Discover the latest trends in global monthly funding data, with a unique focus on companies’ domain name choices, in our monthly funding reports.
Our research shows that the global venture funding in April amounted to $24.7 billion, spread across 523 deals.
Although the number of deals declined slightly compared to March, funding was still robust, with Seed Round and Series A investment showing particularly strong results. Despite some fluctuations across different rounds, the overall startup funding landscape remained active and dynamic. While the Pre-seed round saw a drop in funding amount, there was an increase in the number of deals. Seed Round remained strong, with a higher total amount raised and more deals than in March. Series A experienced a significant increase in funding amount, while Series B and Series C remained relatively stable. Series D showed a slight increase in both the funding amount and the number of deals.
By funds raised/ Total funding $24,710,239,000.00
By number of deals/Total number of deals 523
The healthcare sector emerged as the top performer in funding, raising the most significant amounts, followed by companies operating in AI and fintech.
In April 2023, the Crunchbase Unicorn board saw the addition of five new unicorns, marking it the sixth consecutive month for single-digit additions. The AI sector contributed three of the new unicorns, with the remaining two coming from other industries. Among the new unicorns, three are based in the United States, while the United Kingdom and China each have one company that joined the list.
New-York based CoreWeave is a cloud infrastructure developer providing blockchain and other applications with computing resources. The startup recently closed a $221 million Series B round, bringing the total amount raised to $371 million. According to CEO Mike Intrator, the funds will be allocated towards expanding the company’s U.S.-based data centres, with two new centres set to open this year.
CoreWeave’s brand name reflects its vision and mission, where the combination of the words “core” and “weave” creates a cohesive and meaningful union. Choosing a name consisting of two words that complement each other can create a powerful brand identity greater than the individual words alone.
In addition to a well-thought-out brand name, CoreWeave has invested in an exact brand match domain name, CoreWeave.com, which can help further establish the brand’s credibility and authority in the global market.
Based in San Francisco, California, Tonal was established in 2015 by Aly Orady. The company is a pioneer in the field of smart home gym equipment, manufacturing digital weight machines that blend artificial intelligence and expert-led coaching. Tonal’s unique approach to strength training provides personalised workout routines tailored to individual needs, such as building muscle, balancing strength, and improving athletic performance. By combining cutting-edge technology with expert guidance, Tonal has revolutionised the fitness industry and helped users achieve measurable results. The recent $130 million funding round led by prominent investment firms L Catterton, Cobalt, Dragoneer, Kindred Ventures, and THVC is a testament to the brand’s potential and vision.
Many brands choose to play with related words when selecting a brand name, as it can help reinforce the company’s message and values. In Tonal’s case, using a name closely related to the concept of muscle tension enhances the brand’s focus on strength training and fitness. This naming strategy can also help with brand recognition and recall, as the name is easy to associate with the product and its benefits.
Tonal’s decision to secure the exact brand match domain name Tonal.com is a savvy strategic move that amplifies the brand’s online presence while bolstering its market credibility and trustworthiness.
Scan is a healthcare technology platform that aims to provide accessible and affordable high-quality medical imaging to people everywhere. Scan.com has raised a total of $17M in funding over three rounds. Their latest funding was raised on April from a Series A round.
The simplicity and straightforwardness of the brand name Scan align with the company’s goal of making medical imaging more accessible and easy to understand for everyone.
The American healthcare system is fraught with insurance roadblocks, poor provider-to-patient communication, and logistical nightmares. This can make getting the medical care you need feel frustrating, exhausting, or impossible; medical imaging is no exception. That’s not the way it should be, and scan.com wants to change it. We believe booking an imaging scan should be a simple, stress-free, and transparent process. We’ve partnered with top-rated imaging centres to make it easy for you to connect with an imaging centre and get the care you need when you need it.
Using one-word dictionary words as brand names is a popular strategy in the tech industry as it is simple, easy to remember, and often conveys the essence of the company’s mission or values. These words can be easily associated with the company and can even become part of the popular lexicon. Many successful corporations, such as Apple, Amazon, and Google, have employed this strategy and become household names.
Super is a savings super app that offers American consumers a comprehensive solution to save money, gain access to credit, and enjoy more of life’s experiences. Super is the home of the SuperCash card, which provides cashback and credit-building opportunities. The company has raised over $100 million in venture-backed financing, achieved $1 billion in sales, and has over $100 million in net revenue. Last month, Super successfully concluded an $85M C fundraising round, with Inovia Capital leading the way.
Raising our Series C is proof of investor confidence in our ability to scale the business responsibly. This will allow us to both continue investing in growth while driving improving margins
Daniel Weisenfeld, Chief Financial Officer of Super.com
Replit is a San Francisco-based startup that offers a collaborative in-browser integrated development environment (IDE) and a platform for developers to publish their software and connect with others. Co-founded by Amjad Masad, Faris Masad, and Haya Odeh in 2016, Replit also serves as a social platform and a resource for learning programming. Before starting Replit, Amjad Masad held engineering positions at Facebook and Yahoo, where he developed software development tools.
Recently, Replit announced that it raised $97.4 million in funding at a $1.16 billion post-money valuation. With over $200 million raised, Replit plans to continue its mission of empowering software developers by enhancing its core product experience, expanding cloud services, and driving innovation in AI.
AI has already brought that future closer. We look forward to expanding our offerings for professional developers.
Replit founder and CEO Amjad Masad for TechCrunch
Starting from March 2021, the default domain name for Replit’s web service changed from the previous “repl.it” to “replit.com.” This change was motivated by Masad’s preference for people to pronounce the website’s name as /ˈrɛplɪt/ instead of /ˈrɛpəl/ and was also driven by issues with the “.it” top-level domain (TLD), such as renewal restrictions.
Replit’s domain name change serves as a reminder of the significance of selecting the right domain name from the outset. In the constantly evolving digital landscape, a domain name is more than just a web address; it’s a fundamental aspect of a company’s brand identity and online marketing strategy. While some businesses may choose a domain that doesn’t perfectly match their company name due to availability or cost, it’s important to consider the long-term vision and benefits. Settling for a domain name that may only provide short-term advantages could hinder a company’s growth and reputation.
The latest data on domain name extensions for April-funded companies shows that “.com” continues to be the most popular option, with 353 companies choosing it as their domain name extension.
Other popular domain name extensions were “.io” with 27 companies using it, which is commonly preferred by technology and software startups for its futuristic and innovative connotations. “.ai” and “.co” were also popular choices with 23 and 20 companies respectively selecting them. Country domain codes offer more freedom of choice but come with certain risks for businesses.
“.org” was used by 5 companies, which was initially intended for use by nonprofit organisations but has now become a multi-purpose option just like “.com”.
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When it comes to premium domain names, it’s important to weigh the potential loss in terms of brand recognition and revenue against the cost of the investment. In the long run, a premium domain name can be a valuable asset for your business. Contact us to learn more about our premium domain options and how they can help your business succeed.