Sourcery (11/23-11/27)
Hippo, Current, Chainalysis, HMBradley, Socialeads, Well Health, WithMe Health, Encantos, Hellosaurus, Loadsmart, Duolingo, Boulevard, Funnel, Observable, Superpeer, Friday, Phood. ACV Auctions...
Last Week (11/23-11/27):
Relevant deals include the 60+ deals across stages below.
Deals are segmented below into four categories, Fintech, Care, Future of Work, and Sustainability, and ordered from later-stage rounds to early-stage rounds. Highlighted deals include Hippo, Current, Chainalysis, HMBradley, Socialeads, Well Health, WithMe Health, Encantos, Hellosaurus, Loadsmart, Duolingo, Boulevard, Funnel, Observable, Superpeer, Friday, Phood. ACV Auctions, Marqeta, Compass. Metromile, AvePoint.
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A BIG welcome to the Fordham PE & VC Club to Sourcery’s weekly top VC deals newsletter. I hope this helps you get acquainted with what is being funded and announced at the moment (most announcements come months after funding rounds take place). And if any of you want to connect please feel free to reply directly.
To other subscribers, if you are a part of a university tech or venture club and want to share Sourcery with your members, reach out! Nothing like the gift of sharing deals this holiday season.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Hippo, a Palo Alto, Calif.-based home insurance startup, raised $350 million in new funding from Mitsui Sumitomo Insurance Co. In July it raised a $150 million Series E round at a $1.5 billion valuation. http://axios.link/UEtu
- Current, a New York City-based U.S. digital bank, raised $131 million in Series C funding. Tiger Global Management led the round and was joined by investors including Sapphire Ventures, Avenir, Foundation Capital, Wellington Management Company, and QED Investors.
- Chainalysis, a New York-based provider of blockchain compliance services, raised $100 million, per Forbes citing sources. Addition is reportedly leading the round with participation from Accel, Benchmark, and Ribbit Capital. Read more.
- Turtlemint, an Indian insurance comparison platform, raised $30 million. GGV Capital led and was joined by American Family Ventures, MassMutual Ventures, SIG Ventures, and return backers Sequoia Capital India, Blume Ventures, Nexus Venture Partners and Trifecta Capital.http://axios.link/CYdu
- HMBradley, a Santa Monica, Calif.-based digital bank that helps customers prioritize saving by offering high interest rates, raised $18.3 million in Series A funding led by Acrew Capital.
- Flyreel, a Denver-based solution residential and commercial property insurance, raised $10 million in Series A funding. IA Capital Group led the round and was joined by investors including Guidewire Software (NYSE: GWRE), Gradient Ventures, State Auto Labs, and Donan Engineering.
- Socialeads, a Milwaukee-based data science startup focused on insurers, raised $1.75 million from Northwestern Mutual, Winnebago Seed Fund, Cameron Ventures, Rock River Capital and Plug & Play Ventures. http://axios.link/UBak
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Care:
- Well Health, a Santa Barbara, Calif.-based patient communications company, raised $45 million in Series C funding. Lead Edge Capital led the round and was joined by investors including Martin Ventures, Jackson Square Ventures, Health Velocity Capital, Summation Health Ventures, Structure Capital, and Freestyle Capital.
- FirstVet, a Swedish veterinary telemedicine startup, raised $35 million. Mubadala led, and was joined by Cathay Innovation and return backers OMERS Ventures and Creandum. http://axios.link/yofE
- WithMe Health, a San Mateo, Calif.-based medication guidance startup, raised $20 million in Series B funding. OMERS Ventures led, and was joined by Section 32, Shulman Ventures, MTS Ventures and return backer Oak HC/FT.www.withmehealth.com
- AllRight, a Wilmington, De.-based maker of online English language classes, raised $5 million in Series A funding. Genesis Investments led the round and was joined by investors including TMT Investments, TerraVC, and Flashpoint and Misha Lyalin. Read more.
- Encantos, a Culver City, Calif.-based edtech focused on digital and physical play for kids, raised $5.7 million from a group of renowned investors. That includes a $3.2 million seed round led by Precursor Ventures who were joined by Angeles Ventures, Concrete Rose Capital, Metrodora Ventures, Next Play Ventures, Portfolia’s Rising America Fund, and Revolution’s Rise of the Rest Seed Fund.
- Hellosaurus, a New York-based company creating video classes for kids, raised $3.5 million in seed funding. General Catalyst led the round.
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Future of Work:
- AppsFlyer, a San Francisco-based marketing analytics firm, raised an undisclosed amount of funding from Salesforce Ventures as an extension to its $210 million series D round led by General Atlantic from earlier this year.
- Discord, a San Francisco-based online chat app, is raising new funding at a $7 billion valuation, per TechCrunch. It previously raised $100 million led by Index Ventures at a $3.5 billion valuation, back in June. http://axios.link/CFWB
- Loadsmart, a New York-based digital freight brokerage, raised $90 million in Series C funding. BlackRock led and was joined by Chromo Invest, TFI International, Maersk, Bramalea Partners and Perry Capital. http://axios.link/x32U
- Stackline, a Seattle-based maker of enterprise tools for retailers and brands to manage their e-commerce business, raised $50 million in Series A funding. Goldman Sachs Growth Equity led the round.
- Duolingo, a Pittsburgh-based language learning platform, raised $35 million at a $2.4 billion valuation from Durable Capital Partners. http://axios.link/JLtD
- Boulevard, a Los Angeles-based management system for salons and spas, raised $27 million in Series B funding. Index Ventures and Toba Capital co-led the round and were joined by investors including VMG Partners, Bonfire Ventures, Ludlow Ventures, and BoxGroup.
- Funnel, a New York-based maker of leasing software formerly known as Nestio, raised $14 million. RET Ventures led the round and was joined by investors including Trinity Ventures and Camber Creek.
- DefenseStorm, an Alpharetta, Ga.-based a cybersecurity management platform for community banks and credit unions, raised $12 million in Series B funding. Georgian Partners led the round and was joined by TTV Capital.
- Observable, a San Francisco-based maker of data visualization software, raised $10.5 million in a Series A funding. Sequoia Capital and Acrew Capital led the round.
- Kea, a Mountain View, Calif.-based company automating phone ordering, raised $10 million in Series A funding. Marbruck led the round and was joined by investors including Streamlined Ventures, Xfund, Heartland Ventures, DEEPCORE, Barrel Ventures, and AVG Funds.
- WeGift, a U.K.-based digital rewards platform that helps businesses give gift cards to customers, raised $8 million a Series A extension round. AlbionVC led the round and was joined by investors including Stride.vc, SAP.iO fund and Unilever Ventures. Read more.
- Glue, an Israel-based A.I. platform for small business loyalty programs, raised $8 million in Series A funding from private investors led by Unicorn Technologies.
- Superpeer, a San Francisco-based video mentoring platform, raised $8 million from Acrew Capital, Audacious Ventures, Homebrew, Moxxie Ventures, Brianne Kimmel, Scott Belsky and OnDeck.http://axios.link/24lr
- Altana AI, a New York-based federated data platform that powers international commerce, raised $7 million in seed funding. Amadeus Capital Partners led the round and was joined by Schematic Ventures, AlleyCorp, and Working Capital.
- Lightspin, a Tel Aviv-based cloud security company, raised $4 million in seed funding. Ibex Investors led the round.
- Daylight Labs, a startup started by former Sequoia partner Amy Sun aimed at gig economy workers, raised $3.8 million, per an SEC filing. Read more.
- Hasty, a Berlin-based maker of an annotation tool for A.I., raised $3.7 million in seed funding. Shasta Ventures led the round and was joined by investors including coparion and iRobot Ventures.
- Konnecto, a Tel Aviv-based platform for customer analysis, raised $3.5 million in seed funding. TPY Capital led the round and was joined by investors including Differential Ventures, Magna Capital Partners, SeedIL Ventures, and Hike Ventures.
- Friday, a Portland, Me.-based remote work company, raised $2.1 million in seed funding. Bessemer Venture Partners led the round and was joined by investors including Active Capital, Underscore, El Cap Holdings, TLC Collective, and New York Venture Partners.
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Sustainability:
- Phood, a New York City-based platform to help businesses prevent food waste, raised $2 million in seed funding. New Stack Ventures and Story Ventures co-led the round. Read more.
Acquisitions:
- BlackRock agreed to acquire Aperio, a provider of indexing solutions, from Golden Gate Capital and Aperio employees for $1.1 billion in cash.
- McCormick & Company (NYSE: MKC) agreed to acquire Cholula, a hot sauce brand, from L Catterton for $800 million.
- HelloFresh agreed to acquire Factor75, a Batavia, Ill.-based provider of fully-prepared meals for up to $277 million.
- Kahoot! acquired Drops, a Tallinn, Estonia-based language learning platform, for up to $50 million.
- Bertelsmann will acquire Simon & Schuster, a New York City-based publisher, from ViacomCBS for over $2 billion, Reuters reports citing a source. Read more.
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IPOs:
- ACV Auctions,a Buffalo, N.Y.-based wholesale auto auction site, is working on confidential IPO papers for what's expected to be a 2021 float, Axios has learned from multiple sources. The company has raised $350 million in VC funding, most recently led by Durable Capital Partners at a $1.7 billion valuation, and just added Bill Zerella (ex-Fitbit) as CFO.
- Marqeta, an Oakland-based card issuing platform, picked Goldman Sachs and JPMorgan for a 2021 IPO, per Bloomberg. The company has raised $525 million in VC funding, most recently at a $4.3 billion valuation, from Goldman Sachs, Coatue Management, Vitruvian Partners, Visa, 83North, Granite Ventures, and Iconiq Capital.http://axios.link/xE2p
- Compass, the SoftBank-backed company that’s among the largest real estate brokerages in the U.S., has selected underwriters for a potential IPO, according to Bloomberg. It says the nearly nine-year-old, New York-based outfit is working with Goldman Sachs and Morgan Stanley ahead of a listing that’s slated for next year. According to Crunchbase, Compass has raised $1.6 billion from private investors altogether. More here.
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SPACs:
- Metromile, a San Francisco-based digital auto insurer, will combine with Insurance Acquisition Corp. II, a SPAC sponsored by Cohen & Company. The combined firm will have an estimated value of $1.3 billion.
- AvePoint, a Jersey City-based data management provider for the Microsoft cloud backed by Sixth Street, agreed to combine with Apex Technology Acquisition (NASDAQ: APXT), a SPAC. The deal values the combined firm at $2 billion.
- UpHealth Holdings and Cloudbreak Health, two digital healthcare companies, agreed to merge with GigCapital2, a SPAC, Reuters reports citing sources. The deal values the company at $1.35 billion. Read more.
- Senior Connect Acquisition I, formed by Richard Burke, the founder and former CEO of UnitedHealth Group, filed to raise up to $300 million. The firm is seeking a target in health and lifestyle sectors catering to seniors. Read more.
Funds:
- Andreessen Horowitz raised $4.5 billion across an early and growth fund. The firm raised $1.3 billion for its seventh early-stage fund and $3.2 billion across a second growth fund.
- Bain Capital raised $800 million or its second impact investing fund. http://axios.link/N2Pr
- Day One Ventures, led by Masha Drokova, raised over $70 million for its second fund. www.dayoneventures.co
- Sinai Capital Partners of Los Angeles raised $500 million for a tech-focused VC fund and $100 million for a media-focused VC fund. http://axios.link/9sV1