Is 2023 edtech funding’s gap year?

Plus, AI tops private cloud company ranking August 9, 2023 Hi, {NAME}. Edtech’s meteoric rise during the pandemic is not playing as well in today’s funding environment. We look at [overall funding to the sector,]( which is facing disappointments in the edtech unicorn crowd, some reversal of the pandemic-driven boost in online learning, and a weak exit environment. And, it’s not just you. Artificial intelligence is raising a ton of money and shook up the rankings of [Bessemer Venture Partners]( annual Benchmarks Report. 🧑 🏫 [Edtech losing its luster as online learning goes back to school]( Pandemic-fueled funding in edtech is leaving the sector gasping for breath as valuations decline and startups aren’t getting any big investments. There is a bright spot, however, for those that include AI-enabled edtech tools and platforms. While not the $100 million-plus raises of the past, these startups are raising some cash. Related Crunchbase Pro list: [Edtech And Education Startup Funding]( ⛅️ [Annual cloud sector ranking holds few surprises, hints at IPO thaw]( [Bessemer Venture Partners]( released its annual ranking of private cloud companies, and to no surprise artificial intelligence leads the way. Along with [OpenAI]( four additional native AI companies ranked this year, and a cloud security company raised its way closer to the top. 👀 [Vision Funds realize gains as parent SoftBank goes shopping]( [SoftBank]( [Vision Fund]( unit — known for its investment in startups including [Uber]( [WeWork]( and [DoorDash]( — posted its first gain in six quarters as the tech investing giant started to look for deals again. 👍 [VC platform teams vital to firm success]( Venture firms with solid, successful platform teams would do well to keep them intact, no matter the direction the market is moving, argues guest author [Dale Chang]( operating partner at [Scale Venture Partners]( and board member of [VC Platform Global Community](. 🚨 [Company closures mount on Layoffs Tracker]( A total of 14 tech startups joined our Layoffs Tracker last week. Four of them laid off all their workers and shut down. At the top of the shut-down list was a hot indoor farming startup that raised nearly $700 million from venture investors before going public via SPAC. 🧨 [10 largest funding deals: August starts with a bang]( After a kind of sleepy July, August came roaring back with a whole bunch of nine-figure funding rounds to U.S. startups last week. That includes big checks to a networking startup headed by the former longtime CEO of [Cisco]( a company working on turning greenhouse gasses into a useful material it calls “AirCarbon,” and a startup hoping to make shopping for car insurance suck a little less. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Thermo Fisher Scientific]( [$3.0B]( / [Post-IPO Debt]( Thermo Fisher Scientific is a biotechnology and laboratory equipment company that provides a wide range of scientific products and services. Categories: Bioinformatics • Biotechnology • Cloud Data Services • Consulting • Health Care • Life Science • Management Information Systems Founders: [George Hatsopoulos]( [DoubleVerify]( [$408M]( / [Post-IPO Secondary]( DoubleVerify is a software platform that specializes in digital media verification and advertising technology. Categories: Advertising • Analytics • Brand Marketing • Digital Marketing • Software Founders: [Alex Liverant]( [Oren Netzer]( [Neuralink]( [$280M]( / [Series D]( Neuralink develops a brain-machine interface that provides solutions for those with paralysis. Categories: Hardware • Medical • Medical Device • Neuroscience • Robotics • Software • Wearables Founders: [Elon Musk]( [Max Hodak]( Investors: [Founders Fund]( (Lead) More Fundings Company Amount / Round Lead Investor [Cushman & Wakefield]( $500M / [Post-IPO Debt]( - [Viasat]( $80M / [Grant]( - [Meatable]( 31M EUR / [Series B]( [Agronomics]( [Inspirato]( $25M / [Post-IPO Debt]( [Capital One Ventures]( [Faraday Future]( $16M / [Post-IPO Debt]( [Streeterville Capital]( [Apollo IoT]( $675K / [Seed Round]( - [Hercules Capital]( Unknown / [Post-IPO Equity]( - [All Recent Funding Activity]( Recent Acquisitions [Simon & Schuster]( Pending acquisition by [Kohlberg Kravis Roberts]( for $1.6B Upcoming Tech Events [Blockchain Economy Summit London]( January 1 - 1, 2024 Blockchain Economy Summit is a blockchain conference network bringing together the key players of the crypto industry. Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.