Sourcery (2/15-2/19)
Public.com, Blockfi, Leaselock, Kalshi, Titan, Marble, Eden Health, Cohort, SpaceX, Standard Cognition, Axiom Space, Copado, Sentry, Ally.io, Replit, Reprise, Census, Strata*, Dandelion Energy, Redefi
Last Week (2/15-2/19):
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 Public.com, Blockfi, Leaselock, Kalshi, Titan, Marble, Eden Health, Cohort, SpaceX, Standard Cognition, Axiom Space, Copado, Sentry, Ally.io, Replit, Reprise, Census, Strata*, Dandelion Energy, Redefine Meat. Knoq, Sqreen, CoreLogic. Owlet Baby Care.
Final numbers on SPAC Underwriters at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Public.com, a New York-based stock trading platform with a social element, raised $220 million in Series D funding. Investors included Accel, Greycroft, and Lakestar, Intuition Capital, Tiger Global, The Chainsmokers’ Mantis VC, Will Smith’s Dreamers VC, Inspired Capital, Aglae Ventures, and Phil DeFranco.
- BlockFi, a San Francisco-based crypto financial services company, is reportedly looking to raise $150 million, valuing it around $2.9 billion pre-money, per the Block. Read more.
- Blockchain.com, a London-based cryptocurrency wallet operator and blockchain company, raised $120 million. Investors included Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV, Lakestar, and Eldridge.
- Boast.ai, a San Francisco-based company helping businesses find R&D tax breaks, raised $100 million. Brevet Capital led the round.
- LeaseLock, a Marina Del Rey, Calif.-based real estate insure-tech platform, raised $52 million in Series B funding. Westerly Winds and Wildcat Venture Partners co-led, and were joined by SoftBank Ventures Asia, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Strata Equity Group, Veteran Capital and Mucker Capital. www.leaselock.com
- Kalshi, a San Francisco-based betting site, raised $30 million in Series A funding. Sequoia led the round and was joined by investors including Charles Schwab (chairman of Charles Schwab Corporation), Henry Kravis (co-chairman & co-CEO of KKR), SV Angel, Neo, and YC Continuity.
- Photomath, a San Francisco-based maker of a math learning app, raised $23 million in Series B funding. Menlo Ventures led the round and was joined by investors including GSV Ventures, Learn Capital, Cherubic Ventures, and Goodwater Capital.
- Promise, an Oakland, Calif.-based payments company for local governments and utilities, raised $20 Million in Series A funding. Kapor Capital and XYZ led the round and were joined by Bronze, First Round, and Y Combinator.
- SeedFi, a San Francisco-based credit and savings startup, raised $15 million in Series A funding. Andreessen Horowitz led the round and was joined by investors including Flourish, Core Innovation Capital, and Quiet Capital.
- Zolve, a fintech, raised $15 million in seed funding. Accel and Lightspeed led the round and was joined by investors including Blume Ventures.
- Titan, a New York-based operating system for active investment management, raised $12.5 million in Series A funding. General Catalyst led the round and was joined by investors including Sound Ventures, Scribble VC, BoxGroup, Y Combinator, South Park Commons, Instagram founder Mike Krieger, Lee Fixel, Kevin Hartz, and Josh Reeves.
- Mundi, a New York-based trade fintech company, raised $7.8 million in seed funding. Base10 led the round and was joined by investors including FJ Labs.
- Marble, a New York-based digital wallet and loyalty platform for insurance, raised $2.5 million in seed funding. Investors include IA Capital Group, MS&AD Ventures, Reciprocal Ventures, Fintech Ventures Fund, The Takoma Group, and HU Investments.
- Rx Redefined, an Oakland, Calif.-based prescription software platform, raised $2 million in seed funding. Silverton Partners led the round and was joined by investors including Saturn Five.
. . .
Care:
- Eden Health, a New York-based direct-to-employer medical provider, raised $60 million in Series C funding. Insight Partners led the round and was joined by investors including Amigos Health, Aspect Ventures, Company Ventures, Flare Capital, Flexcap Ventures, Max Ventures, and PJC.
- Cohort, a San Francisco-based virtual care scaling company, raised $11 million in Series B funding. F-Prime Capital led the round and was joined by investors including Town Hall Ventures.
- Ozette, a Seattle-based creator of a monitoring platform for healthcare therapies, raised $6 million in seed funding. Madrona Venture Group led the round and was joined by investors including Allen Institute for Artificial Intelligence and Vulcan Capital.
- Pawlicy Advisor, a New York-based pet insurance marketplace, raised $6.5 million in Series A funding. Rho Capital Partners led the round and was joined by investors including Defy Partners and Slow Ventures.
- Talkiatry, a New York-based provider in-network psychiatric care, raised $5 million in Series A funding. Sikwood Capital Partners led the round and was joined by investors including Relevance Ventures and Richard Park, M.D., founder and former CEO of CityMD.
- PayZen, a San Francisco, Calif.-based healthcare payments tech company, raised $5 million in seed funding. Viola Ventures incubated the business, with additional funding from Picus Capital and TWO39 Ventures.
- Botco.ai, a Scottsdale, Ariz.-based healthcare conversational marketing tool, raised $2.2 million in seed funding. Stout Street Capital led the round, with participation from Sterling Road, PHX Ventures, and Arizona Tech Investors.
- Pattern Health, a Durham, N.C.-based digital health company, raised $1.5 million. Cofounders Capital and The Launch Place were the investors.
. . .
Future of Work:
- SpaceX, the Hawthrone, Calif., space travel company, raised $850 million, per CNBC. The deal values the company at $74 billion. Read more.
- Standard Cognition, a San Francisco, Calif.-based provider of autonomous checkout, raised $150 million in Series C funding. SoftBank Vision Fund 2 led the round and was joined by investors including CRV, EQT Ventures,TI Platform Management, and SK Networks.
- OutSystems, a Boston-based application development platform, raised $150 million. Abdiel Capital and Tiger Global co-led the round, valuing the firm at $9.5 billion.
- Locus Robotics, a Wilmington, Mass.-based warehouse robotics company, raised $150 million in Series E funding, valuing it at $150 million. Tiger Global Management and BOND were the investors.
- Axiom Space, a Houston-based maker of a commercial space station, raised $130 million in Series B funding. C5 Capital led the round and was joined by investors including TQS Advisors, Declaration Partners, Moelis Dynasty Investments, Washington University in St. Louis, The Venture Collective, Aidennlair Capital, Hemisphere Ventures, and Starbridge Venture Capital.
- Matillion, an U.K.-based cloud data integration platform, raised $100 million in Series D equity and debt. Lightspeed Venture Partners led the round and was joined by those including Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Silicon Valley Bank UK Branch. The company declined to disclose the balance of debt vs. equity.
- Copado, a Chicago-based DevOps platform, raised $96 million in Series B funding. Insight Partners and Salesforce Ventures led the round.
- Red Canary, a Denver, Colo.-based provider of enterprise security solutions, raised $81 million in Series C funding. Summit Partners led the round and was joined by investors including Noro-Moseley Partners and Access Venture Partners.
- Sentry, a San Francisco-based maker of an application monitoring platform, raised $60 million in Series D funding valuing it at $1 billion. Accel and New Enterprise Associates led the round and were joined by Bond.
- vArmour, a Los Altos, Calif.-based cybersecurity company, raised $58 million. AllegisCyber Capital and NightDragon led the round and were joined by Standard Chartered Ventures, Highland Capital Partners, Telstra, Redline Capital, and EDBI.
- Ally.io, a Seattle-based maker of goal-setting software for businesses, raised $50 million in Series C funding. Greenoaks Capital led the round and was joined by investors including Tiger Global, Madrona Venture Group, Accel, Addition Ventures, Founders’ Co-Op, and Vulcan Capital.
- Metropolis, a Los Angeles-based startup focused on valet parking, raised $41 million in Series A funding. 3L led the round and was joined by investors including Starwood Capital, Dick Costolo of 01 Advisors, Dragoneer, Slow Ventures, Zigg Capital, DivcoWest, RXR (Scott Rechler), and CEO of Sidewalk Labs Dan Doctoroff.
- Unybrands, a Miami-based acquirer of e-commerce businesses looking to scale on and off Amazon, raised $25 million. Investors included Nordstar, Dia Ventures, Nathan Blecharczyk of Airbnb, 166 2nd Financial Services, Day One Ventures, and Benvolio Group.
- Knock, a Seattle-based developer of property management software, raised $20 million. Fifth Wall Ventures led the round and was joined by investors including Madrona Venture Group, Lead Edge Capital, Second Avenue Partners, and Seven Peaks Ventures.
- Replit, a San Francisco-based programming software startup, has raised $20 million in Series A funding led by A.Capital Ventures, with Andreessen Horowitz, YCombinator, Reach Capital, Bloomberg Beta, Paul Buchheit, Gmail Founder, and Paul Graham also participating. www.repl.it
-Reprise, a Boston-based maker of no-code tools for sales and marketing, has raised $17 million in Series A funding led by Bain Capital Ventures, with Glasswing Ventures and Accomplice VC also participating. www.getreprise.com
- Solidatus, a London-based data management company, raised £14 m ($19.2 million) in Series A funding. AlbionVC led the round and was joined by investors including HSBC Ventures and Citi.
- Interplay Learning, an Austin-based training platform for trade workers, raised $18 million in Series B funding. Owl Ventures and S3 Ventures led the round and were joined by Strada Education Network and The Venture Reality Fund, SJF Ventures, Sierra Ventures, Holt Ventures, Wild Basin Investments, and Shelter Capital Partners. Read more.
- Census, a San Francisco-based data automation company, raised $16 million in Series A funding. Sequoia Capital led the round and was joined by investors including Andreessen Horowitz.
- Commsor, a New UYork-based platform for managing online communities, raised $16 million in funding. Felicis Ventures’ Niki Pezeshki and Seven Seven Six led the round.
- 1Kosmos, a Somerset, N.J.-based cybersecurity company for digital identity proofing and passwordless authentication, raised $15 million in Series A funding. ForgePoint Capital led the round.
- AdmitHub, a Boston-based maker of a chatbots for student engagement at universities, raised $14 million in Series B funding. Rethink Education led the round and was joined by investors including ECMC Group’s Education Impact Fund and Kresge Foundation’s impact investment fund.
- Strata, a Boulder, Colo.-based multi-cloud identity management company, raised $11 million in Series A funding. Menlo Ventures led the round and was joined by investors including ForgePoint Capital.
- SPHERE, a Hoboken, N.J.-based cybersecurity business, raised $10 million in Series A funding. ForgePoint Capital led the round.
- Torii, an Israel-based Saas management software maker, raised $10 million in Series A funding. Wing Venture Capital led the round and was joined by investors including Entree Capital, Global Founders Capital, Scopus Ventures, and Uncork Capital. Read more.
- Edgybees, a Gaithersburg, Md.-based provider of geo-tagging and visual augmentation of aerial videos, raised $9.5 million in Series A funding. Seraphim Capital led the round and was joined by investors including Refinery Ventures, LG Technology Ventures, Kodem Growth Partners, OurCrowd, and Verizon Ventures.
- Krisp, a Berkeley-based noise removal app, raised $9 million in Series A-1 funding. RTP Global led the round.
- Mirato, a Tel Aviv-based provider of third-party risk management software, raised $9 million in funding. Grove Ventures and Janvest Capital Partners led the round and were joined by American Express Ventures and iAngels.
- Sh1ft, a San Francisco-based marketplace for blue collar jobs, raised $5.2 million in initial seed funding. City Light Capital and JAM Fund led the round.
- GoContractor, a New York-based construction worker onboarding and compliance tracking software maker, raised $5 million in Series A funding. Building Ventures and Ironspring led the round.
- Citadel, a San Francisco-based provider of employment and income verification software, raised $3.5 million in seed funding. Abstract Ventures and Fathom VC led the round.
- Realm, a New York-based homeowners, raised $3 million in seed funding. Investors included Primary Venture Partners, Lerer Hippeau, and Liberty Mutual Strategic Venture Partners.
. . .
Sustainability:
- Dandelion Energy, a Peekskill, N.Y.-based geothermal company, raised $30 million in Series B funding. Breakthrough Energy Ventures led the round and was joined by investors including GV, NEA, Lennar Corporation, Collaborative Fund, Building Ventures, Catchlight Ventures, and GroundUp.
- Redefine Meat, an Israeli 3D printed meat substitute startup, raised $29 million in Series A funding. Happiness Capital and Hanaco Ventures led the round and was joined by investors including CPT Capital, Losa Group, Sake Bosch, and K3 Ventures.
- SUPER73, an Irvine, Calif.-based electric bike company, raised $20 million. Volition Capital invested.
Acquisitions:
- Ad Practitioners acquiredKnoq, a Boston-based maker of a door-to-door sales platform. Knoq has been backed by Haystack VC, Initialized Capital, Liquid2, Fathom Capital, and Background Capital.
- Zillow Group, Inc. (Nasdaq: Z), agreed to acquire ShowingTime.com, a Chicago-based maker of an online scheduling platform for home showings, for $500 million. Its backers have included LaSalle Investment Management and Vencore Capital.
- Datadog (NYSE: DDOG) acquired Sqreen, a San Francisco-based cybersecurity company. Sqreen’s investors have included Greylock Partners and Blossom Capital. Financial terms weren't disclosed.
- Datadog (NYSE: DDOG) acquired Timber Technologies, a Brooklyn, N.Y.-based data observability platform. Investors of Timber Technologies included NextView Ventures. Financial terms weren't disclosed.
- CoStar Group (Nasdaq: CSGP) offered to acquire CoreLogic (NYSE: CLGX), a real estate data company, for $6.9 billion in all-stock, above a $6 billion offer CoreLogic and private equity firms Stone Point Capital and Insight Partners previously agreed to offer. Read more.
. . .
SPACs:
- Sharecare, an Atlanta-based digital health company, plans to go public via merger with Falcon Capital Acquisition, a SPAC, valuing it at $3.9 billion.
- Owlet Baby Care, a Lehi, Ut.-based maker of nursery monitoring equipment and clothing, agreed to go public via merger with Sandbridge Acquisition, a SPAC formed by Sandbridge Capital. The SPAC values the company around $1.1 billion.
- Lucid Motors, a luxury electric vehicle maker, is nearing a deal to go public with Michael Klein’s Churchill Capital IV at a $12-billion valuation, per Reuters. Read more.
- Sixth Street Partners has sued Dyal Capital Partners as it seeks to block the latter’s proposed merger with Owl Rock Capital, a direct lender, and their deal to go public via Altimar Acquisition. The deal is valued at $12.5 billion. Read more.
- Origin Materials, a West Sacramento, Calif.-based maker of carbon negative materials, agreed to go public with Artius Acquisition, a SPAC, valuing it at $1.8 billion.
- AEye, a Dublin-based LiDAR company, plans to go public via merger with CF Finance Acquisition III, a SPAC valuing it at $2 billion. AEye investors include Kleiner Perkins, Continental AG, LG Electronics, SK Hynix, Pegasus Ventures, and Airbus Ventures.
Funds:
- Nationwide, the Columbus, Oh.-based insurer, expanded its venture capital investment fund to $350 million. It was created as a $100 million fund in 2017.
- Boldstart Ventures, a New York-based software venture capital firm, has raised $230 million for its fifth flagship fund and an opportunities fund. www.boldstart.vc
- 01 Advisors, the fund by Dick Costolo and Adam Bain, closed their second fund with $325 million. Read more.
- Ironspring Ventures, a Texas-based venture firm, raised $60 million to focus on industrial technologies.
- Battery Ventures, a Boston-based investment firm, closed Battery Ventures Select Fund I, a fund for topping up its later-stage companies, with $400 million.
-Avid Ventures raised $68 million in funding. Read more.
Final Numbers: SPAC underwriters 2020-2021
Source: SPAC Research. Data for 2020-2021. If only 2021 were included, Citi would have the top spot, followed by Goldman Sachs and Credit Suisse.