Ramp Leads Week's Top Funding; AI & Healthcare Dominate Big Rounds

The past week saw significant activity in startup funding, with several companies securing substantial investments. Leading the charge was fintech provider Ramp, which confirmed a major financing round, alongside notable deals for healthcare AI and biopharma firms. Additionally, reports surfaced of a colossal funding round nearing completion for AI powerhouse Anthropic.

Ramp, a New York-based fintech company offering financial products and tools to automate business finance tasks, secured the largest confirmed investment of the week. The company raised $500 million in Series E funding, valuing it at $22.5 billion. Iconiq Capital led the round, bringing Ramp’s total equity funding to date to $1.9 billion as it scales its initiatives in agentic AI.

Following Ramp, MapLight Therapeutics, a biopharma startup specializing in medicines for brain disorders, announced a $372.5 million Series D funding round. The seven-year-old Redwood City, California-based company’s financing was co-led by Forbion and Goldman Sachs Alternatives.

Ambience Healthcare, a San Francisco-based AI platform designed to assist healthcare systems with documentation, coding, and clinical records, closed a $243 million Series C round. Oak HC/FT and Andreessen Horowitz spearheaded this investment.

In the fashion sector, Quince, an online retailer known for affordable luxury items, reportedly raised $200 million. A Bloomberg report indicated the San Francisco-based company’s valuation now exceeds $4.5 billion, with Iconiq Capital reportedly leading the latest financing.

Observe, an eight-year-old San Mateo, California-based provider of AI-enabled observability tools for businesses, secured $156 million in a Series C funding round. Sutter Hill Ventures led the investment, pushing Observe’s total funding to over $460 million, according to Crunchbase data.

Two companies tied for the sixth-largest funding round, each raising $150 million. Motive, a San Francisco-based company offering fleet tracking and driver safety software, received its new funding round led by Kleiner Perkins. The 12-year-old company is also reportedly taking steps towards an initial public offering (IPO). Concurrently, Anaconda, an Austin, Texas-based provider of AI tools for businesses utilizing Python and open-source applications, announced its Series C funding round, led by Insight Partners. The company noted it is currently profitable, with over $150 million in annual recurring revenue as of July.

Artbio, a clinical-stage radiopharmaceutical startup based in Cambridge, Massachusetts, raised $132 million in a Series B round. The company develops therapies (ARTs) to treat various cancers, with Sofinnova Investments and B Capital participating as lead investors.

Fal, a San Francisco-based startup offering a generative image, video, and audio platform for developers, closed a $125 million Series C round. Meritech Capital Partners led the investment in the four-year-old company, which reported a 60-fold increase in revenue over the past 12 months.

Rounding out the top ten, Oxide Computer Co., an Emeryville, California-based developer of cloud infrastructure for on-premises computing, secured $100 million in a Series B round. US Innovative Technology led the financing for the company, founded in 2019, which has now raised over $260 million to date, per Crunchbase data.

Beyond these confirmed deals, AI giant Anthropic was reported to be nearing the finalization of a funding round potentially worth up to $5 billion, led by Iconiq Capital. This investment could push Anthropic’s valuation to an estimated $170 billion.