Sourcery (7/27-7/31)
Ro, PharmaPacks, Heal, Chorus.ai, Tempo, Remitly, Guideline, Freightwaves, and Density.
Last Week (7/27-7/31):
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 Ro, PharmaPacks, Heal, Chorus.ai, Tempo, Remitly, Guideline, Freightwaves, and Density.
And if you haven’t raised a SPAC yet, get in line.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Care:
- Ro, a New York-based DTC pharmacy focused on men’s health, raised $200 million at a $1.5 billion valuation. General Catalyst led, and was joined by The Chernin Group and return backers FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital, 3L, and BoxGroup. http://axios.link/48HG
- Pharmapacks, an Islandia, N.Y.-based e-commerce marketplace for health and beauty goods, raised financing of up to $150 million from GPI Capital and JPMorgan Chase Bank.
-Sema4, a Stamford, Conn.-based health care intelligence firm, raised $121 million in Series C funding. BlackRock led the round and was joined by investors including Deerfield Management Company, Moore Strategic Ventures, Blackstone, Section 32, Oak HC/FT, Decheng and the Connecticut Innovation Fund.
- Moonbug Entertainment, a London-based children’s educational entertainment company, raised $120 million in funding. Goldman Sachs Growth Equity (GS Growth) and Fertitta Capital led the round, and were joined by investors including The Raine Group and Felix Capital.
-Heal, a Los Angeles-based on-demand physician house calls platform, raised $100 million in Series D funding from Humana.
- Eargo, a San Jose, Calif.-based medical device company for hearing loss, raised $71 million in funding. Gilde Healthcare and Longitude Capital led the round, and were joined by investors including New Enterprise Associates, the Charles and Helen Schwab Foundation, and Nan Fung Life Sciences.
- Tempo, a San Francisco-based at-home weights training fitness company, raised $60 million in Series B funding. Norwest Venture Partners and General Catalyst led the round, and were joined by investors including DCM, Bling Capital, SignalFire, Founders Fund, and Y Combinator.
- Lemonaid Health, a San Francisco-based telemedicine platform, raised $33 million in Series B funding. Olive Tree Ventures led the round, and was joined by investors including Artis Ventures, Correlation Ventures, Hikma Ventures, and Sierra Ventures.
- Dialogue Technologies, a Canada-based telemedicine provider, raised $32.7 million in funding from Sun Life. It was joined by Caisse de dépôt et placement du Québec (CDPQ), Portag3 Ventures, White Star Capital, HV Holtzbrinck Ventures, First Ascent Ventures and Walter Ventures.
- Alydia Health, a Menlo Park, Calif.-based medical device company focused on preventing maternal death, raised $13.9 million in Series C funding. AXA Investment Managers led the round, and was joined by investors including Global Health Investment Fund and Avestria Ventures.
-Siilo, a Netherlands-based collaboration app for healthcare professionals, raised $10.5 million in Series A funding. Heal Capital led the round, and was joined by investors including Philips Health Technology Venture Fund and EQT Ventures.
- Proper, a New York-based sleep wellness company, raised $9.5 million. Casa Verde Capital led the round and was joined by Redesign Health.
- Immertec, a Tampa, Florida-based real-time virtual surgery training company that uses VR, raised $6 million in extended Series A funding from investors including Revolution’s Rise of the Rest Seed Fund, Benvolio Group and PAR. Read more.
- CAPS Medical, an Israel-based medical device company that makes non-thermal plasma devices used to treat cancer, raised $3.5 million in Series A funding. Chasing Value Asset Management and Israel Investment Fund Group (IIFG) led the round, and were joined by investors including Technion Research and Development Foundation and XACT Robotics.
- LOOM, a Los Angeles-based online sexual and reproductive health education platform, raised $3 million in seed funding. Slow Ventures led the round, and was joined by investors including Precursor Ventures, GSV, Moxxie Ventures, General Catalyst,Maveron, and several angel investors. Read more.
- Transformative, a New York-based provider of software that predicts sudden cardiac arrest, raised $1.7 million in seed funding led by Tera Ventures. www.transformative.ai
-Mountain Health Technologies, a Dallas-based healthcare company geared toward millennials, raised $1.5 million in seed funding. Matchstick Ventures led the round, and was joined by NorthwesternMutual Future Fund, Techstars Ventures, Bread and Butter Ventures, and Route 66 Venture.
- Trilogy Mentors, a Richmond, Va.-based online learning management platform for tutors, raised $1.1 million in pre-seed funding. Felton Group led the round, and was joined by investors including CAV Angels.
- TrekIT Health, a Philadelphia-based electronic health records and predictive data provider, raised $1 million in a seed round. Tech Council Ventures led the round, and was joined by Boston Millennia Partners Founders Fund, Front Row Fund, IP Group, DreamIT Health, and Ben Franklin Technology Partners.
. . .
Future of Work:
- Infobip, a London-based cloud communications platform for businesses and customers, raised over $200 million in Series A funding from One Equity Partners, Reuters reports citing sources. The deal valued Infobip at over $1 billion.
- Validity Finance, a New York City-based commercial litigation finance firm, raised $100 million in funding from backers including TowerBrook Capital Partners.
-Guideline, a San Mateo, Calif.-based small businesses 401(k) provider, raised $80 million in Series D funding. Generation and Greyhound Capital led the round, and were joined by investors including Tiger Global Management, Felicis Ventures, Propel Venture Partners, Lerer Hippeau, Xfund and BoxGroup.
-Remitly, a Seattle, Wash.-based mobile provider of financial services and sending money, raised $85 million in funding. Prosus’s PayU led the round and was joined by investors including Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global, and Threshold Ventures.
-Stack Overflow, a New York City-based platform for developers and technologists to develop skills, raised $85 million in Series E funding. GIC led the round and was joined by investors including Silver Lake Waterman, Andreessen Horowitz, Index Ventures, Spark Capital, and Union Square Ventures.
- Revolut, the U.K.-based fintech startup, raised $80 million in extended Series D funding. TSG Consumer Partners was the investor. The Series D, first announced in February, valued the firm at $5.5 billion.
- Density, a San Francisco-based startup that measures indoor headcount, raised $51 million in Series C funding. Kleiner Perkins led, and was joined by 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, DTA, Alex Rodriguez, LBC Ventures, Julia and Kevin Hartz, and Cyan and Scott Banister. http://axios.link/LL1u
- ComplyAdvantage, a London-based financial crime detection startup, raised $50 million in Series C funding. Ontario Teachers’ led, and was joined by return backers Index Ventures and Balderton Capital. http://axios.link/AzoS
-Chorus.ai, a San Francisco-based sales conversations intelligence platform developer, raised $45 million in Series C funding. Georgian Partners led the round, and was joined by Emergence Capital, Redpoint Ventures and Sozo Ventures.
- Thought Machine, a London-based cloud-based banking software firm, raised $42 million in extended Series B funding. Eurazeo Growth led the round and was joined by British Patient Capital and SEB.
- FreightWaves, a Chattanooga, Tenn.-based freight data startup, raised $37 million. Kayne Partners led, and was joined by 8VC, Fontinalis Partners, Revolution Ventures, Hearst Ventures, Prologis Ventures, Story Ventures, and Engage Ventures. http://axios.link/U1V5
- True Link Financial, a San Francisco-based provider of digital financial services targeting retirees, raised $35 million in Series B funding. Khosla Ventures led, and was joined by Centana Growth Partners. http://axios.link/6o9Z
-Explorium, a San Mateo, Calif.-based data science platform developer, raised $31 million in Series B funding. Zeev Ventures led the round, and was joined by 01 Advisors, Dynamic Loop, Emerge and F2 Capital. Read more.
-Instrumental, a Palo Alto-based manufacturing optimization software platform, raised $20 million in Series B financing. Canaan led the round, and was joined by investors including Eclipse Ventures, Root Ventures, Stanford StartX Fund, and First Round Capital. Read more.
-AI Foundation, a San Francisco-based online AI platform, raised $17 million in Series B funding. Mousse Partners led the round, and was joined by investors including Founders Fund, Biz Stone, You & Mr Jones and Alpha Edison.
-Ermetic, a Tel Aviv, Israel-based secure cloud access company, raised $17.3 million in Series A funding. Accel led the round, and was joined by investors including Glilot Capital Partners, Norwest Venture Partners and Target Global.
- cargo.one, a Berlin-based digital booking platform for air cargo, raised $18.6 million in funding. Index Ventures led the round and was joined by investors including Next47 and prior backers Creandum, Lufthansa Cargo and Point Nine Capital.
- OpenSpace, a San Francisco-based construction documentation and analytics startup, raised $15.9 million in Series B funding. Menlo Ventures led the round and was joined by Nine Four Ventures, Taronga Group, Lux Capital, JLL Spark, Navitas Capital, and Zigg Capital.
- RangeForce, a Manassas, Va.-based cloud cybersecurity training company, raised $16 million in Series A funding. Energy Impact Partners led the round, and was joined by Paladin Capital Group, Trind , and Cisco Investments.
- Buildots, a U.K. and Israel-based AI construction management company, raised $16 million in funding. TLV Partners led the round, and was joined by investors including Innogy Ventures, Tidhar Construction Group, and investors Ziv Aviram, Zvika Limon, Benny Schnaider, Avigdor Willenz and Gil Geva.
- Aquicore, a Washington, D.C.-based cloud-based software provider for commercial real estate energy management, raised $14 million in funding. Keyframe Capital led the round, and was joined by investors including A/O Proptech and The Westly Group.
- Cybellum, a Tel Aviv, Israel-based car cybersecurity risk assessment platform, raised $12 million in Series A funding. RSBG Ventures GmbH led the round, and was joined by Blumberg Capital and Target Global.
-Magnetis, a São Paulo, Brazil-based digital investment manager platform, raised $11 million in Series B funding. Redpoint eventures led the round, and was joined by investors including Vostok Emerging Finance.
- MomentFeed, a Santa Monica, Calif.-based provider of location-based mobile customer management software, raised $10 million in funding. Level Equity led the round, and was joined by investors including Signia Venture Partners, Draper Nexus, and DFJ Frontier.
- JetClosing, a Seattle-based mobile title and escrow company for home closing and refinancing, raised $9 million in Series B funding. T. Rowe Price Associates led the round, and was joined by investors including Pioneer Square Labs (PSL) and Trilogy Equity.
- KloudGin, a Sunnyvale, Calif.-based cloud-based field service and asset management provider, raised $8.2 million in Series A funding from Cloud Apps Capital Partners.
-Hevo, a San Francisco-based cloud-based data integration platform, raised $8 million in Series A funding. Qualgro and Lachy Groom, a former Stripe executive, led the round, and were joined by Chiratae Ventures and Sequoia Capital India’s Surge. Read more.
-AstrumU , a Seattle-based company that uses machine learning to put values to educational experiences in the workforce, raised $7.7 million in Series A funding. Kingdom Capital led the round, and was joined by KC Rise Fund and City Light Capital.
-boostr, a New York City-based CRM and order management platform for media companies, raised $7 million in Series A funding. Vocap Partners led the round, and was joined by Bertelsmann Digital Media Investments, Math Capital, and C2 Ventures.
- Tire Agent, a New York-based tire information platform, raised $5 million led by American Family Ventures. http://axios.link/5xX3
-Spyderbat, an Austin-based cybersecurity company, raised $4.2 million in seed funding. LiveOak Venture Partners and Benhamou Global Ventures led the round, and were joined by John McHale. Read more.
- Cambrian Asset Management, a Mill Valley, Calif.-based quantitative investment firm for digital assets, raised $4 million in seed funding. Investors included Howard Morgan (co-founder of Renaissance Technologies and First Round Capital), Tano Capital, Dennis Phelps (General Partner at IVP), and Kevin Ryan (co-founder, MongoDB & Business Insider).
- Swoop, a Los Angeles-based software maker for smaller transportation operators, raised $3.2 million in a seed funding. Signia Venture Partners and South Park Commons led the round. Read more.
- Paragon, a low-code app integration platform, raised $2.5 million in seed funding from YC, Village Global, Global Founders Capital, Soma Capital, and FundersClub. http://axios.link/Be6E
. . .
Sustainability:
- ClimaCell, a Boston-based weather intelligence platform, raised $23 million in Series C funding co-led by Pitango Growth and return backer Square Peg Capital. www.cimacell.com
-Epic CleanTec, a San Francisco-based onsite wastewater treatment and reuse company, raised $2.6 million in seed funding from investors including Elizabeth Cutler and Dr. Kathy Fields.
-New Age Meats, a Berkeley, Calif.-based producer of lab-grown meats, raised $2 million in extended seed funding. TechU Ventures led the round, and was joined by investors including ff Venture Capital, SOSV, Sand Hill Angels, and the Losa Group.
Acquisitions:
- Enova International agreed to acquire OnDeck, a New York City-based online small business lending platform. The deal is valued at approximately $90 million in cash and stock.
- Atlassian acquired Mindville, a Sweden-based platform to help companies track and manage assets. Financial terms were not disclosed.
. . .
IPOs:
- Rackspace Technology, an San Antonio, Texas-based cloud hosting services provider, plans to raise $754 million in an offering of 33.5 million shares priced between $21 to $24. It posted revenue of $2.4 billion in 2019 and a loss of $102.3 million. ApolloManagement and Searchlight Capital back the firm. It plans to list on the Nasdaq as “RXT.” Read more.
- Rush Street Interactive, a gaming technology operator, is in talks to go public through via merger with blank-check company dMY Technology Group, per Bloomberg citing sources. Read more.
- SAP (NYSE: SAP) announced that it will spin out Qualtrics via IPO, less than two years after buying the Utah-based "experience management" company for $8 billion (just days before Qualtrics’ planned IPO). Axios has learned that SAP and Qualtrics began discussing a spinout around three months ago, in part to help give Qualtrics a more attractive currency with which to make acquisitions and retain employees. http://axios.link/6qOb
-Oak Street Health , a Chicago-based provider of primary care for Medicare patients in the Midwest, now plans to raise $250 million by offering 15.6 million shares priced between $15 to $17. It posted revenue of $540 million in 2019 and a loss of $137.2 million. General Atlantic, Newlight, and Humana back the firm. It plans to list on the NYSE as “OSH.” Read more.
-Vital Farms , an Austin, Texas-based pasture-raised eggs producer, now plans to raise $156 million by offering 7.8 million shares priced between $19 and $21 in an IPO. It plans to list on the Nasdaq as “VITL”. Read more.
-BigCommerce, an Austin-based e-commerce software developer, plans to raise $130 million in an IPO by offering 6.9 shares priced between $18 and $20. Investors include General Catalyst and GGV Capital. It is planning to list on the Nasdaq as “BIGC”. Read more.
. . .
SPACs:
- Dragoneer Growth Opportunities, a San Francisco-based blank check company backed by Dragoneer Investment Group, filed for a $600 million IPO. It plans to acquire a business in software, internet, media, consumer or retail, healthcare IT and financial services or fintech sectors. Read more.
- Forum Merger III, a Delray Beach, Fla.-based blank check company and third of its kind led by co-CEOs Marshall Kiev and David Boris, filed for a $250 million IPO. It is targeting investments based in the U.S. with aggregate enterprise values between $500 million and $2 billion, but did not specify a particular industry. It plans to list on the Nasdaq as “FIIIU”. Read more.
- Petra Acquisition, a New York City-based blank check company led by CEO and chairman Andreas Typaldos, filed for a $125 million IPO. It is targeting investments in the cannabis industry. It plans to list on the Nasdaq as “PAICU”. Read more.
- Clever Leaves, a multinational cannabis company based in Colombia, agreed to go public via reverse merge with a SPAC called Schultze Special Purpose Acquisition (Nasdaq: SAMA) at an initial enterprise value of $255 million. www.cleverleaves.com
- FS Development, a health care-focused SPAC formed by venture firm Foresite Capital, filed for a $100 million IPO. http://axios.link/NuuD
-Fortress Value Acquisition II, the second SPAC led by managing partners at SoftBank-controlled Fortress Investment Group, filed for a $300 million IPO. http://axios.link/uJ09
-NavSight Holdings, a national security-focused SPAC led by Robert Coleman (founder and ex-CEO of Integrated Data Systems), filed for a $200 million IPO. http://axios.link/gSbB
-Rush Street Interactive, a Chicago-based online casino and sports betting company, agreed to go public via reverse merger with a SPAC called dMY Technology Group (NYSE: DMYT), at an initial enterprise value of $1.78 billion. http://axios.link/JzCy
- ACE Convergence Acquisition, a tech-focused SPAC led by Behrooz Abdi, raised $200 million in an IPO. http://axios.link/DiFS
-Churchill Capital Corp IV, a new SPAC led by Michael Klein, upped its planned IPO size to $1.5 billion. http://axios.link/8jMU
-Lionheart Acquisition II, a real estate-focused SPAC formed by Lionhart Capital, filed for a $200 million IPO. http://axios.link/hRUJ
-Northern Genesis Acquisition, a SPAC focused on acquiring an environmentally-sustainable business, filed for a $300 million IPO. http://axios.link/ZBdl
- One, a tech-focused SPAC led by Eventbrite co-founder Kevin Hartz and chaired by venture capitalist Pierre Lamond, filed for a $200 million IPO. http://axios.link/OFhN
- INSU Acquisition II, an insurance-focused SPAC formed by Cohen & Co., filed for a $175 million IPO. http://axios.link/AcUD
- E.Merge Technology Acquisition, a tech-focused SPAC led by former Eastman Kodak CEOs, raised $522 million in its IPO. http://axios.link/UJux
Funds:
- Menlo Ventures is seeking to raise $450 million for its 15th fund. Read more.
- Threshold Ventures, formerly known as DFJ, raised $146.6 million so far of a $250 million target for its third fund. Read more.
- Fosun RZ Capital, backed by Fosun Group, raised $186 million for the first close of its debut sci-tech innovation fund. Read more.
- Greycroft is raising up to $300 million for its sixth flagship VC fund, and its first not to list founder Alan Patricof, per an SEC filing. www.greycroft.com
-Notation Capital, a New York-based pre-seed firm, raised $42 million for its third fund. http://axios.link/FeKv
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