Sourcery (7/6-7/9)
Lula, Wagmo, Zerion, Coast, Glossier, Thrive Global, Xilis, Otter, Ephemeral, Maude, Entrata, ManoMano, Outbrain, Mmhmm, Instawork, Alto, Unit21, Popshop Live, Repeat, Mighty, Talkshoplive, Rootly...
Last Week (7/6-7/9):
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 Lula, Wagmo, Zerion, Coast, Glossier, Thrive Global, Xilis, Otter, Ephemeral, Maude, Entrata, ManoMano, Outbrain, Mmhmm, Instawork, Silk, Alto, Unit21, Popshop Live, Repeat, Mighty, Talkshoplive, Rootly, Aleph Farms, Twelve, Clovely; Greenspring Associates, Watchkeeper; Noom, Stripe, Blend Labs, F45 Training, Authentic Brands, Chobani; Circle, Planet Labs, Equinox
Final numbers on US IPO Market at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Pleo, a Danish maker of company cards and expense management software, raised $150 million in Series C funding valuing it at $1.7 billion. Bain Capital Ventures and Thrive Capital led the round and was joined by investors including Creandum, Kinnevik, Founders, Stripes, and Seedcamp.
- Juni, a Sweden-based neobank for e-commerce companies, raised $21.5 million in Series A funding. DST Global and Felix Capital co-led, and were joined by Cherry Ventures. http://axios.link/shdL
- Lula, a Miami-based insurance tech company, raised $18 million in Series A funding. Founders Fund and Khosla Ventures co-led the round, and werewas joined by investors including SoftBank, Bill Ackman, Shrug Capital, Steve Pagliuca (Bain Capital co-chairman and Boston Celtics owner), and Tiny Capital’s Andrew Wilkinson.
- Wagmo, a pet insurance startup, raised $12.5 million in Series A funding. Revolution Ventures led the round and was joined by investors including Female Founders Fund, Clocktower Technology Ventures, and Vestigo Ventures.
- Canopy, a Lehi, Ut.-based cloud-based maker of software for accounting professionals, raised $11 million in funding. Ankona Capital, NewView Capital, Pelion Venture Partners, and Tenaya Capital invested.
- Blockpit, a developer of audited tax reports for crypto assets, raised $10 million in Series A funding led by MiddleGame Ventures. www.blockpit.io
-AREX Markets, an Irish invoice trading platform, raised €8.8 million in Series A funding. Mosaic Ventures led, and was joined by LocalGlobe and Lifeline Ventures. www.arex.io
- Toqio, a London-based white-label fintech, raised €8 million ($9.5 million) in seed funding. Seaya Ventures, Speedinvest, and SIX FinTech Ventures invested.
- Zerion, San Francisco-based decentralized investing finance startup, raised $8.2 million in Series A funding. Mosaic Ventures led the round and was joined by investors including Placeholder, DCG, Lightspeed, and Blockchain.com Ventures.
- Coast, a financial platform for transportation, raised $6 million in seed funding. Better Tomorrow Ventures led, and was joined by Avid Ventures, Bessemer Venture Partners, BoxGroup, Colle, Foundation Capital, Greycroft and SciFi VC.http://axios.link/u8qK
. . .
Care:
- Glossier, a New York City-based beauty products company, raised $80 million in Series E funding. Lone Pine Capital led the round and was joined by investors including Forerunner Ventures, Index Ventures, IVP, Sequoia Capital, and Thrive Capital. The deal values the company at $1.8 billion, per a source with knowledge of the matter.
- Thrive Global, a wellness startup founded by Arianna Huffington, raised $80 million in Series C funding. Kleiner Perkins and Owl Ventures led the round.
- Xilis, a Durham, N.C.-based cancer therapy company, raised $70 million in Series A funding. Mubadala Capital led the round and was joined by investors including GV, LSP, Catalio Capital Management, and Duke Angel Network.
- Linus Health, a Boston-based provider of early Alzheimer's screening and monitoring solutions, raised $55 million led by Morningside Ventures. http://axios.link/gtnT
- Osso VR, a San Francisco-based surgery-training focused virtual reality startup, raised $27 million in Series B funding. GSR Ventures led the round and was joined by investors including SignalFire, Kaiser Permanente Ventures, and Anorak Ventures.
- Otter, a New York City-based marketplace for parents to find childcare, $23 million in Series A funding. Sequoia Capital led the round.
- Ephemeral, a Brooklyn, New York-based maker of tattoos that fade within 9-15 months, raised $20 million in Series A funding. Investors included Anthos Capital, Primary Venture Partners, Canaan Partners, Techstars Ventures, Gaingels, Lauren Maillian, and The Syndicate Angels.
- Assured Allies, a Wellesley, Mass.-based longevity assurance platform, raised $18.3 million in Series A funding. Core Innovation Capital and New Era Capital Partners co-led, and were joined by Wilton Re, LionBird Ventures and Harel Insurance. www.AssuredAllies.com
- Maude, a New York City-based sexual wellness brand, raised $5.8 million in Series A funding. True Beauty Ventures led the round and was joined by investors including Fable Investments, and WME.
. . .
Future of Work:
- Entrata, a Lehi, Ut.-based multifamily property tech provider, raised $507 million. Silver Lake, Qualtrics Founder Ryan Smith, and Vivint Smart Home Founder Todd Pedersen, led the round and were joined by investors including Dragoneer, Domo Founder and CEO Josh James.
- ManoMano, a French startup focused on home improvement products, raised $355 million in Series F funding. Dragoneer Investment Group. led the round and was joined by investors including Temasek, General Atlantic, Eurazeo, Bpifrance’s Large Venture fund, Aglaé Ventures, Kismet Holdings, and Armat Group.
- AnyVision, an Israeli startup with an A.I.-based vision platform, raised $235 million in Series C funding. SoftBank’s Vision Fund 2 and Eldridge Industries led the round.
- Clearco, a San Francisco-based e-commerce financing company, raised $215 million. SoftBank Vision Fund 2 led the round.
- Outbrain, a New York City-based ad recommendation company, raised $200 million in funding from The Baupost Group.
- Mmhmm, a presentation creation startup led by Evernote founder Phil Libin, raised $100 million in Series B funding. SoftBank Vision Fund 2 led, and was joined by Sequoia Capital, Mubadala Capital, Human Capital and World Innovation Lab.http://axios.link/XiSo
- Coda Project, a doc sharing startup, raised $100 million at a $1.4 billion valuation. Ontario Teachers’ Pension Plan Board led the round.
- Skedulo, a San Francisco-based productivity software company, raised $75 million in Series C funding. SoftBank Vision Fund 2 led the round.
- Teamwork, an Irish project management SaaS, raised $70 million from Bregal Sagemount in its first round of outside funding. www.teamwork.com
- Deep Instinct, the New York City-based cybersecurity startup, raised $68 million from Chrysalis Investments.
- Instawork, a San Francisco-based job marketplace, raised $60 million in Series C funding. Craft Ventures led, and was joined by Greylock and Benchmark. www.instawork.com
- Silk, a Needham, Mass-based database company, raised $55 million in Series B funding. S Capital led the round and was joined by investors including Sequoia Capital, Pitango, Globespan, Ibex, and Vintage as well as Clal Insurance, Bank Hapoalim, Meitav Dash and Menora Mivtachim.
- Alto, a Dallas-based ride-hailing startup, raised $45 million in Series B funding. Tuesday Capital and Goff Capital led the round and were joined by investors including Franklin Templeton, Alumni Ventures Group, Senterra, Green Park & Golf Ventures, and Hope Ventures Capital.
-Didomi, a Paris-based consent and preference management platform, raised $40 million in Series B funding co-led by Elephant VC and Breega. www.didomi.io
- Unit21, a San Francisco-based no-code security platform, raised $34 million in Series B funding valued at $300M. Tiger Global led, and was joined by Iconiq Capital insiders Gradient Ventures, A.Capital and South Park Commons.http://axios.link/NHHG
- r2c, a San Francisco-based startup with a security platform, raised $27 million in Series B funding. Felicis led the round.
- Made Renovation, a San Francisco-based bathroom renovation company, raised $23 million in Series A funding. Insight Partners led the round and was joined by investors including Base10 Partners, Founders Fund, and Felicis Ventures.
- Popshop Live, a streaming retail startup, raised $20 million in Series A funding valuing it at $100 million, per TechCrunch. Benchmark led the round.
- LightGuide, a Wixom, Mich.-based AR platform for manual assembly and manufacturing processes, raised $15 million in Series B funding. G2 Venture Partners led, and was joined by Capital Midwest Fund and Michigan Capital Advisors. www.lightguidesys.com
- WellSaid Labs, a Seattle-based maker of synthetic speech, raised $10 million in Series A funding. FUSE led the round and was joined by investors including Voyager, Qualcomm Ventures, and GoodFriends.
- Opaque, a cloud data security startup, raised $9.5 million in seed funding. Intel Capital led, and was joined by Race Capital, The House Fund and FactoryHQ. http://axios.link/VbzR
- LitLingo, an Austin-based A.I. risk monitoring platform focused on communication channels in companies, raised $7.5 million in Series A funding. Breyer Capital led the round and was joined by investors including former IBM CEO Sam Palmisano, LiveOak Venture Partners, Clarke Nobiletti, and James Marsico.
- Repeat, a Los Angeles-based product replenishment service, raised $6 million in Series A funding. Battery Ventures led, and was joined by insiders Mucker Capital and Harlem Capital.http://axios.link/FaPq
- Mighty, a Los Angeles-based Shopify for child entrepreneurs, raised $6.5 million in seed funding. Animo Ventures led, and was joined by Maveron, Humbition, Sesame Workshop, Collaborative Fund and NaHCO3.http://axios.link/a0PS
- Talkshoplive, a Los Angeles-based livestream commerce company, raised $6 million in seed extension funding. Raine Ventures led the round and was joined by investors including Spero Ventures.
- ShippyPro, an Italian shipping management software maker, raised $5 million from Five Elms Capital.
- Arena Innovation, a New York City-based training startup, raised $5.2 million in seed funding. Investors include Courtside Ventures, Powerhouse Capital, and Wellness Holding.
- Arcade, a Dallas-based software provider focused on gamifying revenue, raised $4.5 million. Stage 2 Capital led the round and was joined by investors including Revolution's Rise of the Rest Seed Fund, Our Innovation Fund, and ATX Venture Partners.
- Locad, an Indian provider of cross-border e-commerce logistics software, raised $4.9 million in seed funding. Sequoia Capital India led, and was joined by Antler, Febe Ventures, Foxmont, GFC and Hustle Fund. http://axios.link/B0Km
- Rootly, a maker of a Slack-based incident-response tech, raised $3.2 million in seed funding. XYZ Venture Capital led the round and was joined by investors including 8VC and Y Combinator,
- Hubble, a London-based marketplace for office space, raised £2 million ($2.8 million). Pi Labs led the round and was joined by investors including JLL Spark and Concrete VC.
- Obviously AI, a Berkeley, Calif.-based no code machine-learning platform, raised $1.1 million in extended seed funding. University of Tokyo Edge Capital Partners led the round and was joined by investors including Trail Mix Ventures and B-Capital.
. . .
Sustainability:
- Aleph Farms, an Israel-based cultivated meat company growing steaks directly from non-genetically modified animal cells, raised $105 million in Series B funding. L Catterton led the round and was joined by investors including DisruptAD.
- Twelve, a Berkeley, Calif.-based carbon conversion startup, raised $57 million in Series A funding. Capricorn Technology Impact Fund and Carbon Direct Capital Management led the round and were joined by investors including DCVC, Munich Re Ventures, Microsoft Climate Innovation Fund, Breakout Ventures, and Evok Innovations.
- FabricNano, a London-based developer of cell-free fossil fuel alternatives, raised $12.5 million in Series A funding led by Atomico. http://axios.link/MA7j
- Single.Earth, a carbon credit crypto startup, raised $7.9 million in seed funding led by EQT Ventures. http://axios.link/7aha
- Clovely, an Atlanta-based developer of APIs for companies to measure and offset carbon emissions, raised $2.1 million in seed funding. TechSquare Ventures led, and was joined by SoftBank, Panoramic Ventures, Circadian Ventures, Knoll Ventures and SaaS Ventures. http://axios.link/55Kn
Acquisitions & PE:
- StepStone Group agreed to acquire Greenspring Associates, an Owings Mills, Md.-based venture capital and private equity investor, for $725 million ($185 million in cash and $540 million in equity) plus up to a $75 million potential earnout payable in 2025.
- Hello Sunshine, a media company founded by Reese Witherspoon, is seeking a buyer for up to $1 billion, per WSJ. http://axios.link/TBHO
- Dataminr, a New York-based real-time information discovery platform VCs at $4.1 billion, bought WatchKeeper, a London-based geovisualization platform that had been seeded by MMC Ventures. http://axios.link/FUun
. . .
IPOs:
- Stripe, the San Francisco and Dublin-based digital payments company, has hired a law firm to make preparations for an IPO, according to Reuters.
- BlendLabs, a San Francisco-based digital consumer banking platform, set IPO terms to 20 million shares at $16-$18. It would have a $3.7 billion market value, were it to price in the middle, plans to list on the NYSE (BLND) and reports a $75 million net loss on $96 million in revenue. Blend raised nearly $700 million, most recently at a $3.3 billion valuation, from backers like Lightspeed Venture Partners (13.3% pre-IPO stake), Formation8 (8.4%), Coatue (5.8%), Tiger Global (5.8%), General Atlantic (5.4%) and Greylock (5.2%). http://axios.link/Tqkq
- Noom, a New York-based weight and wellness app, hired Goldman Sachs to lead its IPO, per Reuters. The company recently raised $540 million in a Series F round led by Silver Lake. Others backers include Oak HC/FT, Temasek, Novo Holdings, Sequoia Capital, RRE Ventures and Samsung Ventures. http://axios.link/u3k0
- AuthenticBrands, a consumer lifestyle brands portfolio, filed for an IPO that Renaissance Capital estimates could fetch $1.5 billion. Underlying brands include Eddie Bauer, Aéropostale, Brooks Brothers, Forever21, Juicy Couture, Nine West and Spyder. It also owns licensing rights for Sports Illustrated, Elvis Presley and more. Backers include BlackRock, Leonard Green, General Atlantic, Simon Property Group and Lion Capital.
- F45 Training, an Austin-based fitness franchise, now plans to raise up to $345.3 million in an offering of 20.3 million shares priced between $15 to $17 per share. Mark Wahlberg, the actor, and Kennedy Lewis Investment Management back the firm.
- Nuvalent, a Cambridge, Mass.-based cancer therapy company, filed for an initial public offering. Deerfield Management, Bain Capital Life Sciences and Fidelity Investment’s mutual fund investment advisor, Fidelity Management & Research Company, back the firm.
- Chobani, the Norwich, N.Y.-based Greek yogurt maker, filed confidentially for an IPO that could value the company at more than $10 billion, per Reuters. http://axios.link/6kKy
. . .
SPACs:
- Circle, a cryptocurrency company, agreed to go public via merger with Concord Acquisition, a SPAC. The deal will value it at $4.5 billion.
- Planet Lab, a San Francisco-based satellite imaging company, will go public via merger with dMY Technology Group. The deal values the business at around $2.8 billion.
- Heliogen, a Pasadena, Calif.-based solar power company, will go public via merger with Athena Technology Acquisition, a SPAC valuing it at about $2 billion.
- Equinox, the high-end gym chain and owner of Soulcycle, ended talks to go public at around a $7.5 billion valuation via Chamath Palihapitiya's Social Capital Hedosophia Holdings Corp. VI (Nasdaq: IPOF), per Bloomberg. http://axios.link/NOVI
Funds:
- MAGIC Fund, a San Francisco-based VC firm, raised $30 million for its second fund. http://axios.link/YPLf
- Peter Boyce stepped down as a partner with General Catalyst to launch a VC firm called Stellation Capital, which is raising $40 million for its debut fund. http://axios.link/eDOV
-Renegade Partners, a VC firm co-founded by Renata Quintini and Roseanne Wincek, raised $100 million for its debut fund. http://axios.link/IfIF
Final Numbers
Data: Renaissance Capital; Chart: Will Chase/Axios