Sourcery (4/26-4/30)
Brex, Paxos, Greenlight, Current, Step, Alchemy, Embedded, Gr4vy, Capsule, Kaia Health, Willow, 1upHealth, Votive Health, Illumio, Sysdig, Wasabi, Automox, Clio, Mighty, Guesty, RapidDeploy, n8n...
Last Week (4/26-4/30):
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 Brex, Paxos, Greenlight, Current, Step, Alchemy, Embedded, Gr4vy, Capsule, Kaia Health, Willow, 1upHealth, Votive Health, Illumio, Sysdig, Wasabi, Automox, Clio, Mighty, Guesty, RapidDeploy, n8n, Inscribe, Lobus, Toucan, ObviouslyAI, Sunroof; Ascensus, Onnit, Sparkpost, TaxJar; Sonder, Spire Global, MapBox
Final numbers on 2021 GDP Growth Projections at the bottom.
Big News!! - New York Life, a New York-based life insurer, set aside $1 billion for an impact investment initiative aimed at supporting small businesses, affordable housing, and community development in underserved communities.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Brex, a San Francisco-based corporate credit card company focused on startups, raised $425 million in Series D funding at a $7.4 billion valuation. Tiger Global led, and was joined by TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners, Valiant Capital Management, Base10 and insiders YC Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital and IVP. http://axios.link/rZn7
- Paxos, a cryptocurrency infrastructure company, raised $300 million in Series D funding. Oak HC/FT led the round valuing it at $2.4 billion.
- Greenlight Financial Technology, an Atlanta-based fintech focused on families, raised $260 million in Series D funding, valuing the business at $2.3 billion. Andreessen Horowitz led the round and was joined by investors including TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital,Wellington Management, Owl Ventures, and LionTree Partners.
- Vena, a Canadian company spend management software company, raised $242 million in Series C funding. Vista Equity Partners invested.
- Current, a New York-based financial technology company that focused on teens early on, raised $220 million in Series D funding, valuing it at $2.2 billion. Andreessen Horowitz led the round and was joined by investors including Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management, and EXPA.
- Step, a Palo Alto, Calif.-based debit startup focused on families, raised $100 million in Series C funding. General Catalyst led the round and was joined by investors including Coatue, Stripe, Charli D’Amelio, The Chainsmokers, Will Smith, Franklin Templeton, and Jeffrey Katzenberg.
- Alchemy, a San Francisco-based blockchain platform, raised $80 million in Series B funding, valuing it at $500 million. Coatue and Addition led the round.
- Securrency, a Washington D.C.-based blockchain financial and regulatory tech company, raised $30 million in Series B funding. Investors included WisdomTree Investments, Abu Dhabi Catalyst Partners, State Street, and U.S. Bank.
- Sesame, a New York-based direct-pay healthcare marketplace, raised $24 million. Investors included Giant Ventures, Industry Ventures, and Coefficient Capital.
- Splitwise, a Providence, R.I.-based cost-splitting app, raised $20 million in Series A funding. Insight Partners led the round.
- Embedded Financial Technologies, a Vancouver, Wash.-based clearing and custody broker-dealer for U.S. listed equities and options, raised $20 million in seed funding. Investors include Bain Capital Ventures, Propel Venture Partners, Acrew Capital, Homebrew, Y Combinator, Lachy Groom, and Josh Buckley.
- ZenGo, a Tel Aviv-based mobile and crypto wallet, raised $20 million in Series A funding. Insight Partners led the round and was joined by investors including Distributed Global, Austin Rief Ventures, Benson Oak Ventures, Samsung Next, Elron, and Collider Ventures.
- Keeper Tax, a San Francisco-based tax filing software for gig workers, creators and freelancers, raised $13 million in Series A funding. Investors included e.ventures, Matrix Partners, and Foundation Capital.
- Gr4vy, a San Mateo, Calif.-based payments company, raised $11.1 million in Series A funding. Nyca Partners led the round and was joined by investors including Activant Capital, Global Founders Capital, and Firestartr.
- Notional Finance, a New York-based fixed interest rate borrowing company based off Ethereum, raised $10 million in Series A funding. Pantera Capital led the round and was joined by investors including Parafi Capital, 1Confirmation, Spartan Group, Nascent, and Nima Capital.
- BoostUp.ai, a Santa Clara-based revenue insight platform, raised $6 million in Series A funding. Canaan Partners led the round and was joined by Emergent Ventures and BGV Ventures.
- Wunderite, a Boston-based maker of a customer-facing platform for independent insurance agencies, raised $3 million in seed funding. Spark Capital led the round and was joined by investors including Boston Seed.
. . .
Care:
- Oura Health, a Finnish maker of sleep-tracking wearables, is in talks to raise new funding at around an $800 million valuation, per Bloomberg. To date its raised nearly $150 million from firms like Forerunner Ventures, Square and Gradient Ventures. http://axios.link/FFyQ
- Capsule, a New York-based digital pharmacy company, raised $300 million in Series D funding. Durable Capital Partners led the round and was joined by investors including Baillie Gifford, T Rowe Price, and Whale Rock.
- Kaia Health, a New York-based physical therapy company, raised $75 million in Series C funding. Investors include Optum Ventures, Eurazeo, 3VC, Balderton Capital, Heartcore Capital, Symphony Ventures, and A Round Capital.
- Ergatta, a New York-based at-home fitness brand, raised $30 million in Series A funding. Advanced Venture Partners led the round and was joined by investors including Greycroft, Fifth Wall, Gaingels, and Hans Tung (GGV).
- Willow, a Mountain View, Calif.-based wearable breast pump company, raised $26.8 million in extended Series C funding. Endeavour Vision led the round and was joined by investors including NEA, Pura Vida Investments, Purple Arch Ventures, Logos Capital, and Gaingels.
- 1upHealth, a Boston-based provider of a health data platform, raised $25 million in Series B funding. F-Prime Capital led the round and was joined by investors including Jackson Square Ventures, Eniac Ventures, and Social Leverage.
- CareStack, a Florida-based platform for the dental industry, raised $22.5 million in funding. Investors included Steadview Capital and Delta Dental of California, Accel Partners, Eight Roads and F-Prime Capital.
- Small Door Veterinary, a New York-based membership-based veterinary care model, raised $20 million in Series A funding. Toba Capital led the round and was joined by investors including Pentland Group, Lerer Hippeau, Primary Ventures, Brand Foundry, Howard Draft, Zach Weinberg, and Nat Turner.
- Supersapiens, an Atlanta-based sports energy management startup, raised $13.5 million led by MICA Ventures. www.supersapients.com
- Outcomes4Me, a Cambridge, Mass.-based A.I.-based cancer patient care platform, raised $12 million in Series A funding. Northpond led the round and was joined by investors including Sierra Ventures and Asset Management Ventures.
- Take Command Health, a Dallas-based health benefits platform, raised $12 million in Series A funding. LiveOak Venture Partners and SJF Ventures invested
- Impact Biosystems, a Boston-based provider of hardware and software services in the sports recovery space, raised $4.5 million. Will Ventures and NextView Ventures led the round.
- MD Ally, a New York-based 911-powered telehealth company, raised $3.5 million in seed funding. General Catalyst led the round and was joined by investors including Seae Ventures.
- Votive Health, a San Luis Obispo, Calif.based homecare tech company, raised $2.5 million. Investors included Flare Capital Partners, Chrysalis Ventures, and OCA Ventures.
. . .
Future of Work:
- Illumio, a Sunnyvale, Calif.-based cybersecurity company, is in talks to raise around $250 million in funding led by Thoma Bravo at a $2.9 billion valuation, per Bloomberg. To date it's raised around $330 million from firms like General Catalyst, JPMorgan Asset Management, Andreessen Horowitz, DCVC, 8VC, Harmony Partners and Accel. http://axios.link/2OWd
- Sysdig, a San Francisco-based security startup, raised $188 million in Series F funding valuing it at $1.2 billion. Third Point Ventures and Premji Invest led the round and were joined by investors including Accel, DFJ Growth, and Goldman Sachs.
- Wasabi, a Boston-based cloud storage startup, raised $112 million in Series C funding. Fidelity led, and was joined by insiders like Forestay Capital and North Atlantic Capital. www.wasabi.com
- Automox, a Boulder, Colo.-based endpoint management provider, raised $110 million in Series C funding. Insight Partners led the round and was joined by investors including Blackstone, Koch Disruptive Technologies, and TechOperators.
- Clio, a Canada-based legal tech company, raised $110 million in Series E funding valuing it at$1.6 billion. T. Rowe Price Associates led the round and was joined by investors including OMERS Growth Equity.
- Mighty Networks, a Palo Alto, Calif.-based platform for creators and brands to create communities, raised $50 million in Series B funding. Owl Ventures led the round and was joined by investors including Ziff Capital Partners and LionTree Existing investors included Intel Capital, Marie Forleo, Gretchen Rubin, Dan Rosensweig, Reid Hoffman, BBG Ventures, Lucas Venture Group, and Great Oaks Venture Capital.
- Guesty, a Los Angeles-based property management platform focused on short-term rental management, raised $50 million in Series D funding. Apax Digital Fund led the round and was joined by investors including AMI Opportunities Fund, Viola Growth, Flashpoint, Vertex Ventures, Kingfisher Investment Advisors, and La Maison Partners.
- Placer.ai, a Los Altos, Calif.-based foot traffic and location analytics startup, raised $50 million in Series B funding. Josh Buckley (CEO of Product Hunt) led the round and were joined by investors including Fifth Wall, Rahul Vohra, JBV Capital and Aleph VC.
- Unsupervised, a Boulder, Colo.-based provider of customer data analytics, raised $35 million in Series B funding co-led by Cathay Innovation and Signalfire. http://axios.link/llju
- RapidDeploy, an Austin-based emergency dispatch and analytics platform, raised $29 million in Series B funding. Morpheus Ventures led the round and was joined by investors including GreatPoint Ventures, Ericsson Ventures, Samsung Next Ventures, Tao Capital Partners, Clearvision Ventures, and Tau Ventures.
- Honorlock, a Boca Raton, Fla.-based authentication and academic integrity platform, raised $25 million in Series B funding. Owl Ventures led the round and was joined by investors including Defy Partners and Arsenal Growth.
- Higharc, a New York-based homebuilding platform for design, sales, and construction, raised $21 million in Series A funding. Spark Capital led the round and was joined by investors including MetaProp, Montage Ventures, Tectonic Capital, PlanGrid Co-Founder Ralph Gootee, Built Technologies Founder Chase Gilbert and Carta CTO Jerry Talton.
- Databook, a Palo Alto, Calif.-based enterprise customer intelligence company, raised $16 million in Series A funding. M12 and Salesforce Ventures led the round and were joined by investors including Threshold Ventures, Haystack, and Firebolt.
- Engage Technologies Group, a Boise, Id.-based video content platform focused on healthcare, raised $15 million in Series A funding from individual healthcare professionals.
- Opsera, San Francisco-based maker of an orchestration platform, raised $15 million in Series A funding. Felicis Ventures led the round and was joined by investors including HMG Ventures, Clear Ventures, Trinity Partners, and Firebolt Ventures.
- Logixboard, a Seattle-based customer experience platform for freight forwarders, raised $13 million. Redpoint Ventures led the round and was joined by investors including Social Leverage, F-Prime Capital, Founders Co-op, and Techstars Ventures.
- Firstbase, a New York-based provisioning platform for offices, raised $13 million in Series A funding. Andreessen Horowitz led, and was joined by B Capital Group and Alpaca VC. http://axios.link/u6Y9
- Veryfi, a San Mateo, Calif.-based AI-based data accounting automation platform, raised $12 million in Series A funding. NewView Capital led the round and was joined by investors including TI Platform Management and Act One Ventures.
- n8n, a Berlin-based workflow automation tool, raised $12 million in Series A funding. Felicis Ventures led the round and was joined by investors including Sequoia Capital, firstminute Capital, and Harpoon Ventures.
- Inscribe, a San Francisco-based fraud detection company, raised $10.5 million in Series A funding. Uncork Capital, Foundry Group, and Crosslink Capital led the round and were joined by investors including Y Combinator.
- Actuate, a New York-based maker of automation and intelligence software for security camera systems, raised $8 million in Series A funding. Tribeca Venture Partners led the round and was joined by investors including Scribble Ventures, OCA Ventures, Context Ventures, Bling Capital, Upside Partnership, and Tensility Venture Partners.
- Materials Zone, a Tel Aviv-based materials discovery platform, raised $6 million in Series A funding led by Insight Partners with participation from OurCrowd.
- Lobus, a blockchain-based art management startup, raised $6 million from Upside Capital, 8VC, Franklin Templeton, Dream Machine, Weekend Fund and BoostVC. http://axios.link/tbGm
- Toucan, a Santa Monica, Calif.-based language learning browser extension, raised $4.5 million in additional seed funding. LightShed Ventures led the round and was joined by investors including Next Play Ventures, Concrete Rose Capital, GingerBread Capital, Form Capital, Goodwater Capital, Hampton VC, Spacecadet Ventures, GTMfund, Baron Davis Enterprises, and Human Ventures.
- Weav, a maker of an API for commerce platforms, raised $4.3 million. Foundation Capital led the round and was joined by investors including Y Combinator, Abstract Ventures, Box Group, LocalGlobe, Operator Partners, Commerce Ventures, and SV Angel.
- Zirtue, a Dallas-based relationship-based lending app, bumped its total seed round up to $4 million. Investors include Northwestern Mutual Future Ventures, Google for Startups Black Founders Fund, Revolution's Rise of the Rest Seed Fund, and the Jaylon Smith Minority Entrepreneurship Institute Capital Fund.
- Kickfurther, a Boulder, Colo.-based crowdfunded inventory funding platform, raised $5.9 million in extended seed funding. Grand Oaks Capital led the round and was joined by investors including Draper Associates and Bill Tai.
- Obviously AI, a San Francisco-based maker of a no-code tool for building AI models, raised $3.6 million TMV led its seed, and was joined by investors including B Capital Group, Golden Gate Ventures, and Arka Venture Labs.
- VISO Trust, a San Francisco-based cyber risk assessment company, raised $3 million in seed funding. Work-bench led the round and was joined by investors including Sierra Ventures and Lytical Ventures
- Introvoke, a San Francisco-based startup focused on virtual stages, chat rooms and networking hubs, raised $2.7 million in funding. Struck Capital led the round and was joined by investors including Comcast, Social Leverage, Great Oaks, V1vc, Time CTO Bharat Krish and Resy co-founder Mike Montero.
. . .
Sustainability:
- SunRoof, a European solar power-based roof tile maker, raised €4.5 million ($5.5 million) in extended seed funding. Inovo Venture Partners led the round and was joined by investors including SMOK Ventures, LT Capital, EIT InnoEnergy, FD Growth Capital and KnowledgeHub.
- Sweep, a Paris-based carbon reduction management startup, raised $5 million. Investors included New Wave, 2050, and La Famiglia.
Acquisitions & PE:
- Stone Point Capital and GIC are nearing a deal to acquire Ascensus, a retirement plan provider, for about $3 billion, per Bloomberg. Genstar Capital and Aquiline Capital Partners back Acensus.
- Unilever agreed to acquire Onnit, an Austin-based maker of health supplements. Financial terms weren't disclosed.
- MessageBird agreed to acquire SparkPost, a Columbia, Md.-based predictive email intelligence platform, for about $600 million. Investors including LLR Partners and NewSpring Capital backed SparkPost.
- Tenable acquired Alsid, a Paris-based network security company, for $98 million. Investors in Alsid included 360 Capital Partners.
- IBM acquired Turbonomic, a Boston-based provider of tools to manage application performance, for about $1.5 billion, per Reuters.
- Stripe acquired TaxJar, a Woburn, Mass.-based platform for e-commerce merchants to manage sales taxes. Financial terms weren't disclosed.
. . .
IPOs:
- ZipRecruiter, a Santa Monica, Calif.-based job listing platform, filed for a direct listing.
- Darktrace, a London-based cybersecurity firm, is seeking a valuation of as high as 1.9 billion pounds ($2.6 billion) in the city.
- Zeta Global Holdings, a New York-based marketing software firm co-founded by former Apple CEO John Sculley, filed for an IPO.
- Allbirds, the shoe brand, is weighing an IPO, per The New York Times.
. . .
SPACs:
- Super Group, the New York-based parent company of online bookmaker Betway, agreed to go public via merger with Sports Entertainment Acquisition (SEAH.N), a SPAC, in a deal that values it at $5 billion.
- Mapbox, a Washington D.C.-based location data services provider, is in talks to go public via merger with a SoftBank Group backed SPAC, per SkyNews. A deal could value the company at $2 billion.
- Spire Global, a San Francisco-based provider of space-based data and analytics, will raise $70 million from Francisco Partners. Spire previously announced plans to go public via merger with a SPAC.
- Sonder, a San Francisco-based short-term rentals and hotel lodging company, agreed to go public via a merger with blank check company Gores Metropoulos II. A deal values the combined entity at $2.2 billion.
Funds:
- New York Life, a New York-based life insurer, set aside $1 billion for an impact investment initiative aimed at supporting small businesses, affordable housing, and community development in underserved communities.
- Iconiq Capital, a San Francisco-based investment firm, is targeting nearly $3.8 billion for its sixth fund, per the WSJ.
- Valor Equity Partners, a Chicago-based private equity firm, closed Valor Equity Partners V with $1.7 billion fund.
- Pendulum Holdings, a venture capital firm led by one of President Barack Obama’s financial advisers, is in the process of raising $250 million to invest in founders of color, per Recode.3
Final Numbers
Data: FactSet; Chart: Andrew Witherspoon/Axios
America's economic growth rate hit 6.4% in the first quarter of 2021, the Bureau of Economic Analysis announced this morning, up from 4.3% in Q4 2020.
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