Sourcery (6/27-7/1)
Hamptons ~ Pave, Tenet, HomeLister, Dynamic, Nomad Health, Tomorrow Health, Medallion, Kangarootime, Regard, Aware, Fitmint, Entrepreneur First, Gloat, Front, Shop Circle, WorkMotion...
Happy Fourth of July weekend and the official start to Hamptons summer season.
Apologies for hitting your inbox a day late, we got stuck waiting in line for the Chainsmokers at Surf Lodge.
Any who, last week was the first week in a while that deal announcements had a noticeable slowdown, but we managed to pull together a great list of the top ones across categories. Is it the summer slowdown? Hamptons traffic on Montauk Highway? An active downturn? A crypto winter in the summer? All of the above? Probably.
I’ll keep it short so you can breeze through and get back to waiting in line for a Goldberg’s Bagel, Montauk Bake Shoppe or just simply putting your name down for Duryea’s lunch.
Follow us on Twitter Linkedin for just the top deals recap
. . .
Last Week (6/27-7/1):
Relevant deals include the 60+ deals across stages below.
I've categorized the deals below into four categories, Fintech, Care, Enterprise & Consumer, and Sustainability, and ordered from later-stage rounds to early-stage rounds. Highlighted deals include Pave, Tenet, HomeLister, Dynamic, Nomad Health, Tomorrow Health, Medallion, Kangarootime, Regard, Aware, Fitmint, Entrepreneur First, Gloat, Front, Shop Circle, WorkMotion, Snowplow, Evinced, Normalyze, Workvivo, TaskHuman, Salesroom, Hank, HeyDey, Helios, Zing Data, Adwisely, Intersect Power, Eclipse Foods, ESG Book, Circular, Vibrant Planet
Final numbers on Robinhood Stock Price at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Pave, a San Francisco-based compensation platform, raised $100 million in Series C funding. Index Ventures led the round and was joined by investors including Andreessen Horowitz, YC Continuity Fund, LocalGlobe, Craft Ventures, Original Capital, Backend Capital, Contrary Capital, and other angels. The company also acquired Advanced-HR, a San Francisco-based HR platform, from Morgan Stanley.
- PolySign, a New York, Oakland, and San Francisco-based digital asset infrastructure development company for financial institutions, raised $53 million in Series C funding. Cowen Digital, Brevan Howard, GSR, and others invested in the round.
- Hokodo, a London-based BNPL startup, raised $40m in Series B funding. Notion Capital led, and was joined by Korelya Capital, Mundi Ventures, Opera Tech Ventures, Anthemis and Mosaic Ventures. http://axios.link/yAtr
- April, a New York-based personal income tax platform, raised $30m in Series A funding. Treasury led, and was joined by QED Investors, Nyca Partners, Team8, Euclidean Capital and Atento Capital. www.getapril.com
- Tenet, a New York-based EV financing platform, raised $18 million in seed funding. Human Capital and Giant Ventures led the round and were joined by investors including Breyer Capital, Global Founders Capital, Firstminute Capital, and other angels.
- WiredScore, a New York-based real estate certification company, raised $15 million in Series B funding. Beringea led the round and was joined by investors including Cushman & Wakefield, Crow Holdings, Taronga Ventures, Fifth Wall, Bessemer Venture Partners, and Jona Capital.
- Stake, a New York-based banking services provider to renters, raised $12 million in Series A funding. RET Ventures led the round and was joined by investors including Enterprise Community Partners, Hometeam Ventures, Operator Stack, Second Century Ventures, Shadow Ventures, and Olive Tree Ventures.
- HomeLister, a Santa Monica, Calif.-based online home selling platform, raised $10 million in Series A funding co-led by M13 and Homebrew.
- Dynamic, a remote-based multi-chain, wallet-based authentication and authorization platform, raised $7.5 million in seed funding. A16z crypto led the round and was joined by investors including Castle Island Ventures, First Round Capital, Solana Ventures, Chapter One, Circle Ventures, Hypersphere, Breyer Capital, at.inc/, Sheva, Shine Capital, and others.
- System 9, an LA-based crypto asset market-maker, raised $5.7m. Capital6 Eagle led and was joined by Kronos Asset Management, C2 Ventures, Gate Ventures and Ascendex Ventures. www.system9.io
- Edge Tradeworks, a Charlotte, N.C.-based whole loan trading platform, raised an undisclosed amount of funding from FTX Ventures. www.edgetradeworks.com
. . .
Care:
- Nomad Health, a New York-based health care staffing marketplace, raised $105m in equity and debt funding. Adams Street Partners and Icon Ventures co-led the equity, and were joined by HealthQuest Capital Polaris Partners, .406 Ventures, AlleyCorp and RRE Ventures. Debt came from JPMorgan and Trinity Capital. http://axios.link/NLRA
- PicnicHealth, an SF-based medical data sharing startup, raised $60m in Series C funding led by B Capital Group, as first reported by Axios Pro. http://axios.link/bX0a
- Tomorrow Health, a New York-based home-based care company, raised $60 million in Series B funding. BOND led the round and was joined by investors including Andreessen Horowitz, Obvious Ventures, BoxGroup, and Sound Ventures.
- Medallion, an SF-based health care provider management startup, raised $35m in Series C funding, bringing total funding to $85m. Spark Capital and GV co-led, and were joined by Salesforce Ventures, Sequoia Capital, Optum Ventures, BoxGroup and Elad Gil. www.medallion.co
- Birdie, a London-based home health care tech platform, raised $30 million in Series B funding. Sofina led the round and was joined by investors including OMERS Ventures and Index Ventures.
- Euclid, a Boston-based AI for cardiovascular disease diagnosis, raised $27m in Series B funding. Biovision Ventures led, and was joined by MedTex Ventures, IAG Capital, Bold Brain Ventures and BlueStone Venture Partners. http://axios.link/GW0t
- Kangarootime, a Buffalo, N.Y.-based provider of child care management software, raised $26m in Series B funding. Education Growth Partners led, and was joined by insiders Cultivation Capital and Rise of the Rest. www.kangarootime.com
- Socially Determined, a Washington D.C.-based health care analytics company, raised $26 million in Series B funding. Questa Capital led the round and was joined by investors including CareFirst BlueCross BlueShield, LRVHealth, OSF Healthcare, and Ziegler Link-Age Funds.
- Cordio Medical, an Or Yehuda, Israel-based medical speech processing platform, raised $18 million in funding. Ceros Financial Services and Peregrine Ventures invested in the round.
- Ria Health, a San Francisco-based telehealth provider for alcohol use disorder treatment, raised $18 million in Series A funding. SV Health Investors led the round and was joined by investors including SV limited partner, BPEA Private Equity, and SOSV.
- Regard (fka HealthTensor), an LA-based developer AI "co-pilot" to aid in physician diagnoses, raised $15.3m in Series A funding co-led by Calibrate Ventures and Foundry Group. www.withregard.com
- Aware, a Berlin-based app for digitized medical checkups, raised $15m in seed funding co-led by Lakestar, Cherry Ventures and June Fund. www.aware.app
- Sensible Care, a Santa Ana, Calif.-based online behavioral health provider, raised $13 million in Series A funding. Volition Capital led the round and was joined by Skyline Investors.
- STRIVE, a Seattle-based muscle data platform, raised $6 million in Series A funding. Future Communities Capital led the round and was joined by investors including NFL athlete Jonathan Taylor and former NFL athlete Troy Smith.
- Fitmint, a Bengaluru-based fitness app where you earn cryptocurrency, raised $1.6 Million in seed funding. General Catalyst led the round and was joined by investors including iSeed, Kearny Jackson, Dweb3, 1947 Rise, and others.
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Enterprise & Consumer:
- Entrepreneur First, a London-based investor in early stage founder talent, raised $158 million in Series C funding. Stripe founders Patrick and John Collison, LinkedIn co-founder Reid Hoffman, Certific co-founder Taavet Hinrikus, and WordPress co-founder Matt Mullenweg invested in the round.
- Gloat, a New York-based career development platform, raised $90m in Series B funding. Generation Investment Management led, and was joined by Accel, Eight Roads Ventures, Intel Capital and Lumir Ventures. www.gloat.com
- Front, an SF-based communication hub for customer relationships, raised $65m in Series D funding at a $1.7b valuation. Salesforce Ventures and Battery Ventures co-led, and were joined by PagerDuty CEO Jennifer Tejada and insiders Sequoia Capital, Threshold Ventures and Uncork Capital. www.front.com
- Shop Circle, a U.K.-based e-commerce software startup, raised $65m in funding led by NFX and QED Investors, with 645 Ventures, FirstMinute Capital and Triple Point Capital also participating. http://axios.link/H7tp
- Speechmatics, a U.K.-based automated speech recognition startup, raised $62m in Series B funding. Susquehanna Growth Equity led, and was joined by AlbionVC and IQ Capital. http://axios.link/DDac
- WorkMotion, a German global HR management platform, raised $50m in Series B funding. Canaan Partners led, and was joined by Activant Capital, XAnge and Picus Capital. www.workmotion.com
- Snowplow, a London-based data creation platform for AI and biz intelligence, raised $40m in Series B funding from NEA, Atlantic Bridge and MMC. http://axios.link/qDEl
- Evinced, a Palo Alto-based software company, raised $38 million in Series B funding. Insight Partners led the round and was joined by investors including M12, BGV, Capital One Ventures, and Engineering Capital.
- Incredibuild, a Tel Aviv-based hybrid development acceleration platform provider for developers and DevOps teams, raised $35 million in Series B funding. Hiro Capital led the round and was joined by Insight Partners.
- Nautical Commerce, a New York-based multi-vendor platform for marketplaces, raised $30 million in Series A funding. Drive Capital led the round and was joined by investors including Accomplice Ventures and Golden Ventures.
- Modular, an AI system development platform, raised $30m in seed funding. GV led, and was joined by Greylock, The Factory and SV Angel. http://axios.link/VoSw
- Keyway, a New York-based commercial real estate sales platform, raised $25m in Series A funding. Camber Creek led, and was joined by Canvas Ventures, Crosscut, Montage Ventures, Thomvest and Parker89. www.whykeyway.com
- Normalyze, a San Francisco-based cloud security platform, raised $22.2 million in Series A funding co-led by Battery Ventures and Lightspeed Venture Partners.
- Opaque Systems, a San Francisco-based analytics and A.I. platform for confidential computing, raised $22 million in Series A funding. Walden Catalyst Ventures led the round and was joined by investors including Storm Ventures, Thomvest Ventures, Intel Capital, Race Capital, The House Fund, and FactoryHQ.
- Workvivo, a Cork, Ireland and Boston-based employee experience app, raised $22 million in Series B funding from Tiger Global.
- TaskHuman, a Palo Alto-based digital coaching platform, raised $20m in Series B funding. Madrona led, and was joined by Impact VC, RingCentral Ventures, Sure Ventures, USVP, Gaingels, PeopleTech Angels, Propel(x) and Zoom Ventures. http://axios.link/gwxI
- Zigazoo, a Miami-based social network and NFT education platform for kids, raised $17 million in Series A funding. Liberty City Ventures led the round and was joined by investors including Causeway, The NBA, Dapper Labs, OneFootball, Medici VC, Animoca Brands, Lightspeed Venture Partners, Core Ventures, Spartan Group, and TikTok celebrities Charli and Dixie D’Amelio.
- ConductorOne, a remote-based identity security platform, raised $15 million in Series A funding. Accel led the round and was joined by investors including Fuel Capital, Fathom Capital, Active Capital, and others.
- Kogniz, a Berkeley, Calif.-based computer vision platform, raised $10 million in funding. Ulu Ventures led the round and was joined by investors including super{set} Venture Studio and its CEO and co-founder Tom Chavez, The Indy Fund, K20 Fund, H. Barton Asset Management, and others.
- Audience, a Miami-based outbound marketing platform, raised $10 million in Series A funding led by Next Coast Ventures.
- Salesroom, a Boston-based video conferencing platform for sales professionals, raised $8.5 million in seed funding. Craft Ventures led the round and was joined by investors including Village Global, Seedcamp, WndrCo, Asymmetric Capital, and other angels.
- Trinsic, a Salt Lake City-based infrastructure platform for developers, raised $8.5 million in seed funding. Georgian led the round and was joined by investors including Auth0 founding CEO Jon Gelsey, Okta co-founder and COO Frederic Kerrest, Kickstart Seed Fund, Founder’s Co-op, Osage Venture Partners, Forward VC, and other angels.
- oak9, a Chicago-based cybersecurity platform, raised $8 million in additional funding. Cisco Investments and Morgan Stanley’s Next Level Fund invested in the round.
- Veritonic, a New York-based audio analytics and research platform, raised $7.5 million in Series A funding. Lavrock Ventures led the round and was joined by investors including Progress Ventures, Greycroft, Lerer Hippeau, and Newark Venture Partners.
- Hank, a New York-based community building platform for older adults, raised $7 million in seed funding co-led by General Catalyst and Resolute Ventures.
- Screenloop, a London-based hiring intelligence platform, raised $7 million in seed funding. Stride VC led the round and was joined by investors including Ludlow Ventures, All Iron Ventures, Passion Capital, and Indeed founder Paul Forster
- Heydey, an AI-powered research assistant, raised $6.5m in seed funding. Spark Capital led, and was joined by Abstract Ventures, the Not Boring syndicate, Ride Ventures and Spacecadet Ventures. www.heydey.xyz
- AI Squared, a Washington, D.C.-based, raised $6m in seed funding. NEA led, and was joined by Ridgeline Partners. http://axios.link/zVFj
- Helios, a Tel Aviv-based application development platform, raised $5 million in seed funding. Entrée Capital and Amiti VC led the round and were joined by investors including Benny Schnaider, Snyk co-founder Guy Podjarny, Skycure co-founders Adi Sharabani and Yair Amit, and New Relic’s Guy Fighel.
- Focalpoint, a procurement modernization startup, raised $3m in seed funding from Susa Ventures, Amplo, GoPoint Ventures, Bungalow Capital and Operator Partners. http://axios.link/Tsql
- Zing Data, an SF-based mobile app for accessing enterprise data, raised $2.4m in seed funding. Kindred Ventures led, and was joined by Correlation Ventures. http://axios.link/rH2x
- Adwisely, a Wilmington, Del.-based ad automation platform for e-commerce DTC brands, raised $1.5 million in seed funding. TMT Investments led the round and was joined by investors including Gaingels, Mana Ventures, Cabra VC, ICU Ventures, and other angels.
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Sustainability:
- Intersect Power, a Beaverton, Ore.-based solar energy project developer, raised $750 million in funding. TPG Rise Climate led the round and was joined by investors including Climate Adaptive Infrastructure and Trilantic Energy Partners North America.
- Eclipse Foods, an Oakland-based plant-based dairy products provider, raised $40 million in Series B funding led by Sozo Ventures. Forerunner Ventures, Initialized Capital, KBW Ventures, and Gaingels invested in the round.
- ESG Book, a London-based sustainability data and technology platform, raised $35 million in Series B funding. Energy Impact Partners led the round and was joined by investors including Meridiam and Allianz X.
- Circulor, a British startup that maps supply chains for greener production, raised $25m in Series B funding. Westly Group led, and was joined by HG Ventures, Volvo Cars Technology Fund, Systemiq Capital, Jaguar Land Rover’s InMotion Ventures, Future Positive Capital, BHP Ventures, Salesforce Ventures and 24Haymarket. http://axios.link/ugMk
- Tenet, a fintech startup that offers EV-specific auto loans, raised $18m in seed funding, per Axios Pro. Human Capital and Giant Ventures led, and were joined by Breyer Capital, Global Founders Capital and Firstminute Capital. http://axios.link/MmlK The New York-based startup wants to help offset the "green premium" many consumers associate with EVs and home electrification.
- Vibrant Planet, a San Francisco-based forest restoration and land management platform, raised $17 million in seed funding. Ecosystem Integrity Fund and The Jeremy and Hannelore Grantham Environmental Trust led the round and were joined by investors including Valia Ventures, Earthshot Ventures, Elemental Excelerator, Cisco, Day One Ventures, Halogen Ventures, and other angels.
Acquisitions & PE:
- Citi Spread Products Investment Technologies acquired a minority stake in Claira, a New York-based document intelligence fintech. Financial terms were not disclosed.
- ServiceTitan acquired Schedule Engine, a Chicago-based online booking for home services provider. Financial terms were not disclosed.
- Carta, the startup equity manager valued by VCs at $7.4b, acquired Vauban, a London-based alternative investing platform that had raised around $10m from firms like Pentech Ventures, 7percent Ventures, West Loop Ventures, Argonautic Ventures and Kima Ventures. http://axios.link/PJpl
. . .
IPOs:
Nothing to see here…
. . .
SPACs:
Nothing to see here…
Funds:
- Drive Capital, a Columbus, Ohio-based VC firm, raised $1b in new venture funds. http://axios.link/erFS
- Shamrock Capital is raising $500m for its third content fund, which focuses on global entertainment, per an SEC filing. www.shamrockcap.com
- MaC Venture Capital, a Los Angeles and Silicon Valley-based venture capital firm, raised $203 million for a fund focused on their cultural portfolio investments.
- Konvoy Ventures, a Denver-based gaming VC firm, is raising $150m for its third fund, per an SEC filing. www.konvoy.vc
- Bloomberg Beta, an early-stage VC firm focused on the future of work, raised $75m for its fourth flagship fund and $75m for a new opportunity fund. http://axios.link/jNvw
- Conversion Capital raised $122m for its second VC fund. www.conversioncapital.com
- MassMutual Ventures, a Boston-based venture capital firm, raised $100 million for a fund focused on early and growth-stage companies in the financial technology, cybersecurity, enterprise SaaS, and digital health sectors.
Final Numbers
Data: Yahoo Finance; Chart: Simran Parwani/Axios
Robinhood shares jumped 14% Monday on a Bloomberg report that crypto exchange FTX is considering an acquisition offer.
What to know: FTX founder and CEO Sam Bankman-Fried tells Axios' Crystal Kim that "there are no active conversations with Robinhood," although that statement obviously doesn't preclude FTX from starting talks at any moment.
Bankman-Fried, who last month disclosed a 7.6% personal ownership stake in Robinhood, adds: "We are excited about Robinhood's business prospects and potential ways we could partner with them, and I have always been impressed by the business that [CEO Vladimir Tenev] and his team have built."
The material presented on Molly O’Shea’s website are my opinions only and are provided for informational purposes and should not be construed as investment advice. It is not a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy, or investment product. Any analysis or discussion of investments, sectors or the market generally are based on current information, including from public sources, that I consider reliable, but I do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. My views and opinions expressed in any website content are current at the time of publication and are subject to change. Past performance is not indicative of future results.
Girl you go everywhere!!!!!!!!! Chainsmokers surfs lodge that sounds so fun. Hampton’s yes it is summer. And happy 4th!!!!!!! Great read. Keep up the great work!!!!!!! You are like a straight Boss you travel all over the world. So your swag level is at like 100. I’m Maui bound. Aloha.