Bay Area/ San Francisco/ Retail & Industry
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Published on May 17, 2019
San Francisco companies are pulling in venture capitalPhoto: Zipline International Inc./Facebook

San Francisco-based blockchain company Figure has secured $1 billion in debt financing, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced May 10.

According to its Crunchbase profile, "Figure is a financial technology company with the mission of leveraging blockchain, AI and advanced analytics to unlock new access points for consumer credit products that can transform the financial lives of our customers. They provide home equity release solutions, including home equity lines of credit, home improvement loans and home buy-lease back offerings for retirement. Concurrently, they are building a blockchain protocol for the origination, custody, trading and securitization of whole loans and other assets."

The one-year-old startup has raised two previous funding rounds, including a $65 million Series B round earlier this year.

The round brings total funding raised by San Francisco companies in artificial intelligence over the past month to $1.1 billion, an increase of $1 billion from the month before. The local artificial intelligence industry has produced 210 funding rounds over the past year, raking in a total of $2.8 billion in venture funding.

In other local funding news, risk management company Coalition announced a $40 million Series B funding round on May 9, led by Ribbit Capital.

According to Crunchbase, "Coalition protects the value of a business with Coalition's intelligence, risk management and insurance offerings. Coalition is the best way for a company to manage cyber risk. Coalition provides free cybersecurity tools and up to $10M of insurance coverage to forward-thinking companies around the world. Coalition’s app provides automated alerts, threat intelligence, expert guidance and recommendations, benchmarking and ongoing monitoring tools to help businesses remain resilient in the face of cyber risk."

The company also raised a $10 million Series A round in 2018.

Meanwhile, advice and professional networking company PeopleGrove raised $4.7 million in Series A funding, announced on May 1. The round's investors were led by Reach Capital.

From the company's Crunchbase profile, "At PeopleGrove, we believe the way students experience and value their education has changed. They are seeking an academic experience that addresses:  Job outcomes, not just a degree; Social and digital, not isolated and static; Experiential, not theoretical. In fact, many are questioning the value of a college education. Only half of US alumni strongly agree their education was worth the cost."

PeopleGrove last raised $1.8 million in seed funding in 2017.

Also of note, online portals and advertising platforms company Motimatic raised $4 million in Series A funding, announced on April 24 and led by City Light Capital.

From Crunchbase, "The Motimatic platform blends the latest advances in online advertising technology and motivation science to deliver highly targeted messages that drive economically beneficial behavior. The messages support specific users in achieving their goals, while creating economic value for Motimatic client organizations in a wide variety of markets, from healthcare to financial services, insurance and Education."

The company previously raised $3.4 million in Series A funding in 2017.

Rounding out the city's recent top local funding events, drones company Zipline International raised $3 million in grant funding, announced on April 25 and financed by The UPS Foundation.

From Crunchbase, "Zipline is a California-based automated logistics company that designs, manufactures, and operates drones to deliver vital medical products. Zipline's mission is to provide every human on Earth with instant access to vital medical supplies. In 2014, Zipline was created to deliver medicine to those who need it most."

The company previously raised Series C funding in 2018.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.