March 2024 Tech Investments Highlights

Global venture capital for IT startups is currently at a low, with investments hitting a nearly five-year trough at $75.9 billion in the first quarter, as per PitchBook data reported by Reuters. Despite this, March 2024 saw some startups defying the odds with substantial funding successes.

Leading the charge was cybersecurity asset management firm Axonius with a colossal $200 million in Series E funds. Other cybersecurity ventures like Claroty, Coro Cybersecurity, and Nozomi Networks also secured $100 million each.

The machine-generated data-management platform Observe took second place, obtaining $115 million in its Series B. Big data specialists Ocient, Unstructured, and Dymium were notable for their fundraising feats.

In summary, ten tech companies managed to find significant financial backing in March 2024, signaling that standout ideas in cybersecurity and big data, especially those branded with artificial intelligence, continue to attract investor interest amid an overall investment slowdown

Source: CRN