More Funding for NJ Tech, HealthTech, and Cleantech Startups -March 2021
A few months ago, the New Jersey Economic Development Authority (NJEDA) revealed a new web page that shows the funding that has been received by startups at all stages of growth, as well as the mergers and acquisitions that have been happening all over the state.
There is more investment listed on this website than most of us in the New Jersey tech community are aware of, and it’s good to see how many startups in the Garden State are receiving backing from angels and venture funds.
NJTechWeekly.com has decided to publish the angel and VC investment information in tech, healthtech, cleantech and other tech-related companies from the previous month, once a month, starting with March’s group. We hope you will find it as fascinating as we have.
This is a useful place for entrepreneurs to see who is funding companies like theirs and the scope of that funding. For those interested in economic development, remember that these are the companies that will likely be hiring in New Jersey.
All the information, including the listings on biotech and pharma companies, is available on the Angel and VC Investments website, here. As the NJEDA says, the list isn’t meant to be exhaustive.
The listings of the deals are compiled from outside sources, including Pitchbook and Crunchbase, as well as other sources that are available to the public. The NJEDA has marked with an asterisk the companies that it has helped. NJTechWeekly.com will add links to the companies’ websites, if possible, when no links are provided on the NJEDA site.
The Deals
Company: Attentive
Location: Hoboken
Sector: Information Technology | Attentive develops a personalized mobile messaging platform designed to change the way businesses and consumers interact. The company’s platform uses behavioral data and helps brands to automatically send personalized mobile messages across the entire customer lifecycle — from product recommendations and limited-time sales to payments and real-time customer service — enabling e-commerce and retail businesses to connect with mobile shoppers in a new way through messaging.
Deal synopsis: The company raised $470 million of Series E venture funding on March 24.
Investor(s): IVP, Tiger Global Management, Base10 Partners, Gutbrain Ventures, D1 Capital Partners, Coatue Management
Pitchbook Profile page: https://pitchbook.com/profiles/company/225695-62#overview
News Release: N/A
Company: BlockFi
Location: Jersey City
Sector: Information Technology | BlockFi develops wealth management platforms designed to seamlessly manage crypto assets and maximize earning potential. The company’s platform provides wealth management products such as crypto, interest-earning accounts, trading and other similar products, enabling clients to ease out of bitcoin trading and secure digital payments in the cloud, while mitigating the risks associated with financial lending.
Deal synopsis: The company raised $350 million of Series D venture funding on March 11.
Investor(s): Hudson River Trading, Gaingels Syndicate, Third Prime, Paradigm (Crypto Fund), Bracket Capital, Breyer Capital, Jump Capital, Kenetic Capital, PJC, Valar Ventures, Castle Island Ventures, Raptor Group, Bain Capital Ventures, Pomp Investments, Tiger Global Management, The Venture Collective, CMS Holdings LLC, Susquehanna Government Products, Morgan Creek Digital Assets, Akuna Capital, Pacific Century Group, ParaFi Capital
Pitchbook Profile page: https://pitchbook.com/profiles/company/224072-83
News Release: N/A
Company: Health Recovery Solutions
Location: Hoboken
Sector: Healthcare | Health Recovery Solutions develops telehealth and remote-monitoring platforms and tools built to optimize clinician workflow and improve patient satisfaction. The company’s offerings include disease-specific interactive 4G tablets customized with patients’ medications, reminders, educational videos and diet information, and integrated with oximeters, BP monitors, thermometers and scales, enabling the health providers and patients to reduce readmission and improve clinical outcomes.
Deal synopsis: The company raised $25.37 million of Series C venture funding on March 9.
Investor(s): LLR Partners, Edison Partners
Pitchbook Profile page: https://pitchbook.com/profiles/company/56298-70
News Release: N/A
Company: Pathlock
Location: Flemington
Sector: Information Technology | Pathlock develops risk and regulatory compliance software designed to offer integrated risk management. The company’s software facilitates integrated or stand-alone analysis of a company’s compatible and incompatible enterprise services, enabling organizations to reduce access control complexity and have enhanced transaction-control monitoring across enterprise applications and business processes.
Deal synopsis: The company raised $20 million of venture funding in a deal on March 10.
Investor(s): Led by Vertica Capital Partners, included additional undisclosed investors.
Pitchbook Profile page: https://pitchbook.com/profiles/company/52626-70
News Release: N/A
Company: Chronic Care Management
Location: Moorestown
Sector: Healthcare | Chronic Care Management (Cosán Group), develops medical platforms designed to operationalize care-management support services. The company’s platform helps to navigate the complexities of care management, while providing a new path for reimbursement through free-for-service or value-based programs, enabling healthcare providers to offer specialized care management to patients suffering from chronic diseases.
Deal synopsis: The company raised $7.70 million of venture funding on March 5.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/231994-81
News Release: N/A
Company: CerebrumX
Location: Princeton
Sector: Information Technology | CerebrumX develops augmented deep-learning platforms designed to democratize the connected car data ecosystem. The company’s software offers augmented deep learning, real-time data handling, reporting and monitoring, data processing, consent management and other related services, enabling media, insurance, retail, smart city, maintenance and the fleet-management industries to monetize connected car data.
Deal synopsis: The company raised $5.5 million of Series A venture funding in a deal on March 15.
Investor(s): Led by LG Technology Ventures. Cerence also participated.
Pitchbook Profile page: https://pitchbook.com/profiles/company/454452-85#overview
News Release: N/A
Company: Own The Room
Location: Montclair
Sector: Consumer Products and Services (B2C) | Own The Room provides development training services intended to empower everyone to make an impact and reach their highest potential. The company’s services include interactive and innovative learning programs that empower leaders at all levels, from seasoned executives to junior employees, enabling individuals to get real-life knowledge and skills.
Deal synopsis: The company raised $3.96 million of angel funding on March 22.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/331111-72
News Release: N/A
Company: CoreWeave
Location: Springfield
Sector: Information Technology | CoreWeave develops modern cloud infrastructure intended to provide computing resources for blockchain and projects. The company’s system accelerates a team’s workflow with a cloud-based production pipeline, and it provides access to computer resources that match the complexity of the client’s models, thereby enabling clients to scale efficiently and adapt to rapidly evolving compute requirements.
Deal synopsis: The company raised $3.79 million of venture funding on March 1.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/327267-64
News Release: N/A
Company: Manetu
Location: Ridgewood
Sector: Information Technology | Manetu develops consumer-privacy-management software platforms designed to handle sensitive data. The company’s platform uses cryptographic, biometric and machine-learning mechanisms to establish and authenticate customers’ identities, enabling users to choose what to share and for how long, so there is minimal friction when they need to use these vital functions.
Deal synopsis: The company raised $2.37 million of venture funding on March 4.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/407217-43#overview
News Release: N/A
Company: 1v1Me
Location: Brick
Sector: Consumer Products and Services (B2C) | 1V1Me provides gaming services. The company offers gamers who will play anyone from the community, and gives rewards in the form of cash and esports pro training, thereby enabling users to gamble on their ability to crush an opponent in player-vs-player games.
Deal synopsis: The company raised $2 million of seed funding from on March 15.
Investor(s): Gelt Venture Capital, OnDeck, SterlingVC, Crossbeam Ventures Partners, Mana Ventures, Village Global, Shrug Capital, LightShed Ventures, Bettor Capital, Justin Waldron, Albert Cheng, Anthony Pompliano, Ian Borthwick, Trevor McFedries, Stephen Sikes, Ali Hamed, Cody Hock and Cole Hock
Pitchbook Profile page: https://pitchbook.com/profiles/company/454570-93
News Release: N/A
Company: Q.ai
Location: Jersey City
Sector: Business Products and Services (B2B) | Q.ai provides quantitative analytics services intended to offer quantitative tools and strategies. The company’s services include integrated research that is simplified into a transparent, easy-to-use investor portal, enabling individual investors and investment firms to enhance returns and lower their risk.
Deal synopsis: The company raised $1 million of angel funding on March 24.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/222285-25
News Release: N/A
Company: InquisitHealth
Location: River Edge
Sector: Healthcare | InquisitHealth provides peer-to-peer mentoring services intended to provide guidance through structured programs and improve patient outcomes. The company offers personalized goal-based mentoring programs, staffed by peer mentors with the tools to mentor patients one on one. It also integrates technology with existing care systems, enabling peer mentors to educate patients in how to overcome chronic diseases and live healthier lives.
Deal synopsis: The company raised $985,000 of venture funding on March 22.
Investor(s): Undisclosed
Pitchbook Profile page: https://pitchbook.com/profiles/company/54874-90
News Release: N/A
*InquisitHealth has previously benefited from the NJEDA’s NJ CoVest Fund.
