Sourcery (11/1-11/5)
Honeybook, Chipper Cash, Moonfare, Laika, Checkbook, Afterparty, Papa, Notable, Medallion, Vivoo, Ombre, Treasure Data, Everlaw, Mythical Games, OctoML, Fountain, Omni Creator Products, Martie...
Last Week (11/1-11/5):
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 Honeybook, Chipper Cash, Moonfare, Valon, Laika, Checkbook, Beta Finance, RightRev, Quartr, Doorsey, Afterparty, Papa, Notable, Medallion, Spartan Radar, Huckleberry, Vivoo, Ombre, Zeit Medical, Treasure Data, Everlaw, When I Work, Cloudbeds, Mythical Games, OctoML, Fountain, Yellowbrick Data, PubNub, Cover, Lever, Gather, Mosaic, Axios, Babylist, Abound, FingerprintJS, Apollo.io, Whimsical, Contra, Faraway, Padsplit, Velocity, Hone, Merge API, Propelo, WhyLabs, Ethyca, MilkRun, Omni Creator Products, Marker Learning, Martie, Helion Energy, Loam Bio, Sofar Ocean Technologies, Evernu, Yotta Energy, Sway, Greenwork; Command E, TrueHome, BodyArmor, Agara, Sumday, Betterfin, SiaSearch, Moonbug; AllBirds, Arhaus, NerdWallet
Final numbers on U.S. IPO Performance at the bottom.
. . .
P.S. We’re looking for a Growth Intern here at Sourcery. If you’re interested please apply by this link !!
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- HoneyBook, a San Francisco-based maker of client flow and cash flow management software, raised $250 million in Series E funding. Tiger Global Management led the round and was joined by investors including Durable Capital Partners, Norwest Venture Partners, Citi Ventures, and OurCrowd.
- Plate IQ, a San Francisco-based restaurant and hospitality accounts payable company, raised $160 million in Series B funding. FTV Capital led the round.
- Chipper Cash, an African cross-border payments company, raised $150 million in Series C extension funding. FTX led the round.
- Moonfare, a German private equity investment platform for individuals, raised $125 million in Series C funding. Insight Partners led, and was joined by Fidelity. http://axios.link/xuyL
- Prepaid Technologies, a Birmingham, Ala.-based provider of prepaid digital payment solutions, raised $96 million. Edison Partners and StepStone Group led the round and were joined by investors including Stifel Venture Bank, a Division of Stifel Bank, and Top Tier Capital Partners.
- AscendEX, a Singapore-based crypto trading platform, raised $50 million in Series B funding. Polychain Capital and Hack VC led the round and were joined by investors including Jump Capital and Alameda Research.
- Valon, a New York City-based residential mortgage servicer, raised $43.9 million. Investors include Starwood Capital Group, Freedom Mortgage, Human Capital Management, CEO of SoftBank Group International Marcelo Claure, Andreessen Horowitz, New Residential Investment Corporation, Fortress Investment Group, and 166 2nd.
- Laika, a New York City-based compliance startup, raised $35 million in Series B funding. J.P. Morgan Growth Equity Partners led the round and was joined by investors including PayPal Ventures, Bain Capital Ventures, Canapi, Dashfund, Nyca, and ThirdPrime.
- First AML, a New Zealand-based customer due diligence and anti-money laundering tech startup, raised US$21 million in Series B funding. Blackbird Ventures led, and was joined by insiders Bedrock Capital and Icehouse Ventures. http://axios.link/XXaD
- Tarabut Gateway, a Dubai-based open-banking platform, raised $13 million in seed and pre-Series-A funding. Tiger Global led the round.
- Checkbook, a San Mateo, Calif.-based push payments company, raised $10 million in Series A funding. MassMutual Ventures led the round and was joined by investors including IA Capital, JPMorgan Chase, and Cross River Digital Ventures.
- Beta Finance, a maker of a way to short and borrow crypto, raised $5.8 million in funding led by Sequoia Capital India and was joined by investors including ParaFi Capital, DeFiance Capital, Spartan Group, GSR, Delphi Digital, and Multicoin Capital.
- RightRev, a Santa Clara, Calif.-based finance and accounting solution, raised $5 million. Norwest Venture Partners and Salesforce Ventures led the round and were joined by investors including IDEA Fund Partners, Two Sigma, GoBig.ai, and Correlation Ventures.
- Accrue Savings, a New York City-based merchant-embedded savings startup, raised $4.7 million. Twelve Below led the round and was joined by investors including Box Group, Good Friends, Red Sea Ventures, Night Capital, Groundup Ventures, Silas Capital, Gokul Rajaram, and Scott Belsky.
-Quartr, a Stockholm-based maker of a financial information app, raised $4.5 million in seed funding. The Öhman Group led the round and was joined by investors including Michael Batnick, Ben Carlson, Josh Brown, Barry Ritholtz, as well as Peter Sterky (CEO of Trift Capital).
-Doorsey, a Spokane, Wash.-based home buying tech company, raised $4.1 million in seed funding. 166 2nd Financial Services, Adam Neumann’s home office, led the round and was joined by investors including Agya Ventures, Liquid 2 Ventures, SRM Development, and Sam Parr (Founder of The Hustle).
- Afterparty, a Los Angeles-based maker of an NFT and social token platform, raised $3 million in seed funding. Acrew Capital and TenOneTen Ventures led the round and was joined by investors including Palm Tree Crew, Act One Ventures, Hex Capital, and Red Light Management.
. . .
Care:
- Papa, a Miami-based provider of care and companionship solutions to seniors, raised $150 million in Series D funding. SoftBank led, and was joined by TCG, Tiger Global, Canaan Partners, Initialized Capital and Seven Seven Six. www.papa.com
- Notable, a San Mateo, Calif.-based healthcare automation company, raised $100 million in Series B funding. ICONIQ Growth led the round and was joined by investors including Greylock, F-Prime Capital, and Oak HC/FT.
- Infusion for Health, a network of ambulatory infusion centers, raised $50 million in funding led by Oak HC/FT.
- Medallion, a San Francisco-based maker of tech for digital health companies, raised $30 million in Series B funding. Sequoia led the round and was joined by investors including Mario Schlosser (CEO of Oscar), Will Gaybrick (CPO of Stripe), Optum Ventures, Spark Capital, and Elad Gil.
- Wellinks, a New Haven, Conn.-based digital health care company, raised $25 million in funding. Morningside Ventures led the round and was joined by investors including HighCape Capital, Connecticut Innovations, Benslie, and Stonehenge Capital.
- Spartan Radar, a Los Alamitos, Calif.-based biomimetic radar maker, raised $15 million in Series A funding. Prime Movers Lab led the round and was joined by investors including 8VC and Mac VC.
- Huckleberry, an Irvine, Calif.-based maker of an app focused on sleep and parenting, raised $12.5 million in Series A funding. Morningside Ventures led the round and was joined by investors including Spero Ventures and Tamarisc VC.
- BrainCheck, a Houston-based cognitive healthcare platform for physicians, raised $10 million in Series B funding. Next Coast Ventures and S3 Ventures led the round and were joined by investors including Nueterra Capital, Tensility Ventures, and True Wealth Ventures.
- Vivoo, a San Francisco-based wellness tracker to provide personalized nutrition and lifestyle advice based on at-home urine tests, raised $6 million in Series A funding. Draper Associates led the round and was joined by investors including ONCE Ventures, Revo Capital, 500 Startups, Global Ventures, and Halogen Ventures.
- NeuraLight, an Austin and Tel Aviv-based digital neurological disorder evaluation and care company, raised $5.5 million in seed funding. MSAD, Kli, Tuesday, Operator Partners, and VSC Ventures.
-Ombre (formerly Thryve), a San Francisco-based at-home microbiome test and probiotic subscriptions company, raised $3 million in seed funding led by PivotNorth and was joined by investors including Trail Mix Ventures, Shanda Group, Unilever Ventures, Joyance Partners, and Unpopular Ventures.
- Zeit Medical, a Redwood City, Calif.-based maker of stroke detection tech, raised $2 million in seed funding. SeedtoB and Digilife led the round and were joined by investors including Y Combinator, Gaingels, Northsouth Ventures, Tamar Capital, Axial, and Citta Capital.
. . .
Future of Work:
- Treasure Data, a Mountain View, Calif.-based customer data company, raised $234 million in funding led by SoftBank.
- Everlaw, an Oakland, Calif.-based maker of an investigation and litigation platform, raised $202 million in Series D funding, valuing it at over $2 billion. TPG Growth led the round and was joined by investors including H.I.G. Growth Partners, CapitalG, Menlo Ventures, Andreessen Horowitz, and K9 Ventures.
- When I Work, a Minneapolis-based messaging platform for hourly workers, raised $200 million from Bain Capital. http://axios.link/wey0
- Cloudbeds, a San Diego-based company focused on the hospitality industry, raised $150 million in Series D funding. SoftBank Vision Fund 2 led the round and was joined by investors including Echo Street, Walleye Capital, Viking Global Investors, PeakSpan Capital, and Counterpart Ventures.
- Mythical Games, a Los Angeles-based gaming technology studio, raised $150 million in Series C funding. Andreessen Horowitz led the round valuing it at $1.3 billion. Other investors include D1 Capital, RedBird Capital, The Raine Group, Binance, and FTX.
- Reltio, a Redwood City, Calif.-based data software company, raised $120 million in funding. Brighton Park Capital led the round and was joined by investors including Crosslink Capital, NewView Capital, RPS Ventures, Sapphire Ventures, and .406 Ventures. The deal values the business at $1.7 billion.
- OctoML, a Seattle-based machine learning startup, raised $85 million in Series C funding. Tiger Global Management led the round and was joined by investors including Addition, Madrona Venture Group, and Amplify Partners.
- Fountain, an SF-based automated gig and hourly hiring platform, raised $85 million in Series C funding. SoftBank led, and was joined by B Capital Group, Mirae Investment and insiders DCM, Origin Ventures, Commerce Ventures, Semper Virens and Uncork Capital. http://axios.link/J0cN
- Permutive, a collaboration and viewing platform for publishers and advertisers, raised $75 million in Series C funding. SoftBank Vision Fund 2 led the round.
- Yellowbrick Data, a Palo Alto, Calif.-based data warehousing company, raised $75 million in Series C1 funding. Investors include Citadel Securities, Third Point Ventures, Menlo Ventures, Next47, DFJ Growth, Threshold Ventures, GV, and IVP.
- PubNub, a San Francisco API company, raised $65 million in Series E funding. The Raine Group led the round and was joined by investors including Sapphire Ventures, Scale Ventures, HPE, and Bosch.
- Cover, a Gardena, Calif.-based backyard studio building company, raised $60 million in Series B funding led by Gigafund and was joined by investors including Founders Fund, Valor Equity Partners, General Catalyst, and Fifty Years.
- Lever, a talent acquisition startup, raised $50 million in Series D funding. Apax Digital Fund led the round.
- Gather, a San Francisco virtual gathering startup, raised $50 million in Series B funding. Sequoia Capital and Index Ventures led the round.
- Mosaic, a Phoenix-based construction planning software startup, raised $44 million in Series B funding. Peak State Ventures led, and was joined by Starwood Capital, invisionAZ, Tekfen Ventures, Volt Capital, Brightstone,Naval Ravikant and insiders Andreessen Horowitz, Building Ventures, Innovation Endeavors, 8VC, Founders Fund and the Milstein family. http://axios.link/gGs0
- Axios, an Arlington, Va.-based media company, raised an undisclosed amount of funding valuing it at $430 million. Cox Enterprises invested, per Axios.
- Babylist, an Oakland, Calif.-based baby goods e-commerce site, raised $40 million in Series C funding. Norwest Venture Partners led the round and was joined by investors including Halogen Ventures, 500 Global, Next Play Capital, and Marcy Venture Partners.
- Abound, a New York City-based wholesale marketplace connecting small business owners and independent brands, raised $36.7 million in Series B funding. The D. E. Shaw group led the round and was joined by investors including PointState Capital, Left Lane Capital, RiverPark Ventures, and All Iron Ventures.
- FingerprintJS, a Chicago-based browser fingerprinting service. raised $32 million in Series B funding. Craft Ventures led the round and was joined by investors including Nexus Venture Partners and Uncorrelated Ventures.
- Apollo.io, an SF-based provider of B2B sales intelligence and engagement software, raised $32 million in Series B funding. Tribe Capital led, and was joined by NewView Capital and insider Nexus Venture Partners. http://axios.link/PUc7
- Whimsical, a Denver-based collaboration tech company, raised $30 million in Series A funding. Accel led the round and was joined by investors including Basis Set Ventures.
- Contra, a professional network for freelancers, raised $30 million in Series B funding. NEA led, and was joined by insiders Unusual Ventures and Cowboy Ventures. http://axios.link/opkd
- Lumigo, an application monitoring and debugging company, raised $29 million in Series A funding. Redline Capital led the round and was joined by investors including Wing Venture Capital and Vertex Ventures US.
- Rallyware, a Mountain View, Calif.-based performance enablement platform, raised $22 million led by PeakSpan Capital.
- Faraway, a Miami-based game developer and publishing studio, raised $21 million in Series A funding. Lightspeed Venture Partners and FTX led the round and were joined by investors including a16z, Sequoia Capital, Pantera Capital, Jump Capital, and Solana.
- PadSplit, an Atlanta-based maker of a shared household marketplace, raised $20.5 million in Series B funding. Investors include Core Innovation Capital, Impact Engine, Citi, Mark Cuban Companies, and Cox Enterprises.
- Velocity, a Tel Aviv-based startup for accelerating build and delivery of products, raised $17 million in Series A funding. Insight Partners led the round and was joined by investors including Hetz Ventures and Greycroft.
- Hone, a leadership training startup, raised $16 million in Series A funding. F-Prime Capital led the round and was joined by investors including Cowboy Ventures, NextGen Venture Partners, Slack Fund, Gaingels, and SemperVirens.
- Merge API, a San Francisco and New York City-based provider of APIs for business-to-business purposes, raised $15 million in Series A funding. Addition led the round and was joined by investors including NEA.
- Kinoo, a San Francisco, Calif.-based video communication system, raised $13 million in funding with investments from Learn Capital and Galaxy Interactive.
- QuestDB, a San Francisco-based open source database, raised $12 million in Series A funding. Investors include 468 Capital, Uncorrelated Ventures, and Alexis Ohanian.
- Propelo, a San Francisco-based engineering analytics and automation company, raised $12 million in Series A funding. Decibel Partners led the round and was joined by investors including Fike Ventures, Eniac Ventures, and Fathom Capital.
- WhyLabs, a Seattle-based maker of an observability platform for A.I. and data applications, raised $10 million in Series A funding. Defy Partners and AI Fund led the round and were joined by investors including Madrona Venture Group and Bezos Expeditions.
- Ethyca, a New York-based privacy tools company, raised $7.5 million. Investors include Lee Fixel, Lachy Groom’s LGF, and Table Management.
- MilkRun, a Portland, Ore.-based grocery staples subscription service, raised $6 million in Series A funding. Spark Capital led, and was joined by Rise of the Rest, Social Impact Capital and Congruent VC. http://axios.link/IpXR
- Elotl, a San Francisco-based Kubernetes platform, raised $5 million in seed funding. Vertex Ventures US led the round and was joined by investors including Essence Venture Capital, HearstLab, Telescopic, XYZ, Dan Scheinman, and CEO of LaunchDarkly, Edith Harbaugh.
- Activeloop, a Mountain View, Calif.-based data collaboration company, raised $5 million. 468 Capital and CM Ventures led the round and were joined by investors including Tribe Capital and Shasta Ventures.
- Omni Creator Products, a Raleigh, N.C.-based platform for game players to create in-game worlds, raised $4.3 million. Upfront Ventures led the round and was joined by investors including Eden Chen of Pragma, former Epic Games president Paul Meegan, and Everblue Management.
- Marker Learning, a New York City-based startup for the remote administration of learning disability assessments and services, raised $4 million in seed funding. Primary led the round and was joined by investors including Divergent Investments, Night Ventures, and Operator Partners.
- Guardians Collective, a San Francisco-based maker of an early childhood education education site, raised $3.5 million in seed funding. Reach Capital led the round and was joined by investors including Impact America Fund and Gary Philanthropies.
- Martie, a San Francisco-based online grocery store, raised $3 million from Upfront Ventures.
- thirteen lune, a Los Angeles-based beauty products maker, raised $3 million. Fearless Fund led the round.
- Blotout, a customer data platform, raised $3 million in seed funding. First Rays Venture Partners led the round and was joined by investors including Y Combinator, Pascal Capital, Launchpad Capital and FuboTV co-founder Sung Ho Choi.
- Shortboxed, a San Francisco-based marketplace app for buying and selling graded comic books, raised $2.2 million in seed funding. Adam Draper of Boost VC led the round and was joined by investors including Webb Investment Network, and FinSight Ventures.
. . .
Sustainability:
- Helion Energy, a fusion energy company, raised $500 million in Series E funding, and has $1.7 billion in committments tied to performance milestones. Sam Altman (CEO of OpenAI) led the round and was joined by investors including Facebook Dustin Moskovitz, Mithril Capital, and Capricorn Investment Group.
- Loam Bio, an Australian carbon removal startup, raised A$40 million in Series A funding. Time Ventures led, and was joined by Main Sequence, Horizons Ventures, CEFC, Acre Venture Partners, Grok Ventures, Lowercarbon Capital and Thistledown Capital. http://axios.link/596O
- Sofar Ocean Technologies, an SF-based maker of instruments for ocean data collection, raised $39 million in Series B funding from Union Square Ventures and Foundry Group. http://axios.link/7nCm
- Evrnu, a Seattle-based textiles startup, raised $15 million in Series B funding. FullCycle Climate Partners led the round and was joined by investors including Hansae, Bestseller, and PDS Venture.
- Yotta Energy, an Austin-based energy storage startup, raised $13 million. WIND Ventures led and was joined by investors including Doral Energy-Tech Ventures, Riverstone Ventures, EDP Ventures, and SWAN Impact Network.
- Sway, a Berkeley, Calif.-based maker of seaweed-based compostable replacements for single-use plastic packaging, raised $2.5 million. Valor Siren Ventures led the round and was joined by investors including Conservation International Ventures, Alante Capital, and BAM Ventures.
- Greenwork, a San Francisco-based company focused on infrastructure workers, raised $2.4 million. Investors include Climate Capital, Defy Partners, Global Founders Capital, GV, and Kleiner Perkins Scout Fund.
Acquisitions & PE:
- Dropbox (Nasdaq: DBX) agreed to acquire Command E, a San Francisco-based startup backed by investors including Abstract Ventures and Brianne Kimmel. Financial terms weren't disclosed.
- Loft acquired TrueHome, a Mexican proptech backed by investors including FJ Labs and Monashees. Financial terms weren't disclosed.
- Coca-Cola (NYSE:KO) is acquiring a controlling stake in BodyArmor, a New York-based sports drinker maker, for $5.6 billion, per the WSJ. It already owns about 30% of the business.
- With You, Jessica Simpson’s company, is set to acquire Simpsons’ name back from Sequential Brands Group for about $65 million after emerging as the only bidder.
- Fiverr acquired Stoke Talent, an Israel-based freelance management platform, for $95 million. Stoke is backed by investors including Battery Ventures and TLV Partners.
- Coinbase is acquiring Agara, a Walnut, Calif.-based maker of A.I.-based customer service tech. The deal is valued between $40 million and $50 million, per TechCrunch. Agara is backed by Kleiner Perkins.
- ServiceMax will acquire LiquidFrameworks, a Houston-based field-services software maker, from Luminate Capital Partners. Financial terms weren't disclosed.
- Vestwell, backed by Point72 Ventures, acquired Sumday, a subsidiary of BNY Mellon that helps states administer college savings plans. Financial terms weren't disclosed.
- Cross River Bank acquired Betterfin, a New York City-based lender backed by Reddit co-founder Alexis Ohanian. Financial terms weren't disclosed.
- Rubicon Partners, Valtruis, a WCAS company, Oak HC/FT, and HLM Venture Partners acquired a majority stake in U.S. Medical Management, a Troy, Mich.-based home-care company, from Centene (NYSE: CNC).
- Scale AI acquired SiaSearch, a German data management platform. Financial terms weren't disclosed.
- Moonbug, a kid's entertainment content studio whose shows include "CoComelon," agreed to be acquired for around $3 billion by the Blackstone-backed media platform led by Tom Staggs and Kevin Mayer. It had raised over $250 million from firms like Raine Group, Goldman Sachs and Fertitta Capital. http://axios.link/Pt6y
. . .
IPOs:
- Allbirds, a San Francisco-based wool shoemaker, and its shareholders raised $302.9 million in an offering of 20.2 million shares (19% sold by insiders) priced at $15 per share—they had previously planned to raise up to $269 million. The company posted net revenue of $219 million in 2020 and reported a net loss of $26 million. Maveron, Tiger Global, T. Rowe Price, Fidelity Investments, and Lerer Hippeau Ventures back the firm.
- Arhaus, a Boston Heights, Ohio-based home furnishing company, raised $168 million in an offering of 12.9 million shares priced at $13 per share—Shareholders and management had previously planned to sell an additional 10 million in shares, but did not sell any stock in the IPO, according to the company. The company reported $507 million in net revenue in 2020 and net and comprehensive income of $18 million. Freeman Spogli & Co. backs the firm.
- NerdWallet, an S.F.-based personal finance platform, raised $131 million in its IPO. It priced in the middle of its $17-$19 range, for a $1.3 billion fully diluted value, and closed its first day of trading (Nasdaq: NRDS) at $28.30 per share. The company reports a $35 million net loss on $280 million in revenue for the first nine months of 2021, and raised $192 million from firms like Innovius Capital, IVP, RRE Ventures and iGlobe Partners. http://axios.link/3Ik2
- Real Good Foods, a Cherry Hill, N.J.-based maker of low-carb high-protein packaged foods, raised $64 million in its IPO. It priced at $12 (below $14-$16 range), and will list on the Nasdaq (RGF). Backers include Strand Equity Partners and Fidelity. http://axios.link/3l9Q
. . .
SPACs:
- Securus, a prison phone operator owned by Platinum Equity, is in talks to go public via Atlantic Avenue Acquisition (NYSE: ASAQ), a SPAC formed by MC Credit Partners, per Bloomberg. Platinum in 2019 sought to merge Securus with rival ICS, which was then owned by H.I.G. Capital, but was blocked by antitrust regulators. H.I.G. later spun off ICS, given the controversies over for-profit prison calling services.
- A blank check company sponsored by Brooklyn Nets player Kevin Durant and his manager and business partner Rich Kleiman, filed to raise $200 million in an IPO. The SPAC, Infinite Acquisition Corp., will focus on sports, health and wellness, food tech and supply, e-commerce, and crypto and digital assets.
Funds:
- MBM Capital plans to raise between $75 million to $100 million to invest in struggling unicorns.
- Walden Catalyst Ventures raised $550 million for its first fund focused on deep tech.
- Fifty Years raised $90 million for Fund III focused on investments including deep tech.
- 137 Ventures raised $350 million for its fifth fund focused on growth-stage tech companies.
- BlackRock raised $673 million for its Climate Finance Partnership.
- Section 32, a life sciences VC firm led by Bill Maris (ex-GV), raised $740 million for its fourth fund. www.section32.com
-UpWest closed a $70 million fund focused on Israeli founders.
Final Numbers
Source: Renaissance Capital. Data through Nov. 3, 2021.