Venture - Series Unknown Funded Information Technology Startups
Among 50 “Venture - Series Unknown” Information Technology rounds, Armis Security’s $435M (2025-11-06) is a clear size outlier: it sits far above other lar…
Among 50 “Venture - Series Unknown” Information Technology rounds, Armis Security’s $435M (2025-11-06) is a clear size outlier: it sits far above other large disclosed rounds like Everlaw at $202M (2022-08-08), and dwarfs the rest of the disclosed amounts clustered mostly between a few million and a few tens of millions. Disclosed amounts also cluster in time, with 2025 posting multiple entries in November (e.g., Lative $8M on 2025-11-15; Oleria $19M on 2025-11-05; iVerify $12M on 2025-11-08), while earlier years dominate the list edge with oldest disclosed rounds in June 2022 (e.g., Wellspring $450K on 2022-06-24; Fractional $18M on 2022-06-15). Geographically, the strongest single-city concentration is San Francisco, which appears repeatedly (e.g., Everlaw 2022-08-08, Covey 2022-09-01, Boardspan 2022-07-27, pulsESG 2022-07-25), and several rounds remain undisclosed (12 of 50 rows list “undisclosed” amounts).
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Frequently asked
What’s the largest disclosed round in this “Venture - Series Unknown” IT slice, and how separated is it from the next-largest disclosed amount?
Armis Security’s $435M on 2025-11-06 is the largest disclosed amount in the 50-row view; the next-largest disclosed rounds include Everlaw at $202M (2022-08-08). That gap makes Armis Security’s round the dominant outlier by disclosed size.
Are the most recent deals clustered in time, or spread evenly across the date range shown?
The recent activity is clustered toward late 2025, with multiple November 2025 rounds (e.g., iVerify $12M on 2025-11-08; Evrotrust $8M on 2025-11-07; Armis Security $435M on 2025-11-06; Lative $8M on 2025-11-15). The oldest dated entries shown fall in mid-to-late June 2022 (e.g., Fractional $18M on 2022-06-15; Wellspring $450K on 2022-06-24).
Which city shows the clearest concentration, and can a single hub explain most entries?
San Francisco is the most repeated city in this set, appearing on multiple rows such as Everlaw ($202M) on 2022-08-08, Covey ($8M) on 2022-09-01, Boardspan (undisclosed) on 2022-07-27, and pulsESG (undisclosed) on 2022-07-25. Other cities appear once or a few times, so there isn’t a dominant geography beyond San Francisco.
Do undisclosed round sizes materially affect the interpretation of “largest” and “smallest” outcomes?
Yes: 12 of the 50 rows list the amount as “undisclosed,” so comparisons should focus on disclosed amounts only. Within disclosed rounds, the smallest disclosed amount is $130K for HSD on 2022-07-07, while larger disclosed deals range up into nine figures like Armis Security’s $435M.
Are there notable size tiers among disclosed rounds, such as a concentration in the millions versus a few very large tickets?
Most disclosed amounts shown fall in the millions-to-tens-of-millions range (e.g., Oleria $19M on 2025-11-05; SimSpace $39M on 2025-10-29; QA Wolf $20M on 2022-09-07), while a small number of disclosed rounds run much larger (Everlaw $202M in 2022-08-08 and Armis Security $435M in 2025-11-06). The result is a heavy right tail driven by a few very large tickets.
Which disclosed “entry points” stand out at the small end of the disclosed range?
At the low end, HSD’s $130K on 2022-07-07 is the smallest disclosed amount; nearby smaller disclosed tickets include Wellspring at $450K (2022-06-24) and Activ Technologies at $810K (2025-10-29). These are distinctly below the many other disclosed rounds in the $2M–$22M span (e.g., Dendi $2M on 2022-08-17; SaaS Alerts $22M on 2022-09-08).
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