Dec 15, 2024

VC funding: Halcyon, Constrafor, PlayAI, Range, Cardless, Boosted.ai 15/12/2024 Tech startups such as Halcyon, Constrafor, PlayAI, Range, Cardless, Boosted.ai, among others, announced their VC funding from venture capital companies to bolster their growth. VC funding for tech Constrafor Secures $264 mn Constrafor, a leading software provider for the construction industry, announced the completion of its $264 million Series A funding round, consisting of $14 million in equity led by NFX and a $250 million credit facility from Wafra and Crestline Investors. The funding will accelerate Constrafor’s growth and address key industry challenges, including cash flow constraints, tight margins, labor shortages, and supply chain inefficiencies. PlayAI Secures $21 mn PlayAI, a voice AI platform for generative AI conversations, has raised $21 million in a Seed round led by Kindred Ventures and 500 Global, with contributions from Race Capital, Y Combinator, Soma Capital, Pioneer Fund, and TRAC. The funding will be used to enhance PlayAI’s generative AI voice models, voice agent platform, and accelerate the development of human-quality speech experiences for businesses. Range Raises $28 mn AI WealthTech platform Range raised $28 million in Series B funding, led by Cathay Innovation and joined by Gradient Ventures and others, bringing its total funding to $40 million. The company plans to use the funds to expand, accelerate product development, and scale its engineering teams. Range, powered by its AI engine Rai, provides wealth management services up to 20 times faster and at significantly lower fees than traditional advisors. Cardless Raises $30 mn Cardless, a fintech innovator specializing in co-branded credit card solutions, raised $30 million in a growth investment round led by Activant Capital. Other participants included Mischief, Industry Ventures, Thayer Ventures, Assurant, and Amex Ventures. This funding brings Cardless’ total equity funding to over $90 million. The funds will drive product development, talent hiring, and expansion into retail, e-commerce, and SMB sectors. Boosted.ai Secures $15 mn Boosted.ai, an innovative generative AI platform, has raised $15 million in a financing round, bringing its total funding to $61 million. The investment, led by Fidelity Investments Canada ULC alongside existing institutional backers, Ten Coves Capital, Spark Capital, Portage Ventures, Royal Bank of Canada and HarbourVest Partners, will fuel the growth of its agentic AI platform, Alfa, which acts as an AI-powered financial coworker. Alfa helps investment managers automate workflows, reducing tasks that typically take 40 hours to a mere 20 minutes. The funding will also enhance onboarding, user training, and product demand management, empowering asset managers, wealth managers, and hedge funds to streamline decision-making and improve financial outcomes. Halcyon Raises $100 mn Halcyon, an anti-ransomware platform, has raises $100 million in a Series C funding round led by Evolution Equity Partners and Evolution Equity Partners. There was  participation from Bain Capital Ventures, SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures and existing investors. The funding will bolster Halcyon’s efforts to combat the rising ransomware epidemic. The platform offers unique resilience technology, enabling recovery from attacks within minutes without ransom payments. Tags