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Monthly Funding Report: March 2023 Funded Startups and Their Domain Name Choices
By Tsani Gramatikova access_time 10 min read

Discover the latest trends in global monthly funding data, with a unique focus on companies’ domain name choices, in our monthly funding reports.


According to our research, global funding for March amounted to $23.8 billion across 545 transactions, representing a significant increase from the previous month’s total of $15.4 billion across a similar number of transactions – 530.

However, despite the monthly increase, Crunchbase data reveals that global funding for the first quarter of 2023 was $76 billion. This marks a 53% decline year over year from the $162 billion raised in the first quarter of 2022.  

The collapse of Silicon Valley Bank on March 10 further worsened the already weakened funding environment. With over 20,000 startup depositors with $5 million or less in revenue, the bank’s closure had far-reaching consequences beyond the U.S., as it was a popular bank choice for startups worldwide sourcing funds from U.S. venture firms. The situation left many investors and founders scrambling to secure funds to meet payroll, with a large number of startups facing the possibility of shutting down due to a lack of funding.

Regarding the number of deals, Seed round funding remained the most preferred option for investors this month, with 168 deals and a total raised of $941,425,000. Following closely behind was Series A funding, which saw an increase in the number of deals from 133 to 149, and close to $3 billion raised. Series B funding secured $2,581,900,000.00 across 63 deals, while Series C funding raised $1,290,700,000.00 across 21 deals, according to our data analysis.

By funds raised/ Total funding $23,791,930,000.00

Monthly Funding Report: March 2023 Funded Startups and Their Domain Name Choices
Monthly Funding Report: March 2023 Funded Startups and Their Domain Name Choices

By number of deals/Total number of deals 544

Monthly Funding Report: March 2023 Funded Startups and Their Domain Name Choices
Monthly Funding Report: March 2023 Funded Startups and Their Domain Name Choices

Despite the ongoing uncertainty and economic challenges, venture investors continue to demonstrate confidence in emerging technologies and disruptive business models, driving the growth of the startup ecosystem. FinTech, AI and Machine Learning, Biotechnology, Biopharma, Clean Energy, Consumer Lending, and Autonomous Vehicles are among the sectors that have raised the largest funding rounds.



Founded in Madrid, Spain, in 2011, Cabify has established itself as a leading ride-hailing company with a presence in multiple regions worldwide. The company offers transportation services to over 42 million registered users and 1.2 million drivers through its mobile app. Cabify recently raised $110 million in funding, which it plans to use to expand its existing footprint, enhance its technology stack, and introduce more electric vehicles into its fleet.

This commitment by strategic investors is a recognition of Cabify’s positive impact and potential to continue creating long-term value for our investors and the cities in which we operate.

Cabify CEO Juan de Antonio said in a statement

Cabify derives its name from a clever play on words in English: combining “Cab” (short for taxi) with the suffix “-ify”, which means “to make into”. This reflects the company’s core mission to transform any vehicle into a taxi, providing accessible and convenient transportation options to riders across the globe.

By operating on an exact brand match domain name, Cabify has established a strong and recognisable online presence, helping to enhance its reputation and expand its customer base. With a commitment to innovation and sustainability, Cabify is well-positioned to meet the evolving transportation needs of consumers in a changing world and continue to make a positive impact in the communities it serves.

Cabify funding


eToro is an online social trading and investment network that enables users to trade various assets, including currencies, commodities, indices, crypto assets, and stocks. In March 2023, eToro secured $250 million in funding at a $3.5 billion valuation after cancelling its plans to go public via a SPAC at a $10.4 billion valuation in 2022. The company plans to use the new capital to expand its business and invest in the product globally, with a focus on key markets.

The name “eToro” is a combination of two words: “e” for electronic and “Toro,” which means bull in Spanish. The company’s founders chose this name to represent their vision of democratising global financial markets and empowering individual investors to take control of their financial future. The bull also symbolises strength and resilience in financial markets, representing the company’s commitment to helping its users thrive and succeed in their investing endeavours.

As a fintech company, eToro operates in a highly competitive and regulated industry where trust and credibility are key. Investing in an exact brand match domain is particularly important for the company, as it helps establish a solid and trustworthy brand identity that customers can easily recognise and remember. This enhances the company’s reputation and credibility in the eyes of potential customers, ultimately leading to increased user acquisition and retention.

eToro funding


Ledger is a French technology company founded in 2014 by Eric LarchevĂŞque and Joel Pobeda. The company specialises in developing secure hardware wallets for storing cryptocurrency assets. In a recent statement, Ledger announced its latest funding rounds of $109 million. Bloomberg stated that the company’s valuation has remained steady at approximately $1.4 billion, consistent with the valuation it received during its previous funding round in June 2021. During that funding round, Ledger raised a substantial $380 million in a Series C round during that funding round.

In its marketing and branding strategies, Ledger has focused on promoting the security and reliability of its products, as well as the ease of use and accessibility for all types of cryptocurrency users. The company has also prioritised community engagement and partnerships, including collaborations with other blockchain and crypto companies to enhance the overall user experience. The name ‘Ledger’ reflects the company’s mission to provide a ledger or record of secure transactions on the blockchain. 

The acquisition of the premium domain name is an essential strategic move for Ledger. Using a simple and memorable domain name can improve the company’s online visibility and credibility, making it easier for potential customers to find and trust the brand.  It also signals to the market that the company is committed to providing secure and reliable solutions for storing and managing digital assets. 3

Ledger funding


Stripe, a San Francisco-based payments provider and one of the world’s most valuable private companies has signed agreements for a Series I fundraising of over $6.5 billion (€6.15 billion) at a $50 billion (€47 billion) valuation. Primary investors include existing Stripe shareholders such as Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital, as well as new investors such as GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

The funds raised will provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, leading to the retirement of Stripe shares to offset the issuance of new shares to Series I investors.

In one of our articles, we shared an exciting story about how Stripe got its name and why they chose to invest in the exact brand match domain, despite already acquiring alternative domain names. Check out the full story here.

Stripe funding


Gravie, a leading health benefits company, has been on an accelerating growth trajectory since its founding in 2013. The company designs innovative employer-sponsored benefits solutions that put employees’ needs at the centre of the healthcare ecosystem. Recently, Gravie announced that it had raised $75 million in a Series E round of financing led by Georgian, a growth-stage investor based in Canada, with participation from existing investors FirstMark Capital, AXA Venture Partners, Split Rock Partners, and Revelation Partners. The capital will be used to fuel Gravie’s continued growth through investments in all areas of the company, including product and technology, sales and marketing, and expansion into new markets through new and existing distribution channels.

Gravie is focused on rebuilding the consumer experience in healthcare from the bottom-up and creating health benefits solutions that are sustainable long-term for employers.

Abir Sen, co-founder and co-CEO of Gravie

The name Gravie is a play on the word “gravy” and signifies the importance of employer-sponsored benefits that are often viewed as “something extra.” The company’s founders chose to spell “Gravie” to avoid confusion and create a unique brand identity. By operating on an exact brand match domain with, the company has further solidified its brand recognition and made it easier for potential customers to find and remember them.

Gravie funding


When it comes to establishing an online presence, the majority of businesses – 374 out of 544 on our list – prefer to secure a .com domain name. This extension is widely recognized as the most credible and respected option, enabling businesses to build trust and credibility with their target audience. 

March 2023 Funded Startups and Their Domain Name Choices

38 entries have chosen the .io extension, followed closely by the .ai with 29 users. These extensions are often associated with technology and innovation, which can be beneficial for companies in the tech industry or those looking to position themselves as forward-thinking or cutting-edge. However, these extensions may not be as widely recognized as other domains such as .com, and may not convey the same level of credibility to potential customers. This can make it more difficult for people to find and remember the company’s website, potentially impacting traffic and revenue. 

22 companies on the list use the .co domain extension. This extension 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.

8 entries have shosen the country-specific domain extension for the UK. Country domain codes offer more freedom of choice but come with certain risks for businesses.

189 companies in our list have invested in exact brand match domains. A solid online presence is critical to any company’s success. An exact-match top-level domain name ensures that the business will be easily found online, as the default domain is what customers will look for when trying to reach the brand. 

In a recent post, entrepreneurs shared their experiences of investing in a premium domain name for their business and the benefits they have seen as a result. These benefits included increased brand recognition and trust among customers, as well as a more memorable and easy-to-remember web address.

March 2023 Funded Startups and Their Domain Name Choices

Dashes are used in 16 names on the list. Adding hyphens is not advised since it adds complexity for consumers who frequently overlook it while typing in a domain name.

March 2023 Funded Startups and Their Domain Name Choices

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.

Premium domain names are a valuable asset for businesses looking to build a strong, professional brand. If you’re interested in purchasing a premium domain name for your business, don’t hesitate to contact us for more information and assistance.

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