Sourcery (6/7-6/11)
NuBank, Klarna, Blockfi, Ledger, Solana Labs, Capchase, Branch, Blooma, Kafene, Trellis, LetsGetChecked, Cerebral, Fresha, Poised, Relativity, Faire, Verbit, Amplitude, Whatfix, Airbase, Charthop...
Last Week (6/7-6/11):
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 NuBank, Klarna, Blockfi, Ledger, Solana Labs, Capchase, Branch, Blooma, Kafene, Trellis, Certifical, Monogram Health, LetsGetChecked, Cerebral, Fresha, Transcarent, Rae, Poised, Relativity, Faire, Verbit, Amplitude, Whatfix, Waabi, Airbase, Charthop, Overhaul, Prefect, Poka, Dispo, Loupe, Vault, Compose.ai, Simulate, OneConcern, Circular; Ecwid, NuORDER, Iora Health; 1stdibs, Monday.com, Marqeta, Legalzoom, Clear; Dave, Aurora, NextNav
Final numbers on SPAC Performance and CPI at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Nubank, a Brazilian challenger bank, raised $750 million in new Series G funding (total round is $1.15b) at a $30 billion valuation led by Berkshire Hathaway. http://axios.link/jEM2
- Klarna, a Swedish online payment platform and Europe’s most valuable unicorn, raised $639 million in new funding at a $45.6 billion post-money valuation (up from $31b). SoftBank Vision Fund 2 led, and was joined by Adit Ventures, Honeycomb Asset Management and WestCap Group.http://axios.link/LKNC
- BlockFi, a Jersey City, N.J.-based crypto-lending platform, is in talks to raise $500 million in Series E funding co-led by Third Point Management and Hedosophia, per The Information. Earlier this year it raised $350 million at a $3 billion valuation co-led by Bain Capital Ventures, partners of DST Global, Pomp Investments and Tiger Global. http://axios.link/UWCV
- Ledger, a Paris-based gateway for digital assets, raised $380 million in Series C funding at a valuation north of $1.5 billion. 10T Holdings led, and was joined by Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache, iAngels Technologies and insiders Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital and Wicklow Capital. http://axios.link/sfoc
- Solana Labs, a decentralized finance startup, raised $314 million via a token sale. Andreessen Horowitz led, and was joined by Polychain Capital. http://axios.link/r3fU
- AllyAlign Health, a Richmond, Va.-based insurance company focused on residents of senior housing communities, raised close to $300 million. New Enterprise Associates led the round and was joined by investors including Oak HC/FT, Town Hall Ventures, Heritage Group, and Ziegler.
- Capchase, a New York City-based provider of lending based on revenue, raised $125 million in debt and equity Series A funding. QED Investors led the round and was joined by investors including Bling Capital, ScifiVC and Caffeinated Capital.
- Embroker, a San Francisco-based insurance platform, raised $100 million in Series C funding. FTV Capital led the round and was joined by investors including HSCM Bermuda, Gaingels, Tola Capital, Canaan Partners, Bee Partners, and MassMutual Ventures.
- Credit Sesame, a Mountain View, Calif.-based online personal finance startup, raised $51 million. Investors included Healthcare of Ontario Pension Plan, Menlo Ventures, and ATW Partners. It values the company at nearly $1 billion.
- Branch Insurance, a Columbus, Oh.-based home and auto insurance bundling startup, raised $50 million in Series B funding. Anthemis Group led the round and was joined by investors including Acrew, Cherry Creek Holdings, Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital, and Tower IV.
- Briq, a Santa Barbara, Calif.-based maker of tech for finance professionals in the construction industry, raised $30 million in Series B funding. Tiger Global Management led the round.
- Pennylane, a French fintech company, raised $18 million. Sequoia Capital led the round.
- Stoke, a Palo Alto, Calif.-based freelancer management software maker, raised $15.5 million in Series A funding. Battery Ventures led the round and was joined by investors including TLV Partners, Dynamic and Loop.
- Blooma, a San Diego, Calif.-based underwriting platform for commercial real estate, raised $15 million in Series A funding. Canapi Ventures led the round and was joined by investors including Nyca Partners.
- Clair, a New York City-based on-demand pay solution, raised $15 million. Thrive Capital led the round.
- Kafene, a New York City-based buy-now-pay-later startup focused on consumers with subprime credit scores, raised $14 million in Series A funding. Global Founders Capital and Third Prime Ventures co-led the round and were joined by investors including Valar, Company.co, Hermann Capital, Gaingels, Republic Labs, Uncorrelated Ventures and FJ labs.
- Trellis, a San Francisco-based car and home insure-tech startup, raised $10 million in Series A funding. QED Investors led, and was joined by NYCA Partners and General Catalyst. www.trellisconnect.com
- Now, an Atlanta-based company for immediate invoice payments, raised $9.5 million. Virgo Investment Group led the round and was joined by investors including Cresset Capital Partners.
- Hummingbot, a Mountain View, Calif.-based crypto trading software provider, raised $8 million in Series A funding. Initialized Capital led the round and was joined by investors including Slow Ventures, Arrington XRP Capital, Borderless Capital, Ava Labs, and AscendEX.
- Certifical, a Jersey City, N.J.-based provider of certificate of insurance and compliance management software, raised $5.8 million in Series a funding. IA Capital led, and was joined by Nationwide, Cofounders Capital, Fin VC and Cameron Ventures. www.certifical.com
- Odie Pet Insurance, a New York City-based pet insurance startup, raised $3 million. Kevin Colleran and Slow Ventures led the round and were joined by investors including Walkabout Ventures.
. . .
Care:
- Monogram Health, a Nashville-based benefit management and care delivery company focused on chronic kidney and end-stage renal disease, raised $160 million in Series B funding. TPG Capital led the round and was joined by investors including Frist Cressey Ventures, Humana and Norwest Venture Partners..
- LetsGetChecked, a New York-based at-home medical testing company, raised $150 million in Series D funding. Casdin Capital led, and was joined by CommonFund Capital, Illumina Ventures, Optum Ventures, Transformation Capital, HLM Venture Partners, Qiming Venture Partners USA and Rory McIlroy.http://axios.link/4aOq
- Cerebral, a San Francisco, Calif.-based psychiatric and behavioral therapy services company, raised $127 million in Series B funding. Access Industries led the round and was joined by investors including WestCap, Silver Lake Waterman, Artis Ventures, Bill Ackman, Oak HC/FT, Chris Burch, and AirAngels.
- Synthekine, a Menlo Park, Calif.-based engineered cytokine therapeutics company, raised $107.5 million in Series B funding. Deerfield Management and Janus Henderson Investors led the round and was joined by investors including RA Capital Management, Rock Springs Capital, Omega Funds, TCG X, Lilly Asia Ventures, The Column Group, Samsara BioCapital, Canaan Partners, and Emerson Collective.
- Fresha, a beauty and wellness software platform, raised $100 million in Series C funding. General Atlantic led the round and was joined by investors including Huda Kattan of HB Investments and the founder of Huda Beauty, as well as Michael Zeisser of FMZ Ventures, and Jonathan Green of Lugard Road Capital.
- Transcarent, a San Francisco-based “health experience” company, raised $58 million in Series B funding. General Catalyst and 7wireVentures co-led, and were joined by Merck Global Health Innovation Fund, Kleiner Perkins, Leaps by Bayer, GreatPoint Ventures, Threshold Ventures and insiders Alta Partners and Jove Equity Partners. www.transcarent.ai
- Strateos, a Menlo Park, Calif.-based remote access laboratories and lab control software maker, raised $56.1 million in Series B funding. DCVC and Lux Capital led the round and was joined by investors including Eli Lilly and Company, Ally Bridge Group, Black Diamond Ventures, Mack & Co., and Castor Ventures.
- TailorMed Medical, a New York City-based provider of tech to estimate healthcare costs, raised $20 million. Providence Ventures led the round.
- Medallion, a San Francisco-based healthcare infrastructure startup, raised $20 million in Series A funding. Spark Capital led the round.
- Hawthorne Effect, a San Francisco-based platform for decentralizing clinical trials, raised $20 million in Series A funding. Northpond Ventures led the round and was joined by investors including SignalFire and P5 Health Ventures.
- Rae Wellness, a Minneapolis-based developer of women’s health supplements, raised $9.5 million in Series A funding. PowerPlant Ventures led, and was joined by M13, Able Partners and Victress Capital.http://axios.link/Ips3
- DUOS, a New York-based digital health company with a personal assistant for aging, raised $6 million from investors including Redesign Health and Forerunner Ventures.
- Poised, a San Francisco-based speaking coach company using A.I., raised $4.5 million in seed funding. Wing Venture Capital led the round and was joined by investors including Next Play Ventures, Slack Fund, Hyphen Capital, and Concrete Rose Capital.
- Poppy Seed Health, a New York-based telehealth app mental health for pregnant and postpartum people, raised $1.6 million in a pre-seed funding. Seven Seven Six led the round and was joined by investors including Metrodora, Christina Sass, Julia Cheek, Hannah Bronfman, Roxane Gay, Toyin Ajayi, and Halle Tecco.
. . .
Future of Work:
- Relativity Space, a Long Beach, Calif.-based company that focuses on 3D printing rockets, raised $650 million in Series E funding. Fidelity Management & Research Company led the round and was joined by investors including Baillie Gifford, BlackRock, Centricus, Coatue, K5 Global, Soroban Capital, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff’s 75 & Sunny.
- Getir, a Turkey-based grocery delivery app maker, raised $555 million in Series D funding at a $7.5 billion valuation, confirming earlier reports it was raising funding. Investors included Silver Lake, DisruptAD, Mubadala, Tiger Global, and Sequoia Capital.
- Trulioo, a Vancouver-based identity verification company, raised $394 million in Series D funding, valuing it at $1.8 billion. TCV led the round and was joined by investors including Amex Ventures, Citi Ventures, Blumberg Capital, and Mouro Capital.
- Faire, a San Francisco-based online wholesale marketplace, raised $260 million in Series F funding. Sequoia Capital led the round valuing it at $7 billion.
- Flink, a Berlin-based grocery delivery business, raised $240 million in funding. Prosus, BOND and Mubadala Capital co-led the round.
- Verbit, a New York City-based transcription and captioning platform, raised $157 million in Series D funding, valuing it at over $1 billion. Sapphire Ventures led the round and was joined by investors including Third Point, More Capital, Omer Cygler, Azura,ICON fund,Stripes, Vertex Ventures, HV Capital, Oryzn Capital, Viola Ventures, and ClalTech.
- Amplitude, a San Francisco-based data analytics startup, raised $150 million valuing it at $4 billion. Sequoia Capital led the round and was joined by investors including GIC, Battery Ventures, and IVP.
- Flyhomes, a Seattle-based maker of tech for home buying, raised $150 million in Series C funding. Norwest Venture Partners and Battery Ventures led the round and was joined by investors including Balyasny Asset Management, Fifth Wall, Trustbridge Partners, Camber Creek, Zillow co-founder Spencer Rascoff, Andreessen Horowitz, and Canvas Ventures.
- Aura, a Burlington, Mass.-based cybersecurity company, raised $150 million in Series E funding. Warburg Pincus led the round.
- Stackline, a Seattle-based maker of subscription-based ecommerce tools, raised $130 million from TA Associates.
- Whatfix, a San Jose-based employee onboarding solution, raised $90 million in Series D funding. SoftBank Vision Fund 2 led the round and was joined by investors including Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments.
- Waabi, a Toronto-based maker of self-driving technology, raised $83.5 million in Series A funding. Khosla Ventures led the round and was joined by investors including Uber, Radical Ventures, 8VC, OMERS Ventures, BDC Capital’s Women in Technology Venture Fund, Aurora Innovation, Geoffrey Hinton, Fei-Fei Li, Pieter Abbeel, and Sanja Fidler.
- Zenoti, a Bellevue, Wash.-based cloud platform for the beauty, wellness, and fitness industries, raised $80 million as an extension to its Series D funding round. TPG led the round valuing the company at $1.5 billion.
- Airbase, a San Francisco-based spend-management platform for small to midsize companies, raised $60 million in Series B funding at a $600 million valuation. Menlo Ventures led the round and was joined by investors including Craft Ventures.
- Kepler Communications, a Toronto-based company building an orbit satellite communications network, raised $60 million in Series B funding. Tribe Capital led the round and was joined by Canaan Partners, IA Ventures, and Costanoa Ventures.
- Morning Consult, a Washington D.C.-based data analysis and polling company, raised $60 million in Series B funding valuing it at $1 billion. Advance Venture Partners led the round and was joined by investors including Susquehanna Growth Equity and Lupa Systems.
- Pattern Brands, a New York City-based home products seller acquiring direct-to-consumer businesses, raised $60 million. Investors included Kleiner Perkins, RRE Ventures, Primary Venture Partners, Victory Park Capital, HOF Capital and RSE Ventures.
- Contentstack, a San Francisco-based content management platform, raised $57.5 million in Series B funding. Insight Partners led the round and was joined by investors including Illuminate Ventures, GingerBread Capital, and Georgian.
- Grabango, a Berkeley, Calif.-based checkout-free tech provider, raised $39 million in Series B funding. Commerce Ventures led, and was joined by Founders Fund, Unilever Ventures, Honeywell Ventures and WIND Ventures.www.grabango.com
- MaintainX, a San Francisco-based maker of software for industrial and frontline workers, raised $39 million in Series B funding. Bessemer Venture Partners led the round and was joined by investors including Amity Ventures, Vulcan Capital, August Capital, Ridge Ventures, and OldSlip Group.
- ChartHop, a New York City-based people analytics company, raised $35 million in Series B funding. Andreessen Horowitz led the round and was joined by investors including Elad Gil, Cowboy Ventures, and SemperVirens.
- Overhaul, an Austin, Texas-based supply chain visibility and security solution, raised $35 million in Series B funding. Macquarie Capital led, and was joined by Edison Partners and Avanta Ventures. www.over-haul.com
- Prefect Technologies, a Washington D.C.-based dataflow automation company, raised $32 million in Series B funding. Tiger Global led the round and was joined by investors including Bessemer Venture Partners and Positive Sum.
- Komodor, a Tel Aviv-based troubleshooting platform dedicated to Kubernetes, raised $21 million in Series A funding. Accel led the round and was joined by investors including Jason Warner (CTO of GitHub), Sri Viswanath (CTO of Atlassian), Danny Grander (Co-Founder of Snyk), and others.
- Aunt Bertha, an Austin-based marketplace for social services, raised $27 million in funding. Warburg Pincus led the round and was joined by investors including Pershing Square Foundation, Techstars Ventures, Noro-Moseley Partners, Digitalis Ventures and The Social Entrepreneurs’ Fund.
- Poka, a Canada-based worker platform for manufacturers, raised $25 million in Series B funding. 40 North Ventures led and was joined by investors including McRock Capital, SE Ventures, CDPQ, Robert Bosch Venture Capital, and Leclerc.
- Dispo, the disposable camera app maker, raised $20 million in Series A funding, per a source with knowledge of the matter. The Series A round comes following controversy around its founder, YouTuber David Dobrik. Investors included Annie Leibovitz and Kevin Durant.
- Loupe, a live e-commerce streaming platform for sports card collectors, raised $12 million in Series A funding. Forerunner Ventures led, and was joined by Nat Turner, Mint 10 and DJ Skee.www.loupetheapp.com
- Vault Platform, a London-based platform for misconduct reporting, raised $8.2 million in Series A funding. Gradient Ventures led the round and was joined by investors including Illuminate Financial, Kindred Capital, and Angular Ventures.
- Extracker, a San Francisco-based construction project management startup, raised $5.3 million in Series A funding led by Jackson Square Ventures. http://axios.link/Q0KF
- Copeland, a San Francisco-based provider of online learning for trades and the construction industry, raised $5 million in seed funding. Collaborative Fund and Defy.vc led the round and were joined by investors including Harrison Metal.
- YourBase, a Redmond, Wash.-based provider of developer productivity solutions, raised $5 million in seed funding. Lightspeed Venture Partners led the round and was joined by investors including Unusual Ventures and Fathom Capital.
- Aserto, a Seattle-based authorization software maker, raised $5.1 million in seed funding. Costanoa Ventures led the round and was joined by investors including Heavybit Industries, Bob Muglia (former CEO of Snowflake), Mathias Biilmann Christensen (co-founder/CEO of Netlify); and Tom Preston-Werner (co-founder of GitHub).
- ShelfLife, a Toronto-based maker of a marketplace for raw material suppliers, raised $3 million in seed funding. Switch Ventures and Kindred Ventures led the round and was joined by investors including NextView Ventures, Ben Zises (SuperAngel.vc), Ilia Papas (former CTO of Blue Apron) and Elena Donio (former president of SAP Concur).
- Compose.ai, a San Francisco-based maker of a predictive text plug-in, raised $2.1 million in seed funding. Craft Ventures led the round.
- Nomad Data, a New York City-based company for finding data, raised $1.6 million in seed funding. Bloomberg Beta led the round and was joined by Alumni Ventures, Great Oaks Ventures, Correlation Ventures, and DataFrame Ventures.
. . .
Sustainability:
- SIMULATE, a New York City-based maker of plant-based chicken nuggets, raised $50 million in Series B funding. SEVEN SEVEN SIX led the round and was joined by investors including Chris and Crystal Sacca, NOMO Ventures, McCain Foods, Imaginary Ventures, and Day One Ventures.
- One Concern, a Menlo Park, Calif.-based maker of a platform to model responses to natural disasters, raised $45 million from Sompo Holdings.
- Circulor, a London-based supply chain traceability and CO2 tracking company, raised $14 million in Series A funding. The Westly Group led the round and was joined by investors including Salesforce Ventures, BHP Ventures, Future Positive Capital, 24Haymarket, and Sky Ocean Ventures.
Acquisitions & PE:
- Lightspeed (NYSE: LSPD) agreed to acquire Ecwid, an Encinitas, Calif.-based e-commerce platform, for an estimated $500 million. It also agreed to acquire NuORDER, a Los Angeles-based marketplace for businesses and suppliers, for about $425 million. Ecwid is backed by investors including MorganStanley Expansion Capital and PeakSpan Capital. NuORDER is backed by Brighton Park Capital and the Argentum Group.
- 1Life Healthcare agreed to acquire Iora Health, a Boston-based primary health provider, in an all-stock transaction valued at about $2.1 billion. Iora has been backed by investors including F-Prime Capital.
- Honeywell International (Nasdaq: HON) will spin off its quantum computing business and merge it with Cambridge Quantum Computing, a London-based firm in the space. Honeywell will own 54% of the business and will invest up to $300 million in the company.
- Amazon and Gopuff sought to acquire Flink, a German delivery startup, per Bloomberg. Flink rebuffed the attempts.
- Selfridges, a British department store group, has been put up for sale by the Weston family, per the FT. It could fetch around £4 billion. http://axios.link/IfUNr
. . .
IPOs:
- 1stdibs, a New York-based online marketplace for luxury items like art, furniture and jewelry, raised $115 million in its IPO. It priced at $20 (within range) for a $794 million fully diluted valuation, and will list on the Nasdaq (DIBS). It had raised over $250 million from firms like T. Rowe Price, Groupe Artemis, Foxhaven Asset Management, Sofina Group and Allen & Co. www.1stdibs.com
- Acumen Pharma, a Charlottesville, Va.-based biotech focused on Alzheimer's disease, filed for an IPO. The Phase 1 company plans to list on the Nasdaq (ABOS) and raised over $110 million from RA Capital (23.3% pre-IPO stake), PBM Group (16%), Sands Capital (11%) and Knollwood Investment Fund (7.5%). http://axios.link/d3LQ
- Monday.com, an Israel-based provider of workplace collaboration tools, raised $574 million in its IPO. The company priced at $155 per share ($125-$140 range) for a $6.78 billion market cap. It will list on the Nasdaq (MNDY) and had raised $234 million from firms like Insight Partners, Stripes and Entrée Capital. http://axios.link/qhwQ
-ZetaGlobal, a New York-based SaaS marketing automation platform, raised $215 million in its IPO. The company priced at the low end of its $10-$12 range, for a $1.9 billion fully diluted valuation, and will list on the NYSE (ZETA). Zeta reports a $53 million net loss on $368 million in revenue for 2020 and raised around $400 million from firms like FS Investments, GPI Capital, GCP Capital Partners, Iris Capital, JMI Equity, Sierra Ventures and Staley Capital. http://axios.link/zhj7
- Marqeta, an Oakland, Calif.-based card and payment processing company, raised $1.2 billion. It sold 45.5 million shares priced at $27 apiece, well above its previously stated range.
- Intapp, a Palo Alto, Calif.-based provider of tech to financial services companies, filed to raise $100 million. Temasek and Great Hill Equity Partners back the firm.
- LegalZoom.com, a Glendale, Calif,.-based provider of tech for creating legal documents, filed to raise $100 million. Investors including Francisco Partners back the firm.
- WalkMe, a Tel Aviv-based A.I.-based customer engagement and business insight platform, now plans to raise $282 million in an offering of 9.3 million shares priced between $29 to $32 apiece. Insight Partners and Greenspring Associates back the firm.
- Convey Holding Parent, a Ft. Lauderdale, Fla.-based provider of tech for government-sponsored plans, filed to raise $200 million in an offering of 13.3 million shares (13% insider sold) priced between $14 to $16. TPG backs the firm.
- Clear Secure, a New York-based biometric identity verification tech maker, filed to raise $100 million in an initial public offering. Investors include T. Rowe Price and General Atlantic.
. . .
SPACs:
- Dave, a Los Angeles-based banking app, will go public via merger with VPC Impact Acquisition Holdings III, a SPAC sponsored by Victory Park Capital, in a deal valuing it at $4 billion.
- HomeToGo, a Berlin-based travel rental search site, will go public in Frankfurt via merger with Lakestar SPAC I.
- BigBear.ai, a Columbia, Maryland-based provider of data analytics, will go public via merger with GigCapital4, a SPAC. The deal values BigBear at around $1.6 billion.
- Aurora, a Mountain View, Calif.-based autonomous driving startup, is close to a deal to merge with Reinvent Technology Partners Y, per TechCrunch. A deal could value the company at $12 billion.
- NextNav, a Sunnyvale, Calif.-based developer of a non-GPS indoor positioning system, agreed to go public at an implied $1.2 billion equity value via Spartacus Acquisition Corp. (Nasdaq: TMTS). It had raised over $160 million from firms like Columbia Capital, Future Fund, Telcom Ventures, Goldman Sachs, NEA, Oak Investment Partners and Fortress Investment Group. http://axios.link/xMIK
Funds:
- Foundation Capital, a Palo Alto-based VC firm, is raising $500 million for its tenth fund, per an SEC filing. www.foundationcapital.com
-Susa Ventures is targeting $125 million for its fourth seed-stage fund and $250 million for its second opportunities fund, per SEC filings. www.susaventures.com
-Trucks VC, a transportation-focused venture firm, raised $52 million for its second early-stage fund and an undisclosed amount for its first growth fund. www.trucks.vc
- Seven Seven Six, the VC firm led by Alexis Ohanian, raised $150 million for its debut fund. http://axios.link/5P5m
Recommended read: Sequoia Capital is mulling fund structure changes to sidestep Biden's proposed capital gains tax hike, per Bloomberg.
Final Numbers: SPAC performance
Source: IPOx SPAC Index, tracking aftermarket performance of U.S. SPACs.
Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals