Crossbeam's $12 million financing tops recent funding news in Philadelphia

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By Hoodline - Published on August 27, 2019.

Philadelphia-based SaaS company Crossbeam has secured $12 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Aug. 21 and led by FirstMark.

According to its Crunchbase profile, "Crossbeam is a collaborative data platform that helps companies build more valuable partnerships. It acts as an escrow service for data, allowing companies to find overlapping customers and prospects with their partners, while keeping the rest of their data private and secure. The company was founded in 2018 and is based in Philadelphia, Pennsylvania."

The one-year-old startup also raised a $3.3 million seed round in 2018.

The round brings total funding raised by Philadelphia companies in data and analytics over the past month to $20 million, an increase of $14 million from the month before. The local data and analytics industry has produced 16 funding rounds over the past year, raking in a total of $44 million in venture funding.

In other local funding news, advertising company Sidecar announced a $7.5 million Series C funding round on July 25, financed by GoPhillyFund.

According to Crunchbase, "Sidecar is an e-commerce marketing company that builds the advanced technology retailer's need to optimize cross-channel, online shopping campaigns. With a team of data science and e-commerce experts, our state-of-the-art machine learning engine, and a massive volume of data, Sidecar is the magic behind retail's most efficient and powerful online shopping campaigns."

Founded in 2007, the company has raised six previous rounds, including an $11 million Series C round in 2017.

Meanwhile, medical company Carisma Therapeutics raised $6 million in Series A funding, announced on Aug. 8.

From the company's Crunchbase profile, "Carisma Therapeutics is pioneering the development of CAR macrophages, a disruptive approach to immunotherapy. Our technology leverages advances in macrophage biology, chimeric antigen receptor engineering and adoptive cellular therapy for the treatment of human disease."

Carisma Therapeutics last raised $53 million in Series A 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.

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