Sourcery (6/14-6/18)
Guideline, Paycargo, Addepar, Bitwise, Novo, Arrived Homes, Finley, Lyra, Brightline, Pill Club, Stork Club, Waymo, Anduril, Thumbtack, Browserstack, Keeptruckin, IRL, Nylas, Imply, Gloat, Ecologi...
Last Week (6/14-6/18):
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 Guideline, Paycargo, Addepar, Bitwise, Splash, Novo, Arrived Homes, Anorak, Finley, Coinme, Lyra, Brightline, Pill Club, Stork Club, Sempre, Kindra, Waymo, Anduril, Thumbtack, Browserstack, KeepTruckin, IRL, Nylas, DuckDuckGo, Bringg, Immersive Labs, Imply, Popmenu, Templafy, Gloat, nate, Fiddler AI, Transform, Bookclub, Specto, Monograph, Wagr, Selfbook, Ecologi, Minimum; Primary Wave Music, SaaSOptics, Boomset, BillingTree, Confluence, Nutmeg, RideOS, Podz; Convey Health, WalkMe, Sprinklr, Bright Health; Thrasio, Boxed
Final numbers on Monthly Total Business Applications and Wage Gap at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Guideline, a San Mateo, Calif.-based retirement planning software maker, raised $200 million in Series E funding. General Atlantic led the round and were joined by investors including Generation Investment Management, Greyhound Capital, Felicis Ventures, and Propel Ventures.
- PayCargo, a Coral Gables, Fla.-based freight payment platform, raised $125 million in Series B funding. Insight Partners led the round.
- Addepar, a Mountain View, Calif.-based wealth management company, raised $150 million from D1 Capital Partners at a pre-money valuation of $2 billion as part of its Series F financing. www.addepar.com
- Introhive, a Canada-based revenue analysis platform, raised $100 million in Series C funding. PSG led the round and was joined by investors including Bank of America Securities, The Business Development Bank of Canada, Aegis Group Partners, Evergreen Coast Capital, and Mavan Capital Partners.
- Bitwise Asset Management, a Schaumburg, Ill.-based cryptocurrency index fund manager, raised $70 million in Series B funding, valuing it at $500 million. Elad Gil and Electric Capital led the round and were joined by investors including Henry Kravis, Stanley Druckenmiller, Third Point, Willoughby Capital, Vetamer Capital, Bridgewater CEO David McCormick, D1 CIO Daniel Sundheim, former U.S. Federal Reserve Governor Kevin Warsh, and more.
- Tractable, a London-based image recognition startup focused on the auto insurance market, raised $60 million in Series D funding at a $1 billion valuation co-led by Insight Partners and Georgian Partners. http://axios.link/xqob
- Splash Financial, a Cleveland-based digital lending platform, raised $44.3 million in Series B funding. Investors included partners of DST Global, Citi Ventures, Detroit Venture Partners, Firebolt Ventures, CMFG Ventures, and Northwestern Mutual Future Ventures.
- Novo, a New York City-based small business banking platform, raised $40.7 million in Series A funding. Valar Ventures led the round and was joined by investors including Crosslink Capital, Rainfall Ventures, Red Sea Ventures, and BoxGroup.
- Akur8, a Paris-based automated insure-tech platform, raised $30 million in Series B funding led by an undisclosed investor. http://axios.link/9Fuh
- Arrived Homes, a Seattle-based real estate investing platform, raised $10 million in seed funding. Core Innovation Capital led the round and was joined by investors including Bezos Expeditions, Good Friends, Time Ventures, Spencer Rascoff (former CEO of Zillow), and Dara Khosrowshahi (CEO of Uber).
- Anrok, a San Francisco-based sales tax software maker, raised $4.3 million in seed funding. Index Ventures and Sequoia Capital led the round.
- Finley, a San Francisco-based maker of software for raising debt, raised $3 million in seed funding. Matt Harris of Bain Capital Ventures led the round and was joined by investors Haystack, Nine Four Ventures, Twenty Two Ventures, and Y Combinator.
- Coinme, a Seattle, Wash.-based cryptocurrency-and-cash exchange, raised $10 million. Investors included Digital Currency Group.
- handdii, a San Francisco-based property claims platform, raised $3 million in seed funding. Brick & Mortar Ventures led the round and was joined by investors including Nine Four Ventures, Scale Investors, and Fifty-Second Celebration.
. . .
Care:
- Lyra Health, a Burlingame, Calif.-based provider of mental health care benefits for employers, raised $200 million, valuing it at $4.6 billion. Coatue led the round and was joined by investors including Sands Capital.
- Brightline, a Palo Alto, Calif.-based virtual healthcare solution, raised $72 million in Series B funding. GV led the round and was joined by investors including Optum Ventures, 7wireVentures, and Gaingels.
- The Pill Club. a San Mateo, Calif.-based telehealth provider, raised $41.9 million. Investors included ACME, Base10, GV, Shasta Ventures, and VMG, as well as Uber’s DaraKhosrowshahi, Honey’s George Ruan, and iGlobe.
- Stork Club, a San Francisco-based family benefits company, raised $30 million in Series A funding. General Catalyst led the round and was joined by investors including Bowery Capital and Slow Ventures.
- Sempre Health, a San Francisco-based maker of a behavior-based healthcare pricing system, raised $15 million in Series B funding. Blue Venture Fund led the round and was joined by investors including Sandbox, UPMC Enterprises, Rethink Impact, LifeForce Capital, and Industry Ventures.
- Kindra, a Los Angeles-based modern wellness brand for menopause essentials, raised $4.5 million in seed funding. Investors included Female Founders Fund. Primetime Partners, Anne and Susan Wojcicki, Katie Couric Media, The Community Fund, and H Ventures.
- PsyTech, a Canadian psychedelics awareness company, raied $3.8 million in Series A funding. Ambria Capital led the round.
. . .
Future of Work:
- Arctic Wolf Networks, an Eden Prairie, Minn.-based cybersecurity startup, is in talks to raise at a valuation of over $4 billion, per Bloomberg. Viking Global Investors is expected to lead the round.
- Waymo, a developer of self-driving car, raised $2.5 billion in new funding. Tiger Global was joined by insiders Alphabet, Andreessen Horowitz, AutoNation, CPP Investment Board, Fidelity, Magna International, Mubadala Investment Co., Perry Creek Capital, Silver Lake, T. Rowe Price Associates and Temasek. http://axios.link/DQy6
- Andruil, an Irvine, Calif.-based defense-tech startup, raised $450 million in Series D funding at a $4.6 billion post-money valuation. Elad Gil led, and was joined by insiders Andreessen Horowitz, 8VC, Founders Fund, General Catalyst, Lux Capital, Valor Equity Partners and D1 Capital Partners. www.anduril.com
- Neo4j, a San Mateo, Calif.-based graph database company, raised $325 million in Series F funding co-led by Eurazeo and GV at a valuation north of $2 billion.
- Thumbtack, a San Francisco-based maker of a marketplace to find home services professionals, raised $275 million in a deal that values it at $3.2 billion. Qatar Investment Authority led the round and was joined by investors including Blackstone Alternative Asset Management, and G Squared.
- BrowserStack, a Dublin- and San Francisco-based software testing platform maker, raised $200 million in Series B funding at a $4 billion valuation. BOND led the round and was joined by investors including Insight Partners and Accel.
- Iterable, a San Francisco-based platform for customer experiences, raised $200 million in Series E funding, valuing it at $2 billion. Investors include Silver Lake, Adams Street, Glynn Capital, and Deutsche Telekom Capital Partners.
- KeepTruckin, a San Francisco-based provider of fleet management software, raised $190 million at a $2.3 billion valuation. G2 Venture Partners led, and was joined by BlackRock, GV, Index Ventures, Greenoaks Capital and Scale Venture Partners. http://axios.link/pvlG
- IRL, a San Francisco-based social calendar app, raised $170 million in Series C funding. SoftBank Vision Fund 2 led, and was joined by Dragoneer and insiders Goodwater Capital, Founders Fund and Floodgate.http://axios.link/ug3N
- Claroty, a New York City-based industrial cybersecurity company, raised $140 million in a Series D funding. Bessemer Venture Partners' Century II fund and 40 North led the round and were joined by investors including LG and I Squared Capital's ISQ Global InfraTech Fund.
- Nylas, a developer of APIs to integrate productivity tools, raised $120 million in Series C funding. Tiger Global led, and was joined by Owl Rock Capital, the Collison brothers and insiders backers Citi Ventures, Slack Fund, 8VC and Round13 Capital. http://axios.link/h2Cz
- DuckDuckGo, a Paoli, Pa.-based privacy-focused search engine, raised $100 million in largely secondary sales from investors such as Omers Ventures, Thrive, GP Bullhound, Impact America Fund, WhatsApp founder Brian Acton; inventor of the world wide web Tim Berners-Lee; VC and diversity activist Freada Kapor Klein; and entrepreneur Mitch Kapor.
- Vianai Systems, Palo Alto, Calif.-based A.I. startup founded by former Infosys CEO Vishal Sikka, raised $140 million. SoftBank Vision Fund 2 led the round.
- Bringg, a Chicago-based delivery and fulfillment platform provider, raised $100 million in Series E funding. Insight Partners led the round and was joined by investors including Cambridge Capital, GLP, Harlap, Next 47, Pereg Ventures, Salesforce Ventures, and Viola Growth.
- Immersive Labs, a Bristol, U.K.-based cybersecurity training startup, raised $75 million in Series C funding. Insight Partners led the round and was joined by investors including Menlo Ventures, Citi Ventures and Goldman Sachs Asset Management.
- Imply, a Burlingame, Calif.-based analytics platform maker, raised $70 million in Series C funding. Bessemer Venture Partners led the round and was joined by investors including Tiger Global Management, A16Z, Khosla Ventures, and Geodesic Capital.
- Formative, a Santa Monica, Calif.-based student data platform, raised $70 million. Summit Partners led the round and was joined by investors including Emerson Collective, Fika Ventures, Mac Ventures and Rethink Education.
- Popmenu, an Atlanta-based software platform for restaurants, raised $65 million in Series C funding. Tiger Global Management led the round and was joined by investors including Salesforce Ventures, Bedrock Capital, Base10, and Felicis Ventures.
- Templafy, a New York City-based platform for businesses to create content, raised $60 million. Blue Cloud Ventures with participation from all previous investors such as Insight Partners, Seed Capital, Dawn Capital, and Damgaard Company.
- Gloat, a New York-based talent marketplace, raised $57 million in Series C funding. Accel led, and was joined by Eight Roads, Intel Capital, Magma Venture Partners and PICO Partners.www.gloat.com
- Duda, a Palo Alto, Calif.-based platform to build websites for businesses, raised $50 million in Series D funding. Claridge IL led the round and was joined by investors including Susquehanna Growth Equity and Vintage Investment Partners.
- Motorway, a U.K.-based platform to sell cars, raised £48 million in Series B funding. Index Ventures led the round and was joined by investors including BMW i Ventures and Unbound.
- JOOR, a New York City-based digital wholesale platform for luxury, fashion and home, raised $46 million in Series D funding. Macquarie Capital Principal Finance led the round and was joined by investors including ITOCHU Corporation, Battery Ventures and Canaan Partners.
- nate, a New York-based shopping app, raised $38 million in Series A funding. Renegade Partners led the round and was joined by investors including Forerunner Ventures, Canaan Partners and Coatue Management.
- Fiddler AI, a Palo Alto, Calif.-based startup with tools to help engineers monitor machine-learning systems, raised $32 million in a funding. Insight Partners led the round and was joined by investors including Lightspeed Venture Partners, Lux Capital, Haystack Ventures, Bloomberg Beta, Lockheed Martin, and Amazon's Alexa Fund.
- Transform, a San Francisco-based startup maker of a centralized metrics platform for companies, raised $24.5 million in funding, including $20 million in Series A led by Index Ventures and Redpoint Ventures.
- Hello Alice, a Houston-based platform connecting small business owners to funding, raised $21 million in Series B funding. QED Investors led the round and was joined by investors including Backstage Capital, Green Book Ventures, Harbert Growth Partners, and How Women Invest.
- Macrometa Corporation, a Palo Alto, Calif.-based edge computing cloud and data network for developers, raised $20 million in Series A funding. Pelion Venture Partners led the round and was joined by investors including DNX Ventures, Benhamou Global Ventures, Partech Partners, Fusion Fund, Sway Ventures, and Shasta Ventures.
- Carbyne, a New York City-based emergency collaboration platform maker, raised $20 million. Investors included Hanaco VC, Intercap VC, and Elsted Capital.
- SkyWatch Space Applications, a Canada-based space technology startup, raised $17.2 million in Series B funding. Drive Capital led the round and was joined by investors including Bullpen Capital, Space Capital, Golden Ventures, and BDC Ventures.
- BookClub, Salt Lake City-based author-led virtual book club platform, raised $20 million in Series A funding. Signal Peak Ventures led the round and was joined by investors including GSV Ventures, Maveron, Backstage Capital, and Pelion Venture Partners.
- Sense, a San Francisco-based recruiting platform, raised $16 million in Series C funding. Avataar Venture Partners led the round and was joined by investors including Accel and GV.
- ThreatX, a Denver, Colo.-based web application and API protection platform, raised $10 million in funding led by .406 Ventures. Existing investors Access Venture Partners and Grotech Ventures, also participated.
- UtilizeCore, a New York City-based power service management tech provider, raised $5.3 million. boldstart ventures led the round and was joined by investors including S12F and Mantis VC.
- Specto, a San Francisco-based customer data and analysis company, raised $3.25 million in seed funding, with participation from Susa Ventures, Fuel Capital, Bain Capital Ventures, Liquid2 Ventures, SV Angel, Mike Vernal and Mary Pimenova.
- Monograph, a San Francisco-based maker of operations software for design professionals, raised $7.4 million in Series A funding. Investors included Homebrew, Parade Ventures, and Designer Fund.
- Wagr, a Boston-based maker of a social sports betting app, raised $4 million in seed funding. Seven Seven Six led the round and was joined by investors including Greycroft, Pear Ventures, Justin Mateen (Tinder Co-founder), Brad Martin (Retired Chairman & CEO of Saks Incorporated), and Joe Baker (Founder of Ole Smoky).
- Selfbook, a New York City-based maker of management and booking software for hotels, raised $2 million in seed funding. TenOneTen Ventures, Abstract Ventures, and Better Tomorrow Ventures.
. . .
Sustainability:
- Ecologi, a carbon-offset startup, raised £4 million ($5.7 million). General Catalyst led the round.
- Minimum, a London-based startup that makes apps to calculate personal carbon emissions, raised $2.6 million in seed funding. Octopus Ventures led the round and was joined by investors including Clocktower Ventures, Dutch Founders Fund, Plug & Play Ventures, and AGO Partners.
Acquisitions & PE:
- Oaktree Capital Management will invest up to $375 million in Primary Wave Music, a New York-based company that manages songs from Bob Marley and Whitney Houston.
- Battery Ventures acquired SaaSOptics, a Norcross, Ga.-based subscription management platform, from Fulcrum Equity Partners. Financial terms weren't disclosed.
- Cano Health (NYSE: CANO) is in talks to acquire University Health Care, a Miami-based medical care provider, for $600 million, per Bloomberg.
- Z Capital Group will merge Affinity Gaming and Sports Information Group, two of its portfolio companies in the casino and online betting spaces respectively, per Bloomberg. A deal will value the company at $1.3 billion including debt.
- Hopin, a London-based virtual events platform, acquired Boomset, a New York-based provider of onsite event solutions. Hopin was valued earlier this year at $6.5 billion in a Series C round co-led by Andreessen Horowitz, General Catalyst and insider IVP. http://axios.link/uum5
- Repay Holdings Corporation (NASDAQ: RPAY) acquired BillingTree, a Scottsdale, Ariz.-based billings company, for about $503 million.
- Clearlake Capital agreed to acquire Confluence Technologies, a software and data solutions provider helping the investment management, from TA Associates. Financial terms weren't disclosed.
- JPMorgan Chase (NYSE: JPM) bought British digital wealth manager Nutmeg, which had over £3.5 billion in AUM. Nutmeg raised over $160 million from firms like Pentech Ventures, Goldman Sachs, Convoy Global, Draper Associates and Balderton Capital. http://axios.link/yhIr
- GoPuff, a Philadelphia-based instant delivery platform recently valued at nearly $9 billion by VCs, acquired rideOS, a San Francisco-based fleet management platform, for $115 million. RideOS raised around $34 million from firms like Next47, ST Engineering Ventures and Sequoia Capital. http://axios.link/BzdF
- Spotify (NYE: SPOT) acquired Podz, a New York-based podcast discovery platform that had been seeded by firms like M13 and Canaan Partners. http://axios.link/rZy6
. . .
IPOs:
- Convey Health, a Ft. Lauderdale, Fla.-based provider of Medicare-focused software and services, raised $187 million in its IPO. It priced at the low end of its $14–$16 range, for an $858 million market cap, and will list on the NYSE (CVY). Convey is owned by TPG and reports a $1 million net loss on $83 million in revenue for Q1 2021. http://axios.link/Boi6
- WalkMe, an Israeli digital adoption platform for enterprises, raised $287 million in its IPO. It priced at $31 per share ($29–$32 range), for a $2.56 billion market cap, with shares closing at $28.81 on its first day of trading (Nasdaq: WKME). The company had raised over $250 million from firms like Insight Partners (31.9% pre-IPO stake), Greenspring Associates (14.1%), Scale Venture Partners (12.9%), Gemini Israel (10.5%) and Mangrove Capital Partners (8.6%). http://axios.link/H7e5
- Sprinklr, a New York-based customer experience management platform, set IPO terms to 19 million shares at $18-$20. It would have a fully diluted value of $5.5 billion, were it to price in the middle, and plans to list on the NYSE (CXM). Sprinklr reports a $41 million net loss for 2020 on $387 million in revenue and raised around $880 million from firms like Hellman & Friedman, Battery Ventures, Iconiq, Sixth Street, JC2 Ventures and Revolution. http://axios.link/L8LF
- Bright Health Group, a Minneapolis-based health insurtech, plans to raise as much as $1.4 billion in a raise of 60 million shares priced at $20 to $23 apiece. NEA and Bessemer Venture Partners back the firm.
- Full Truck Alliance, a New York-based freight platform, plans to raise $1.6 billion in an IPO of 82.5 million ADSs priced between $17 and $19 apiece. SoftBank and Sequoia back the firm.
- Doximity, a San Francisco-based maker of telehealth and scheduling tools, now plans to raise as much as $536 million in an offering of 23.3 million shares (18% insider) priced between $20 and $23 apiece. Investors include Emergence Capital Partners and InterWest Partners.
- Confluent, a Mountain View, Calif.-based data streaming platform, now plans to raise $759 million in an offering of 23 million shares priced between $29 to $33. Existing investors Coatue Management and Altimeter Capital plan to acquire some 3.5 million shares.
- All Market, the company behind coconut water brand Vita Coco, is planning to go public this year, per Bloomberg, citing sources. Read more.
. . .
SPACs:
- Thrasio, a Waltham, Mass.-based acquirer of Amazon businesses, is in talks to go public via merger with Churchill Capital Corp. V, a SPAC from Michael Klein, per Bloomberg. Thrasio is backed by investors including Advent International.
- Boxed, a New York-based e-commerce grocery shopping platform selling bulk consumable goods, will go public via merger with Seven Oaks Acquisition, a SPAC, valuing it at $900 million.
Funds:
- SOSV, a Princeton, N.J.-based venture firm, raised $100 million for the SOSV Select Fund.
- Apollo Global Management, Ares Management Corporation, and Oaktree Capital Management, announced a 10-year, $90 million initiative to train and attract college students attending three Historically Black Colleges and Universities: Clark Atlanta University, Morehouse College and Spelman College.
- 8VC, an Austin-based venture fund, plans to raise $640 million for a fourth fund and $880 million for its second opportunity fund.
- 20VC, a London-based investment firm run by Harry Stebbings, raised $140 million with $33 million for an early-stage vehicle and $107 million for growth-stage investments.
- Fox Corp., the New York City-based organization behind Fox News, launched a fund with $100 million focused on nonfungible tokens, per Bloomberg.
- Third Point, a New York City-based hedge fund, is set to raise $350 million for its first venture fund.
- Lead Edge Capital, a New York City and Santa Barbara, Calif.-based growth stage investment fund, closed its public market fund with $150 million.
Final Numbers
Source: U.S. Census Bureau
Source: McKinsey & Co.