Sourcery (6/22-6/26)
Canva, Dispatch Health, Sonder, ClickUp, DoNotPay, NCino, Zoox, Lemonade, and BigCommerce.
Last Week (6/22-6/26):
Relevant deals include the 60+ deals across stages below.
I've categorized the deals below into three categories, Care, Future of Work and Sustainability, and ordered from later-stage rounds to early-stage rounds. Highlighted deals include: Canva, Dispatch Health, Sonder, ClickUp, DoNotPay, NCino, Zoox, Lemonade, and BigCommerce.
Final numbers on Pandemic VC at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Care:
- DispatchHealth, a Denver, Colo.-based provider of in-home health care, raised $135.8 million in Series C funding. Optum Ventures led the round and was joined by investors including Alta Partners, Questa Capital, Echo Health Ventures, and new investors Oak HC/FT and Humana.
- Cedar, a four-year-old, New York-based health care financial engagement platform for hospitals, health systems and medical groups, has raised more than $102 million in Series C funding led by Andreessen Horowitz. The round, which also featured $25 million in debt funding from JPMorgan, included additional participation from Kaiser Permanente and earlier investors Kinnevik, Thrive Capital, Lakestar and Founders Fund, among others. Crunchbase News has more here.
- BrightInsight, a three-year-old, San Jose, Ca.-based startup whose platform aims to secure, manage and analyze medical device and software data, has raised $40 million in Series B funding led by Insight Partners, with participation from New Leaf Venture Partners and Eclipse Ventures. TechCrunch has more here.
- Avive Solutions, Inc., a San Francisco, CA-based healthcare technology company, raised an additional $7m in funding (read here)
- Calibrate, a New York-based one-year telemedicine program that helps overweight shed pounds, raised $5.1 million in seed funding. Kirsten Green at Forerunner Ventures led the round and was joined by Redesign Health.
- APDS, a six-year-old, New York-based public benefit corporation focused on education for the incarcerated (APDS is an acronym for American Prison Data Systems), has raised $5 million funding. Earlier backers New Markets Venture Partners and ReThink Education, led the round, joined by numerous other new and existing investors. More here.
- Tatch, a New York-based startup developing a patch to diagnose sleep disorders, raised $4.3 million in seed funding. Spark Capital led the round and was joined by investors including Abstract Ventures and Correlation Ventures. Read more.
- optimize.health, a Seattle-based healthcare platform for provider reimbursements, raised $3.5 million in seed funding from Bonfire Ventures.
- Agamon, a London-based health-care A.I. startup, raised $3 million in seed funding. MMC Ventures led the round and was joined by investors including InHealth Ventures, Seedcamp, and Bayer G4A.
- Afia, an Austin-based maker of frozen Mediterranean food, raised $1 million in funding from Unorthodox Ventures.
. . .
Future of Work:
- Tanium, a provider of endpoint management and security, raised an undisclosed amount from Salesforce Venture. The funding raises Tanium’s valuation from $6.5 billion to $9 billion.
- Oscar, a New York-based direct-to-consumer health insurance company, raised $225 million in funding round. Investors include Alphabet, General Catalyst, Khosla Ventures, Lakestar, Thrive Capital, and new investors Baillie Gifford and Coatue.
- Checkout.com, a London-based payment solution provider, raised $150 million in Series B funding, valuing it at $5.5 billion. Coatue led the round and was joined by investors including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC.
- Canva, a Sydney-based design platform, raised $60 million in funding valuing it at $6 billion. Investors included Bond, General Catalyst, Sequoia Capital China, Felicis Ventures and Blackbird Ventures .
- Workhuman, an Ireland-based performance management platform, is now valued at $1.2 billion after Intermediate Capital Group bought an undisclosed amount of shares from existing backers, per The Irish Times. http://axios.link/bhC0
- Sonder, an eight-year-old, San Francisco-based company that leases apartments and turns them into furnished short-term rentals, has raised $170 million in Series E funding at a post-money valuation of $1.3 billion. Fidelity Funds, Westcap and Inovia Capital led the round, joined by Spark Capital, Greenoaks, Valor Equity, Greylock, Atreides Capital, Tao Capital, and Lennar. The Real Deal has more here.
- Swile, a four-year-old, Paris, France-based employee rewards and benefits company that creates digital meal vouchers used by employees, has raised €70 million ($78.7 million in Series C funding led by Index Ventures, with participation from Bpifrance and Idinvest. Index had also led the company's Series B round. TechCrunch has more here.
- Pipe, a Los Angeles-based SaaS subscription financing platform, raised $60 million in new seed funding. Fin VC led, and was joined by Tribe Capital, Uncorrelated Ventures, Lachy Groom, Anthemis, Craft Ventures, Fika Ventures, and MaC Ventures. http://axios.link/b8Wm
- UJET, a San Francisco-based provider of cloud customer support solutions, raised $55 million in funding. Sapphire Ventures led the round and was joined by investors including GV,, Citi Ventures, Kleiner Perkins, DCM, and Resolute Ventures.
- SevenRooms, a New York-based guest experience platform for the hospitality industry, raised $50 million in Series B funding led by Providence Strategic Growth.
- Immuta, a six-year-old, Maryland-based automated data governance startup, has raised $40 million in Series C funding led by Intel Capital. More here.
- Hopin, a London-based virtual events provider, raised $40 million in Series A funding. IVP led the round and was joined by investors including Salesforce Ventures, Accel, Northzone, Seedcamp, and Slack Fund.
- Neeva, an 18-month-old, Mountain View, Ca.-based search engine that looks for information on the web, as well as personal files like emails and other documents has raised $37.5 million in funding. Sridhar Ramaswamy, a former Google executive who was in charge of the company's advertising arm, founded the company and led its round along with Greylock (where Ramaswamy is also a venture partner), and early Google backer Sequoia Capital. The New York Times has more here.
- ClickUp, a San Diego, Calif.-based workplace productivity platform, raised $35 million in Series A funding. Craft Ventures led the round and was joined by investors including Georgian Partners
- Away, a luggage startup known for its "smart" suitcases, has raised between $30 million and $40 million in new funding, Axios has learned. http://axios.link/OllX
- Rasa Technologies, a 3.5-year-old, San Francisco-based startup that has developed an open source-based platform for developers to build chatbots, voice apps and other services that employ conversational AI for interactivity, has raised $26 million in Series B funding. Andreessen Horowitz led the round, joined by Accel, 468 Capital, Basis Set Ventures, and Mango Capital. TechCrunch has more here.
- Nylas, a San Francisco-based provider of communications APIs for developers, raised $25 million in Series B funding. 8VC and Round13 Capital led the round and was joined by investors including Spark Capital, ScaleUP, and Slack Fund.
- CMG, a New York-based provider of workflow and real-time data analytics for capital markets transactions, raised $25 million from Barclays, Citi, Fidelity, Goldman Sachs, J.P. Morgan, Morgan Stanley and return backers Canaccord Genuity, Franklin Templeton, StageDotO, and Shea Ventures. http://axios.link/3CDt
- HelloOffice, a San Francisco-based commercial real estate brokerage, raised $20 million Series A funding. Point Ventures led the round and was joined by investors including Initialized Capital, Founders Fund, SaaStr, House Fund, and Jake Gibson.
- EasyKnock, a New York-based residential sale-leaseback company, raised $20 million in funding. Blumberg Capital and QED Investors co-led the round and were joined by investors including FJ Labs, Correlation, Moderne, 7BC and Interplay.
- Openly, a Boston-based homeowners insurance platform, raised $15 million in Series A funding. Obvious Ventures led the round and was joined by investors including Gradient Ventures and Point Judith Capital Ventures.
- Urjanet, an Atlanta-based utility account aggregator, raised $14.7 million in Series D funding. Investors include Equifax, Oak HC/FT, Pete Kight, Grotech Ventures and Correlation Ventures.
- DoNotPay, a five-year-old, U.K.-based subscription-based startup that has created dozens of bots to help consumers fight for their rights (say when it comes to an airfare refund), has raised $12 million in Series A funding led by Coatue. Other investors in the round include Andreessen Horowitz, Founders Fund, Felicis Ventures, and Day One Ventures. VentureBeat has more here.
- Avalanche, a New York-based open-source platform for launching decentralized finance applications, raised $12 million via token sale. Investors include Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, and Dragonfly Capital.
- Landed, a San Francisco-based residential real estate company, raised $10.5 million in Series A extension funding. OMERS Ventures led the round and was joined by investors including Initialized Capital.
- Codat, a London-based provider of financial software integration services for small businesses, raised $10 million led by Index Ventures. http://axios.link/dYci
- Jumbo Privacy, a cybersecurity firm, raised $8 million in Series A funding. Balderton Capital led the round.
- GoStudent, an Austrian online tutoring platform, raised €8.3 million in Series A funding. Left Lane Capital led, and was joined by DN Capital. http://axios.link/fiDo
- Syncari, a year-old, Fremont, Ca.-based data automation platform, has raised $6.5 million in seed funding led by SignalFire. More here.
- RenoFi, a Philadelphia-based home renovation loan provider,raised $6.4 million in Series A funding. Canaan Partners led the round and was joined by investors including First Round Capital and Comcast Ventures.
- Authomize, a Tel Aviv-based authorization management solution, raised $6 million in seed funding. Investors include Blumberg Capital, M12 Microsoft's venture fund, and Entrée Capital.
- Cape Privacy, a New York-based privacy platform for collaborative data science and machine learning, raised $5 million in seed funding. Boldstart Ventures and Version One led the round and were joined by Haystack, Radical, and Faktory Ventures.
- Candidate Labs, a San Francisco-based hiring platform for sales and marketing professionals, raised $5 million in seed funding. Investors include Signalfire, Fuel Capital, and BoxGroup.
- Teooh, a London-based avatar-based virtual gathering platform, raised $4.5 million in seed funding. Investors include Spark Capital and General Catalyst.
- 7bridges, a London-based supply chain tech company, raised $3.4 million in seed funding. Crane Venture Partners and LocalGlobe co-led the round.
- CognitOps, a three-year-old, Austin, Tex.-based startup that's developing a warehouse management software platform, has raised $3 million in funding led by Chicago Ventures, with additional participation from Schematic Ventures, CEAS Investments, and Churton Ventures. The company had raised a separate $3 million seed round last year. DC Velocity has more here.
- Treehouse, a Los Angeles-based gaming startup, raised $2.6 million in seed funding. LVP led the round and was joined by investors including Transcend Fund and Super Evil Megacorp CEO Kristian Segestrale.
- Todyl, a Denver, Colo.-based security, networking and compliance company for distributed workforces, raised $2.3 million in seed funding. Investors include TechOperators and Blu Venture Investors.
- Arena, a San Francisco, CA-based cloud-based experience and customer data platform (CDP) for consumer enterprises such as media, telecoms and e-commerce companies, raised US$2.3m in seed 2 funding (read here)
- Create & Learn, a Palo Alto-based firm teaching computer science in small online groups, raised $1.7 million in seed funding. GSV Ventures led the round.
. . .
Sustainability:
- Indigo Ag, a four year-old, Boston-based agtech startup that features an online grain marketplace and a carbon market to give farmers a financial incentive for sequestering carbon with regenerative agriculture (among other things), has raised $300 million in Series F funding, reports Axios. Backers include Riverstone Holdings and earlier investors Flagship Pioneering and Alaska Permanent Fund. More here.
- Soil Carbon, an Australian startup focused on converting atmospheric CO2 into soil carbon, raised US$6.8 million in seed funding. Horizons Ventures led, and was joined by Grok Ventures, Clean Energy Finance Corp., and Lowercarbon Capital. www.soilcarbon.co
- Quidnet Energy, which pumps water under pressure into subsurface geological reservoirs to store energy, raised $10M Series B from existing investors Breakthrough Energy Ventures and Evok Innovations with new investors Trafigura and The Jeremy and Hannelore Grantham Environmental Trust. Read more on Crunchbase News.
- Satelytics, maker of geospatial analytics software to identify problems like methane emissions and others for oil and gas, power, pipeline, rail, mining and water, raised $5M from BP. Read more
- CoInspect, a six-year-old, San Francisco-based startup that makes temperature monitoring sensors and a mobile checklist app to eliminate food waste and reduce refrigeration emissions, ha raised $4 million in seed funding led by Active Impact Investments. More here.
- Energicity, a developer and operator of microgrid utilities for offgrid communities in West Africa, raised $3.3M Seed from Ecosystem Integrity Fund. Read more on TechCrunch.
- Upcycle & Co, makers of a sustainable natural fertilizer, raised $825k Seed from Tech Coast Angels. Read more on AgFunder.
Exits:
- Shift Technologies Inc., a San Francisco-based online retailer for used cars, is in talks to merge with Insurance Acquisition Corp., a blank-check company backed by Cohen and Company, per Bloomberg citing sources. Shift is aiming for a valuation of over $500 million per a source. Read more.
IPOS:
- Yum China Holdings, the New York-listed restaurant operator of brands including KFC and Taco Bell in China, has filed confidentially for a Hong Kong listing that could raise about $2 billion, per Bloomberg citing sources. Read more.
- nCino, a Wilmington, Mass.-based cloud-based software for financial institutions, filed to raise $100 million. It posted revenue of $138.2 million in the year ending Jan. 2020, and a loss of $27.6 million. Investors include Insight Partners (46.6% pre-offering), Salesforce (13.2%), and Wellington Management (9.5%). It plans to list on the Nasdaq as “NCNO.” Read more.
- Lemonade, a New York-based provider of renters and homeowners insurance, plans to raise $270 million in an offering of 11 million shares priced between $23 to $26. SoftBank (27.3% pre-offering), Sequoia Capital Israel (10.3%) and Aleph (8.3%) back the firm. The company plans to list on the NYSE as “ LMND.” Read more.
- Accolade, a Plymouth Meeting, Pa.-based provider of a healthcare benefits management platform, plans to raise $175 million in an offering of 8.8 million shares priced between $19 to $21. Accretive (26.9% pre-offering), Andreessen Horowitz (13.2%), and Carrick Capital (8%) back the firm. It plans to list on the Nasdaq as “ACCD.” Read more.
- Pershing Square Tontine Holdings, a special purpose acquisition company formed by Bill Ackman to acquire "mature unicorns," filed for a $3 billion IPO. $3 billion would be the most money ever raised by a SPAC. And it may ultimately raise nearly $6.5 billion, based on concurrent plans to raise between $1 billion and $3 billion from funds associated with Ackman's hedge funds, plus up to another $450 million if banks exercise their overallotment options.
- F45 Training, a provider of group fitness classes backed by Mark Wahlberg, is in talks to go public by merging with SPAC Crescent Acquisition Corp., per Bloomberg. The company is expected to be valued at under $1 billion. Read more.
- MessageBird, a Dutch software company rivaling Twilio, is preparing for an IPO in 12 months. Read more.
- BigCommerce, an Austin-based e-commerce software developer, is preparin for an IPO this year, per Bloomberg. The deal could value the company at $1 billion. Investors include General Catalyst and GGV Capital. Read more.
Acquisitions:
- ServiceNow (NYSE: NOW) agreed to buy Sweagle, a Belgian configuration data management startup that had raised around $4 million from firms like XAnge Private Equity. http://axios.link/hB61
- Databricks, a San Francisco-based unified data analytics platform that’s raised nearly $900 million, bought Redash, an Israeli provider of data visualization dashboards. http://axios.link/eqhR
- Amazon unveiled a deal to acquire Zoox, a VC-backed maker of electric self-driving cars, for a reported $1.2 billion.
Funds:
- Creative Artists Agency and New Enterprise Associates formed an investment partnership called Connect Ventures. The fund will seek early-stage consumer-focused businesses with $100 million fund to start. Connect Ventures has invested in Spire Animation Studios, a new feature animation studio from Brad Lewis.
- Recast Capital has launched as a fund-of-funds focused on emerging VC managers. It’s co-founded by Courtney Russell McCrea (Weathergage Capital) and Sara Zulkosky (ex-Greenspring Associates). www.recastcapital.com
- Connect Ventures, a London-based seed-stage VC, raised $80 million for a new fund. Read more.
- Base10 Partners, a three-year-old, San Francisco-based early-stage venture firm that invests in startups using AI in industries like real estate, construction, waste management, and logistics, has closed its second fund with $250 million in capital commitments, just 1.5 years after announcing a $137 million initial fund. Base10 was one of the first venture funds with a black managing director -- Adeyemi Ajao, whose parents are Nigerian and Spanish -- to raise more than $100 million for its debut effort. TechCrunch has more here.
- 3L, a Los Angeles-based growth equity firm, is raising $400 million for its second fund, per an SEC filing. www.3lcap.com
-Addition, the new VC firm led by ex-Tiger Global investor Lee Fixel, is closing in on $1.3 billion for its debut fund, per the FT. http://axios.link/q9sc
- Amazon this week launched a new Climate Pledge Fund that will devote $2 billion to investing in sustainable and decarbonizing technologies. Two days later, the company revealed it has acquired the naming rights to the new NHL arena in its hometown of Seattle, with plans to dub the building Climate Pledge Arena. And on Friday, Amazon unveiled a deal to acquire Zoox, a VC-backed maker of electric self-driving cars, for a reported $1.2 billion.
Final Numbers: Pandemic VC
Source: PitchBook survey of 110 VC investors attending the Collision at Home conference (June 23-25).