--- url: 'https://qubit.capital/blog/us-series-b-plus-weekly-funding-roundup-week-4-march-2026-2' title: 'US Series B+ Weekly Funding Roundup (Mar 20-27, 2026): $609.0M Raised Across 7 Deals' author: name: Sahil Agrawal url: 'https://qubit.capital/blog/author/sahil' date: '2026-03-27T03:31:59+05:30' modified: '2026-03-27T15:47:58+05:30' type: post summary: 'Seven US Series B+ rounds totaled $609M this week, led by Cloaked''s $375M privacy mega-round. Coverage of Shepherd, Doss, Paraform, Spade, Adonis, and SPARK.' categories: - Weekly Funding Roundup image: 'https://qubit.capital/wp-content/uploads/2026/03/featured-us-series-bplus-64783.webp' published: true --- # US Series B+ Weekly Funding Roundup (Mar 20-27, 2026): $609.0M Raised Across 7 Deals Seven US growth-stage companies raised a combined $609 million in Series B and C rounds this week. One deal dominated the headlines: Cloaked’s $375M Series B accounted for over 60% of total capital. Strip that out and the remaining six rounds averaged a more measured $39 million each, spread across insurance, fintech, healthtech, inventory management, recruiting, and deep tech. Alongside these later-stage rounds, US seed startups pulled in $26.5 million across 3 deals, while Series A activity was strong at $304 million across 9 companies. The week’s theme was clear: investors are backing companies that sit at the intersection of AI and traditionally slow-moving industries. Whether it’s construction insurance, healthcare billing, or supply chain management, the capital is flowing toward teams that use AI to compress timelines in sectors where legacy processes still run on phone calls and spreadsheets. Weekly Funding Roundup MAR 20-27, 2026 $609M TOTAL RAISED 7DEALS CLOSED MixedSTAGE $87MAVG DEAL SIZE USTOP REGION BY STAGE Series B$569M93% Series C$40M7% BY SECTOR CloakedCybersecurity$375M DossSaaS / Supply Chain$55M ShepherdFintech / Insurtech$42M ParaformSaaS / HR Tech$40M SpadeFintech / Data Infrastructure$40M AdonisHealthtech$40M SPARK MicrosystemsDeep Tech / Semiconductors$17M Table of Contents - [1. Cloaked Raises $375M For Consumer Privacy and Security](#1-cloaked-raises-$375m-for-consumer-privacy-and-security) [Deal Overview](#deal-overview) - [Investor Profile](#investor-profile) - [Company and Leadership](#company-and-leadership) - [Problem and Opportunity](#problem-and-opportunity) - [Product and Technology](#product-and-technology) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision) - [Market Context](#market-context) - [2. Doss Raises $55M For AI-Native Inventory Management](#2-doss-raises-$55m-for-ai-native-inventory-management) [Deal Overview](#deal-overview-1) - [Investor Profile](#investor-profile-1) - [Company and Leadership](#company-and-leadership-1) - [Problem and Opportunity](#problem-and-opportunity-1) - [Product and Technology](#product-and-technology-1) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-1) - [Market Context](#market-context-1) - [3. Shepherd Raises $42M For AI-Native Commercial Insurance](#3-shepherd-raises-$42m-for-ai-native-commercial-insurance) [Deal Overview](#deal-overview-2) - [Investor Profile](#investor-profile-2) - [Company and Leadership](#company-and-leadership-2) - [Problem and Opportunity](#problem-and-opportunity-2) - [Product and Technology](#product-and-technology-2) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-2) - [Market Context](#market-context-2) - [4. Paraform Raises $40M For Agentic Recruiting](#4-paraform-raises-$40m-for-agentic-recruiting) [Deal Overview](#deal-overview-3) - [Investor Profile](#investor-profile-3) - [Company and Leadership](#company-and-leadership-3) - [Problem and Opportunity](#problem-and-opportunity-3) - [Product and Technology](#product-and-technology-3) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-3) - [Market Context](#market-context-3) - [5. Spade Raises $40M For Financial Transaction Data Enrichment](#5-spade-raises-$40m-for-financial-transaction-data-enrichment) [Deal Overview](#deal-overview-4) - [Investor Profile](#investor-profile-4) - [Company and Leadership](#company-and-leadership-4) - [Problem and Opportunity](#problem-and-opportunity-4) - [Product and Technology](#product-and-technology-4) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-4) - [Market Context](#market-context-4) - [6. Adonis Raises $40M For AI Healthcare Revenue Cycle Management](#6-adonis-raises-$40m-for-ai-healthcare-revenue-cycle-management) [Deal Overview](#deal-overview-5) - [Investor Profile](#investor-profile-5) - [Company and Leadership](#company-and-leadership-5) - [Problem and Opportunity](#problem-and-opportunity-5) - [Product and Technology](#product-and-technology-5) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-5) - [Market Context](#market-context-5) - [7. SPARK Microsystems Raises $17M Series B](#7-spark-microsystems-raises-$17m-series-b) [Deal Overview](#deal-overview-6) - [Investor Profile](#investor-profile-6) - [Company and Leadership](#company-and-leadership-6) - [Problem and Opportunity](#problem-and-opportunity-6) - [Product and Technology](#product-and-technology-6) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-6) - [Market Context](#market-context-6) - [Lessons For Founders](#lessons-for-founders) ## 1. Cloaked Raises $375M For Consumer Privacy and Security ### Deal Overview - **Stage:** Series B - **Sector:** Cybersecurity - **Geography:** Boston, Massachusetts - **Round Size:** $375 million - **Previous Round:** $25M Series A (March 2022) ### Investor Profile General Catalyst and Liberty City Ventures co-led the round. General Catalyst has been increasingly active in cybersecurity, and this bet signals conviction that consumer-grade privacy will become as essential as antivirus software was a decade ago. ### Company and Leadership [Cloaked](https://www.cloaked.com) was founded in 2020 by brothers Arjun Bhatnagar (CEO) and Abhijay Bhatnagar (CTO). The platform has grown to over 350,000 users with 10x user growth in the past year. The company holds ISO 27001, ISO 27701, and PCI-DSS certifications, with annual SOC 2 Type II audits. ### Problem and Opportunity AI-driven fraud is escalating fast. Deepfake calls, synthetic identity fraud, and AI-generated phishing have made personal data exposure a direct corporate liability. Employees’ personal digital footprints are now attack vectors for organizational breaches, and most enterprise security stacks have a blind spot here. ### Product and Technology Cloaked’s platform is built on zero-knowledge, end-to-end encrypted architecture. It generates disposable phone numbers and email addresses with two-way routing. Call Guard screens calls in real time for spam and fraud using AI. The company also runs automated data broker removal and dark web monitoring. A new enterprise product, Cloaked Enterprise, targets the human attack surface inside corporate environments. ### Use of Proceeds and Vision Funds will go toward expanding AI protection across text, email, and browsing, scaling international operations in both consumer and enterprise segments, and growing the team. Cloaked Enterprise is expected to become the primary revenue driver. ### Market Context The jump from a $25M Series A to a $375M Series B reflects how quickly AI-driven threats have reshaped the privacy market. As deepfakes and hyper-personalized scams become trivially cheap to produce, the demand for identity masking at the consumer and enterprise level has grown from a nice-to-have into a budget line item. ## 2. Doss Raises $55M For AI-Native Inventory Management ### Deal Overview - **Stage:** Series B - **Sector:** SaaS / Supply Chain - **Geography:** United States - **Round Size:** $55 million - **Lead Investors:** Madrona and Premji Invest (co-led) ### Investor Profile Madrona and Premji Invest co-led the round. Greyhound, Commerce Ventures, Intuit Ventures, and General Catalyst also participated. The investor mix reflects both enterprise SaaS conviction (Madrona) and global supply chain interest (Premji Invest). ### Company and Leadership [Doss](https://www.doss.com) is building an AI-native Operations Cloud for inventory-based businesses. The platform integrates with both legacy and emerging ERP systems, meeting companies where their data already lives. ### Problem and Opportunity Inventory-based businesses still run on ERP systems that were designed decades ago. The data is trapped, the interfaces are slow, and the reporting is always a step behind reality. Teams spend hours stitching together spreadsheets to answer questions their ERP should handle natively. ### Product and Technology Doss sits on top of existing ERP infrastructure and applies AI to inventory planning, demand forecasting, and operational workflows. The plug-in approach means companies don’t need to rip and replace their existing systems. ### Use of Proceeds and Vision The $55 million will fund platform development, team expansion, and deeper ERP integrations. Doss aims to become the default intelligence layer for any company managing physical inventory. ### Market Context ERP modernization is a multi-billion dollar category, but most approaches require painful migrations. Doss’s overlay strategy sidesteps that friction entirely, which likely explains the strong investor interest. ## 3. Shepherd Raises $42M For AI-Native Commercial Insurance ### Deal Overview - **Stage:** Series B - **Sector:** Fintech / Insurtech - **Geography:** San Francisco, California - **Round Size:** $42 million - **Total Raised:** $67 million ### Investor Profile Intact Private Capital led the round, joined by returning investors Spark Capital and Costanoa Ventures. Intact is one of Canada’s largest property and casualty insurers, making this a deeply strategic bet rather than a pure financial one. ### Company and Leadership [Shepherd](https://www.shepherd.insure) was founded in 2020 by Justin Levine (CEO) and Mo Mahallay, and came through Y Combinator. The company has issued over 1,500 policies representing more than $400 billion in insured value. ### Problem and Opportunity Hyperscalers like Microsoft, Google, Amazon, and Meta have committed over $300 billion in data center capex for 2025-2026. Each of those facilities needs commercial construction insurance. Traditional carriers don’t have the data or technical capacity to price policies for novel structures involving liquid cooling, high-voltage power systems, and specialized HVAC. ### Product and Technology Shepherd’s AI underwriting engine prices complex policies in minutes instead of weeks. It pulls real-time data from construction platforms like Procore, Autodesk, OpenSpace, and DroneDeploy, ingesting live safety scores and inspection data. The company’s roadmap points toward fully autonomous underwriting. ### Use of Proceeds and Vision The funds will support expansion into renewable energy and power infrastructure insurance, platform development toward autonomous underwriting, and team growth. Shepherd is positioning itself as the insurer of the physical layer of the AI economy. ### Market Context Construction insurance for data centers alone is estimated at $48 billion. Shepherd’s proprietary dataset from $400B+ in insured projects gives it a structural advantage that traditional carriers would need years to replicate. ## 4. Paraform Raises $40M For Agentic Recruiting ### Deal Overview - **Stage:** Series B - **Sector:** SaaS / HR Tech - **Geography:** United States - **Round Size:** $40 million - **Total Raised:** $65 million ### Investor Profile Scale Venture Partners led the round with participation from Felicis, A Capital, and Liquid 2 Ventures. Scale’s enterprise SaaS focus aligns with Paraform’s push into larger organizations. ### Company and Leadership [Paraform](https://www.paraform.com) has built an agentic hiring platform that connects companies with a decentralized network of specialized recruiters. Over 1,000 companies have used the platform to date. ### Problem and Opportunity Recruiting remains one of the most expensive and inefficient functions in any company. Internal teams are stretched thin, agency fees run 20-25% of first-year salary, and most hiring pipelines still depend on manual sourcing and screening. ### Product and Technology Paraform’s marketplace connects companies with niche recruiters who specialize in specific roles, industries, or geographies. AI agents handle matching, coordination, and workflow management, reducing the friction that makes traditional recruiting agencies expensive. ### Use of Proceeds and Vision The capital will scale the recruiter network, deepen AI capabilities, and expand into enterprise accounts. Paraform’s bet is that recruiting will shift from a services model to a platform model powered by AI agents and specialized human expertise. ### Market Context The global recruitment market exceeds $400 billion annually. Paraform’s agent-first approach is well-timed as companies look to cut hiring costs without sacrificing quality. ## 5. Spade Raises $40M For Financial Transaction Data Enrichment ### Deal Overview - **Stage:** Series B - **Sector:** Fintech / Data Infrastructure - **Geography:** United States - **Round Size:** $40 million - **Total Raised:** $61 million ### Investor Profile Investor details for this round were not publicly disclosed. ### Company and Leadership [Spade](https://www.spade.com) is a data and AI platform that enriches financial transaction data for institutions. The $40M round brings total funding to $61 million. ### Problem and Opportunity Raw transaction data from card networks and banks is messy. Merchant names are garbled, categories are wrong, and useful metadata is missing. Financial institutions need clean, enriched data for everything from fraud detection to personalized product offers. ### Product and Technology Spade’s platform takes raw transaction records and returns structured, enriched data including accurate merchant identification, categorization, and location data. This sits at the infrastructure layer of fintech, powering applications built by banks, neobanks, and financial software companies. ### Use of Proceeds and Vision With $61M in total funding, Spade is scaling its data enrichment capabilities and expanding its institutional client base. ### Market Context Transaction data enrichment is a growing category as financial institutions invest in personalization and fraud prevention. Clean data is the foundation for both, making Spade’s infrastructure play increasingly valuable. ## 6. Adonis Raises $40M For AI Healthcare Revenue Cycle Management ### Deal Overview - **Stage:** Series C - **Sector:** Healthtech - **Geography:** United States - **Round Size:** $40 million - **Total Raised:** $95 million ### Investor Profile Quadrille Capital participated in the round. At $95M in total funding, the Series C signals growing confidence in Adonis’s position in healthcare revenue cycle management. ### Company and Leadership [Adonis](https://www.adonis.com) has built an AI orchestration platform for healthcare revenue cycle management, the complex process by which healthcare providers get paid. ### Problem and Opportunity Revenue cycle management in healthcare is a $150B+ industry built on outdated workflows. Claim denials, coding errors, and slow reimbursements drain billions from health systems every year. Most of this work is still done manually or with first-generation automation that requires constant human oversight. ### Product and Technology Adonis uses AI to orchestrate the full revenue cycle, from patient intake through claim submission and payment reconciliation. The platform automates tasks that previously required teams of billing specialists. ### Use of Proceeds and Vision The Series C funds will expand Adonis’s platform capabilities and accelerate enterprise adoption across health systems. ### Market Context Healthcare RCM is one of the largest addressable markets in health IT. With payer complexity increasing and staffing shortages persisting, AI-driven automation is shifting from optional to essential for health system financial viability. ## 7. SPARK Microsystems Raises $17M Series B ### Deal Overview - **Stage:** Series B - **Sector:** Deep Tech / Semiconductors - **Geography:** United States - **Round Size:** $17 million ### Investor Profile Investor details for this round were not publicly disclosed. ### Company and Leadership SPARK Microsystems is a deep tech company operating in the microsystems and semiconductor space. The $17M Series B was announced March 23, 2026. ### Problem and Opportunity Wireless connectivity at the chip level still faces tradeoffs between power consumption, latency, and data throughput. As devices get smaller and more power-constrained, those tradeoffs become harder to manage with existing radio architectures. ### Product and Technology SPARK Microsystems develops next-generation wireless semiconductor technology targeting ultra-low-power, low-latency applications. The company’s approach addresses use cases where Bluetooth and Wi-Fi fall short on power efficiency or response time. ### Use of Proceeds and Vision The $17 million will advance product development and commercialization of SPARK’s microsystems technology. ### Market Context The wireless semiconductor market continues to grow as IoT, wearables, and industrial applications demand better power-performance tradeoffs. Deep tech hardware plays like SPARK require patient capital but can capture durable competitive positions once products reach production. ## Lessons For Founders - **Sit at the intersection, not inside the box.** Cloaked (privacy + enterprise security + AI threat mitigation), Shepherd (insurance + construction tech + AI infrastructure), and Doss (AI + legacy ERP + inventory) all raised large rounds by straddling categories. Single-category companies competed for attention; cross-category companies attracted outsized checks. - **Data moats compound when you’re the first to structure messy domains.** Shepherd’s 1,500+ policies on AI infrastructure builds, Spade’s enriched transaction corpus, and Cloaked’s encrypted identity graph all share a pattern: they went first into an unstructured data domain and turned raw chaos into proprietary structured assets. - **Overlay beats rip-and-replace.** Doss plugs into existing ERPs. Shepherd integrates with Procore and Autodesk. Paraform works alongside internal recruiting teams. None of these companies asked customers to abandon existing systems. That’s not a coincidence. At Series B, buyers want results without migration risk. - **AI infrastructure spending creates second-order opportunities.** Shepherd insures the data centers. Doss manages the inventory flowing into them. The $300B+ in hyperscaler capex isn’t just funding compute companies. It’s creating demand across insurance, logistics, energy, and construction. Look for the second-order effects. - **Enterprise pivots can unlock step-function growth.** Cloaked’s jump from a $25M Series A to a $375M Series B coincided with its launch of Cloaked Enterprise. Consumer traction got them started, but the enterprise angle is what attracted growth-stage capital.