It's a combination of the two reasons cited by others here. 1. They may have revenue which is adding to total cash pile; and 2. They may have taken on addition

It's a combination of the two reasons cited by others here. 1. They may have revenue which is adding to total cash pile; and 2. They may have taken on additional debt Maybe obvious, but probably worth repeating is that raising capital does not raise debt for your company (i.e. you're selling off a piece of your company, not taking on debt which you have to repay). I'm assuming that the "Funds raised" column is the amount they've taken in venture funding, and not debt. If it does include debt, you can ignore point #2.