Sourcery (3/22-3/26)
Plaid, Blockchain.com, Chainanalysis, Pilot, Lukka, Greenwood, Polly, Creative Juice, Ro, Komodo Health, Ginger, Sakara Life, GoPuff, Dataminr, ServiceTitan, Hopper, SIde, Notarize, RecRoom, ActionIQ
Last Week (3/22-3/26):
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 Plaid, Blockchain.com, Feedzai, Chainanlysis, Pilot, Freetrade, Lukka, Greenwood, Polly, Lev, Creative Juice, Ro, Komodo Health, Evidation Health, Ginger, DexCare, Sakara Life, Better Health, GoPuff, Dataminr, ServiceTitan, Orca Security, Hopper, Side, Notarize, Wiz, RecRoom, ID.me, ActionIQ, Pacaso, Lattice, Axis Security, LinkTree, OnDeck, Teamflow, AnyRoad, Trace, Haystack, DemoFlow, Eat Just, Airly. Box, Optimizely, OneTrust. ACV Auctions, DigitalOcean, UiPath, ThredUp, Coinbase, Coursera, Compass, AvidXchange. WeWork, Athletic.
Final numbers on Gamestop Stock Price at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Plaid, a San Francisco-based financial technology startup, is raising roughly $600 million in a round that could value it between $10 billion to $15 billion, per the Information. Altimeter Capital is leading the deal. Read more.
- Blockchain.com, a London-based digital assets platform, raised $300 million at a $5.2 billion valuation co-led by DST Global, Lightspeed Venture Partners and VY Capital. http://axios.link/7pxG
- Feedzai, a cloud-based financial risk management platform, raised $200 million in Series D funding. KKR led the round and was joined by investors including Sapphire Ventures and Citi Ventures.
- Pie Insurance, a Washington D.C.-based startup with workers’ compensation insurance for small businesses, raised $118 million in Series C funding. Allianz X and Acrew Capital led the round. Read more.
- Chainalysis, a New York-based blockchain analysis company, raised $100 million in Series D funding. Paradigm led the deal, valuing the company at $2 billion. Addition, Ribbit, and TIME Ventures also participated.
- Pilot, a San Francisco-based accounting company, raised $100 million, valuing it at $1.2 billion. Bezos Expeditions led the round and was joined by investors including Whale Rock Capital, Sequoia, and Index Ventures.
- Airwallex, an Australia-based cross-border payments company, raised another $100 million in additional Series D funding, valuing it at $2.6 billion. Greenoaks led the round and was joined by investors including Grok Ventures, Skip Capital, and ANZi Ventures.
- PayFit, a Paris-based payroll and HR platform, raised €90 million in Series D funding. EurazeoGrowth and BPI France co-led, and were joined by Accel, Frst and Xavier Niel. http://axios.link/CeLY
- Freetrade, a U.K.-based challenger stock trading app, raised $69 million in Series B funding. Left Lane Capital led the round and was joined by investors including L Catterton and Draper Esprit. Read more.
- Lukka, a New York-based enterprise crypto portfolio management software, raised $53 million in Series D funding from Soros Fund Management, S&P Global and CPA.com. http://axios.link/kchJ
- Greenwood, an Atlanta-based digital banking platform for the Black and Latino community, raised $40 million in Series A funding. Investors included Truist, Bank of America, PNC, JPMorgan Chase, Wells Fargo, Mastercard,Visa, FIS, Popular,TTV Capital, and the SoftBank Group Corp's SB Opportunity Fund.
- Snapsheet, a Chicago-based claims management software maker , raised $30 million in Series E2 financing. Ping An Global Voyager Fund and Pivot Investment Partners led the round.
- Maxwell, a Denver-based digital mortgage and fulfilment platform for small to midsize mortgage lenders, raised $16.3 million in Series B funding. Fin VC and TTV Capital led the round.
- Polly, a San Francisco-based provider of software to the mortgage industry, raised $15 million in Series A funding. 8VC led the round and was joined by investors including Menlo Ventures, Conversion Capital, Meritech Capital, Fifth Wall, and Base10 Partners.
- Lev, a New York-based commercial real estate financing transaction platform, raised $10 million in seed funding. Pete Flint from NFX led the round and was joined by investors including Canaan Partners and JLL Spark.
- LenderClose, a Des Moines, Ia.-based real estate and home equity lending tech company, raised $10 million in Series B funding. Investors included Next Level Ventures, Ardent Credit Union, Strata Credit Union, Tucson Federal Credit Union, Collins Community Credit Union, Financial Plus Credit Union, Serve Credit Union, and Ascentra Credit Union.
- Counterpart, a Los Angeles-based insurtech using technology and data to transform the $10bn management liability insurance market, has raised $10m in funding led by Valor Equity Partners.
- Kubecost, a San Francisco-based cost monitoring platform, raised $5.5 million in seed funding. First Round Capital led the round and was joined by investors including Afore Capital.
- Lolli, a New York-based maker of bitcoin rewards company that gives users free bitcoin when they shop, raised $5 million from Seven Seven Six,Night Media, and investors including Serena Ventures, Casey Neistat, Phil Defranco, Cody Ko, Noel Miller, Ian Borthwick, and Gabriel Leydon.
- RECUR, a Detroit-based company for allowing fans to buy and sell digital collectibles, raised $5 million. Defi Alliance led the round and was joined by investors including Gary Vaynerchuk, Courtside VC, Joseph Lubin, Gemini, Scott Belsky (Founder of Behance), JST Capital, Delphi Digital, Volt Capital, Nascent, and CMT Digital, Hashed.
- VersusGame, a San Francisco-based prediction betting app, raised an additional $6 million in seed funding from investors including Sukhinder Singh Cassidy (former President of StubHub) and Kevin Mayer (former CEO of TikTok).
- Creative Juice, a financial network for creators, raised $5 million in seed funding. Inspired Capital and Index Ventures co-led the round and were joined by Slow Ventures, Box Group, Jimmy Donaldson ‘MrBeast’, Preston Arsement, Carter Sharer, Shelby Church, Graham Stephan, Night Media, Scooter Braun, and Justin Kan (Twitch co-founder).
- Sivo, a Lewis, De.-based lending-focused API company, raised $5 million valuing it at $100 million, per TechCrunch. Investors include Andre Charoo of Maple VC. Read more.
- Trava, an Indianapolis-based cyber risk management and insurance platform, raised $3.5 million in seed funding. TDF Ventures led the round and was joined by investors including High Alpha Capital and M25.
- Surround Insurance, a Cambridge, Mass.-based insurtech company, raised $2.6 million in seed funding. Investors included Sure Ventures, Cameron Ventures, Newark Venture Partners, and Plug & Play Ventures.
. . .
Care:
- Ro, a New York-based healthcare techno company, raised $500 million in Series D funding. Investors included General Catalyst, FirstMark Capital, and TQ Ventures, as well as SignalFire, Torch, BoxGroup,Altimeter, Baupost, Dragoneer, Shawspring, Radcliff, and 776.
- Komodo Health, a New York City- and San Francisco-based health tech company, raised $220 million in Series E funding. Tiger Global Management and was joined by investors including Casdin Capital, ICONIQ Growth, Andreessen Horowitz, and SVB Capital.
- Evidation Health, a San Mateo, Calif.-based digital health company, raised $153 million in Series E funding. OMERS Growth Equity and Kaiser Permanente Group Trust led the round and were joined by McKesson Ventures and B Capital Group.
- Ginger, a San Francisco-based mental health company, raised $100 million in Series E funding. Blackstone Growth led the round.
- Foodsmart, a San Francisco-based personalized telenutrition and foodcare company, raised $25 million in Series C funding. Advocate Aurora Enterprises led the round.
- DexCare, Seattle-based digital health company, raised $20 million. Define Ventures led the round and was joined by investors including Frist Cressey Ventures, Kaiser Permanente Ventures, SpringRock Ventures, and Providence Ventures.
- Sakara Life, a New York City-based wellness and lifestyle program, raised $15 million in Series B funding. Investors included One Better Ventures and Silas Capital.
- Better Health, a San Francisco-based healthcare company offering e-commerce experience to those with chronic conditions, raised $3.5 million in seed funding. 8VC led the round and was joined by investors including Caffeinated Capital and Anorak Ventures.
. . .
Future of Work:
- GoPuff, a Philadelphia-based instant delivery platform for everyday items, raised $1.15 billion led by existing backer D1 Capital Partners at an $8.9 billion post-money valuation. This is a deep-pocketed cross between Amazon and DoorDash. GoPuff operates hundreds of "micro fulfillment centers," usually between 8k-12k sq feet in urban areas, plus contracts out to a network of around 10,000 on-demand drivers who provide 24/7 coverage. Investors include Fidelity, Baillie Gifford, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1.
- Epic Games, the North Carolina-based game maker behind Fortnite, is finalizing the terms of a $1 billion round of funding that could value it at $28 billion, per, Sky News. Read more.
- ServiceTitan, a Los Angeles-based provider of software for tradespeople, raised $500 million at an $8.3 billion valuation. Tiger Global and Sequoia Capital Global co-led, and were joined by H.I.G. Growth and insiders Arena Holdings, Battery Ventures, Bessemer Venture Partners, Dragoneer, Durable Capital Partners, ICONIQ Growth, Index Ventures and T. Rowe Price. http://axios.link/Y4N5]
- Dataminr, a New York-based information discovery platform, raised $475 million valuing it at $4.1 billion. Investors include Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP, Eden Global, and investment funds managed by Morgan Stanley Tactical Value.
- Orca Security, a Los Angeles-based cybersecurity company, raised $210 million in Series C funding, valuing it at $1.2 billion. CapitalG led the round and was joined by investors including Redpoint Ventures.
- Hopper, a Canadian travel booking company with risk mitigation products, raised $170 million in Series F funding. Capital One led the round and was joined by investors including GS Growth, Inovia Capital, WestCap Group, and Citi Ventures.
- Side, a San Francisco-based real estate tech company, raised $150 million, valuing it at $1 billion. Coatue Management led the round.
- Notarize, a Boston, Mass.-based notarization company, raised $130 million in Series D funding. Canapi Ventures led the round and was joined by investors including CapitalG, Citi Ventures, Wells Fargo, and True Bridge Partners.
- Wiz, a Tel Aviv-based cybersecurity company, raised $130 million for a valuation of $1.7 billion. Advent Venture Partners led the round and was joined by investors including Cyberstarts, Index Ventures, Insight Partners, and SequoiaCapital. Read more.
- Veev, a San Mateo, Calif.-based homebuilding startup, raised $100 million in funding. Investors included More Investment House, Migdal Insurance Company, Psagot Investment House, and Shavit Capital.
- Rec Room, a Seattle-based gaming platform for user-generated content, raised $100 million, valuing it at $1.3 billion. Sequoia Capital and Index Ventures led the round and were joined by Madrona Venture Group.
- ID.me a McLean, Va.-based digital identity network, raised $100 million in Series C funding. Viking Global Investors led the round and was joined by investors including Counterpoint Global, PSP Growth, Lead Edge Capital, CapitalG, WndrCo, Willoughby Capital, BoxGroup, and Moonshots Capital.
- ActionIQ, a New York-based customer data analysis company, raised $68 million in additional Series C funding for a total of $100 million in the round. Investors included March Capital.
- FourKites, a Chicago-based supply chain visibility platform, raised $100 million in Series D funding. Thomas H. Lee Partners led the round and was joined by investors including Qualcomm Ventures, Volvo Group Venture Capital AB, Zebra Technologies, August Capital, CEAS Investments, Hyde Park Angels, Hyde Park Venture Partners, and Bain Capital Ventures.
- Pacaso, a San Francisco-based platform for listing and buying second-hand homes, raised $75 million. Dana Settle of Greycroft and Sarra Zayani of Global Founders Capital led the round and were joined by Sukhinder Singh Cassidy and Theresia Gouw of the Acrew Diversify Capital Fund.
- Lattice, a San Francisco-based human resources management platform, raised $60 million valuing it at $1 billion. Tiger Global led the round.
- Neighbor, a Lehi, Ut.-based self-storage marketplace, raised $53 million in Series B funding. Fifth Wall led the round and was joined by investors including Andreessen Horowitz.
- Flex Logix, a Mountainview, Calif.-based supplier of A.I. edge inference accelerators, raised $55 million in Series D funding. Mithril Capital Management led and was joined by investors including Lux Capital, Eclipse Ventures, and the Tate Family Trust.
- Axis Security, a San Mateo, Calif.-based access security company, raised $50 million in Series C funding. Spark Capital led the round and was joined by investors including Canaan Partners, Ten Eleven Ventures, and Cyberstarts.
- Linktree, a Australia-based maker of a platform for unifying communication platforms, raised $45 million in Series B funding. Index Ventures led the round and was joined by investors including Coatue, AirTree Ventures, and Insight Partners.
- Ease, a San Francisco-based HR and benefits software solution for small business and insurance carriers, raised $41 million in Series C funding. Spectrum Equity led the round and was joined by investors including Centana Growth Partners, Propel Venture Partners, Freestyle Capital, Compound Ventures, and Upside Partnership.
- Incode, a San Francisco-based identity verification and authentication platform, raised $25 million in Series A funding. DN Capital and 3L Capital led the round and were joined by Framework Ventures, Walter Ventures, FJ Labs, and DILA Capital.
- Holberton, a San Francisco-based software engineering education company, raised $20 million in Series B funding. Redpoint eventures led the round and was joined by investors including Pearson Ventures, Daphni, Imaginable Futures, Reach Capital, and Trinity Ventures.
- Ketch, a San Francisco-based data privacy and security company, raised $23 million in Series A funding from CRV, super{set}, Ridge Ventures, Acrew Capital, and Silicon Valley Bank.
- On Deck, a San Francisco-based provider of fellowship programs for tech entrepreneurs, has raised $20 million in Series A funding, led by Founders Fund at a $250 million post-money valuation, Axios has learned.
- Chord, a New York-based commerce software company, raised $18 million in Series A funding. Eclipse Ventures led the round and was joined by investors including Foundation Capital, Index Ventures, Forerunner Ventures, and WhiteStar Capital.
- Middesk, a San Francisco-based provider of identity infrastructure tools, raised $16 million in Series A funding. Sequoia Capital led the round and was joined by investors including Accel and Y Combinator.
- what3words, a London-based location tech company, raised £12 million ($16.4 million) from Ikea’s Ingka Investments.
- Feedback Loop, a New York-based testing and feedback platform, raised $14 million in additional Series A funding. Crosslink Capital led the round and was joined by investors including Spider Capital.
- iFoodDS, a Seattle-based provider food safety, traceability, and quality management solutions for the fresh food supply chain, raised $15 million in Series A funding. Insight Partner led the round.
- Connected2Fiber, a Boston-based cloud and communications company, raised $12 million in Series B funding. Harbert Growth Partners led the round and was joined by investors including Ascent Venture Partners, Nauta Capital, and Osage Venture Partners.
- TryNow, a San Francisco-based provider of tech for online retail, raised $12 million in Series A funding. Investors included Shine Capital, Craft Ventures, SciFi VC, Third Kind, as well as Zachary Perret and William Hockey (Plaid co-founders). Read more.
- Teamflow, a London-based virtual office platform provider, raised $11 million in Series A funding. Battery Ventures led the round.
- AnyRoad, a San Francisco-based experience management platform, raised $10 million in Series A1 funding. Andreessen Horowitz and Runa Capital led the round.
- Trace, a San Francisco-based workflow and analytics company, raised $8.3 million. Investors included Greylock, Uncork Capital, Redpoint Ventures, Nyca Partners, and Operators Guild.
- Haystack, a Los Angeles-based platform for unifying communications, raised $8.2 million in seed funding. Investors included Coatue Management, Greycroft, BoxGroup, and Day One Ventures.
- MyCarrier, a Scottsdale, Ari.-based transportation management platform, raised $8 million in Series A funding. Greycroft and Lerer Hippeau led the round.
- CoScreen, a Menlo Park, Calif.-based remote collaboration platform, raised $4.6 million in seed funding. Unusual Ventures led the round.
- Chums, a Beverly Hills, Calif.-based social shopping service, raised $3.5 million. Investors include Ludlow, Shrug, Contrary Capital, and Fuel Capital. Read more.
- Demoflow, a Denver-based provider of a sales team platform, raised $2.4 million in a second seed funding round. RTP Seed led the round and was joined by investors including Slack Fund, First Mile Ventures, Next Frontier Capital, and Heroic Ventures.
- 86 Repairs, a Chicago, Ill.-based equipment repair and maintenance company for restaurants, raised $2 million in seed funding. Investors included TDF Ventures, HAVI, Gordon Food Service, GHS Holdings, Tamarind Hill, Invest Detroit Ventures, Network Ventures, and the Cleveland Avenue State Treasurer Urban Success Fund.
. . .
Sustainability:
- Eat Just, a San Francisco-based food tech startup, raised $200 million in funding. Qatar Investment Authority led the round and was joined by investors including Charlesbank Capital Partners and Vulcan Capital.
- Airly, a New York-based company focused on air quality detection, raised $3.3 million. firstminute capital led the round.
Acquisitions & PE:
- Box (NYSE: BOX) has discussed a possible sale to strategic or financial buyers, due to pressure from activist investor Starboard Value, per a Reuters report that caused Box’s market cap to rise to $4.3 billion. http://axios.link/pyKU
- Optimizely, backed by Insight Partners, acquired Zaius, a Boston-based customer data platform. Zaius has been backed by Insight, Underscore VC, and Matrix Partners. Financial terms weren't disclosed.
- OneTrust, backed by investors including TCV, Insight Partners, and Coatue, agreed to acquire Convercent, a Denver-based provider of ethics and compliance cloud software. Investors including Sapphire Ventures, Tola Capital, and Azure Capital Partners backed Convercent. Financial terms weren't disclosed.
- Hopin acquired video hosting provider Streamable and video technology company Jamm. Financial terms weren't disclosed.
- Peloton Interactive (Nasdaq: PTON) acquired Aiqudo, Atlas Wearables, and Otari, companies in the voice control, wearables, and interactive mat spaces. Read more.
- Twitter acquired Reshuffle, a Sunnyvale, Fla.-based developer platform. Financial terms weren't disclosed.
- UiPath acquired Cloud Elements, a Denver-based API integration platform backed by investors including Mercato Partners and American Express Ventures. Financial terms weren't disclosed.
- Everlywell acquired PWNHealth, a New York City-based diagnostics testing company. Spectrum Equity backs PWNHealth and will retain an ownership stake. Financial terms weren't disclosed.
. . .
IPOs:
- ACVAuctions, a Buffalo, N.Y.-based wholesale auto auction site, raised $414 million in its IPO. The company priced at $25 (above upwardly-revised range), for a fully diluted value of $4.1 billion, will list on the Nasdaq (ACVA) and reports a $41 million net loss on $208 million in revenue for 2020. It had raised $350 million in VC funding, most recently at a $1.7 billion valuation, from firms like Bessemer Venture Partners, Tribeca Venture Partners, SoftBank, Armory Square Ventures and Durable Capital Partners. http://axios.link/2oYZ
-DigitalOcean, a New York-based cloud hosting and app management platform, raised $776 million in its IPO. The company priced at the high end of its $44-$47 range, for an initial market cap of $4.95 billion. It will list on the NYSE (DOCN) and reports a $44 million net loss on $318 million in revenue for 2020. DigitalOcean had raised over $500 million from such firms as Access Holdings (26.6% pre-IPO stake), Andreessen Horowitz (17.5%) and IA Ventures (16.6%). http://axios.link/7Lyl
- SEMrush, a Boston-based digital marketing analytics platform, raised $140 million in its IPO. The company priced 10 million shares at $14, versus plans to offer 16.8 million at $14-$16, and will list on the NYSE (SEMR). SEMrush 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/h74s
- Robinhood is building a platform to “allow users of its trading app to snap up [IPO] shares alongside Wall Street funds,” per Reuters. The company filed confidential IPO papers earlier this week. http://axios.link/o1Dk
-ThredUp, a San Francisco-based clothing resale marketplace, raised $168 million in its IPO. It priced at the high end of its $12–$14 range, for an initial market cap of $1.1 billion, and will list on the Nasdaq (TDUP). The company reports a $48 million net loss on $186 million in revenue for 2020, and had raised over $330 million from firms like Trinity Ventures, Redpoint Ventures, Highland Capital Partners, Upfront Ventures, Goldman Sachs, Irving Investors and Park West Asset Management. http://axios.link/uF0t
-UiPath, a New York-based robotic process automation software company recently valued by VCs at $35 billion, filed for a $1 billion IPO. It plans to list on the NYSE (PATH) and reports a $92 million net loss on $607 million in revenue for the fiscal year ending Jan. 31, 2021. Major shareholders include Accel, Earlybird and CapitalG. http://axios.link/ud2h
- Coinbase, a San Francisco-based cryptocurrency exchange, is now aiming to go public via direct listing in April, per Bloomberg. Read more.
- KnowBe4, a Clearwater, Fla.-based cybersecurity training provider, filed to raise $100 million. Goldman Sachs and KKR back the firm. Read more.
- AppLovin, a Palo Alto, Calif.-based game making startup, says it plans to raise $1 billion, though the figure is likely a placeholder. KKR backs the firm. Read more.
- Coursera, a Mountainview, Calif.-based edtech company, now plans to raise $495 million through an offering of 15.7 million shares (7% insider sode) priced between $30 to $33. NEA and G Squared back the firm. Read more.
- Compass, a New York-based real estate brokerage, is now seeking to raise as much as $936 million in an IPO of 36 million shares priced between $23 to $26 apiece. SoftBank backs the firm. Read more.
- AvidXchange, a Charlotte, N.C.-basd payments company, is preparing for an IPO that could value it at over $7 billion, per Reuters. Its backers include Mastercard and PayPal co-founder Peter Thiel. Read more.
. . .
SPACs:
- ironSource, a Tel Aviv-based maker of analytics tools, agreed to go public via merger with Thoma Bravo Advantage, a SPAC backed by the private equity firm. A deal values the combination at $11.1 billion.
- WeWork has agreed to be taken public by BowX Acquisition Corp. (Nasdaq: BOWX), a SPAC sponsored by Vivek Ranadivé's Bow Capital Management. It's a giant middle finger to critics, many of whom had left WeWork for dead even before the pandemic eviscerated its business model. Particularly those who compared WeWork unfavorably to rival Regus, which last year put many of its locations into bankruptcy protection. The deal would give WeWork an implied valuation of $9 billion. That's a dramatic discount to its $47 billion valuation in early 2019, but a slight improvement on where WeWork was valued in a SoftBank-led bailout round later that same year. It includes an $800 million PIPE from firms like Insight Partners, Starwood Capital Group, Centaurus Capital and Fidelity.
- Athletic, a sports-media outlet, has been in talks to merge with Axios, a news startup, per the Wall Street Journal. A deal could involve going public via a SPAC. Read more.
Funds:
- Bowery Capital, a New York-based VC firm, raised $70 million for its third fund. Bowery also promoted Loren Straub to general partner. www.bowerycap.com
- Vetamer Capital Management, a San Francisco-based crossover investment focused on financials and technology, launched with $350 million under management.
- Bedrock, a New York-based venture capital firm, raised $350 million for its third fund.
- BBG Ventures, a New York-based early-stage fund focused on consumer tech startups with female founders, raised $50 million for its third fund.
- MaC Venture Capital, a Los Angeles-based majority Black-led venture firm, raised $103 million for its first fund.
Data: FactSet; Chart: Axios Visuals
GameStop today is set to release its first set of quarterly earnings since the Reddit rally began. We also just got word that the company's chief customer officer, Frank Hamlin, is stepping down. Go deeper.