cyber attacks, closed a $10 million Series A led by Koch Disruptive Technologies.

The year-old startup with operations in D.C. and Utah will use the funding for product research and development efforts and to launch new features for its flagship tech, the Strider Intelligence Platform. Strider is also working on rolling out a new data-driven product for organizations to identify high-risk activity within their systems.

Ottawa-based One9 Ventures participated in this funding round along with existing investor DataTribe. With this fresh funding, Michael Palmer, president of i360, a wholly owned subsidiary of Koch Industries, joins Strider’s board of directors.

“Strider is a first-of-its-kind technology and capability that finally gives the commercial world a powerful tool to combat the massive problem of IP theft and economic espionage,” said DataTribe cofounder Mike Janke in a press release.

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Gaithersburg, Maryland-based biopharma company Sirnaomics closed a $105 million Series D financing round co-led by existing investor Rotating Boulder Fund and new investors Walvax Biotechnology and Sunshine Riverhead Capital.

The funding will go toward further development of the company’s RNAi therapeutics to treat diverse human disorders including cancer, viral infections and beyond. Sirnaomics has raised $162 million to date from six funding rounds. This Series D, which was oversubsidized, is the first megadeal — a funding raise valued at $100 million or more — the D.C. region has seen in Q4. (Read about how the region fared with VC funding in Q3.)

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This funding raise comes ahead of Sirnaomics’ planned initial public offering in the near future.

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Reston, Virginia-based StreetShares, a six-year-old fintech company that says it helps financial institutions connect “high-quality” loans to small businesses, raised $10 million from Motley Fool Ventures, Ally Ventures and individual angel investors.

The funding will go toward expanding its small business banking technology suite, including products for a “Post-PPP Market,” referring to the federal Paycheck Protection Program. According to the company, demand for this suite increased at the start of the COVID-19 pandemic, as its software allowed local lenders to make PPP loans digitally.

“We’re seeing exciting digital adoption by banks and credit unions in response to COVID-19,” said StreetShares CEO Mark L. Rockefeller in a statement. “But equally important to us is the practical impact our technology is having in helping their customers, especially underserved business owners, get the funding they need to succeed.”

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D.C.-based Glimpse, a B2B marketplace that allows brands to reach new customers by placing products in short-term real estate rentals, closed a $1.5 million seed round led by Origin Ventures. The startup plans to use the fresh funding to grow its team and expand its marketplace to more brands and hosts.

Glimpse cofounders, Akash Raju, Kushal Negi and Anuj Mehta participated in Y Combinator’s summer 2020 program and their company was even named a favorite startup from the bunch by TechCrunch. The team started building their venture while studying at Purdue University.

Using its platform, rental hosts can gain access to free or discounted products to furnish their properties for a short period of time.

“Malls and showrooming are antiquated, imperfect solutions to experiential retail, and the short-term rental ecosystem continues to boom, demonstrating resilience through the COVID-19 crisis, said Prashant Shukla of Origin Ventures in a statement. “Glimpse is perfectly positioned to capitalize on both of these trends, and the founders’ vision of a deeper interaction between the product and consumer in a natural way is a win-win-win for guests, brands, and hosts.”

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