Sourcery (11/2-11/6)
Arcus, Transcend, Teampay, Sidekick Health, Human API, One Health, ByteDance, Vimeo, Flock Safety, Ushur, Stensul, Reflektion, Agora Systems. Freshly, MyFitnessPal, LLamasoft.
Last Week (11/2-11/6):
Relevant deals include the 35+ 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 Arcus, Transcend, Teampay, Sidekick Health, Human API, One Health, ByteDance, Vimeo, Flock Safety, Ushur, Stensul, Reflektion, Agora Systems. Freshly, MyFitnessPal, LLamasoft.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Conductor, a Brazil-based card issuing software platform in Latin America, raised $150 million in funding. Viking Global Investors led the round and was joined by investors including Advent International’s affiliate Sunley House Capital.
- Arcus, a New York-based fintech platform, raised an undisclosed amount of funding from Citi Ventures.
- Fast, a San Francisco-based maker of a way to checkout quickly online, is in talks to raise between $50 million and $200 million, valuing it at as much as $1 billion, per the Information. Read more.
- Marshmallow, a British auto insurance startup, raised $30 million in Series A funding at a $310 million post-money valuation from backers like Outrun Capital. http://axios.link/GFKz
- Transcend, a New Jersey-based provider of inventory management and reporting solutions for financial firms, raised $10 million in a Series A funding. Nyca Partners.
- Teampay, a New York-based spend management platform, raised $5 million in Series A-1 funding. Fin Venture Capital led the round and was joined by investors including Tribe, Crosscut, and Precursor.
. . .
Care:
- SidekickHealth, a Sweden-based gamified health-behavior change platform, raised $20 million in Series A funding. Wellington Partnersand Asabys Partners co-led, and were joined by return backers Novator and Frumtak Ventures. http://axios.link/rAtV
- Human API, a San Mateo, Calif.-based company for sharing health data with companies, raised $20 million in Series C funding. Backers included Samsung Ventures, CNO Financial Group, Allianz Life Ventures, and Moneta VC.
- Koa Health, a Barcelona-based digital mental healthcare company spinning out of Telefonica, raised $16.5 million in Series A funding. Ancora Finance Group and Wellington Partners led the round.
- One Health, a Palo Alto-based developer of precision medicines for dogs, raised $10 million. Polaris Partners and Borealis Ventures co-led, and were joined by return backers Andreessen Horowitz, Lerer Hippeau, YC, and Tau Ventures.http://axios.link/RzAy
. . .
Future of Work:
- ByteDance, the eight-year-old, Beijing, China-based company behind TikTok, is in talks to raise another $2 billion before an IPO of a large chunk of its international businesses on the Hong Kong Stock Exchange, according to a Bloomberg, which says that earlier backer, Sequoia Capital, is likely to participate. More here.
- Vimeo, the 16-year-old, New York-based video platform and community, has raised $150 million in new equity funding, announced in conjunction with the third quarter earnings of its parent company IAC. In a letter to shareholders, IAC CEO Joey Levin said the company has “begun contemplating spinning Vimeo off to our shareholders.” IAC acquired Vimeo in 2006. TechCrunch has more here.
- Flock Safety, an Atlanta-based developer of local surveillance systems, raised $47 million in Series C funding. Meritech Capital Partners led, and was joined by Julia and Kevin Hartz (Eventbrite), Zac Bookman (OpenGov) and return backers Initialized Capital, Axon, Bedrock Capital, Matrix Partners, Founders Fund, and YC.http://axios.link/lZNA
- Ayar Labs, a Santa Clara, Calif.-based developer of a way to move data via optical connections, raised $35 million in Series B funding. Downing Ventures and BlueSky Capital led the round and were joined by investors including Playground Global, Applied Ventures, Castor Ventures, SGInnovate, BlueSky Capital, Founders Fund, GLOBALFOUNDRIES, Intel Capital, and Lockheed Martin Ventures.
- Celona, a Cupertino, Calif.-based enterprise networking company seeking to bridge the gap between LTE/5G cellular wireless and enterprise IT infrastructure, raised $30 million in Series B funding. NTTVC and Qualcomm Ventures led the round and was joined by investors including Lightspeed Venture Partners, Norwest Venture Partners, and Cervin Ventures.
- Ushur, a six-year-old, Santa Clara, Ca.-based micro-engagement SaaS platform for automating service workflows, has raised $25 million in Series B funding led by Third Point Ventures (the fund founded and led by activist investor and hedge fund manager Daniel Loeb), with previous investor 8VC also participating. The company has now raised $36 million altogether. TechCrunch has more here.
- Stensul, a New York-based email creation platform for the enterprise, raised $16 million in Series B funding. USVP led the round and was joined by investors including Capital One Ventures, Peak State Ventures, Javelin Venture Partners, Uncork Capital, First Round Capital, and Lowercase Capital.
- TVision, a New York-based company measuring streaming viewership, raised $16 million in funding. SIG Asia Investments led the round and was joined by investors including Susquehanna International Group, Accomplice, Golden Ventures, and Jump Capital. Read more.
- Apkudo, a Baltimore, Md.-based provider of supply chain automation solutions for connected devices, raised $14 million in Series B funding. Harbert Growth Partners and MissionOG led the round and were joined by investors including Grotech Ventures and Lavrock Ventures.
- Onfleet, a San Francisco-based last mile delivery management software maker, raised $14 million in Series A funding. Kennet Partners led the round.
- Reflektion, a San Mateo, Calif.-based developer of a customer engagement platform, raised $13.5 million from investors including London Technology Club, Clear Ventures, Intel Capital, Battery Ventures and Hasso Plattner Ventures.
- SkyHive, a Vancouver, Canada- and San Francisco, Calif.-based-based reskilling platform, raised $8 million in Series A funding. Investors included AllegisCyber Capital, Accenture, Workday Ventures, and the Partnership Fund for New York City.
- Agora Systems, a San Francisco-based maker of materials supply chain software for commercial trade contractors, raised $7 million in Series A funding. 8VC led the round and was joined by investors including Tishman Speyer, Suffolk Construction, Kevin Hartz, Abstract Ventures, and BoxGroup.
- Lucidum, a San Jose, Calif.-based a cybersecurity platform for finding blind spots across operations, raised $4 million in seed funding. GGV Capital and Silicon Valley CISO Investments led the round.
- Riverside.fm, a video podcasting platform, raised $2.5 million in funding. Oren Zeev led the round.
- Juggle, a London-based marketplace for flexible work, raised $2.1 million in funding. Investors included Andrew Gault, Andreas Mihalovits, Andrew J Scott, Pip Wilson, Social Capital, Oxford Capital and 7percent Ventures.
- Podcastle, a Middletown, De.-based maker of a platform for turning articles into podcasts, raised $1.75 million in seed funding. Sierra Ventures led the round and was joined by investors including AI Fund and Correlation Ventures.
Acquisitions:
- Francisco Partners agreed to acquire MyFitnessPal, a San Francisco-based food-tracking and fitness app, from Under Armour (NYSE: UAA). Financial terms weren't disclosed.
- Nestlé USA agreed to acquire Freshly Inc, a Tempe, Ariz.-based deliverer of healthy meals, for up to $1.5 billion. Investors included Insight Partners and Highland Capital Partners.
- IPSY, a beauty sampling service, says it will acquire BoxyCharm, a South Florida-based provider of full-size beauty product subscriptions, to form BFA (Beauty For All) Industries. The duo is on track for over $1 billion in annual revenue this year. BoxyCharm investors included KarpReilly. Financial terms weren't disclosed.
- NerdWallet, a San Francisco-based personal finance platform that’s raised over $100 million, acquired Fundera, a New York-based online lending platform that had raised around $25 million from firms like First Round Capital, Core Innovation Capital, Khosla Ventures, QED Investors, and Susquehanna Growth Equity. http://axios.link/C0vU
- Coupa Software (NASDAQ: COUP) acquired LLamasoft, an Ann Arbor, Mich.-based supply chain design and planning company, for about $1.5 billion. Llamasoft has been backed by TPG and MK Capital.
- Phone2Action acquired GovPredict, a D.C.-based provider of legislative, regulatory, issue monitoring, and campaign finance intelligence. Y-Combinator backed GovPredict. Financial terms weren't disclosed.
- GoPuff is making a big acquisition less than a month after it announced a $380 million SoftBank-led round that valued it $3.9 billion. The seven-year-old, Philadelphia-based company is acquiring the 26-year-old, U.S. alcoholic beverage chain BevMo for $350 million. GoPuff originally delivered smoking paraphernalia and snacks in under 30 minutes but evolved to deliver all kinds of everyday products. More here.
- Lightspeed, a publicly traded point-of-sale software company, is spending $440 million to acquire ShopKeep, a New York-based cloud commerce platform that had raised $137 million from firms like Tribeca Venture Partners, New Ground Ventures, First Data, Salesforce Ventures, and Activant Capital Group, according to Crunchbase. Pymnts has more here.
. . .
IPOs:
- Ant Group’s plans to raise $34.4 billion via a dual listing in Hong Kong and Shanghai were suspended over regulatory concerns. Read more.
- Ozon, a Russian e-commerce platform, filed for an IPO that Renaissance Capital estimates could raise $500 million. It plans to list on the Nasdaq, and reports a $13 million net loss on $67 million in revenue for the first nine months of 2020. Backers include Baring Vostok Private Equity (45.1% pre-IPO stake), Index Ventures (6%) and Princeville Global (5.6%). http://axios.link/TKW3
- Petco Animal Supplies, a San Diego-based retail chain, filed confidentially for an initial public offering. Read more.
- Upstart, a San Mateo, Ca.-based lending platform, filed for an IPO. Third Point Ventures, Stone Ridge, and Khosla Ventures back the firm. Read more.
Funds:
- Bronze Investments, an 11-year-old, San Francisco-based impact fund founded by Stephen DeBerry, a former partner with Kapor Capital, is targeting up to $50 million for a new fund, suggests a new SEC filing. More here.
- Powerhouse Capital, a nearly two-year-old, L.A.-based venture firm focused on startups in media, entertainment and interactive gaming is hoping/expecting to raise $75 million for its debut fund, suggests a new SEC filing. Powerhouse was founded by Ian Doody, who previously spent 11 years as a principal with the investment bank Evolution Media Capital. More here.
- The Westly Group, the venture firm founded 13 years ago by Steve Westly, a former eBay exec who later served as the controller and chief fiscal officer of the state of California, is looking to close its fourth fund with $250 million, suggests a new SEC filing. The outfit had closed its third fund with $130 million in 2018.
- Insight Partners, Precursor Ventures, also have new filings worth examining.
- Hustle Fund, a three-year-old, San Carlos, Ca.-based pre-seed fund, has closed on at least $30 million in capital commitments for its second fund, show SEC filings. Hustle Fund first filed paperwork for the fund in May 2019, listing a target of $50 million. Its debut fund had closed with $11.5 million. Hustle Fund was created by Elizabeth Yin and Eric Bahn, two former 500 Startups partners. TechCrunch has more here.
- 645 Ventures, a seven-year-old, New York-based early-stage firm founded by former analysts at Goldman Sachs and Insight Partners, has raised $160 million for its third fund. It's a huge jump from the $40.6 million they'd raised for their second fund just two years ago. More here.