Sourcery (1/11-1/15)
Checkout.com, MX, Blend, Modern Treasury, Neat Capital, Relay Payments, Brace, Nayya, Watchtower, Komodo Health, Alula, Cockroach Labs, Webflow, Workato, airslate, Descript, Jellyfish, Carbyne...
Last Week (1/11-1/15):
Live from Miami 🌴… relevant deals include the 60+ deals across stages below.
I've categorized the deals below into four categories, Fintech,Care, Future of Work, and Sustainability, and ordered from later-stage rounds to early-stage rounds. Highlighted deals include Checkout.com, MX, Blend, Modern Treasury, Neat Capital, Relay Payments, Brace, Nayya, Watchtower, Komodo Health, Alula, Cockroach Labs, Webflow, Workato, airslate, Descript, Jellyfish, Carbyne, JumpCloud, Weez, Mosaic, Stacklet, Drata, Human AI. Kount, Nuvia, Fitbit. Affirm, Poshmark, ON24, Petco. Talkspace.
Final numbers on Venture Capital at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Checkout.com, a London-based online payments platform, raised $450 million in Series C funding at a $15 billion valuation. Tiger Global led, and was joined by Greenoaks Capital and return backers like Coatue, Insight Partners. DST Global, Blossom Capital and GIC. http://axios.link/dS5x
- MX, a Silicon Slopes, Ut.-based data finance company, raised $300 million in a Series C funding. TPG led the round with $150 million and was joined by investors including CapitalG, Geodesic Capital, Greycroft, Cota Capital, Canapi Ventures, Digital Garage, Point72 Ventures, and Pelion Venture Partners.
- Blend, a San Francisco-based startup with a lending paperwork platform, raised $300 million in Series G funding. Coatue and Tiger Global led the round, valuing it at $3.3 billion.
- Enfusion, an investment management SaaS platform, raised $150 million from Iconiq Growth. www.enfusion.com
- Modern Treasury, a San Francisco-based provider of payment operations software, raised $38 million in Series B funding. Altimeter Capital led, and was joined by return backers Benchmark and YC. www.moderntreasury.com
- Reggora, a Boston-based real estate appraisal software company, raised $30 million in Series B funding. Spark Capital led the round and was joined by investors including Boston Seed and 1984. New investors included Shine Capital and Greenpoint Partners.
- Neat Capital, a Boulder, Colo.-based home financing platform, raised $22.5 million in Series B funding. Left Lane Ventures led, and was joined by return backer American Family Ventures. http://axios.link/sz0x
- Brace, a Los Angeles-based digital mortgage servicing platform, raised $15.7 million in Series B funding. Canvas Ventures led, and was joined by insiders Point72 Ventures and Crosslink Capital. http://axios.link/Juo6
- Rho Business Banking, a New York-based banking platform, raised $15 million in Series A funding. M13 Ventures led the round and was joined by investors including Torch Capital and Inspired Capital.
- Relay Payments, an Atlanta-based payments startup. Addition’s Lee Fixel led the round and was joined by investors including Ribbit Capital and Spark Capital.
- RecVue, a Palo Alto, Calif.-based billing software maker, raised $13 million in Series A funding. Cota Capital led the round and was joined by investors including Epic Ventures and Long Light Capital.
- X1 Card, a San Francisco-based maker of a credit card, raised $12 million. Spark Capital led the round and was joined by investors including Jared Leto, Aaron Levie, Jeremy Stoppelman, Max Levchin,and Ali Rowghani. Read more.
- Nayya, a New York-based insurance benefits company, raised $11 million in Series A. Felicis Ventures led the round and was joined by investors including Social Leverage, Guardian Life, Cameron Ventures, and Unum Business Ventures.
- Arca, a Los Angeles-based asset management firm focused on investing in digital assets, raised $10 million in Series A funding. RRE Ventures led the round.
- WatchTower, a Chicago-based company focused on insurance paperwork now known as ThreeFlow, raised $8 million. Emergence Capital led the round and was joined by investors including Equal Ventures and First Trust Capital Partners.
- Lex, a commercial real estate securities marketplace, raised $6 million from Greycroft, Ric Clark, Callahan Family Investments, Marty Edelman, Kawawa Capital, Inertia Ventures, Modern Venture Partners, Subversive Capital, Two Lanterns Venture Partners, Gaingels, and RAJ Capital and DeAndre Hopkins.http://axios.link/Ua5O
- Gig Wage, Dallas-based payroll platform, raised an additional $2.5 million in extended Series A funding. The Foundry Group led the round.
- Vesica Technologies, a Los Angeles-based financial data company, raised $2.1 million in seed funding. Investors included Mercury Digital Assets and Miami International Holdings.
. . .
Care:
- Komodo Health, a San Francisco-based health data company, raised $44 million in Series D funding led by ICONIQ Growth. Previous investors Andreessen Horowitz, Oak HC/FT, IA Ventures, Felicis Ventures, and McKesson Ventures also participated in the round.
- Lumiata, a San Mateo, Calif.-based healthcare A.I. company, raised $14 million in Series B funding. Defy.vc and AllegisNL Capital led the round and were joined by Khosla Ventures and Blue Venture Fund.
- Alula, a New York-based digital platform for cancer patients and caregivers, raised $2.2 million in seed funding. Andy Dunn led the round and was joined by Metrodora Ventures, BBG Ventures, Thrive Capital, Village Global, and Homebrew.
- Muniq, a Los Angeles, Calif.-based maker of weight loss shakes, raised $8.2 million in Series A funding. Investors included Alpha Edison, Acre Venture Partners, former NBA all-star Baron Davis, and SimplyProtein founder Cathy Richards.
- Lora DiCarlo, a Bend, Ore.-based sextech company, raised $3.5 million. Republic Labs led the round and was joined by investors including Romulus Capital, VU fund, River Bend Capital, Gaingels, and actress Cara Delevingne.
- Hello Ralphie, a New York-based veterinary telemedicine company, raised $1 million in seed funding. Investors included HearstLab and WPMC Fund.
. . .
Future of Work:
- Cockroach Labs, a New York-based maker of a cloud database, raised $160 million in Series E funding, valuing it at $2 billion. Altimeter Capital led the round and was joined by investors including Greenoaks,Lone Pine, Benchmark, Bond, FirstMark, GV, Index Ventures, and Tiger Global.
- Webflow, a San Francisco-based maker of a way to launch websites, raised $140 million in Series B funding. Accel and Silversmith led the round and was joined by investors including CapitalG.
- Workato, a Mountain View, Calif.-based automation company, raised $110 million in Series D funding. Altimeter Capital led the round and was joined by investors including Insight Partners.
- Harness, a San Francisco-based software delivery platform, raised $85 million in Series C funding at a $1.7 billion valuation. Alkeon Capital led, and was joined by Battery Ventures, Citi Ventures, Norwest Venture Partners, Sorenson Capital, Thomvest Ventures and insiders Menlo Ventures, IVP and Unusual Ventures. www.harness.io
- M-Files, a Plano, Tx.-based information management company, raised $80 million (€67 million). Bregal Milestone led the round and was joined by investors including Partech, Tesi, and Draper Esprit.
- Premise Data, a San Francisco-based data and analysis company, raised $65 million in Series E funding. WestCap Group led the round and was joined by investors including NightDragon, Winslow Capital, DRW, and Vista Credit Partners, the credit-lending arm of Vista Equity Partners.
- You & Mr. Jones, a New York-based marketing and branding firm, raised an additional $60 million in Series B funding. Merian Chrysalis was the investor, valuing it at $1.4 billion. Read more.
- Vdoo, a Tel Aviv-based product security company, raised $57 million Series B funding. Investors include Qumra Capital and Verizon Ventures.
- Jobber, a Canadian maker of home service management software, raised $60 million. Summit Partners led the round and was joined by investors including OMERS Ventures, Version One Ventures, and Tech Pioneers Fund.
- Landing, a membership-based flexible living startup, raised $45 million in Series B funding. Foundry Group led, and was joined by Greycroft and Maveron. It also secured a $55 million debt facility. www.hellolanding.com
- airSlate, a Boston-based business automation company, raised an additional $40 million. Investors included Morgan Stanley Expansion Capital, General Catalyst, and HighSage Ventures.
- Employee Navigator, a Bethesda, Md.-based benefits admin and HR software provider, raised $34 million from JMI Equity. www.employeenavigator.com
- Jellyfish, a Boston-based platform for engineers, raised $31.5 million in Series B funding. Insight Partners led the round and was joined by investors including Accel and Wing Venture Capital.
- Descript, a San Francisco-based maker of video and audio editing tools, raised $30 million in Series B funding. Spark Capital led the round and was joined by investors including Andreessen Horowitz and Redpoint Ventures.Read more.
- Gtmhub, a Denver-based provider of OKR-focused business orchestration software, raised $30 million in Series B funding. Insight Partners led, and was joined by Singular and return backers CRV and LaunchHub Ventures. http://axios.link/vyHa
- Bold Commerce, an Austin-based e-commerce technology company, raised $27 million ($35 million CAD) in Series B funding. OMERS Ventures led the round and was joined by investors including Whitecap Venture Partners and Round 13 Capital.
- Carbyne, a New York-based maker of emergency communication technology, raised $25 million in Series B1 funding. Hanaco Ventures and ELSTED Capital Partners led the round and were joined by former CIA Director General David Petraeus, Founders Fund, and FinTLV.
- JumpCloud, Denver, Colo.-based identity access company, raised another $25 million to its $100 million in Series E funding. BlackRock led the round and was joined by investors including H.I.G. Growth Partners, OurCrowd, and General Atlantic.
- Weez, a London-based supermarket delivery company, raised $20 million in Series A funding. Left Lane Capital led the round and was joined by investors including DN Capital, Heartcore Capital, and Groupon founder Chris Muhr. Read more.
- DecisionLink, an Atlanta-based company focused on sales, raised $18.5 million in Series A funding. Accel led the round.
- Mosaic, an Encinitas, Calif.-based business analytics software maker, raised $18.5 million in Series A funding. General Catalyst led the round.
- Stacklet, an Arlington, Va.-based open-source cloud governance startup, raised $18 million in Series A funding. Addition led, and was joined by Foundation Capital. http://axios.link/cSlV
- Nacelle, a Los Angeles-based e-commerce infrastructure startup, raised $18 million in Series A funding. Inovia led the round and was joined by investors including Accomplice, Index Ventures, High Alpha, Silas Capital, and Lerer Hippeau. Read more.
- Tradeswell, a Baltimore, Md.-based maker of an e-commerce platform, raised $15.5 million in Series A funding. SignalFire led the round and was joined by investors including Construct Capital, Allen & Company, and The Emerson Group.
- Flockjay, a San Francisco, Calif.-based training academy for tech sales people, raised $11 million in Series A funding. e.ventures led the round and was joined by investors including Lightspeed, Salesforce Ventures, Impact America, Cleo Capital, actress Gabrielle Union, Coatue, Serena Williams, and Will Smith.
- Snowplow, a London-based data management platform, raised $10 million in Series A2 funding. Atlantic Bridge led the round and was joined by investors including MMC Ventures.
- Outer, a Santa Monica, Calif.-based direct-to-consumer outdoor furniture brand, raised $10.5 million in Series A funding. Sequoia Capital China led the round.
- Fable, a Palo Alto, Calif.-based social media app for book lovers founded by former NIO CEO Padmasree Warrior, raised $7.3 million in seed funding. Redpoint Ventures led the round. Read more.
- Slim.ai, a Boxborough, Mass.-based software developer platform, raised $6.6 million in seed funding. Investors include Boldstart Ventures, Decibel Partners, FXP Ventures, and TechAviv Founder Partners.
- VComply, a Palo Alto, Calif.-based governance and risk software maker, raised $6 million om Series A in funding from Counterpart Ventures and Accel.
- Openbase, a Walnut, Calif.-based platform for helping developers find open source components, raised $3.7 million in seed funding. Zeev Ventures led, and was joined by YC. http://axios.link/vK44
- Sprockets, a Charleston, S.C.-based software maker for hourly workforces, raised $3.4 million. Lytical Ventures led the round.
- Drata, a San Diego-based compliance and security automation company, raised $3.2 million in seed funding. Cowboy Ventures led the round and was joined by investors including Leaders Fund, and SV Angel.
- Human AI, a San Diego, Calif.-based company creating personalized A.I., raised $3.2 million. Differential VC led the round and was joined by investors including Village Global VC, Good Friends VC, Beni VC and Keshif Ventures. Read more.
- Capsule, a video Q&A platform for brands, raised $2 million in seed funding. Array Ventures led, and was joined by Bloomberg Beta. http://axios.link/0dj4
. . .
Sustainability:
- Gro Intelligence, a New York-based agricultural data company, raised $85 million in Series B funding. Intel Capital and Africa Internet Ventures (a strategic partnership between TPG Growth and EchoVC) led the round and were joined by the the family offices of Ronald Lauder and Eric Zinterhofer.
- Solstice Power Technologies, a Cambridge, Mass.-based solar power tech company, raised $3.1 million. Total Carbon Neutrality Ventures led the round and was joined by investors including American Family Insurance Institute for Corporate and Social Impact.
Acquisitions:
- Equifax (NYSE: EFX) agreed to buy Kount, a Boise, Idaho-based provider of fraud prevention and digital ID solutions, from CVC Capital Partners for $640 million. http://axios.link/Mojs
- Entrust acquired HyTrust, a Mountainview, Calif.-based data encryption company. Investors of HyTrust included Advance Venture Partners, Sway Ventures, and Vanedge Capital. Financial terms weren't disclosed.
- PowerPlant Ventures acquired ZICO coconut water from The Coca-Cola Company (NYSE: KO). Financial terms weren't disclosed.
- Qualcomm (Nasdaq: QCOM) agreed to buy Santa Clara, Calif.-based high-performance computing startup Nuvia for around $1.4 billion. Nuvia had raised around $240 million from firms like WRVI Capital, Mithril Capital Dell, Atlantic Bridger Capital, Blackrock, Fidelity, Redline Capital, Temasek and Capricorn Investment Group. http://axios.link/nXGR
- Alphabet, the parent company of Google, completed its $2.1 billion acquisition of fitness tracker company Fitbit. http://axios.link/JbkL
. . .
IPOs:
- Affirm, a San Francisco-based provider of personal installment loans for online purchases, raised $1.2 billion in its IPO. The company priced at $49 per share (well above upwardly revised range), for a fully diluted market value of $14.8 billion, and will list on the Nasdaq (AFRM). It had raised around $1.6 billion from such firms as Khosla Ventures, Founders Fund, Lightspeed Venture Partners, Spark Capital, Thrive Capital, Fidelity, Wellington Management, GIC, Durable Capital Partners, Baillie Gifford, GGV Capital, Battery Ventures, Andreessen Horowitz and Ribbit Capital.
- Petco Health and Wellness Company, the San Diego, Calif.-based pet goods retailer, raised $864 million. CVC Capital Partners and the Canadian Pension Plan Investment Board back the company.
- Poshmark, a P2P used clothing marketplace, raised $277 million in its IPO. The company priced at $42 per share (above $35–$39 range), for an initial market cap of $3.1 billion. It will list on the Nasdaq (POSH), and had raised around $160 million in VC funding from Mayfield (26.5% pre-IPO stake), Menlo Ventures (15.8%), Inventus Capital (10.4%), GGV Capital (7.9%), Uncork Capital, Temasek, NFX, and Union Grove Ventures. http://axios.link/vtRE
- Home Point, an Ann Arbor, Mich.-based mortgage lender owned by Stone Point Capital, filed for a $100 million IPO. It plans to list on the Nasdaq (HMPT) and reports $422 million of net income on $922 million in revenue for the first nine months of 2020. http://axios.link/CbeT
-ON24, a San Francisco-based digital experience platform for customer engagement, filed for a $100 million IPO. It plans to list on the NYSE (ONTF) and reports $11 million of net income on $104 million in revenue for the first nine months of 2020. The company raised $44 million from firms like USVP (20% pre-IPO stake), Canaan Partners (16.3%), Goldman Sachs (14.5%) and Rho Ventures (10.3%). http://axios.link/FOuC
- LoanDepot, a Foothill Ranch, Calif.-based nonbank mortgage lender backed by Parthenon Capital, filed for an IPO that Renaissance Capital estimates could raise up to $1.5 billion. It plans to list on the NYSE (LDI) and reports $1.47 billion in net income on over $3 billion in revenue for the first nine months of 2020. http://axios.link/3WbC
. . .
SPACs:
- Talkspace, a New York-based online therapy app, will go public via merger with Hudson Executive Investment Corp., SPAC. The deal would value it at around $1.4 billion. Investors including Federated Hermes Kaufmann Funds, Jennison Associates, Woodline Partners, and Deerfield have also committed $300 million to a SPAC.
- Proterra, a Burlingame, Calif.-based electric bus-maker, agreed to go public via a reverse merger with ArcLight Clean Transition (Nasdaq: ACTC), a SPAC formed by energy-focused private equity firm ArcLight. The deal valued Proterra at around $1.6 billion, including a $415 million PIPE. Proterra had raised over $700 million from firms like Kleiner Perkins, Cowen, Soros Fund Management, Generation Investment Management and Broadscale Group. http://axios.link/OPrn
-LucidMotors, a Newark, Calif.-based electric car maker, is in talks to go public with one of Michael Klein’s SPACs at a valuation of up to $15 billion, per Bloomberg. Lucid has raised over $1.1 billion from backers like Saudi Arabia's Public Investment Fund. http://axios.link/fkO6
- Bakkt, a Bitcoin futures exchange and digital asset wallet formed by the New York Stock Exchange's parent company, agreed yesterday to go public via a SPAC at a $2.1 billion valuation.
Funds:
- March Capital, an enterprise software-focused VC firm, raised $450 million for its third fund. www.marchcp.com
Final Numbers: U.S. venture capital
