Sourcery (6/28-7/2)
Bolttech, Tomo, Orum, Side, Karat, Codat, Pathpoint, Olive, Carbon Health, Sword, Kindbody, Osmind, Cake, Articulate Global, DataRobot, Zipline, Figma, Shipbob, dbt Labs, Translated, Pietra...
Last Week (6/28-7/2):
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 Smart, ClearScore, Bolttech, Tomo, Orum, Side, Karat, Codat, Entera, Pathpoint, Harness Wealth, Daylight, Olive, Carbon Health, Gympass, HealthVerity, Sword, Kindbody, Osmind, Cake, August, Articulate Global, DataRobot, Zipline, ServiceTitan, Figma, Shipbob, Moveworks, dbt Labs, Ably, Shogun, Hypersonix, Forum, Translated, Pietra, Microverse, Mandolin, Toggle, Hammoq, Ghost, RidePanda, Breezeometer; Outdoorsy, Wikr, Spanx, OpenInvest, TextIQ; Didi, Clear Secure, Intepp, LegalZoom, SentinelOne, EverCommerce, Allbirds
Final numbers on Big Tech Market Value and S&P 500 Pullbacks During Year 3 of Bull Markets at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Smart, a Nashville, Tenn.-based retirement tech company, raised $228 million in Series D funding led by Chrysalis Investments. http://axios.link/Y1dg
- ClearScore, a British credit marketplace, raised $200 million from Invus Opportunities at a $700 million valuation. http://axios.link/lUYe
- Bolttech, a New York-based insurance matching platform, raised $180 million in Series A funding. Activant Capital led, and was joined by Tony Fadell, Alpha Leonis Partners, Dowling Capital Partners, B. Riley VC and Tarsadia Investments.http://axios.link/79ec
- Tomo, a Stamford, Conn.-based mortgage and home-purchasing platform, has raised $70 million in seed funding. Ribbit Capital led the round and was joined by investors including DST Global, NFX, and Zigg Capital.
- Orum, a New York-based provider of frictionless financial infrastructure, raised $56 million in Series B funding. Accel and Canapi Ventures co-led, and were joined by Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, Primary, Clocktower and BoxGroup. http://axios.link/xrIC
- Side, a San Francisco-based real estate tech startup for agents and independent brokerages, raised over $50 million, valuing it at $2.5 billion. Tiger Global Management led the round and was joined by investors including ICONIQ Capital and D1 Capital Partners.
- Karat Financial, a Seattle-based maker of credit cards aimed at creators, raised $26 million in Series A funding. Union Square Ventures led the round and was joined by investors including GGV Capital and SignalFire.
- Codat, a London-based maker of software for small businesses to share business and financial data, raised $40 million in Series B funding. Tiger Global led the round and was joined by investors including Index Ventures and PayPal Ventures.
- Bowery Valuation, a New York City-based commercial real estate appraisal startup, raised $35 million in Series B funding. The Growth Equity business within Goldman Sachs Asset Management led the round and were joined by investors including Capital One Ventures, Builders VC, Fika Ventures, Navitas Capital, Camber Creek, Nine Four Ventures, Greenspring Associates, and Alpaca VC.
- Entera, a New York-based platform for single-family property investors, raised $32 million in Series A funding. Goldman Sachs led, and was joined by insiders Bullpen Capital, Craft Ventures and Valuestream Ventures.www.entera.ai
- Kikoff, a San Francisco-based credit building startup, raised $30 million in Series B funding. Portage Venture led the round.
- Pathpoint, a San Francisco-based insurance-focused startup, raised $30 million in Series A funding. Caffeinated Capital led the round and was joined by investors including SciFi VC, Founders Fund, and Chubb.
- Slice, an Indian fintech startup focused on millennials, raised $20 million. Investors included Gunosy and Blume Ventures.
- Harness Wealth, a New York City-based fintech startup focused on tech investors, employees, and founders, raised $15 million in Series A funding. Jackson Square Ventures led the round and was joined by investors including Bain Capital, Torch Capital, Activant, GingerBread Capital, FJ Labs, i2BF Ventures, First Minute Capital, Liquid2 Ventures and Alleycorp.
- Nansen, a blockchain analytics startup, raised $12 million in Series A funding. Andreessen Horowitz led the round and was joined by investors including Coinbase Ventures, Skyfall Ventures, imToken Ventures, Mechanism Capital, and QCP Capital.
- Xclaim, a Los Angeles-based bankruptcy claims platform, raised $6.6 million in new seed funding. General Catalyst led, and was joined by First Round Capital, Freestyle VC, Innovation Ventures, Luge Capital, Quiet Capital and Tribe Capital. http://axios.link/3IKK
- Daylight, a West Hollywood, Calif.-based neobank for the LGBT+ community, raised $5 million in seed funding. Kapor Capital and Precursor Capital co-led the round and was joined by investors including Anthemis Group, Clocktower, Financial Venture Studio, and Citibank.
. . .
Care:
- CMR Surgical, a Cambridge, Mass.-based surgical robotics business, raised $600 million in Series D funding. SoftBank Vision Fund 2 and Ally Bridge Group led the round.
- Olive, a Columbus, Ohio-based developer of health care services bots, raised $400 million at a $4 billion valuation. Vista Equity Partners and Base10 Partners co-led, and were joined by Tiger Global. http://axios.link/2jrX
- Carbon Health Technologies, a San Francisco-based provider of healthcare services, is in talks to raise $300 million in funding at a $3 billion valuation, per Bloomberg. Investors could include Blackstone Group and Capital Group.
- Gympass, a New York-based corporate well-being platform, raised $220 million at a $2.2 billion valuation from SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek Ventures and Valor Capital Group.www.gympass.com
- HealthVerity, a Philadelphia-based healthcare tech company, raised $100 million in Series D funding. Durable Capital Partners led the round and was joined by investors including Flare Capital Partners, Foresite Capital, and Greycroft.
- FightCamp, a connected boxing and kickboxing platform, raised $90 million co-led by NEA and Connect Ventures. http://axios.link/ip73
- SWORD Health, a New York City-based musculoskeletal care telehealth company, raised $85 million in Series C funding. General Catalyst led the round and was joined by investors including BOND, Highmark Ventures, BPEA, Khosla Ventures, Founders Fund, Transformation Capital, and Green Innovations.
- Kindbody, a New York City-based fertility company, raised $62 million in Series C funding. Theresa Sexton, managing partner of Claritas Health Ventures, led the round and was joined by investors including Bramalea Partners, Monashee Investment Management,Eldridge, GV, Perceptive Advisors, RRE Ventures, and Rock Springs Capital.
- Novocardia, a New York City-based cardiovascular care delivery platform, raised $53.7 million in Series A funding. Deerfield Management Company led the round.
- Vori Health, a San Francisco-based provider of musculoskeletal care, raised an additional $5 million or so in Series A funding from Intermountain Healthcare, Ascension Ventures, and Echo Health Ventures, bringing the total round size to over $50 million.
- Tendo System, a Philadelphia-based healthcare software maker, raised $50 million in Series B funding. Lux Capital led the round and was joined by investors including General Catalyst.
- Babson Diagnostics, an Austin-based company focused on diagnostic blood testing, raised $31 million in Series B funding. Emerald Development Managers led the round and was joined by investors including Siemens Healthineers, Prism Ventures, and Lago Consulting Group.
- Wellthy, a New York City-based site for finding healthcare, raised $35 million in Series B funding. Rethink Impact led the round and was joined by investors including Hearst, Polaris Partners, and Eldridge.
- Hospital IQ, a Newton, Mass.-based provider of hospital operations and communications software, raised $25 million in Series C funding. Baxter Ventures and Health Velocity Capital led the round and were joined by investors including Pierpoint Capital and Allscripts.
- Osmind, a Mountain View, Calif.-based developer of a mental health platform, raised $15 million in Series A funding. Future Ventures led the round and was joined by investors including General Catalyst and Tiger Global.
- Gliknik, a Baltimore, Md.-based immunology company, raised $11.5 million in Series C funding. First In Ventures led the round and was joined by investors including SAISO Partners, RDA Ventures, and Garden Street Holdings.
- Dutch, a San Francisco-based pet telehealth company, raised $5 million in seed funding. Forerunner Ventures led the round and was joined by investors including Bling Capital and Trust Ventures.
- Cake, a Los Angeles-based female wellness company selling sexual products, raised $4 million in seed funding. Lerer Hippeau led the round and was joined by investors including Sugar Capital, Brand Foundry Ventures, Selva Ventures, and Silas Capital.
- August, a maker of menstruation products, raised roughly $2 million in seed funding. Hannah Grey VC led the round and was joined by investors including Bullish, k50 Ventures, and xFactor Ventures.
. . .
Future of Work:
- Articulate Global, a provider of online training tools and e-learning authoring app, raised $1.5 billion in Series A funding. General Atlantic led the round and was joined by investors including Blackstone Growth and ICONIQ Growth.
- Age of Learning, a Los Angeles-based maker of learning apps, raised $300 million. TPG led the round and was joined by investors including Qatar Investment Authority, and Madrone Capital Partners.
- DataRobot, a Boston-based enterprise AI company, raised around $250 million in new funding co-led by insiders Altimeter Capital Management and Tiger Global at around a $6 billion pre-money valuation, per Axios. http://axios.link/sGCn
- Zipline, a San Francisco-based drone delivery company, raised $250 million in funding valuing it at $2.8 billion. Investors included Fidelity, Intercorp, Emerging Capital Partners,Reinvent Capital, Baillie Gifford, Temasek, and Katalyst Ventures.
- ServiceTitan, a Los Angeles-based provider of software for trade businesses, raised $200 million in Series G funding. Thoma Bravo led the round valuing it at $9.5 billion. It also agreed to acquire Aspire Software, a St. Louis, Mo.-based provider of software to landscaping businesses.
- Figma, a San Francisco-based collaborative software maker, raised $200 million in Series E funding valuing it at $10 billion. Durable Capital Partners led the round and was joined by investors including Counterpoint Global (Morgan Stanley), Index, Greylock, Kleiner Perkins, Sequoia, and a16z.
- ShipBob, a Chicago-based logistics fulfillment startup, raised $200 million in funding, making it a unicorn. Bain Capital Ventures led the round and was joined by investors including SoftBank, Menlo Ventures, Hyde Park Venture Partners, Hyde Park Angels, and Silicon Valley Bank.
- Moveworks, a Mountain View, Calif.-based maker of an automated conversation bot, raised $200 million in Series C funding valuing it at $2.1 billion. Tiger Global and Alkeon Capital led the round and were joined by investors including Lightspeed Venture Partners, Sapphire Ventures, Bain Capital, ICONIQ Growth, and Kleiner Perkins.
- dbt Labs, a Philadelphia-based startup previously known as Fishtown Analytics, raised $150 million in Series C funding. Altimeter, Sequoia Capital and Andreessen Horowitz led the round and were joined by investors including Amplify Partners.
- Paper, a Canadian educational software provider, raised $100 million in Series C funding. IVP led the round and was joined by investors including Framework Venture Partners, Bullpen Capital, Reach Capital, Birchmere Ventures, Salesforce Ventures, BDC Capital, and ETW.
- VRChat, a San Francisco-based social virtual reality platform, raised $80 million in Series D funding. Anthos Capital led the round and was joined by investors including Makers Fund, and GFR Fund.
- XSOLIS, a Nashville-based A.I. software platform for health systems and payers, raised $75 million from Brighton Capital Park.
- Ably, a London-based digital experience synchronization startup, raised $70 million in Series B funding. Insight Partners and Dawn Capital co-led, and were joined by insiders Triple Point, Digital Horizon, Forward Partners and MMC. www.ably.com
-Noname Security, a Palo Alto-based enterprise API security startup, raised $60 million in Series B funding. Insight Partners led, and was joined by Next47, Forgepoint, The Syndicate Group and insiders Cyberstarts and Lightspeed Venture Partners. www.nonamesecurity.com
- Shogun, a Palo Alto, Calif.-based e-commerce platform, raised $67.5 million in Series C funding. Insight Partners led the round and was joined by investors including Initialized Capital, Accel, and VMG Partners.
- Tapcart, a Santa Monica, Calif.-based way for Shopify-based brands to launch mobile apps, raised $50 million in Series B funding. Left Lane Capital led the round and was joined by investors including Shopify, SignalFire, Greycroft, Act One Ventures, and Amplify LA.
- Hypersonix, a San Jose, Calif.-based enterprise A.I. provider, raised $35 million in Series B funding. B Capital Group led the round and was joined by investors including Intel Capital, Firebolt, Happiness, and Gokul Rajaram.
- Zencity, a Tel Aviv-based community insights and analytics provider for state and local governments, raised $30 million from TLV Partners, Vertex Ventures Israel, Salesforce Ventures, M12, and Canaan Partners Israel.
- Forum, a New York City-based buyer of Amazon-focused sellers, raised $27 million. Norwest Venture Partners led the round and was joined by investors including NFX and Concrete Rose Capital.
- Trainual, a Scottsdale, Ariz.-based SaaS platform, raised $27 million in Series B funding. Altos Ventures led the round.
- Translated, a San Francisco- and Rome-based company using tech in translations, raised $25 million from Ardian.
- Local Kitchen, a San Francisco-based company takeout and delivery brand, raised $25 million in Series A funding. General Catalyst led the round and were joined by investors including Human Capital, Pear VC, Fifth Wall, and Penny Jar Capital.
- Juno Journey, an Israel-based maker of career training courses, raised $19 million in Series A funding. Insight Partners led the round and was joined by investors including VC Cerca and 10D Ventures.
- Nowports, a Mexico-based automated digital freight forwarder, raised $16 million in Series A funding. Mouro Capital led, and was joined by Foundation Capital, Broadhaven Ventures, InvestoVC, Monashees, Base10 Partners and YC.http://axios.link/nrIU
- FloLive, a London-based maker of a way to create private 5G networks, raised $15.5 million. Intel Capital led the round.
- Edge Delta, a Seattle-based distributed monitoring stack, raised $15 million in Series A funding. Menlo Ventures and former Splunk CTO Tim Tully co-led, and were joined by insiders MaC VC and Amity Ventures. http://axios.link/rGiG
- Pietra, a diamond-hocking startup turned creator economy company, raised $15 million in Series A funding. Founders Fund led the round and was joined by investors including Andreessen Horowitz, TQ Ventures, and Abstract Ventures.
- Sevco Security, an Austin-based cybersecurity company, raised $15 million in Series A funding. SYN Ventures led the round.
- Microverse, a San Francisco-based maker of software development courses, raised $12.5 million in Series A funding. Northzone led the round and was joined by investors including General Catalyst and All Iron Ventures.
- Mandolin, an Indianapolis-based concert livestreaming platform, raised $12 million in Series A funding. 645 Ventures and Foundry Group co-led, and were joined by insiders High Alpha and TIME Ventures. http://axios.link/7gpS
- Nodes & Links, a London-based provider of engineering tools, raised $11 million in Series A funding. 2150 led the round and was joined by investors including Zigg Capital and Westerly
- Tenovos, a New York City-based marketing tech startup, raised $8 million in Series A1 funding. Progress Ventures led the round and was joined by investors including Bertelsmann Digital Media Investments, Revel Partners, and Dublin Capital.
- Toggle, a New York City-based construction robotics company, raised $8 million in Series A funding. Tribeca Venture Partners led the round and was joined by investors including Blackhorn Ventures, Point72 Ventures, New York State, and Twenty Seven Ventures.
- Tribe, a Toronto-based platform for enterprise businesses, raised $7.5 million in seed funding. Bessemer Venture Partners led the round.
- Pratexo, an Austin-based edge computing and cloud platform, raised $3.5 million in seed funding. BCP Blitz LP, Raiven Capital, and Northscaler invested.
- Hammoq, a Phoenix-based eCommerce operating system for resellers, raised $3 million. Origin Ventures led the round and was joined by investors including Sierra Ventures, SaaS Ventures, and Silicon Road Ventures.
- Givingli, a Los Angeles-based gifting app, raised $3 million in seed funding. Seven Seven Six led the round and was joined by investors including Snap’s Yellow Accelerator and Pipe Co-CEO Harry Hurst.
- Life360, a San Francisco-based maker of software for tracking family members, raised $2.1 million. Bryant Stibel led the round and was joined by investors including Vanessa Bryant, Joanna and Chip Gaines, Tony Hawk, Chris and Jada Paul, TikTok influencer Billy Perry, and Nicole and Michael Phelps.
- Arrows, a Los Angeles-based customer onboarding software provider, has raised $2.75 million in seed funding. Gradient Ventures led the round.
- Prelude, a San Francisco-based maker of hiring software, raised $1.2 million in seed funding. Fuel Capital, Jack Altman, Sam Altman, and Elad Gil invested.
. . .
Sustainability:
- Ghost, a Mountain View, Calif.-based autonomous driving company, raised $100 million in Series D funding. Sutter Hill Ventures and Founders Fund led the round and were joined by investors including Coatue.
- BreezoMeter, an Israel-based air quality data provider, raised $30 million in Series C funding. Fortissimo Capital led the round and was joined by investors including Entrée Capital, JumpSpeed Ventures, Launchpad Digital Health, AxessVentures, and Eurazeo.
- Ridepanda, a San Francisco-based electric micromobility dealer, raised $3.75 million co-led by Porsche Ventures, Yamaha Motor Ventures and Proeza Ventures. http://axios.link/qtHh
Acquisitions & PE:
- Moore Strategic Ventures led the $120 million debt-and-equity investment in Outdoorsy, an Austin-based marketplace for recreational vehicle rentals.
- Blackstone agreed to invest in Simpli.fi, a Fort Worth, Tx.-based maker of programmatic advertising and agency management software. The deal values the company at $1.5 billion.
- Warburg Pincus invested in Exeter Finance, an Irving, Tx.-based auto finance company, from funds managed by Blackstone. Financial terms weren't disclosed.
- Investors including Carlyle are considering acquiring Spanx, the maker of shapewear, in a deal that could value it at $1 billion, per The New York Times’ DealBook.
- Amazon (Nasdaq: AMZN) agreed to buy Wickr, a New York-based encrypted messaging platform that had raised over $50 million from firms like CME Ventures, Alsop Louie Partners, Breyer Capital and SingTel Innov8. http://axios.link/AR6h
-Etsy (Nasdaq: ETSY) agreed to buy Elo7, a Brazilian marketplace for handmade items, for $217 million in cash. Sellers include Startupi, Insight Partners and Accel. www.elo7.com.br
-FAT Brands (Nasdaq: FAT), owner of restaurant concepts like Johnny Rockets and Fatburger, will pay $442.5 million to buy Global Franchise Group, operator of quick-serve concepts Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery and Pretzelmaker. Sellers are Serruya Private Equity and Lion Capital. www.fatbrands.com
- Discord, the gaming chat app valued by VCs at $10 billion, acquired Ubiquity6, a San Francisco-based AR startup that had raised over $37 million from firms like Benchmark, First Round Capital, Gradient Ventures and Kleiner Perkins.http://axios.link/KEN9
-JPMorgan Chase (NYSE: JPM) agreed to buy OpenInvest, a San Francisco-based ESG investment platform, per CNBC. OpenInvest had raised around $25 million from firms like Andreessen Horowitz, Abstract Ventures and QED Investors. http://axios.link/wvag
- Relativity, a portfolio company of Silver Lake and Iconiq, acquired Text IQ, a New York-based provider of legal and compliance software that had raised $15 million from firms like Intel Capital, Sierra Ventures and FirstMark Capital. www.textiq.com
. . .
IPOs:
- Didi Global, a Chinese ride-hailing company, raised about $4.4 billion at $14 per share, according to a Wall Street Journal report. Softbank and Uber back the firm.
- ClearSecure, the New York-based biometric identity company known for its airport security lines, raised $409 million in its IPO. It priced at $31 (above $27-$30 range) and will list on the NYSE (YOU). Shareholders include T. Rowe Price, General Atlantic, Delta Air Lines and Durable Capital Partners. http://axios.link/MAlf
- CVRx, a Minneapolis-based developer of neuromodulation therapies for cardiovascular diseases, raised $126 million in an upsized IPO, pricing at $18. It will list on the Nasdaq (CVRX) and raised over $430 million from firms like J&J (31.8% pre-IPO stake), NEA (17%), Gilde Healthcare (12.7%), Vensana Capital (11.9%), GSK (6%) and Treo Ventures (5.8%). http://axios.link/T3Lw
-Intapp, a Palo Alto-based provider of business management software for professional services firms, raised $273 million in its IPO. It priced within range at $26, for a $1.53 billion market cap, and will list on the Nasdaq (INTA). Backers include Temasek and Great Hill Partners. http://axios.link/l5M7
-Integral Ad Sciences, a digital ad measurement firm owned by Vista Equity Partners, raised $270 million in its IPO. It priced at $18 (above $15-$17 range), for a market cap of $2.68 billion. http://axios.link/vJqg
-LegalZoom.com, a Glendale, Calif.-based provider of online legal solutions, raised $535 million in its IPO. It priced at $28 (above $24-$27 range), for a $5.8 billion fully diluted value, and will list on the Nasdaq (LZ). Shareholders include Francisco Partners, IVP, Kleiner Perkins, TCV and Bryant Stibel. http://axios.link/yQJC
-SentinelOne, a Mountain View, Calif.-based autonomous cybersecurity platform, raised $1.2 billion in an upsized IPO. It has a market cap of $8.87 billion, will list on the NYSE (S) and had raised over $260 million in VC funding, most recently at a $3.1 billion valuation, from firms like Insight Partners (15.8% pre-IPO stake), Tiger Global (12.4%), Third Point Ventures (11.3%), Redpoint Ventures (8%), DCVC (5.2%) and Anchorage Capital (5%). http://axios.link/OC7M
-Xometry, a Gaithersburg, Md.-based online marketplace for custom-manufactured parts, raised $303 million in its IPO. It priced at $44 (above $38-$42 range) for a fully diluted value of $2 billion, and will list on the Nasdaq (XMTR). The company raised around $200 million in VC funding from firms like Highland Capital Partners, T. Rowe Price, Foundry Group, BMW iVentures,Greenspring Associates and Durable Capital Partners. http://axios.link/t6QW
- KrispyKreme, the donut chain owned by JAB Holding and BDT Capital Partners, raised $500 million in its IPO at a $2.7 billion market cap. It priced 29.4 million shares at $17, versus plans to sell 26.7 million at $21-$24, and will list on the Nasdaq (DNUT). http://axios.link/JmOl
- EverCommerce, a Denver-based service commerce platform, raised $325 million in its IPO after pricing in the middle of its $16-$18 range. It will list on the Nasdaq (EVCM) and reports a $60 million net loss on $338 million in revenue for 2020. Shareholders include Providence Equity Partners (50.6% pre-IPO stake) and Silver Lake (37.1%). http://axios.link/NtwV
- Allbirds, a maker of wool shoes, filed confidentially for an IPO, per Bloomberg. It is seeking to go public as soon as September.
- CS Disco, an Austin-based legal software company, plans to raise up to $100 million in an initial public offering. Bessemer Venture Partners and the Stephens Group back the firm.
. . .
SPACs:
- Chamath Palihapitiya’s four biotech SPACs raised a total of $880 million.
- Bowlero, a New York-based bowling center operator and owner of the Professional Bowlers Association, agreed to go public at a $2.6 billion implied value via Isos Acquisition Corp., a SPAC led by former World Wrestling Entertainment co-presidents Michelle Wilson and George Barrios. http://axios.link/sGuJ
Funds:
- Accel, a Palo Alto, Calif.-based venture investor, raised three funds totalling about $3.1 billion. It raised $650 million for its 15th early-stage fund, $650 million for an early-stage European and Israeli fund, and $1.8 billion for a growth stage fund.
- BMW i Ventures, the New York City-based venture arm of BMW Group, has a new $300 million fund.
Final Numbers
Source: YCharts
Reproduced from FactSet; Chart: Axios VisualsGo deeper: Sam Ro, the new author of our daily Axios Markets newsletter, writes that a giant market selloff would be entirely normal.