Sourcery (12/14-12/18)
Paxos, Oscar, GoCardless, Bestow, Public, Openly, Lyra, H1, Modern Health, Workit Health, StockX, Discord, BigID, Noname Security, DASH, Storyboard, Hashnode, Grove Collaborative, ClearTrace, Joro...
Last Week (12/14-12/18):
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 Paxos, Oscar, GoCardless, Bestow, Public, Openly, Lyra, H1, Modern Health, Workit Health, StockX, Discord, BigID, Noname Security, DASH, Storyboard, Hashnode, Grove Collaborative, ClearTrace, Joro, Recycleye. Wish, Poshmark, Upstart, UI Path, Coinbase. Barkbox.
Final numbers on Bitcoin Price at the bottom. HODL.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Paxos, a New York-based blockchain infrastructure company, raised $142 million in Series C funding. Declaration Partners led the round and was joined by investors including Mithril Capital, PayPal Ventures, RIT Capital Partners, Ken Moelis, Alua Capital, and Senator Investment Group.
- Oscar, a New York-based health insurance company, raised $140 million. Tiger Global Management led the round and was joined by investors including Dragoneer, Baillie Gifford, Coatue, Founders Fund, Khosla, Lakestar, and Reinvent.
- GoCardless, a U.K.-based recurring payments company, raised $95 million in Series F funding. Bain Capital Ventures led the round.
- Lydia, a Paris-based fintech, raised an additional $86 million in Series B funding. Accel led the extension.
- LendingHome, a San Francisco-based mortgage marketplace lender, raised $75 million in Series E funding led by Benefit Street Partners. It also promoted COO/CFO Michael Bourque to CEO, with co-founder Matt Humphrey to continue serving on the board. http://axios.link/6Qoo
-Bestow, a Dallas-based life insurance startup, raised $70 million in Series C funding from Breyer Capital, Valar Ventures, NEA, Core Innovation Ventures, Morpheus Ventures and Sammons Financial. http://axios.link/BgDI
-Public, a social-focused stock trading service, raised $65 million in Series C funding led by existing backer Accel. http://axios.link/cB8D
- Openly, a Boston-based homeowners insurance company, raised $40 million in Series B funding. Advance Venture Partners led the round and was joined by investors including Gradient Ventures, Obvious Ventures, PJC, and Greenlight Re.
- Self Financial, an Austin, Texas-based startup that helps consumers establish and build credit history, raised $40 million in Series D funding. Meritech Capital Partners led, and was joined by insiders Altos Ventures, Conductive Ventures and Silverton Partners. http://axios.link/GZ0a
-Provide (fka Lendeavor), a San Francisco-based provider of finance solutions for healthcare practices, raised $34 million in Series A and B funding. QED Investors led, and was joined by Fifth Third Bank, Montage Ventures and Clocktower Technology Ventures.www.lendeavor.com
-Zilch, a London-based buy now, pay later startup, raised $30 million from firms like Gauss Ventures. http://axios.link/sbq0
- Ramp, a New York-based corporate card company, raised $30 million in funding from D1 Capital and Coatue Management.
- Salary Finance, a U.K.-based fintech company, raised $27 million in Series D funding. Experian and Legal & General led the round.
- Taxdoo, a Germany-based automated platform for financial compliance in e-commerce, raised $21 million (€17 million) in Series A funding. Accel led the round and was joined by investors including Visionaries Club, 20VC and existing investor HTGF.
- IRALOGIX, a Pittsburgh, Penn.-based provider of software for IRA accounts, raised $7.5 million in Series B funding. Great North Labs led the round and was joined by investors including Trog Hawley Capital, Riverfront Ventures, and Circadian Ventures.
- Avenue 8, a San Francisco-based residential real estate brokerage, raised $4 million in seed funding. Craft Ventures, Zigg Capital, and Good Friends invested.
- PLNAR, an Austin-based company using A.I. and V.R. in home insurance and inspections, raised $3.5 million in Series A funding. Investors included Dallas Venture Capital.
- Cledara, a London-based purchase and management platform, raised $3.4 million in funding. Nauta Capital led the round and was joined by Anthemis.
- Homebuyer, a Cincinnati, Oh.-based maker of software for digital mortgages to first-time home buyers, raised $1.4 million in seed funding. Investors included BetterLife Group, Techstars, and Saturn Five.
- Gr4vy, a cloud payments company, raised $1.1 million. Activant Capital and Global Founders Capital led the round.
. . .
Care:
- Lyra Health, a Burlingame, Calif.-based mental health company, filed to raise a $175 million in Series E valuing it around $2.3 billion. Read more.
- Zenoti, a Bellevue, Wash.-based management platform for the beauty and wellness industry, raised $160 million in Series D funding, valuing it at over $1 billion. Advent International led the round and was joined by investors including Tiger Global and Steadview Partners.
- H1, a New York-based maker of a tech platform for healthcare organizations, raised $58 million in Series B funding. IVP and Menlo Ventures led the round and were joined by Transformation Capital, Lux Capital, Lead Edge Capital, Novartis dRx, and Y Combinator.
- Modern Health, a mental health benefits platform, raised $51 million in Series C funding. Battery Ventures led, and was joined by Felicis Ventures, Kleiner Perkins, Founders Fund, 01 Advisors, Afore Capital, and Okta’s Frederic Kerrest.www.modernhealth.com
- Cargo.one, a Berlin-based maker of a digital booking platform for air cargo, raised $42 million in Series B funding. Bessemer Venture Partners led the round and was joined by investors including Index Ventures, Creandum, Point Nine, and Next47.
- Cypress.io, an Atlanta, Ga.-based testing framework for software developers, raised $40 million in Series B funding. OpenView Venture Partners led the round.
- Lyte, a San Francisco-based maker of a ticketing platform for live events, raised $33 million in Series B funding. Investors include Social Capital, musician Quincy Jones,Rocketship VC, Jackson Square Ventures, Accomplice, and Correlation Ventures.
- Curai Health, a Palo Alto-based telehealth startup, raised $27.5 million in Series B funding. Morningside Ventures led, and was joined by insiders General Catalyst and Khosla Ventures. www.curaihealth.com
- Well Dot, a Chapel Hill, N.C.-based health guide company, raised $26 million in Series A funding. Investors included General Catalyst, John Doerr, Mosaic Health Solutions, and partners of Hellman & Friedman. A healthcare IT startup led by former Caesar’s Entertainment CEO Gary Loveman, but raised a total of $40 million in Series A equity and debt funding from backers like General Catalyst, John Doerr, Mosaic Health Solutions. www.well.co
- Diameter Health, a Farmington, Conn.-based clinical insights and data company, raised $18 million in Series B funding. Centene Corporation led the round and was joined by investors including Optum Ventures, LRVHealth, Connecticut Innovations, and Activate Venture Partners.
- Workit Health, an Ann Arbor, Mich.-based virtual substance use disorder care provider, raised $12 million. FirstMark Capital led the round and was joined by investors including Lux Capital, GingerBread Capital, Blue Cross and Blue Shield Venture Partners as well as actor Rob Lowe. Read more.
- Sesh, a San Francisco-based mental health company, raised $3 million in seed funding. Polaris Partners led the round.
- Lantern, a New York City-based startup focused on death planning, raised $2.3 million. Draper Associates led the round and was joined by investors including Amplify, XFactor Ventures, and F7 Ventures.
- SnapNurse, an Atlanta-based nurse staffing platform, raised $2 million from Pivotal Group. www.snapnurse.com
-Socially Determined, a Washington, D.C.-based social risk analytics company, raised an undisclosed amount of funding from TransUnion Healthcare (NYSE: TRU). www.sociallydetermined.com
. . .
Future of Work:
- StockX, a Detroit-based online marketplace for shoes and accessories, raised $275 million in Series E funding at a $2.8 billion post-money valuation. Tiger Global led, and was joined by Altimeter Capital, Sands Capital, Whale Rock Capital Management and return backers Battery Ventures, DST Global, Detroit Venture Partners, Galaxy Interactive, GGV Capital, GV, General Atlantic and Marcy Venture Partners. http://axios.link/aq7O
- Discord, a San Francisco-based social media company with a gaming heavy community, raised $100 million. Greenoaks Capital led the round valuing the business at about $7 billion, per a source.
- ClickUp, a San Diego-based project management software maker, raised $100 million in Series B funding. Georgian led the round and was joined by investors including Craft Ventures.
- Brainly, a New York-based online learning company, announced today raised $80 million in Series D funding. Learn Capital led the round and was joined by investors including Prosus Ventures, Runa Capital, MantaRay, and General Catalyst Partners.
- Epirus, a Los Angeles-based maker of software applications for the defense and commercial sectors, raised $70 million in Series B funding. Bedrock Capital led the round and was joined by investors including L3Harris Technologies, Piedmont Capital Investments, 8VC, Fathom Capital, and Greenspring Associates.
- BigID, a New York-based privacy and data protection company, raised $70 million in Series D funding valuing it at over $1 billion. Salesforce Ventures and Tiger Global led the round.
- Vercel, a San Francisco-based developer platform, raised $40 million in Series B funding. GV led the round and was joined by investors including Greenoaks Capital, Bedrock Capital, and Geodesic Capital in addition to existing investors Accel Partners and CRV.
- Noname Security, a Palo Alto, Calif.-based enterprise API security company, raised $25 million in funding from Lightspeed, Insight Partners and Cyberstarts.
- Parsec, a New York-based developer of streaming tech, raised $25 million in Series B funding. Andreesen Horowitz led, and was joined by return backers Lerer Hippeau, Makers Fund, NextView Ventures and Notation Capital. http://axios.link/wEl3
- Indico, a Boston-based maker process automation software, raised $22 million of Series B funding. Jump Capital and Sandbox Ventures led the round and were joined by .406 Ventures, Osage Venture Partners, Hyperplane Venture Capital, Boston Seed Capital, as well as a new investment from Nationwide's venture capital arm.
- CloudTrucks, a San Francisco, Calif.-based virtual trucking company, raised $20.5 million in funding. Caffeinated Capital led the round and was joined by investors including Craft Ventures, Khosla Ventures, SciFi VC, Kindred Ventures, Abstract Ventures, and Better Tomorrow Ventures.
- BoxCast, a Cleveland-based event livestreaming company, raised $20 million in Series A funding led by Updata Partners. http://axios.link/7MBU
- GoFor Industries, a Canadian on-demand and same-day delivery company, raised $20 million ($15.7 million) in Series A funding. Builders VC led the round and was joined by investors including MetaProp, GroundBreak Ventures, Plug & Play Ventures and Panache Ventures.
- Rec Room, a Seattle-based maker of a social gaming platform, raised $20 million in Series C funding. Madrona Venture Group led the round and was joined by investors including Sequoia Capital, First Round Capital, Index, and DAG. Read more.
- Bambee, a Los Angeles-based company offering HR managers, raised $15 million in Series B funding. QED Investors led the round and was joined by investors including Alpha Edison and Mucker Capital.
- Bionic, a Palo Alto, Calif.-based application monitoring company, raised $17 million in funding. Investors include Battery Ventures and Cyberstarts.
- Aware, a Columbus, Oh.-based biometric software company, raised $12 million in Series B funding. Spring Mountain Capital led the round and was joined by investors including Blue Heron Capital, Allos Venture, Draper Triangle Ventures, Ohio Innovation Fund, JumpStart, Rev1 Ventures, and JobsOhio.
-Tive, a Boston-based platform for tracking the condition of shipped products, raised $12 million in Series A funding. RRE Ventures led, and was joined by Two Sigma Ventures and return backers NextView Ventures, Hyperplane Ventures, One Way Ventures and Fathom Ventures.http://axios.link/xJ1G
-Truera, a Redwood City, Calif.-based model intelligence platform, raised $12 million in Series A funding. Wing VC led, and was joined by Data Community Fund, B Capital Group, Harpoon Ventures and return backers Conversion Capital and Greylock. http://axios.link/q2c7
- Passport, a San Francisco-based shipping carrier, raised $12 million in Series A funding. M13 led the round and was joined by investors including Resolute Ventures, Precursor, Kleiner Perkins, RiverPark, and Republic.
- PostHog, a San Francisco-based open source product analytics platform, raised $9 million in a Series A funding. GV led the round and was joined by investors including YC's Continuity Fund, and Jason Warner (CTO of GitHub).
- Projector, a San Francisco-based maker of a collaborative graphic design platform, raised $10 million. Foundry Group led the round and was joined by investors including Mantis Venture Capital, Van Wickle Ventures, Upfront Ventures, Mayfield Fund, and Upside Partnership.
- DASH Systems, a Los Angeles-based airdrop deliveries software company, raised $8 million in seed funding. 8VC led the round and was joined by investors including Tusk Venture Partners, Loup Ventures, Trust Ventures, Perot Jain, and MiLA Capital.
- Motorq, a Palo Alto, Calif.-based API company for cars, raised $7 million in Series A funding. Story Ventures led the round and was joined by investors including FM Capital and Monta Vista Capital.
- LogicGate, a Chicago-based provider of cloud software solutions for automating governance, risk, and compliance, raised $8.8 million in funding. Investors included Greenspring Associates and Silicon Valley Bank.
- Runway, a Brooklyn, New York-based company with video and photo editing tools powered by A.I., raised $8.5 million in Series A funding. Amplify Partners led the round and was joined by investors including Lux Capital and Compound Ventures.
- Tonic, a San Francisco-based maker of synthetic data for testing, raised $8 million in Series A funding. GGV Capital led the round and was joined by Bloomberg Beta, Xfund, Heavybit, and Silicon Valley CISO Investments.
-Supabase, an open-source alternative for Google’s Firebase, raised $6 million led by Coatue. http://axios.link/c8zs
- Metaphor Data, a Menlo Park, Calif.-based search platform for data scientists, raised $5.3 million in seed funding. Amplify Partners and Andreessen Horowitz led the round.
- The Routing Company, a Boston-based startup building routing and vehicle management solutions for transit providers,raised $5 million in a seed round led by The Engine.
- Symbl, a Seattle-based maker of software for real-time transcriptions, raised $4.7 million. Crosscut Ventures led the round and was joined by investors including Alexa Fund, Jump Capital, Third Kind VC, Technexus Ventures, and Flying Fish.
- Dreamdata, a Danish company sales and marketing platform using data and algorithms, raised $4.4 million in funding. InReach Ventures and Crowberry Capital led the round and were joined by Seedcamp, Futuristic.vc, and Preseed Ventures.
- Storyboard, a Palo Alto, Calif.-based company for creating podcasts, raised $4.5 million in seed funding. CRV led the round and was joined by investors including Harry Stebbings (20MinuteVC), Operator Partners, Slack Fund, Dave Ambrose, and Matt Ziskie.
-Deepwave Digital, a Philadelphia-based developer of AI-powered RF and wireless systems, raised $3 million in seed funding. Northrop Grumman and Jumpstart NJ Angel Network co-led, and were joined by Robin Hood Ventures, Ben Franklin Technology Partners and Lehigh Valley Angel Investors. http://axios.link/hK8A
-Nubix, a San Francisco-based developer of edge-native app platforms, raised $2.7 million in seed funding. Tuscan Management led, and was joined by Chevron Technology Ventures. www.nubix.io
- Hashnode, a London-based blogging platform, raised $2.1 million in funding. Sequoia Capital India’s Surge led the round and was joined by investors including Naval Ravikant, Ritesh Arora and Nakul Aggarwal (founders of BrowserStack) as well as Shashank Kumar and Harshil Mathur (founders at Razorpay).
- Revi, a San-Francisco-based startup serving restaurants, raised $2 million in seed funding. Ubiquity Ventures led the round and was joined by investors including Precursor Ventures and Designer Fund.
- Deed, a New York-based maker of a social impact and volunteering platform for businesses, raised $2 million in seed funding. Paua Ventures led the round.
- Perigee, a Boston-based cybersecurity firm, raised $1.5 million. Outsiders Fund's Austin McChord and Teddy Seem led the round and were joined by investors including Westport, Contour Venture Partners, BBG Ventures, Innospark Ventures, Ray Rothrock, and Corey Thomas.
. . .
Sustainability:
- Grove Collaborative, a San Francisco-based seller of natural home and personal care products, raised $125 million, raising its valuation to $1.3 billion. Investors included Counterpoint Global at Morgan Stanley, Sculptor Capital, Nextview Ventures, and Glynn Capital.
- ClearTrace, an Austin-based maker of software company with automated energy and carbon accounting, raised $4 million in Series A funding. Clean Energy Ventures led the round and was joined by investors including Brookfield Renewable Partners.
- Joro, an Oakland, Calif.-based maker of an app for tracking climate impact, has raised $2.5 million in Seed funding. Sequoia Capital led the round. Read more.
- Recycleye, a U.K.-based startup seeking to automate waste sorting, raised £1.2 million in seed funding. MMC Ventures and Playfair Capital led the round.
Acquisitions:
- GoDaddy (NYSE: GDDY) acquired Poynt, a Palo Alto.-based payments company, for $320 million.
- BP (NYSE: BP) acquired a majority stake in Finite Carbon, a Wayne, Pa.-based carbon offset developer that had raised $12 million in VC funding from BP Ventures and TL Ventures. http://axios.link/s8WZ
- Cerner (Nasdaq: CERN) agreed to buy Kantar Health, a data and commercial research consultancy for life sciences, from Kantar Group, a portfolio company of Bain Capital and ACE & Co. www.kantar.com
-MessageBird, a Dutch omnichannel cloud communications platform valued by VCs at $3 billion, acquired Pusher for $35 million. Pusher, a London-based developer of real-time APIs, raised over $11 million from firms like Balderton Captial, Heavybit and Fabric Ventures. http://axios.link/kP3y
-Vroom (Nasdaq: VRM) agreed to buy Vast (aka CarStory), an Austin, Texas-based provider of analytics and digital services to the auto retail industry, for $120 million in cash (60%) and stock. Vast raised $58 million from firms like Capital One Ventures, LeapFrog Ventures and Clearstone Venture Partners. http://axios.link/E2my
-Reddit acquired Dubsmash, a New York-based short-video platform that had raised over $20 million from firms like Index Ventures, Eniac Ventures, Heartcore Capital, Balderton Capital and Sunstone Life. http://axios.link/IXQX
- Kyruus, backed by Francisco Partners, agreed to acquire HealthSparq, a Boston-based healthcare technology company for health plans. Financial terms weren't disclosed.
- Vista Equity Partners agreed to acquire Pluralsight, (NASDAQ: PS) a Silicon Slopes, Ut.-based maker of IT education for workforces, for about $3.5 billion.
- A group of investors including Blackrock, Mubadala Investment, and Goldman Sachs Group plan to take Calisen, a U.K.-based smart metering company, private in a deal valuing it at about 1.43 billion pounds ($1.9 billion).
- Apollo Global Management agreed to refinance Alorica, an Irvine, Calif.-based customer service company. Apollo invested $750 million via equity and debt.
- NEOGOV, backed by Warburg Pincus, acquired PowerDMS, an Orlando, Fla.-based provider of cloud-based compliance software. Financial terms weren't disclosed.
. . .
IPOs:
-Wish, a San Francisco-based mobile shopping app, raised $1.1 billion in its IPO. It priced 46 million shares at $24 (high end of range), for a fully diluted market value of $17.1 billion. It will list on the Nasdaq (WISH), Goldman Sachs as lead underwriter and reports a $176 million net loss on $1.7 billion in revenue for the first nine months of 2020. The company was most recently valued by private investors at $11.2 billion, and raised $1.8 billion from such firms as DST Global, Founders Fund, Formation8, General Atlantic and GGV Capital. http://axios.link/lDvH
- Upstart, a San Mateo, California-based consumer lending platform, raised $240 million in its IPO. It priced 12 million shares at $20 (low end of range), for an initial market cap of $1.45 billion, and will list on the Nasdaq (UPST) with Goldman Sachs as lead underwriter. The company reports $147 million in revenue for the first nine months of 2020, and raised nearly $650 million in VC funding from firms like Third Point Ventures (19.5% pre-IPO stake), Khosla Ventures (8.4%), Rakuten (5.3%), and First Round Capital (5.2%). http://axios.link/ScVz
- Poshmark, a P2P used clothing marketplace, filed for a $100 million IPO. It plans to list on the Nasdaq (POSH) with Morgan Stanley as left lead underwriter. This sets Poshmark up to be one of the first floats of 2021, alongside Affirm and Roblox, with investors able to bet on yet another online marketplace that's benefitted from the pandemic (after overcoming early logistics issues). Financials: Poshmark flipped to its first ever quarterly profit in Q2 2020, reporting $21 million of net income for the first nine months of 2021 — versus a $34 million net loss for the year-earlier period. Revenue was up 28% over that same period.ROI: Redwood City, Calif.-basedPoshmark raised around $160 million in VC funding from Mayfield (26.5% pre-IPO stake), Menlo Ventures (15.8%), Inventus Capital (10.4%), GGV Capital (7.9%), Uncork Capital, Temasek, NFX, and Union Grove Ventures.
-Coinbase, a San Francisco-based digital currency platform, said it filed confidential IPO papers with the SEC. The company has raised over $500 million in VC funding, most recently at an $8 billion valuation. http://axios.link/WdGv
-UiPath, a New York-based developer of robotic process automation software, said it filed confidential IPO papers with the SEC. It's raised in VC funding, most recently at a $10.2 billion valuation. http://axios.link/CMsC
. . .
SPACs:
- BarkBox, a New York-based dog supplies subscription service, agreed to go public via a reverse merger with Northern Star Acquisition Corp. (NYSE: STIC), a consumer-focused SPAC led by magazine vet Joanna Coles and New York Islanders co-owner Jonathan Ledecky, at an enterprise value of around $1.6 billion. BarkBox had raised around $86 million, plus a PPP loan, from backers like August Capital, Founders Circle Capital, RRE Ventures and Resolute Ventures. www.barkbox.com
- Blade, a New York-based helicopter taxing company, agreed to merge with Experience Investment Corp. (NASDAQ: EXPC), a SPAC sponsored by KSL Capital Partners. Investors in the PIPE include affiliates of KSL Capital Partners, Hedosophia, HG Vora Capital Management, and David Geffen. The deal values Blade at about $825 million.
-Tokopedia, an Indonesian e-commerce firm backed by SoftBank Vision Fund, is in talks to go public via a reverse merger with Bridgetown Holdings (Nasdaq: BTWN), a SPAC formed by Theil Capital and Pacific Century, per Bloomberg. The deal could be vworth between $8 and $10 billion. http://axios.link/9rsh
Funds:
- Imaginary Ventures raised $160 million for its second fund.
- XYZ Venture Capital, a San Francisco-based venture firm, raised $80 million for its second fund.
- Sova VC, a London-based venture firm, launched with plans to invest more than €50 million ($61 million) in early stage companies.
- Slack, a San Francisco-based communications company, dedicated $50 million to its second venture capital fund.
Final Numbers
Data: Yahoo Finance; Chart: Axios Visuals