From the Editor’s Desk: An Insider’s View of Startup Fundraising in 2022 – Crunchbase News | Region & Cash

As journalists, it’s not often that we get first-hand experience of what goes on behind the scenes in the industry we cover.

But that’s exactly what I had here at Crunchbase News with Crunchbase’s announcement today that it had raised $50 million in a Series D round led by Alignment Growth.1

The funding comes at one of the most difficult times for late-stage startups to raise capital in years. As we’ve extensively reported, venture funding has declined significantly in 2022 – albeit from last year’s record highs – and the slowdown only accelerated in the second quarter.

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Many startups are raising capital at deflated valuations and tech layoffs have accelerated over the year. As IPO markets have effectively stalled, late-stage startups have had a particularly tough time: Funding for these companies in the second quarter fell 31% qoq and 38% year over year.

Crunchbase’s funding underscores some big themes we’ve seen in our news this year.

Steady as it goes: It’s been nearly three years since Crunchbase raised its Series C funding. During that time, the company has steadily built a solid prospecting software business that is on track to double ARR this year and put it on the path to profitability. The company’s cash burn is also low and we continue to hire at a healthy pace (including some new hires on my team – see below).

That’s in contrast to the many startups we saw last year that took all the capital investors would throw at them, sometimes raising large, back-to-back rounds within a matter of months. Quite a few of these companies have since issued layoffs or, in some cases, completely imploded, despite raising huge sums of money from venture investors.

Cash is king again: With the sharp turn in the venture market this year, the “grow at all costs” approach has fallen out of favor with investors, who now want to see startups watch their expenses and have several years of runway ahead of them.

What is an evaluation worth anyway? Crunchbase, in particular, does not disclose its rating in this latest round. But it’s worth noting that reviews in general – and especially in the current fundraising environment – don’t really matter until they’re actually validated in the marketplace. We’ve seen this when pre-IPO companies like Klarna and Instacart have faced severe valuation cuts. At the end of the day, the only rating that really matters to a startup’s investors and employees is the one tied to an exit.

More news about news…

The Series D announcement isn’t the only exciting news here. We recently added two new journalists to the Crunchbase News team to further expand our coverage:

  • Christine Kilpatrick joined us as Special Projects Editor, a newly created role in which she manages Crunchbase News’ growing editorial calendar of major projects and initiatives. This includes our monthly and quarterly venture funding reports and our landing pages that host the Crunchbase Unicorn Board. Christine is a very experienced editor, having previously spent time at the San Francisco Business Times (where I was fortunate to work with her), The Information, and Engineering News-Record. With Christine at the helm, you can expect more focused coverage on a variety of big topics this year. You can reach them at
  • Keerthi Vedantam recently joined our reporting team to lead our coverage of healthcare and biotech startups and venture capital. She will also cover VC-backed companies in the wellness, foodtech and agtech space. Keerthi joins us from dot.LA, a publication about the Los Angeles tech scene. There, she quickly carved out a beat that covers the region’s biotech sector in depth. Before that, she covered Enterprise Tech for Business Insider. Keerthi is already well underway and I can’t wait to see what she achieves here. Reach her at with tips and ideas and follow her on Twitter at @KeerthiVedantam.

With our growing team and a stable, well-funded business behind us, you can expect Crunchbase News coverage to continue to grow this year. As always, feel free to contact us with feedback, news tips, and story ideas.

Marlize van Romburgh is the Editor-in-Chief of Crunchbase News.

Figure: Dom Guzman

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