Cathie Wood's funds endured a brutal beating during the 2022 bear market. The sell-off was so steep that Ark Invest's flagship Ark Innovation ETF is still down by approximately three-quarters from its 2021 high.

But despite that huge drop, inflows into Ark Invest continue, and Wood and her team keep buying stocks. Three recent Cathie Wood investments that should catch the attention of tech investors are Coinbase (COIN 1.52%), Roku (ROKU -1.83%), and Unity Software (U -0.36%).

1. Coinbase

Wood has long held a position in Bitcoin and believes it could be worth $1.5 million by 2030. Given that bullishness, it should surprise few that she also invests in the U.S.' leading cryptocurrency exchange, Coinbase.

Investors can buy Bitcoin from numerous sources. Still, Coinbase stands out by offering a wider variety of cryptocurrencies than most of its competitors. Moreover, it has emphasized security and adherence to regulations. Between Coinbase's integrity and name recognition, it had been growing at a rapid pace.

However, in 2022, revenue tumbled by almost 60% to $3.2 billion as falling cryptocurrency prices diminished interest in trading. To make matters worse, operating expenses grew 24% over that period, and investment-related losses rose more than 13-fold. Hence, Coinbase lost $2.6 billion during the year, compared to a $3.6 billion profit in 2021.

Still, Bitcoin and other cryptocurrencies have started to rebound, an indication that Coinbase's financials should improve in 2023. Investors seem to think so, anyway: The stock has more than doubled from December lows, even though it's fallen more than 50% over the last year. That surge increased its price-to-sales (P/S) ratio to around 5, giving Coinbase shares an attractive valuation as the cryptocurrency industry begins a recovery.

2. Roku

Roku leads the streaming industry in the U.S., Canada, and Mexico. Thanks to its first-mover status in North America, it has gained widespread traction, outselling advertising and television heavyweights such as Alphabet and Amazon in the U.S.

Furthermore, Roku has built a platform specifically designed to bring content providers, audiences, and advertisers together. With its data-gathering capabilities, advertisers can better tailor ad placement to reach their desired audiences.

Although the tech bear market and an advertising slump hammered its stock, Roku's audience grew 16% to 70 million in 2022. Its ease of use and neutrality among providers continue to draw users. And interestingly, The Roku Channel has not threatened that neutral perception even though it grew engagement by 85% during 2022.

Admittedly, Roku's revenue of $3.1 billion rose only 13% after surging 55% in 2021. Also, rapid increases in costs and expenses led to a net loss of $498 million, versus a profit of $242 million in 2021.

Still, a P/S ratio of 3 seems to factor in its current troubles, especially considering its record sales multiple of 33 in 2021. As the move toward streaming continues, the company should have plenty of room to run as more ad spending shifts from traditional TV to streaming platforms like Roku.

3. Unity Software

At first glance, Unity may look like it is past its prime. Its primary industry -- gaming -- has gone into a slump now that the lockdowns ended and gamers spend more time offline. Moreover, its software platform made it a candidate to become a building block of the metaverse. But since the public lost interest in that online world, Unity stock has suffered further.

However, the shares appear poised for a comeback in other respects. Unity completed its merger with app developer ironSource, giving it tools that could make gaming development a more interactive process. And despite its struggles in 2022, growth continued, with revenue climbing 25% year over year to $1.4 billion.

Admittedly, rising costs and expenses increased losses to $919 million versus $533 million in 2021. Still, from a non-GAAP standpoint, Unity earned $13 million in Q4 after backing out expenses such as stock-based compensation. Also, the company forecasts revenue of $2.05 billion to $2.2 billion in 2023, an increase of 53% at the midpoint, indicating a significant recovery in its growth rate.

Unity stock has fallen more than 80% from its 2021 high. Still, with a P/S ratio of less than 7, it may be at a valuation that could attract buyers once investors see revenue growth surging higher.