Sourcery (1/4-1/8)
Divvy, SimpleNexus, Syndio, Oxygen, Hinge Health, Abcuro, Carrum Health, Aspen RxHealth, Monument, Lacework, Quantum Metrics, Katerra, Dremio, SalesLoft, Starburst Data, Kong, Glia, Citizen, Chrono...
Last Week (1/4-1/8):
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 Divvy, SimpleNexus, Syndio, Oxygen, Hinge Health, Abcuro, Carrum Health, Aspen RxHealth, Monument, Lacework, Quantum Metrics, Katerra, Dremio, SalesLoft, Starburst Data, Kong, Glia, Citizen, Chronosphere, Teamflow, Boston Metal, Air Protein, New Wave Foods, SilviaTerra. Volterra, StackRox, Quibi, Byte, Mayhem, Breaker, SparkCentral, Billie, Tradeblock. Affirm, Poshmark, Petco. SoFi.
Final numbers on The IPO Gender Gap at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Divvy, a Draper, Ut.-based corporate spend management company, raised $165 million at a valuation of $1.6 billion. Investors included Hanaco, PayPal Ventures, Whale Rock, Schonfeld, NEA, Insight Venture Partners, Acrew, and Pelion.
- SimpleNexus, a Lehi, Ut.-based home sale and mortgage platform, raised $108 million in Series B funding. Insight Partners led the round.
- Groundspeed Analytics, an Ann Arbor, Mich.-based maker of software for the property and casualty insurance industry, raised an undisclosed amount of Series C funding. Insight Partners led the round and was joined by investors including Oak HC/FT.
- Syndio, a Seattle-based equity analysis platform, raised $17.1 million in Series B funding. Bessemer Venture Partners led the round and was joined by investors including Next Play Capital and Concrete Rose Capital.
- Oxygen, a San Francisco-based digital banking startup, raised $17 million in Series A funding. Investors included Runa Capital, S7V, 1984.vc, EFG Hermes, Rucker Park, and Inventures.
. . .
Care:
- Hinge Health, a San Francisco-based health company, raised $300 million in Series D funding. Coatue Management and Tiger Global led the round and were joined by Atomico, Insight Partners, Quadrille, 11.2 Capital, Lead Edge Capital, Bessemer Venture Partners, and Heuristic Capital.
- Color, a San Francisco-based genomics and health company, raised $167 million in Series D funding valuing it at $1.5 billion. General Catalyst led the round and was joined by investors including T. Rowe Price Associates and Viking Global Investors.
- Echelon Fitness, a Chattanooga, Tenn.-based connected fitness company, raised $65 million. Goldman Sachs Growth led, and was joined by insider North Castle Partners. http://axios.link/pz4R
- Abcuro, a Newton, Mass.-based company focused on autoimmune diseases and cancers, raised $42 million in Series A1 funding. Mass General Brigham Ventures and Sanofi Ventures led the round and was joined by investors including Pontifax Venture Capital, Hongsen Investment Group, RA Capital Management, and Samsara BioCapital.
- Carrum Health, a San Francisco-based healthcare payments tech company, raised $40 million. Investors include Tiger Global Management, GreatPoint Ventures, Cross Creek, Wildcat Venture Partners, and SpringRock Ventures. Read more.
- Ablacon, Menlo Park, Calif.-based heart visualization company, raised $30 million in Series B funding. Zeus Health led the round.
- Aspen RxHealth, a Tampa, Fla.-based clinical pharmacy company, raised $23 million in Series B funding. Bessemer Venture Partners led the round.
- Monument, a New York-based digital treatment platform for alcoholism, raised $10.3 million in Series A funding led by VMG Catalyst. http://axios.link/qkJ8
. . .
Future of Work:
- Lacework, a San Jose, Calif.-based security cloud company, raised $525 million valuing it at over $1 billion. Sutter Hill Ventures and Altimeter Capital led the round and were joined by investors including D1, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Snowflake Ventures, and Tiger Capital.
- Rivian, a Plymouth, Mi.-based electric-truck startup backed by Amazon and Ford, is close to raising a new round of funding valuing it at about $25 billion, per Bloomberg citing sources. Read more.
- Quantum Metrics, a cloud-based service to build, test and fix digital products, raised $200 million in Series B funding led by Insight Partners at a valuation north of $1 billion. http://axios.link/kRAq
- Katerra, a Menlo Park, Calif.-based construction company backed by SoftBank, raised $200 million reportedly to stave off bankruptcy. SoftBank Vision Fund 1 led the round.
- Iboss, a Boston-based cloud delivered network security company, raised $145 million led by NightDragon, a VC firm of FireEye and McAfee CEO Dave DeWalt. www.iboss.com
- Dremio, a Santa Clara, Calif.-based data lake company, raised $135 million in Series D funding, bringing the company’s valuation to $1 billion. Sapphire Ventures led the round and was joined by investors including Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, Redpoint Ventures, and Cisco Investments.
- Fluence, an Arlington, Va.-based energy storage company, raised $125 million from the Qatar Investment Authority. http://axios.link/9njQ
- SalesLoft, an Atlanta, Ga.-based platform for sales teams, raised $100 million at a $1.1 billion valuation. Owl Rock Capital led the round and was joined by investors including Insight Partners, HarbourVest, and Emergence Capital.
- Insight Partners invested over $100 million iniLobby, a Toronto-based digital identity company.
- Starburst Data, a Boston, Mass.-based analytics software maker, raised a $100 million in Series C funding. Andreessen Horowitz led the round and was joined by investors including Salesforce Ventures, Coatue, and Index Ventures.
- Pax8, a Denver-based cloud software marketplace for IT pros, raised $96 million. Catalyst Investors and Sageview Capital co-led, and were joined by insiders Blue Cloud Ventures and Liberty Global Ventures. www.pax8.com
- Kong, a San Francisco-based API platform, raised $93 million in new funding, per an SEC filing. Existing backers include Andreessen Horowitz, CRV and Index Ventures. www.konghq.com
- Glia, a New York-based customer service company, raised $78 million in Series C funding. Insight Partners led the round.
- Citizen, a mobile app that provides users with notifications of nearby emergencies and crimes (and lets them livestream video), raised around $73 million in new funding led by Greycroft. http://axios.link/xFFz
- Hipcamp, a site for booking campsites, raised $57 million in Series C funding valuing it at over $300 million, per the Information. Investors include Index Ventures and Bond Capital. Read more.
- AMP Robotics Corp., a Denver-based artificial intelligence and robotics company focused on the waste industry, raised $55 million in Series B funding. XN led the round and was joined by investors including Valor Equity Partners, GV, Sequoia Capital, Sidewalk Infrastructure Partners, Congruent Ventures, and Closed Loop Partners.
- Chronosphere, a New York-based cloud mentoring company, raised $43.4 million in Series B funding. Investors included Greylock, Lux Capital, Lee Fixel, and General Atlantic.
- Tsū Inc., a New York-based content creation social media company, raised $10 million valuing it at $100 million. TerraCap Ventures and Hilco Global led the round.
- Kyte, a Brazilian inventory management software maker, raised $9 million from investors including DN Capital and Amplo VC.
- Caveonix, a Falls Church, Va.-based compliance and security cloud company, raised $7.3 million in Series A funding. First In Capital led the round.
- Voxie, an Atlanta-based text messaging startup, raised $6.7 million in Series A funding. Noro-Moseley Partners led, and was joined by Circadian Ventures and Engage Ventures. http://axios.link/ktE0
- Teamflow, a maker of team collaboration software, raised $3.9 million in seed funding. Investors included Menlo Ventures, Abstract, Elad Gil, and SV Angel.
- Kanarys, a Dallas-based diversity insights company, raised $3 million in seed funding. Zeal Capital Partners’ Inclusive Investing fund led the round and was joined by investors including Revolution's Rise of the Rest Seed Fund, Morgan Stanley, 100 Black Angels Fund, Segal Ventures, and Jigsaw Ventures.
- PAIRIN, a New York-based workforce education company, raised an additional $2.3 million in Series A funding. Investors included Potencia Ventures.
. . .
Sustainability:
- Boston Metal, a startup seeking to lower the carbon footprint of metal production, raised about $50 million of an estimated $60 million round, per an SEC filing. Read more.
- Air Protein, a Pleasanton. Calif.-based alternative meat company, raised $32 million in Series A funding. ADM Ventures, Barclays and GV led the round.
- Too Good To Go, a Denmark-based platform for reducing food waste, raised $31 million led by Blisce. http://axios.link/bJps
- New Wave Foods, a New York City-based maker of a shrimp alternative, raised $18 million in Series A funding. New Enterprise Associates led the round and was joined by investors including Evolution VC Partners.
- SilviaTerra, a forestry company for organizations to exchange carbon offsets, raised $4.4 million seed round with Union Square Ventures' climate-tech fund led the round and was joined by investors including Marc Benioff, Ben Silbermann, Mark Tercek, Scribble Ventures, Gratitude Railroad, Alpha Edison, and CoFound Partners.
-Coral Vita, a Goleta, Calif.-based developer of coral restoration techniques, raised $2 million in seed funding led by Builders Collective. http://axios.link/g6vd
Acquisitions:
- F5 (Nasdaq: FFIV) agreed to buy Volterra, a Santa Clara, Calif.-based distributed cloud services provider, for $500 million (including $440m in cash and $60m in comp-related costs). Volterra raised $50 million from firms like Khosla Ventures, Mayfield and M12. http://axios.link/OWG6
-Red Hat, owned by IBM, agreed to buy StackRox, a Mountain View, Calif.-based developer of Kubernetes-native container security solutions that had raised $60 million from Menlo Ventures, Highland Capital Partners, HP Enterprise, Sequoia Capital and Redpoint Ventures. http://axios.link/hjXH
- Roku (Nasdaq: ROKU) agreed to acquire the rights to stream the content library of defunct Quibi. http://axios.link/fLby
- Dentsply Sirona acquired Byte, a Santa Monica, Calif.-based startup with invisible braces, for about $1 billion in cash. Thermal backed the firm.
-Niantic, creator of Pokémon Go, acquired Mayhem, a San Francisco startup focused on gaming league and tournament organization platform that had raised nearly $6 million from YC, Accel, Afore Capital and NextGen Venture Partners. http://axios.link/GvVf
-Twitter (NYSE: TWTR) acquired Breaker, a San Francisco-based social broadcasting app that had raised seed funding from Arena Ventures, Zeno Ventures, Ace & Co., Shrug Capital, 122 West Ventures, Weekend Fund and Betaworks Ventures. http://axios.link/Cvln
- Gojek and Tokopedia, an Indonesian e-commerce company, are in talks to merge in a $18 billion deal ahead of an IPO, per reports citing sources. Read more.
-Hootsuite, a Canadian social media marketing company, acquired Sparkcentral, a New York-based provider of conversational marketing SaaS. Sparkcentral raised around $38 million from LRM, Group MC, Jackson Square Ventures and Split Rock Partners. www.sparkcentral.com
-Procter & Gamble (NYSE: PG) terminated its agreement to buy women’s razor maker Billie, following an FTC antitrust lawsuit. Billie has raised around $35 million from firms like Goldman Sachs, Lakehouse Ventures, ACME Capital, Female Founders Fund, Serena Ventures and Silverton Partners. http://axios.link/uaXD
-Allegion (NYSE: ALLE) acquired Yonomi, a Boulder, Colo.-based IoT cloud platform company that raised around $12 million from firms like Allegion and Gentex. www.allegion.com
- UnitedHealth Group (NYSE: UNH) agreed to acquire Change Healthcare (NASDAQ: CHNG), a Nashville, Tenn.-based healthcare payments software maker, for about $7.8 billion in cash not including debt. Blackstone backs Change.
- CoinDesk, a New York-based provider of blockchain and crypto content, acquired TradeBlock, a provider of digital asset reference rates. http://axios.link/9D5D
-Hopin, a U.K.-based maker of virtual event software valued by VCs by more than $2 billion, acquired StreamYard, a Canadian live video streaming studio, for $250 million. http://axios.link/TDZC
. . .
IPOs:
-Affirm, a San Francisco-based provider of personal installment loans for online purchases, set IPO terms to 24.6 million shares at $33–$38 per share. It would have a fully diluted market value of $10.6 billion, were it to price in the middle. http://axios.link/I1qn
-NSO Group, the controversial Israeli cybersurveillance company, reportedly is considering a Tel Aviv IPO that could value the business at around $2 billion. Backers include Novalpina Capital. http://axios.link/qr5t
-Poshmark, a P2P used clothing marketplace, set IPO terms to six million shares at $35–$39 per share. It would have a $2.7 billion market cap, were it to price in the middle. The Redwood City, Calif.-based company 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. http://axios.link/L8JH
- Petco Health and Wellness Company, the pet store operator, plans to raise $816 million in an IPO of 48 million shares priced between $14 to $17 each. CVC Capital Partners and Canada Pension Plan Investment Board back the firm.
. . .
SPACs:
- SoFi, a San Francisco-based personal finance company, agreed to go public via a reverse merger with Social Capital Hedosophia Holdings Corp. V (NYSE: IPOE) at an $8.65 billion valuation. This crowns SCH's Chamath Palihapitiya as the king of tech unicorn SPACs, following earlier deals for Virgin Galactic and Opendoor. SoFi CEO Anthony Noto said that the company began raising a new private round last October, with plans to IPO in the second half of 2021, and reached out to Social Capital about participating. Social Capital demurred, saying it wasn't doing much private-market work, but could be interested in a SPAC. By mid-December, the two sides had a deal, with SoFi also securing $270 million in private funding from T. Rowe Price (not part of the reverse merger's $1.2 billion PIPE, but done at same share price). SoFi also spoke seriously with three other SPAC sponsors.
Funds:
- Madrona Venture Group, a Seattle-based venture capital firm, raised $500 million across two funds. It raised $345 million for its eighth fund and $160 million for its second Acceleration Fund.
- USV, a New York-based venture firm, raised $151.3 million for its USV Climate 2021 fund. Read more.
- One Way Ventures, a venture capital firm backing immigrant founders, raised $57.5 million for its second fund. Read more.
- Ludlow Ventures, a Detroit-based seed-stage firm, is raising $65 million for its fourth fund, per an SEC filing. http://axios.link/KCrA
Final Numbers
Source: Business Insider. Data includes listings on NYSE, Nasdaq, Amex and SPACs.
Worthy of your time:The IPO gender gap, by Business Insider's Alyson Shontell