Sourcery (11/9-11/13)
Better.com, Truebill, Coherent, PharmaPack, Carbon Health, Buoy Health, Solv, ScaleAI, Pipedrive, Hopin, Menlo Security, JumpCloud, Remote, Fishtown Analytics, Kate Farms. Workfront, Postmates, Kount.
Last Week (11/9-11/13):
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 Better.com, Truebill, Coherent, PharmaPack, Carbon Health, Buoy Health, Solv, ScaleAI, Pipedrive, Hopin, Menlo Security, JumpCloud, Remote, Fishtown Analytics, Kate Farms. Workfront, Postmates, Kount. Instacart, Airbnb, Cano Health.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Better.com, a New York-based mortgage lender, raised $200 million in Series D funding. L Catterton led the round that values the firm at at $4 billion, per Bloomberg citing sources. Read more.
- Endpoint, an El Segundo, Calif.-based digital title and escrow platform for real estate agents, buyers, and sellers, raised $40 million from its parent company, First American Financial Corporation.
- Railsbank, a London-based open banking platform, raised $37 million. MiddleGame Ventures and Ventura Capital co-led the round and were joined by Anthos Capital, Global Brains, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr.
- Fabric, a Brooklyn, New York-based provider of products helping parents protect their family's financial future, raised $18m in Series B funding (read here)
- Truebill, a Silver Spring, Md.-based startup for cancelling subscriptions and negotiating bills, raised $17 million in Series C funding. Bessemer Ventures led the round and was joined by investors including Day One Ventures, Eldridge Capital, Cota Capital, and Firebolt Ventures.
- Coherent, a Hong Kong-based provider of digital tools for insurers, has raised $14 million in Series A funding led by Cathay Innovation, with Franklin Templeton also participating. http://axios.link/rH28
- Maestro, a New York-based private equity tech platform, raised $7.2 million in Series A funding by S&P Global Market Intelligence.
- Highwing, a Denver-based commercial insurance tech startup, raised $4 million in seed funding. Baldwin Risk Partners and BrokerTech Ventures led the round.
- AppBrilliance, an Austin-based payments technology startup, raised $3 million in seed funding. Investors including Studio VC.
. . .
Care:
- The Carlyle Group invested over $250 million in Pharmapacks, a New York-based ecommerce platform and retail seller, valuing the latter at about $1.1 billion.
- Carbon Health, a San Francisco-based primary and urgent healthcare provider, raised $100 million in Series C funding. Dragoneer Investment Group and was joined by investors including Brookfield Technology Partners, DCVC, and Builders VC.
- Eko, an Oakland, Calif.-based cardiopulmonary digital health company, raised $65 million in Series C funding. Highland Capital Partners and Questa Capital led the round and were joined by investors including Artis Ventures, DigiTx Partners, NTTVC, and 3M Ventures.
- Buoy Health, a Boston, Mass.-based symptom checker using A.I., raised $37.5 million in Series C funding. Cigna Ventures and Humana led the round and were joined by investors including Optum Ventures, WR Hambrecht + Co, and Trustbridge Partners.
- Solv, a San Francisco-based healthcare platform connecting patients to healthcare providers, raised $27 Million in extended Series B funding. Acrew Capital led the round and was joined by investors including MultiCare Health System, Light Street Capital, Benchmark, and Greylock Partners.
- Springtide, a New York-based practice treating children with autism spectrum disorder, raised $18.1 million in Series A funding. Deerfield Management Company and Optum Ventures led the round.
- Bond Vet, a New York-based animal health company, raised $17 million in Series A funding. Talisman Capital Partners led the round.
- Didactic, an Austin-based e-learning company co-founded by Udemy co-founder Gagan Biyani and AltMBA co-founder Wes Kao, raised $4.3 million in seed funding. First Round led the round. Read more.
- Spora Health, a healthcare provider focused on people of color, raised $1.2 million in seed funding. Human Ventures backs the firm. Read more.
. . .
Future of Work:
- Scale AI, a San Francisco-based startup that helps train A.I. systems, has received investment offers from Tiger Global Management that could value it at above $3 billion valuation. Read more.
- SentinelOne, a Mountain View, Calif.-based maker of machine learning-based solutions, raised $267 million in funding valuing it at over $3 billion. Investors include Tiger Global, Sequoia, Insight Partners, Third Point Ventures and Qualcomm Ventures. Read more.
- Vista Equity Partners made a majority investment inPipedrive, a London-based content management platform for sales and marketing teams. The deal values the firm at $1.5 billion, per a source. Bessemer Venture Partners, Insight Partners, Atomico, DTCP, and Rembrandt Venture Partners, will continue as minority investors.
- Hopin, a U.K.-based maker of virtual event software, has raised $125 million in Series B funding led by IVP and Tiger Global, with Coatue, GIC, and Temasek also participating. It's now valued at more than $2 billion. http://axios.link/7ciy
- Menlo Security, a Mountain View, Calif.-based cloud security firm, raised $100 million in Series E funding, valuing the company at $800 million. Vista Equity Partners led the round and was joined by investors including Neuberger Berman funds, General Catalyst, and JPMorgan.
- JumpCloud, a Denver-based cloud-based user management model, raised $75 million in Series E funding. BlackRock led the round and was joined by investors including General Atlantic.
- Remote, a San Francisco-based maker of an HR technology platform for international payroll, benefits and compliance, raised $35 million in Series A funding. Index Ventures led the round and was joined by investors including Sequoia Capital, Aaron Levie, Zach Weinberg, Kevin and Julia Hartz, General Catalyst, and Two Sigma Ventures.
- Popshop, a Los Angeles-based live-shopping startup, has reportedly raised a Series A round that values it at about $100 million. Andreessen Horowitz and Lightspeed Ventures led the round. Read more.
- Venminder, an Elizabethtown, Ky.-based risk management solution, raised $33 million in Series C funding. Silversmith Capital Partners led the round and was joined by investors including Bain Capital Ventures and MissionOG.
- Cellwize Wireless Technologies, a Dallas-Texas-based mobile network automation and orchestration company, raised $32 million in Series B funding. Intel Capital and Qualcomm Ventures led the round and were joined by Verizon Ventures and Samsung Next.
- Fishtown Analytics, Philadelphia-based maker of engineering tools, raised $29.5 million in Series B funding. Sequoia Capital led the round and was joined by investors including Andreessen Horowitz and Amplify Partners. Read more.
- Isovalent, a Mountain View, Calif.-based cloud-native networking company, raised $29 million in Series A funding. Andreessen Horowitz and Google led the round and were joined by Cisco Investments.
- PassiveLogic, a Salt Lake City-based maker of creators of an automated building controls platform, raised $16 million in Series A funding. Keyframe Capital and Addition led the round.
- Mind Foundry, an Oxford, U.K.-based A.I. company spun out of the University of Oxford’s Machine Learning Research Group, raised $13.6 million in Series A funding. Aioi Nissay Dowa Insurance Co. led the round and was joined by investors including Parkwalk Advisors, Oxford Sciences Innovation, the University of Oxford, and the Oxford Technology and Innovations EIS Fund.
- Lightico, a London-based customer experience platform, raised $12.6 million. Oxx led the round and was joined by investors including Capital One Ventures and Harmony Partners.
- Tailscale, a Toronto-based corporate VPN for remote teams, raised $12 million in Series A funding. Accel led the round and was joined by investors including Heavybit and Uncork Capital.
- GuideCX, a Salt Lake City, Ut.-based platform for customer onboarding, raised $10 million in Series A funding. Sorenson Ventures led the round and was joined by investors including Epic Ventures, Orchard Ventures, Album VC and Prelude.
- Nana Technologies, a San Francisco-based maker of an online vocational school and appliance repair marketplace, raised $6 million in seed funding. Shripriya Mahesh of Spero Ventures led the round and was joined by investors including Next Play Ventures, Lachy Groom, Scott Belsky, Geoff Donaker (of Burst Capital), and Michael Staton (of Learn Capital).
- Spruce, an Austin-based house care and amenities platform, raised $8 million in Series A funding. Mercury Fund led the round and was joined by investors including Sweat Equity Partners.
- Local Logic, a Montreal-based location intelligence platform for for homebuyers, real estate professionals, and developers, raised about C$7 million ($5.4 million) in funding. GroundBreak Ventures led the round and was joined by investors including Shadow Ventures, BDC Capital, Jones Boys Ventures, Cycle Capital, and Desjardins Capital.
- Slintel, a Mountainview, Calif.-based platform determining when potential b2b clients are buying, and what, raised $4.2million. Accel led the round and was joined by investors including Sequoia Capital India and Stellaris Ventures.
- Reprise, a Boston-based demo creation platform company, raised $3.2 million in seed funding. Glasswing Ventures and Accomplice Ventures led the round.
- OthersideAI, a Syracuse, N.Y.-based tool for fleshing out emails, raised $2.6 million. Madrona Venture Group led the round and was joined by investors including Active Capital, Hustle Fund, and Chapter One.
- Sote, an African supply chain focused company, raised $3 million in seed funding. MaC Venture Capital led the round and was joined by investors including Acceleprise, Backstage Capital, Future Africa, and Rob Solomon.
. . .
Sustainability:
- Kate Farms, a Santa Barbara, Calif.-based maker plant-based nutrition, raised $51 million in Series B funding. Goldman Sachs led the round and was joined by investors including Kaiser Permanente Ventures.
- Envoy Technologies, a Culver City, Calif.-based, provider of electric vehicle-sharing services, raised $11 million in Series A funding. Shell Ventures and Building Ventures led the round.
- Zero Egg, a San Francisco, Calif.-based maker of a plant-based egg alternative, raised $5 million in Series A funding. Powerplant Ventures led the round and was joined by investors including Unovis Asset Management-New Crop Capital and Strauss Group-The Kitchen Hub.
Acquisitions:
- Adobe (Nasdaq: ABDE) agreed to acquire Workfront, a Lehi, Ut.-based work management platform for marketers, for $1.5 billion.
- Uber Technologies $2.7 billion acquisition of Postmates, the food delivery company received the go-ahead from the U.S. Justice Department. Read more.
- CVC Capital Partners is weighing a sale of its majority stake in Kount, a U.S.-based cybersecurity company, that could value the latter at over $750 million including debt, per Reuters. Read more.
- Spotify agreed to acquire Megaphone, a provider of podcast advertising and publishing, for $235 million.
- Snap agreed to acquire Voca.ai, an Israel-based maker of A.I.-based voice assistance for customer support services. Voca.ai’s investors included American Express Ventures, Flint Capital, and Iool Ventures. Read more.
- Palo Alto Networks (NYSE: PANW) plans to acquire Expanse, a San Francisco-based maker of cybersecurity software, for $670 million in cash and stock and $130 million in replacement equity awards. Expanse was backed by investors including Knoll Ventures and NEA. Read more.
. . .
IPOs:
- Instacart, a San Francisco-based grocery delivery company, is gearing up for an IPO next year that could value it at about $30 billion, per Reuters. Its investors include Sequoia Capital, Andreessen Horowitz and D1 Capital Partner. Read more.
- Airbnb, the home sharing firm preparing for a Nasdaq debut, is also considering a listing in 2021 on the Long-Term Stock Exchange, per Bloomberg. Read more.
. . .
SPACs:
- Cano Health, a Miami-based healthcare provider for seniors, will go public via merger with Jaws Acquisition Corp, a SPAC, valuing the firm at $4.4 billion deal including debt. Cano Health will also receive a $50 million PIPE investment from Barry Sternlicht (Chairman of Jaws), Fidelity Management & Research Company, BlackRock, Third Point, and Maverick Capital.
Funds:
- Bentley Systems (Nasdaq: BSY) established a $100 million corporate venture capital fund seeking solutions for roadways, railways, waterways, bridges, utilities, industrial facilities, and other infrastructure assets.
- Greenoaks Capital Partners is raising $850 million for its third growth-stage fund, per a public pension document. http://axios.link/x7lc
-Insight Partners is raising its first fund to invest in structured preferred equities, with an $850 million target and $1.25 billion hard cap, per a public pension document. http://axios.link/XFSJ
- Better Tomorrow Ventures, a fintech-focused VC firm co-founded by Jake Gibson (co-founder of NerdWallet) and Sheel Mohnot (ex-500 Startups), raised $75 million for its debut fund. http://axios.link/P39G