Discover the latest trends in global monthly funding data, with a unique focus on companies’ domain name choices, in our monthly funding reports.
Overview
In August, the total funding increased significantly to $20.4 billion, up from $13.3 billion in July, accompanied by a rise in the number of deals from 466 to 527. Notable shifts included increases in Seed Round, Series B, Series D, and Series E funding categories, with Seed Round and Series D experiencing significant growth. Although Pre-seed funding, Series A, and Series C, saw a decrease in funding amounts, the overall trend for August indicates a robust funding environment with increased investment activity compared to July.
| Round | Amount July (USD) | Number deals July | Amount August (USD) | Number deals August |
| Pre-seed funding | $41,750,000 | 19 | $34,029,016 | 23 |
| Seed Round | $947,141,843 | 167 | $928,859,075 | 191 |
| Series A | $2,509,750,000 | 101 | $1,689,450,000 | 94 |
| Series B | $1,751,340,000 | 49 | $2,026,340,000 | 47 |
| Series C | $2,532,600,000 | 23 | $2,318,700,000 | 24 |
| Series D | $723,000,000 | 6 | $2,744,300,000 | 16 |
| Series E | $65,000,000 | 1 | $250,700,000 | 3 |
| Other | $4,680,650,000 | 100 | $11,347,279,558 | 129 |
| Total | $13,250,231,843 | 466 | $20,399,657,649 | 527 |
By funds raised/ Total funding $20,399,657,649
By number of deals/Total number of deals 527
Some industries that saw the most significant funding rounds include biotechnology and healthcare, cloud computing securing (with CoreWave’s outstanding $2.3 billion raised), the cryptocurrency and fintech sector, and significant investments in internet, telecommunications, and market research within financial services and fintech.
Below, we will examine some companies that made headlines and explore their brand and domain name choices.
Namepicks
Abcuro
Based in Newton, MA, Abcuro is a clinical-stage biotech company with a mission to develop cutting-edge immunotherapies for autoimmune diseases and cancer.
Abcuro successfully closed a highly sought-after $155 million Series B financing round, planning to use this financial boost to take ABC008, a groundbreaking monoclonal antibody targeting KLRG1, through a Phase 2/3 clinical trial for inclusion body myositis (IBM).
We are very motivated by the patients we serve and are excited by the clinical data we’ve seen to date. We’re committed to executing on our clinical trials including our registrational trial in inclusion body myositis.
Alex Martin, Chief Executive Officer of Abcuro
The brand name “Abcuro” doesn’t have an obvious dictionary definition, but the combination of letters could be chosen for phonetic appeal and memorability, making it easier for people to remember and pronounce.
Abcuro’s choice to use the exact brand match domain, Abcuro.com, is crucial for its growth and prominence as it establishes a solid online presence and brand identity, making it easy for clients, partners, and stakeholders to find and trust the company.
CoreWeave
CoreWeave, headquartered in New York, specialises in cloud infrastructure development, providing computing resources for blockchain and various applications. The company secured a substantial $2.3 billion debt financing facility, spearheaded by Magnetar Capital and funds managed by Blackstone Tactical Opportunities (“Blackstone”), with strategic involvement from renowned asset management firms such as Coatue and DigitalBridge Credit, as well as funds and accounts managed by BlackRock, PIMCO, and Carlyle.
CoreWeave’s choice of brand name is symbolic of its vision and mission, with “core” and “weave” converging to convey a cohesive and purposeful message. Opting for a two-word name that synergizes in meaning can significantly enhance the brand’s identity, transcending the sum of its individual parts.
AI has the potential to transform the way we engage with technology, power the industries of the future, and make society’s vital services more efficient – as long as the infrastructure is in place to deliver performance at scale…CoreWeave is delivering on this unprecedented level of demand with the most reliable, flexible, and highly performant compute resources to lead the industry forward. The new resources from these world-class investors are a vote of confidence in our accomplishments to date and validate our future strategy.
Michael Intrator, CEO and Co-Founder of CoreWeave
Beyond a well-considered brand name, CoreWeave has also strategically invested in securing an exact brand match domain, CoreWeave.com. This decision further bolsters the brand’s credibility and authority on a global scale.
CoreWeave was previously featured in our articles on funded startups in April 2023 and December 2022.
Modular
Modular, a startup dedicated to creating a platform for developing and optimizing AI systems, recently secured a substantial $100 million in funding. This funding round was led by General Catalyst, with participation from notable investors such as GV (Google Ventures), SV Angel, Greylock, and Factory. With this latest funding, Modular’s total raised now stands at an impressive $130 million. CEO Chris Lattner has outlined a strategic plan for the utilization of these funds, with a focus on product expansion, bolstering hardware support, and advancing Modular’s programming language, Mojo.
As of January 2022, Modular had initiated its journey under the domain Modular.ai. Reflecting its growth and commitment to a robust online presence, the company has successfully acquired the exact brand match domain name Modular.com. This strategic move aligns with the common industry practice of enhancing digital identity by securing matching domain names. For Modular, it not only solidifies its online presence but also reinforces its credibility and authority within the AI industry. An exact brand match domain, such as Modular.com, signifies professionalism, fosters stakeholder trust, and strengthens the company’s competitive edge in the digital landscape.
Neuralink
Neuralink Corporation was founded by Elon Musk and eight partners in 2016 in San Francisco. The trademark “Neuralink” was purchased from its previous owners in January 2017.
The company raised $280M in funding led by Thiel’s Founders Fund; The company did not reveal the valuation at which the funds were raised. Reuters reported that it was valued at about $5 billion in June after privately executed stock trades.
We’re happy to announce our $280M Series D round led by @foundersfund. We’re extremely excited about this next chapter at Neuralink.
— Neuralink (@neuralink) August 7, 2023
If you’d like to help make the first human experience incredible and work on engineering challenges to restore vision and mobility, come join!…
Elon Musk’s vision for his brands involves positioning them as industry leaders, and this strategic foresight is exemplified by his decision to invest in and secure the exact brand match domain Neuralink.com.
Tenstorrent
Tenstorrent is a tech firm specialising in advanced processors engineered for rapid training and adaptability to forthcoming algorithms. The company closed a strategic funding round, securing $100 million in investments, co-led by Hyundai Motor Group and the Samsung Catalyst Fund. This capital injection is earmarked for expediting the firm’s product development efforts, creating AI chipsets, and enhancing its machine learning software roadmap.
Tenstorrent operates on the exact brand match domain Tenstorrent.com, ensuring their brand is secure online, preventing traffic and email leaks, and eliminating potential confusion for customers and business partners.
Highlights
.com extension is the preferred choice among the companies on our list, with 342 out of 527 securing a .com domain for their online presence. Customers worldwide naturally tend to trust .com as it has been dominating the internet for decades.
.io is the second preferred choice with 45 companies operating on this extension, followed by .ai with 43 entries. While .io and .ai domains may be less expensive and easier to obtain than some other popular extensions, they may not be as widely recognized by potential customers and may not convey the same level of credibility.
12 companies chose the .co extension, which is the country code top-level domain (ccTLD) for Colombia, but it is also commonly used by companies and individuals as an alternative to the more well-known .com extension.
257 companies operate with Exact Brand Match (EBM) domain names. For any business, especially startups, matching the domain name to the company’s brand name is essential because it creates instant credibility, trust, and respect.
13 entries incorporate dashes in their domain names. Dashes are often included with two-word brand names or with added words when the business has to compromise on their domain if the exact brand match name is taken/not within reach.
While we make every effort to ensure the data on our site is accurate, complete, and up-to-date, we cannot guarantee its reliability. Our data is provided for informational purposes only and should not be relied upon as legal, financial, or other advice. We strongly recommend that you independently verify any information before relying on it.
Other resources
- Monthly Funding Report: July 2023 Funded Startups and Their Domain Name Choices
- The Power of Premium Domains: How Entrepreneurs Are Investing in the Future
- I don’t need to invest in a domain name, everyone finds me on Google anyway…or do they?
- Unleashing the Power Within: A Journey with Vincent Cheng on Entrepreneurship, Buddhism, and Life Coaching
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.
2023 august branding business domain domain name domain names domains funding Monthly Monthly Funding Report naming report startup
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