March was a strong month for significant funding rounds. To even make the list, a company had to raise at least $200 million. As expected, a major artificial intelligence investment led the pack.

1. Anthropic’s $3.5B Round, Artificial Intelligence:
   Anthropic, the AI startup known for its Claude assistant, raised a massive $3.5 billion in funding, led by Lightspeed Venture Partners. The new round values the company at $61.5 billion, a notable jump from its previous valuation of $18.5 billion in February 2024. This funding briefly made Anthropic the second-most valuable AI startup, although it now lags behind xAI, which was recently valued at $80 billion. Despite this, Anthropic remains a key player in the AI space, well behind OpenAI, which is preparing for a $40 billion funding round from SoftBank, bringing its valuation to $260 billion.
2. Nerdio’s $500M Round, Information Technology:
   Nerdio, a company that helps automate IT operations, raised $500 million from General Atlantic, valuing it at $1.2 billion. With over 15,000 customers across 50 countries and more than 85% year-over-year revenue growth, Nerdio has proven its value despite being relatively under the radar. Founded in 1998, the company has now raised $625 million.
3. Fleetio’s $450M Round, Fleet Management:
   Fleetio, a software platform for fleet optimization, secured $450 million to fund its acquisition of Auto Integrate, a maintenance authorization platform. The new round, co-led by Elephant and Goldman Sachs Alternatives, values Fleetio at over $1.5 billion. Founded in 2011, Fleetio now serves over 8 million vehicles and processes more than 13 million repair orders annually. The company has raised $620 million.
4. Mercury’s $300M Round, Fintech:
   Mercury, a fintech company offering integrated business banking services, raised $300 million in its Series C round, led by Sequoia Capital. This round more than doubles the company’s previous valuation of $1.6 billion, bringing its current valuation to $3.5 billion. Founded in 2017, Mercury has raised $452 million to date.
5. Flock Safety’s $275M Round, Public Safety:
   Atlanta-based Flock Safety raised $275 million, led by Andreessen Horowitz, bringing its valuation to $7.5 billion. The company’s safety platform includes AI-powered cameras, gunshot detection, and other surveillance technology. Flock Safety has surpassed $300 million in annual recurring revenue. Founded in 2017, it has raised nearly $656 million.
6. Celestial AI’s $250M Round, Semiconductors:
   Celestial AI, which develops optical interconnectivity technologies, raised $250 million in its Series C1 round, led by Fidelity Management & Research Co. This round values the startup at $2.5 billion, nearly doubling its previous valuation. Celestial AI’s platform enhances AI processing speed and energy efficiency, having raised more than $515 million to date.
7. Epirus’ $250M Round, Defense:
   Epirus, a defense tech startup specializing in microwave technology for countering drones, raised $250 million in its Series D round, led by 8VC and Washington Harbour Partners. With backing from General Dynamics Land Systems, Epirus aims to expand into international markets and grow its workforce. The company has raised over $550 million.
8. Island’s $250M Round, Cybersecurity:
   Island, a cybersecurity firm focused on enterprise browsers, raised $250 million in its Series E round at a $4.8 billion valuation. The round was led by Coatue Management, with several existing investors participating. Founded in 2020, Island has raised $810 million, with a significant jump in valuation from $1.3 billion in 2022.
9. Shield AI’s $240M Round, Defense:
   Shield AI, a company developing autonomous systems for defense, raised $240 million, bringing its valuation to $5.3 billion. The funding round saw participation from major investors, including Hanwha Aerospace and L3 Harris Technologies. Shield AI has raised $1.3 billion and continues to develop intelligent systems for military use.
10. Lila Sciences’ $200M Round, Life Sciences:
    Lila Sciences, which is using AI to build the world’s first scientific superintelligence platform, raised $200 million in seed funding. The company aims to revolutionize life, chemical, and materials sciences by leveraging AI to design and conduct experiments and make predictions.