Funding at Your Fingertips

As a thriving hub for tech innovation, the Triangle area in North Carolina is home to a diverse range of software startups that are raising significant funding. From AI solutions to simplifying sustainability practices, these companies are driving change and making their mark in the community. Our list highlights five companies across various industries and funding stages that are uniquely contributing to the Triangle’s tech ecosystem. Let’s dive in.

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1. CData Software

CData Software is a data connectivity platform founded in 2016 in Chapel Hill. The company has gained recognition as one of the top tech startups in the state, offering solutions to help businesses simplify, integrate, and manage their enterprise data.

Their platform provides real-time data access across enterprise applications and infrastructure. Their suite of products includes Connect Cloud for data connections from over 300 sources, Arc for B2B integration, and many more solutions that help streamline data access and enhance analytic capabilities without complex coding.

In June 2024, CData received $350 million in funding led by the private equity firm Warburg Pincus, with participation from Accel and previous investor Updata. This is believed to put the company’s valuation at over $800 million. Updata previously invested $160 million into the startup from 2020-2021.

Today, CData serves over 7,000 clients worldwide across diverse industries. Some of their big-name clients include FedEx, Office Depot, and Salesforce.

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2. Pryon

Founded in 2017 in Raleigh, Pryon is an AI-powered knowledge management platform. It helps enterprises incorporate generative AI and advanced large language models (LLMs) into their business model for increased productivity.

Pyron was built by developers who previously helped create leading software applications such as Siri and Alexa. It uses what is called its RAG (Retrieval-Augmented Generation) Suite to extract data from audio, video, image, and of course, text content.

According to CBInsights, Pryon has funded over $158 million. In September 2023, the startup raised $100 million with a valuation between $500 million to $750 million. This significant round of funding was led by the Innovative Technology Fund and was put towards expanding the Pyron team and branching out into an international market.

Pyron has secured many prominent and enterprise-level clients, such as Dell, Nvidia, and the World Economic Forum. The software startup was also named as one of KMWorld’s 100 Companies That Matter in Knowledge Management in 2024, highlighting its immense impact in the field.

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3. JupiterOne

The next software startup making a big name for itself is JupiterOne. Founded in 2018 in Durham, JupiterOne is revolutionizing cybersecurity and asset management. This innovative platform helps organizations of all sizes understand and secure their digital landscape through advanced technologies and user-friendly interfaces.

At its core, JupiterOne provides a comprehensive cyber asset inventory, consolidating data from over 250 integrations across IT, DevOps, security, and HR tools. The platform's unique graph-based model maps relationships between assets, owners, and security controls.

JupiterOne's success is evident in its funding and client base. In June 2022, they raised $70 million, bringing their total funding to $119 million. The platform is trusted by large organizations like Indeed, Mercury Financial, and Databricks.

JupiterOne’s innovative approach to cybersecurity has gained much attention in the industry. Its ability to provide visibility across all asset types, including cloud services, applications, and users, sets it apart from traditional security solutions.

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4. Levitate

Next on our list is Levitate, a relationship management platform, founded in 2017 in Raleigh. Their service, called the Happiness Platform, combines all of their client’s advertising equipment into an easy-to-use and intuitive database.

From booking meetings and crafting personalized emails to scheduling social media posts and analyzing results in real-time, Levitate consolidates all the marketing essentials into one toolkit. The platform even lets you mail out handwritten cards (courtesy of some clever robots) and send out client happiness surveys.

Levitate secured $15 million in funding in August of this year (2024), bringing their total funding to over $54 million. Currently, the platform offers a three-tiered pricing strategy for their customers, which offer various levels of AI integration, website creation, and even SEO maintenance and hosting.

Overall, Levitate’s innovative approach has resonated with businesses seeking authentic, personalized marketing solutions. They offer multiple integrations and serve clients across a wide range of industries, including non-profit, insurance, accounting, and more.

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5. Greenplaces

Rounding off our list is Greenplaces, a sustainability solution platform. Greenplaces was founded in 2021 in Raleigh with a goal to make sustainability accessible to businesses of all sizes. Their all-in-one platform helps companies track their sustainability goals, measure progress, and get actionable insights to improve their environmental impact.

Greenplaces’ suite of features includes carbon footprinting, ESG policy templates, and reporting tools that align with major frameworks. The platform also offers real-time utility and emission monitoring, along with goal-setting capabilities. 

Greenplaces’ total funding amounts to more than $18.9 million, with a big chunk of that from a recent $13 million round in 2023. They’ve attracted clients ranging from local Triangle businesses, such as the Barcelona Wine Bar and Pendo, to national names like Salesloft and 1 Hotels.

The company’s solutions are designed to be flexible and scalable, allowing businesses to meet reporting requirements, save money on utilities, win customer trust, and attract top talent. They serve a diverse range of industries, including law firms, staffing agencies, tech companies, and more.

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A Snapshot of Tech Innovation

These five startups embody the vibrant entrepreneurial spirit that is thriving in the Triangle’s tech community. From AI-powered knowledge management to accessible sustainability solutions, each company has their own niche and is securing significant funding along the way.

However, this list represents just a corner of the region’s tech scene. Whether you’re looking to invest, collaborate, or are just curious about new technologies, the Triangle offers a wealth of opportunity, creativity, and talent for software innovation.