Sourcery (1/18-1/22)
PPRO, K Health, Aledade, Everlywell, Deliveroo, Imperfect Foods, Brigit, Conversa Health, Personio, StackPulse, FLEXE, CANOA. Signify Health. Joby Air, Payoneer, EVgo...
Last Week (1/18-1/22):
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 PPRO, K Health, Aledade, Everlywell, Deliveroo, Imperfect Foods, Brigit, Conversa Health, Personio, StackPulse, FLEXE, CANOA. Signify Health. Joby Air, Payoneer, EVgo.
Final numbers on S&P 500 During Presidents’ First Term at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- PPRO, a London-based payments infrastructure company, raised $180 million. Investors included Eurazeo Growth, Sprints Capital, and Wellington Management, valuing it at over $1 billion.
- Brigit, a New York-based maker of a budgeting app, raised $35 million in Series A funding. Lightspeed Ventures led the round and was joined by investors including DCM, Nyca, Canaan, DN Capital, CRV, Core, Shasta, Hummingbird, Abstract, Brooklyn Bridge Ventures, Secocha, Ashton Kutcher’s Sound Ventures, and Flourish Ventures.
- Wintermute, a London-based digital assets liquidity company, raised $20 million in Series B funding. Lightspeed Venture Partners led the round and was joined by investors including Pantera Capital, Sino Global Capital, Kenetic Capital, Rockaway Blockchain Fund, Hack VC, DeFi Alliance, Avon Ventures,Fidelity Investments, and Blockchain.com Ventures.
- MotoRefi, an Arlington, Va.-based auto refinancing startup, raised $10 million in Series A1 funding. Moderne Ventures led the round.
- Arbol, a New York-based weather-based insurer, raised $7 million in Series B funding. Investors included Finch Finance, Space Capital, and Mubadala Capital-Ventures.
. . .
Care:
- K Health, a New York-based urgent and primary telehealthcare company, raised $132 million in Series E funding. The investors were GGV Capital’s Hans Tung, Valor Equity Partners’ Antonio Gracias, Kaiser Permanente, and were joined by 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners and BoxGroup. www.khealth.ai
- Aledade, a Bethesda, Md.-based primary care startup, raised $100 million in Series D funding. Meritech Capital led the round and was joined by investors including Tiger Global Management, IVP, and OMERS Growth Equity.
- Everlywell, an Austin, Texas-based in-home health testing platform, raised $75 million in secondary funding from HealthQuest Capital. This is at the same $1.3 billion valuation as a recent Series D round from BlackRock, TCG, Foresite Capital, Greenspring Associates, Morningside Ventures, Portfolio and return backer Highland CapitalPartners.http://axios.link/S1iS
- Apricus Health, a Phoenix, Ariz.-based telehealth company, raised $20 million. Virgo Investment Group was the investors.
- Conversa Health, a Portland, Ore.-based virtual care and triage platform, raised an additional $8 million for a total of $20 million in Series B funding. Builders VC and Northwell Ventures led Series B round.
- ConsejoSano, a Los Angeles-based healthcare technology company, raised $17 million in Series B funding. Magnetic Venture led the round.
- XP Health, a Palo Alto-based vision benefits platform, raised $5 million in seed funding. Valor Capital Group led the round.
. . .
Future of Work:
- Deliveroo, a British food delivery company, raised $180 million valuing it at over $7 billion. Durable Capital Partners and Fidelity Management & Research Company led the round.
- Globality, a Menlo Park, Calif.-based sourcing services company, raised $138.3 million. Sienna Capital led the round and was joined by investors including SoftBank Vision Fund.
- Volta, a San Francisco-based electric vehicle charging company, raised $125 million in Series D funding. Investors included Energize Ventures.
- Personio, a Germany-based maker of a HR platform, raised $125 million in Series D funding at a $1.7 billion valuation. Index Ventures and Meritech led the round and were joined by Accel, Lightspeed Venture Partners, Northzone, Global Founders Capital, and Picus.
- Soci, a San Diego-based localized marketing startup, raised $80 million in Series D funding. JMI Equity led, and was joined by Ankona Capital. http://axios.link/smDm
- Quali, an Austin-based cloud infrastructure automation company, raised $54 million in funding. Greenfield Partners and JVP co-led the round.
- Swimlane, a Denver, Colo.-based data security company, raised $40 million. EIP led the round.
- OpenDrives, a Los Angeles-based data workflows startup, raised $20 million in Series B funding. IAG Capital Partners led the round.
- StackPulse, a Portland, Ore.-based engineering software company, raised $20 million in Series A funding. GGV Capital led the round.
- Rewind, a Canadian cloud data security startup, raised US$15 million in Series A funding led by Inovia Capital. www.rewind.com
- FLEXE, a Seattle-based logistics software company, raised an additional $10 million as part of its Series C round. The C round itself included investments from Activate Capital, Tiger Global, Madrona Ventures, Redpoint Ventures, and Prologis Ventures.
- Avesha, a Burlington, Mass.-based provider of software that helps apps disaggregate from cloud to the edge, raised $6 million in seed funding led by Taiwania Capital. http://axios.link/8HUR
- CloudNatix, a startup focused on businesses with multiple clouds, raised $4.5 million in seed funding. DNX Ventures led the round and was joined by investors including Cota Capital, Incubate Fund, Vela Partners, and 468 Capital. Read more.
- Podchaser, developer of an "IMDB for podcasts," raised $4 million led by Greycroft. http://axios.link/buO2
- TraceAir, a Redwood City, Calif.-based construction site monitoring platform, raised $3.5 million in Series A funding led by XTX Ventures led, and was joined by Liquid 2 Ventures, GEM Capital and GPS Ventures. http://axios.link/ywPo
- Softr, a no-code website and app development platform, raised $2.2 million in seed funding led by Atlantic Labs. http://axios.link/MPEK
- CANOA, a New York-based design and construction startup focused on commercial real estate, raised $1.5 million in seed funding. TMV (formerly Trailmix Ventures) led the round and was joined by investors including Building Ventures and Gemini Ventures.
. . .
Sustainability:
- Imperfect Foods, a San Francisco-based grocery delivery company based on reject produce, raised $95 million in Series D funding. Insight Partners led the round and was joined by investors including Norwest Venture Partners.
- Curtsy, a San Francisco-based maker of a clothing resale app, raised $11 million in Series A funding. Index Ventures led the round and was joined by investors including Y Combinator, FJ Labs,1984 Ventures, and Josh Breinlinger. Read more.
Acquisitions:
- Citrix Systems (NYSE: CTRX) is in “advanced talks” to acquire Wrike, a San Jose, Calif.-based project management software maker, for over $2 billion, per Bloomberg. Vista Equity Partners backs Wrike. Read more.
- Medium acquired Glose, a Paris-based digital book company. Glose was backed by Kima Ventures and Expon Capital.
- Goldman Sachs (NYSE: GS) is weighing acquisitions to bulk up its consumer banking unit Marcus, per Reuters. Read more.
- PlayVS acquired GameSeta, a Vancouver-based esports startup. Financial terms weren't disclosed.
. . .
IPOs:
- Signify Health, a Norwalk, Conn.-based healthcare enablement platform backed by New Mountain Capital, filed for a $100 million IPO. It plans to list on the NYSE (SGFY) and reports a $15 million net loss on $417 million in revenue for the first nine months of 2020. http://axios.link/5QWz
. . .
SPACs:
- Ares Acquisition, a SAPC formed by Ares Management seeking a sustainability business, filed to raise $600 million. Read more.
- Payoneer, a New York-based online payments company, is in talks to go public via merger with FTAC Olympus Acquisition Corp., a SPAC. The deal could value the firm over $2.5 billion, per Bloomberg. Read more.
- Joby Aero, an electric flying taxi maker, is weighing a deal to go public through a merger with a SPAC, per Reuters. A deal could value the firm at about $5 billion. Read more.
- EVgo, a Los Angeles-based fast charging company for electric vehicles, will go public via merger with Climate Change Crisis Real Impact I Acquisition, a SPAC. Investors include PIMCO, BlackRock, Wellington Management, Neuberger Berman Funds, and Van Eck Associates are expected to invest $400 million via PIPE. The planned merger values EVgo at approximately $2.6 billion.
Funds:
- Crossbeam, a VC firm focused on "platform economy" startups, raised $25 million for its debut fund. http://axios.link/kf2d
- Blue Horizon Ventures, a Zurich-based sustainable food technology focused venture capital fund, raised €183 million ($222 million) for its flagship fund.
- Crosslink Capital, a San Francisco-based early-stage venture capital firm, raised $350 million for its Crosslink Ventures IX fund.
Final Numbers
Data: Yahoo Finance; Chart: Andrew Witherspoon/Axios