Sourcery (3/1-3/5)
Klarna, Stripe, Clari, Papaya Global, Taxbit, DispatchHealth, Beam Dental, Tyto Care, Fuzzy, Spark Advisors, Hopin, Instacart, Deliverr, Axonius, Yugabyte, Identiq, Stream, Postscript, Cutover, Nuvolo
Last Week (3/1-3/5):
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 Klarna, Stripe, Clari, Papaya Global, Taxbit, DispatchHealth, Beam Dental, Tyto Care, Fuzzy, Spark Advisors, Hopin, Instacart, Deliverr, Axonius, Yugabyte, Identiq, Stream, Postscript, Cutover, Nuvolo, Retail Zipline, Whatnot, Dooly, Around, Looped, Doppler, Airbyte, Ecomedes, Therma. Okta, Square, Atlassian, Next Insurance. Thred Up, Sentinel One, Compass, Robinhood, Oscar, SEMrush. Hippo, Spire, Doma.
Final numbers on Active SPAC Summary and Auto & MobilitySPACs at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Klarna, a Sweden-based payments platform that lets users buy now and pay later, raised $1 billion in funding at a $31 billion valuation. Read more.
- Stripe, the San Francisco-based payments processing fintech, is reportedly in the process of raising between $1 billion and $5 billion in financing for a valuation of over $100 billion, Barron’s reported citing sources. Read more.
- Clari, a Sunnyvale, Calif.-based revenue forecasting startup, raised $150 million at a $1.6 billion valuation. Silver Lake led the round and was joined by investors including B Capital Group, Sequoia Capital, Bain Capital Ventures, and Sapphire Ventures.
- Papaya Global, a Tel Aviv-based workforce management platform, raised $100 million in Series C funding, valuing it above $1 billion. GreenOaks Capital Partners led the round and was joined by investors including IVP Ventures and Alkeon Capital.
- TaxBit, a Salt Lake City, Utah-based cryptocurrency tax and accounting software platform, raised $100 million in Series A funding. Paradigm and Tiger Global led the round, and were joined by investors including PayPal Ventures, Coinbase Ventures, and Winklevoss Capital.
- Minu, a Mexico City-based employee financial wellness company, raised $14 million in Series A funding. FinTech Collective led the round.
- FutureFuel.io, a New York-based student debt focused fintech, raised $10 million in what it calls Series A1 funding. UBS led the round and was joined by investors including Fiserv, Aflac Ventures, and Salesforce Ventures.
- Unslashed Finance, a U.K.-based provider of insurance products for crypto assets, raised $2 million in funding. Investors included Lemniscap, P2P Capital, Bitscale Capital, and Chainlayer.
. . .
Care:
- DispatchHealth, a Denver-based provider of in-home medical care, raised $200 million in Series D funding. Tiger Global led the round valuing it at over $1.7 billion.
- Beam Dental, a Columbus, Ohio-based dental insurer, raised $80 million in Series E funding. Mercato Partners led, and was joined by Drive Capital, Georgian, Nationwide Insurance and Breakout Capital. http://axios.link/Jj7B
- TytoCare, a New York-based maker of a device and telehealth platform for on-demand remote medical examinations, raised $50 million in extended Series D funding. Insight Partners led the round and was joined by investors including Tiger Global Management, Qumra Capital, Qualcomm Ventures, Olive Tree Ventures, and Shenzhen Capital Group Company.
- Fuzzy, a San Francisco-based pet education and health membership platform, raised $18 million in Series B funding. Greycroft led the round, and was joined by investors including Crosscut Ventures, Matrix Partners, Gainsgel and angel investors.
-Spark Advisors, a New York-based retirement Medicare benefits brokerage, raised $3.6 million in funding. Primary Ventures led the round, and was joined by investors including Vine Ventures and Torch Capital.
- MemoryWell, a Washington, D.C.-based digital data platform promoting care through life storytelling, raised $2.5 million in seed funding. Argon Ventures led the round.
- Goldfinch Health, an Austin-based surgery and recovery company, raised $1.4 million in seed funding. BrokerTech Ventures led the round.
. . .
Future of Work:
- Hopin, a London-based virtual events provider, raised $400 million in Series C funding. Andreessen Horowitz and General Catalyst, and was joined by investors including IVP and was joined by investors including Coatue, DFJ Growth, Northzone, Salesforce Ventures, and Tiger Global.
- Instacart, a San Francisco-based grocery delivery company, raised $265 million in new funding from existing investors at a $39 billion valuation. Instacart backers include Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity and T. Rowe Price. This is potentially a pre-IPO round, particularly given that Instacart recently added a pair of independent directors. But so did a $200 million injection last fall at a $17.7 billion valuation. And the $325 million deal last summer at a $13.8 billion valuation.
- Deliverr, a San Francisco-based merchant fulfillment platform, raised $135 million in Series D funding and a $35 million convertible note. Coatue and Brookfield Technology Partners led the financing, and were joined by investors including Activant Capital, 8VC and GLP.
- Axonius, a New York-based cybersecurity management platform, raised $100 million in funding led by Stripes. Read more.
- Snapcommerce, a Toronto-based message-driven mobile commerce platform focused on promotions via mobile, raised $85 million. Inovia Capital and Lion Capital led the round and was joined by investors including Acrew DCF, Thayer Ventures and Full In Partners, and included existing investors Telstra Ventures and Bee Partners.
- JLL invested in Roofstock, an Oakland, Calif.-based online marketplace for real estate. Financial terms weren't disclosed.
- Yugabyte, a Sunnyvale, Calif.-based SQL database company, raised $48 million. Lightspeed Venture Partners led the round and was joined by investors including Greenspring Associates, Dell Technologies Capital, Wipro Ventures, and 8VC.
- Identiq, a Tel Aviv-based identity access management company, raised $47 million in Series A funding. Insight Partners and Entrée Capital led the round and was joined by investors including Amdocs, Sony Innovation Fund by IGV, Vertex Ventures Israel, Oryzn Capital, and Slow Ventures.
- Stream, a Boulder-based creator of enterprise-grade activity feed and chat APIs, raised $38 million in Series B funding. Felicis Ventures’Aydin Senkut led the round and was joined by investors including GGV Capital and 01 Advisors.
- Postscript, a San Francisco-based customer messaging company, raised $35 million in Series B funding. Greylock led the round and was joined by investors including YC, 1984vc, Ali Capital, Elephant VC, and Larry Fitzgerald. Read more.
- Cutover, a London-based workplace organization and analytics platform, raised $35 million in Series B funding. Eldridge led the round, and was joined by investors including Index Ventures, Sussex Place Ventures and Contour Ventures.
- Deposco, a Alpharetta, Ga.-based fulfillment software provider catering to small and midsize businesses, raised $35 million in funding. NewSpring led the round, and was joined by investors including Aspen Capital Group.
- Nuvolo, a Paramus, N.J.-based workplace management software company, raised $31 million in Series C funding. Insight Partners led the round.
- Retail Zipline, a San Francisco-based maker of a retail operations platform, raised $30 million in Series B funding. Fifth Wall led the round and was joined by investors including Emergence Capital, Ridge Ventures, Hillsven Capital, Matt Wallach (co-founder of Veeva), and Robert J. Fisher.
-Whatnot, a live-stream-based shopping startup focused on collectibles, raised $20 million in Series A funding. Andreessen Horowitz General Partner Connie Chan led the round, and was joined by investors including Y Combinator, Wonder Ventures, Operator Partners, Scribble Ventures, Steve Aoki, and Chris Zarou.
- Dooly, a Canadian sales CRM platform, raised $20 million in seed and Series A funding.$3.3M, led by boldstart ventures led its $3.3 million seed round while Addition led the $17 million Series A.
- Webscale, a Santa Clara, Calif.-based cloud hosting company for e-commerce businesses, raised $17 million in funding. BGV, STCAP Ventures, and Mohr Davidow Ventures led the round and were joined by investors including Grotech Ventures.
- Maestro, a Los Angeles-based streaming platform for content creators, raised $15 million in Series B funding from investors including NetEase, Sony Music Entertainment, Acronym Venture Capital, SeventySix Capital, The Strand Partners, Stadia Ventures, Hersh Interactive Group, and Transcend Fund.
- Simplebet, a New York-based developer of sports betting technology, raised $15 million. Investors included Aristocrat, Florida Funders, and Mario Gabelli’s GGCP Partnership Fund.
- Around, a Redwood City, Calif.-based video call platform, raised $10 million in Series A funding. Wing Venture Capital led the round, and was joined by investors including Forerunner Ventures, Slack Fund, Initialized Capital, Credo, Floodgate and investor Naval Ravikant.
- CourseKey, a San Diego-based attendance and engagement tool for academia, raised $9 million in Series B funding. SignalFire led the round.
- Parabol, an Alhambra, Calif.-based company making agile meeting tools for remote teams, raised $8 million in Series A funding. M12 led the round, and was joined by investors including Techstars, CRV, and Haystack. Read more.
- Looped, a New York-based virtual venue streaming platform, raised $7.7 million in seed funding. Will Ventures led the round, and was joined by investors including Rocketship VC, Alpaca VC, Forefront Venture Partners, HOF Capital, Toy Ventures, Intuition Capital, Predictive VC, Ketch Ventures, and over 90 angel investors.
- Doppler, a San Francisco-based security platform for developers, raised $6.5 million in funding. GV, Sequoia Capital, Addition, Todd Goldberg,Rahul Vohra, and Lachy Groom.
- Cipher Skin, a Denver-based company making wearable technology to track and capture motion data, raised $5 million in Series A funding. Boyett Group led the round, and was joined by investors including Draper Capital, Tribe Capital and TKC Capital.
- Rollick, an Austin, Texas-based marketing and technology provider for RV and boat dealers and manufacturers, raised $8.5 million in funding from investors including Sandbox Insurtech Ventures, TechNexus Venture Collaborative, Dallas Venture Capital, Alumni Ventures, London Technology Club, LiveOak Venture Partners, Silverton Partners, Autotech Ventures, ManchesterStory, Anthem Venture Partners, and Capital Factory.
- Airbtye, a San Francisco-based open-source data integration platform, raised $5.2 million in seed funding, Fortune has learned. Accel led the round, and was joined by investors including YCombinator, 8VC, and individual investors.
- Ox, a Bentonville, Ark.-based ecommerce fulfillment platform to optimize supply chains, raised $3.5 million in seed funding. MaC Venture Capital and Cortado Ventures led the round, and were joined by investors including Revolution’s Rise of the Rest Seed Fund, Vuzix, Florida Funders, KCRise Fund and Willow Growth Partners.
- Ecomedes, a San Francisco, Calif.-based product developer tools in the cloud, raised $3.3 million in seed funding. M12 led the round and was joined by investors including NOVAby Saint-Gobain, PivotNorth, Mission Innovations Network, and AM Ventures.
- Mapped, a Los Angeles-based data infrastructure platform for commercial and industrial IoT, raised $3 million in seed funding from Greycroft and ANIMO Ventures. www.mapped.com
- Fillogic, a New York-based retail logistics service provider, raised $2.5 million in seed funding. James McCann, chairman and CEO of Food Retail Ventures, led the round, and was joined by investors including Jamestown LP, GroundBreak Ventures, Revelry Ventures Partners, XRC Labs, Green Egg Ventures, and angel investors including Sandy Sigal.
- Moov, a San Francisco-based marketplace for used semiconductor manufacturing equipment, raised $2 million in extended seed funding from NFX, Mark Cuban, Nat Turner, and Zach Weinberg of Operator Partners.
. . .
Sustainability:
- Therma, a San Francisco-based platform that manages and monitors temperature and eliminates energy waste, raised $10.2 million in a funding round led by Asia Alpha, Govtech Fund, Active Impact Investments, Collaborative Fund, and Fulmer & Company.
Acquisitions:
- Okta (Nasdaq: OKTA) agreed to buy Auth0, a Bellevue, Wash.-based developer of APIs to incorporate authentication into apps, for $6.5 billion in stock. Auth0 had raised over $330 million in VC funding, most recently last summer at around a $2 billion valuation, from firms like Bessemer Venture Partners, Sapphire Ventures, Meritech Capital, Salesforce Ventures, World Innovation Lab, Trinity Ventures, Telstra Ventures and K9 Ventures.http://axios.link/P2TZ
- Square (NYSE: SQ) bought a majority stake in music streaming service Tidal for nearly $300 million, and will add Tidal founder Jay-Z to its board of directors. http://axios.link/oVLl
- Atlassian (Nasdaq: TEAM) agreed to buy Chartio, a San Francisco-based data analytics and visualization platform that had raised around $8 million from backers like Avalon Ventures and Bullpen Capital. http://axios.link/Y7mq
- TPG Capital agreed to acquire Thycotic, a Washington, D.C.-based cloud-based access solutions provider, from Insight Partners. It will merge Thycotic with Centrify, a TPG-backed, Santa Clara, Calif.-based rival. Financial terms weren’t disclosed.
- Apollo Global Management is reportedly interested in buying Michaels, the Irving, Texas-based craft store, TheNew York Times reported citing sources. Read more.
- AmeriLife, a portfolio company of THL Partners and Cannae Holdings, acquired DFS Marketing, a life insurance field marketing organization. www.amerilife.com
- Next Insurance, backed by Capital G, Munich RE, and Redpoint Ventures, agreed to acquire AP Intego, a Boston-based Insurtech company. Financial terms weren't disclosed.
. . .
IPOs:
- ThredUp, an Oakland, Calif.-based marketplace for second hand clothing, filed to raise $100 million. Investors include Trinity Ventures, Redpoint Ventures, and Highland Capital Partners. Read more.
- SentinelOne, a Mountain View, Calif.-based cybersecurity firm, is reportedly getting ready for an IPO that could value the company at over $10 billion, Bloomberg reported citing sources. Read more
- Robinhood, the popular trading platform, is reportedly planning to confidentially file for an IPO within weeks, per Bloomberg. Read more.
- Compass, a New York-based online platform for real estate purchases and rentals, filed for a $500 million IPO. It plans to list on the NYSE (COMP) and reports a $270 million net loss on $3.72 billion in revenue for 2020. It raised around $1.6 billion in VC funding from firms like SoftBank Vision Fund, Dragoneer, CPPIB, Qatar Investment Authority, IVP, Thrive Capital, Founders Fund and .406 Ventures. http://axios.link/SEHk
- Oscar, a New York-based health insurer, increased its IPO price range from $32-$34 to $36-$38. It still plans to offer 31 million shares and list on the NYSE (OSCR). Backers include Alphabet, Thrive Capital, Founders Fund, Formation8, Fidelity, General Catalyst and Khosla Ventures. http://axios.link/xbvq
-SEMrush, a Boston-based digital marketing analytics platform, filed for a $100 million IPO. It plans to list on the NYSE (SEMR), reports a $7 million net loss on $125 million in revenue for 2020 and raised $47 million in VC funding from firms like Greycroft (9.4% pre-IPO stake), Siguler Guff, e.ventures and Russia Partners. http://axios.link/Qfwp
- Kaltura, a New York-based platform that offers live and on-demand video, filed to raise $100 million. The company had $120 million in revenues and $38.7 million in net losses in 2020. It plans to list on the Nasdaq as “KLTR”. Read more.
- Intermedia Cloud Communications, a Washington, D.C.-based business communication platform, filed to raise $100 million. The company posted $252 million in revenues and $21.7 million in net losses for 2020. It plans to list on the Nasdaq as “INTM”. Read more.
- Vizio, an Irvine, Calif.-based smart TV and soundbar maker, re-filed to raise $100 million, after first filing for an IPO in 2015. The company made $2 billion in revenues in 2020. It plans to list on the NYSE as “VZIO”. Read more.
- AppLovin, a Palo Alto, Calif.-based mobile games marketing firm, filed to raise up to $100 million. The company had $1.5 billion in revenues and $126 million in net loss for 2020. KKR backs the firm. Read more.
. . .
SPACs:
- Spire, a provider of satellite-based data and analytics, agreed to go public at a $1.6 billion valuation via reverse merger with NavSight Holdings (NYSE: NSH), a national security-focused SPAC led by Robert Coleman (founder of Six3 Systems). Spire raised around $200 million in VC funding, plus secured a PPP loan. Backers include RRE Ventures, Bessemer Venture Partners, Perennial Investment Partners, Expon Capital, Scottish Enterprise and Seraphim Capital.
- Doma (f.k.a. States Title), a San Francisco-based automation platform for real estate closings, agreed to go public at a $3 billion valuation via a reverse merger with Capitol Investment Corp. V (NYSE: CAP), a SPAC chaired by Mark Ein. Doma had raised $150 million in VC funding from such firms as Greenspring Associates, Foundation Capital, Assurant Growth Investing, Lennar, Bloomberg Beta, Scor, Fifth Wall, Horizons Ventures, Eminence Capital and Hudson Structured Capital Management.http://axios.link/N2Zt
- Rocket Lab, a Long Beach, Calif.-based rocket launcher company, agreed to go public with Vector Acquisition Corp., valuing the company at an enterprise value of $4.1 billion.
- Hippo, Palo Alto, Calif.-based home insurance group, plans to go public via merger with Reinvent Technology Partners Z, a SPAC backed by those including Reid Hoffman and Mark Pincus, valuing it at $5 billion.
Funds:
- Founder’s Co-op, a Seattle-based seed-stage venture fund, raised $50 million for its fifth fund.
- Tribecca Venture Partners is raising $150 million for its third fund, per an SEC filing. www.tribecavp.com
-Chicago Ventures, a Chicago-based seed-stage venture firm, raised $63 million for its third fund. Read more.
- Atomic, a San Francisco-based venture firm that funds companies it founds, raised $260 million for a new fund. Read more.
- Bond, the growth equity firm co-led by Mary Meeker, raised $2 billion for its second fund. www.bondcap.com
- Insight Partners is pre-marketing its 12th flagship fund with a $12 billion target, per the WSJ. http://axios.link/R0lo
-Shamrock Capital is raising $850 million for its fifth media and entertainment-focused fund, per public pension docs. http://axios.link/M0F3
Final Numbers
Source: SPAC Research
Source: CB Insights' State of Mobility Report