Morning VC Brief丨2025.11.21

Week47 Highlights丨Suno, Luma AI, Function Health, Doppel, Numeric, Method Security, Sphere, OpenHands

Author

eric gu
November 21, 2025

Morning VC Brief is an expert daily curation of tech and venture news. Feel free to forward; the sign-up is here

Table of Contents

01. Venture News

1/ AI Music Creation Platform Suno Raised $250M Series C at $2.45B

  • Product: AI-powered music generation platform that allows anyone to create songs through text prompts, offering consumer subscriptions and commercial creator tools

  • Highlight: $200M annual revenue; grew largely through word-of-mouth and social sharing

  • Investors: Menlo Ventures (Lead), NVentures, Lightspeed, Matrix

  • Source

2/ Multimodal AI Startup Luma AI Raised $900M Series C at $4B+

  • Product: AI platform building multimodal AGI with flagship video reasoning model Ray3, generating realistic videos, images and audio from text/visual prompts; embedded in Adobe products

  • Highlight: Ray3 benchmarks higher than OpenAI's Sora 2 and comparable to Google's Veo 3; team invented foundational technologies like NeRF and DDIM

  • Investor: Humain/Saudi PIF (Lead), AMD Ventures, Andreessen Horowitz, Amplify Partners, Matrix Partners

  • Source

3/ Preventive Health Platform Function Health Raised $298M Series B at $2.5B

  • Product: Regular lab testing service that consolidates health data (labs, wearables, EHRs) and provides personalized insights through AI chatbot powered by doctor-trained "Medical Intelligence" generative AI model

  • Highlight: Completed 50M+ lab tests since 2023; 75 U.S. locations expanding to nearly 200 by year-end

  • Investor: Redpoint Ventures (Lead), a16z, Battery Ventures, NFDG

  • Source

4/ AI-Powered Cybersecurity Platform Doppel Raised $70M Series C at $600M+

  • Product: Social Engineering Defense (SED) platform with Human Risk Management (HRM) product featuring multi-channel vibe phishing simulation and AI-generated Security Awareness Training

  • Highlights: Viral adoption among Fortune 500 companies across multiple industries; 93% reduction in exposed executive PII for clients

  • Investor: Bessemer Venture Partners (Lead), Andreessen Horowitz, South Park Commons

  • Source

5/ Financial Automation Platform Numeric Raised $51M Series B

  • Product: Close automation platform that unifies close management, reporting, and cash management for complex accounting teams

  • Highlight: Used by Wealthfront, Brex, OpenAI, and Plaid; Brex streamlined days-long cash reconciliation to hours; expanding beyond close management to build unified financial data layer for enterprises

  • Investor: IVP (Lead), Menlo Ventures, Founders Fund

  • Source

6/ Autonomous Cybersecurity Platform Method Security Raised $26M Seed&Series A

  • Product: Full-spectrum autonomous cyber platform fusing offensive and defensive capabilities; creates digital twin integrating data sources to map resources, configurations, and exposures

  • Highlight: Dual-use company serving U.S. Department of Defense, Federal Government, and Fortune 500

  • Investor: Andreessen Horowitz (Lead), General Catalyst (Lead), Blackstone Innovations Investments

  • Source

7/ AI-Native Cross-Border Compliance Platform Sphere Raised $21M Series A

  • Product: AI-powered cross-border compliance engine automating sales tax, VAT, and GST obligations; features proprietary Tax Review and Assessment Model (TRAM) that codifies global tax laws and direct integrations with 100+ tax authorities for end-to-end automation

  • Highlight: Customers include Lovable, Replit, Windsurf, Deel, Eleven Labs, Heygen; 30%+ average monthly revenue growth since emerging from stealth in December 2024

  • Investor: Andreessen Horowitz (Lead), Y Combinator, Felicis Ventures

  • Source

8/ Open-Source AI Coding Agent Platform OpenHands Raised $18.8M Series A

  • Product: Open, model-agnostic platform for autonomous software development with cloud coding agents; runs in isolated Docker sandboxes with enterprise controls

  • Highlight: 65,000+ GitHub stars, 7,000 forks, 3M+ downloads; used by engineers at AMD, Apple, Google, Amazon, Netflix, TikTok, NVIDIA, Mastercard, VMware; customers achieve 50% reduction in maintenance backlogs and cut vulnerability resolution from days to minutes

  • Investor: Madrona (Lead), Menlo Ventures, Pillar VC, Obvious Ventures

  • Source