Sourcery (8/15-8/19)
Dragons ~ AtoB, Super, Agora, Tessera, Incredible Health, KeyCare, CareHarmony, Flossy, Dr.B, Love, DriveNets, Guesty, HiBob, VidMob, Mudflap, Solsten, GrayMatter Robotics, Omni, Sync Computing...
Yikes
I generally wrote off Game of Thrones “GOT” a couple years ago because watching a series for me is hard to accomplish, I usually get distracted and move on. Also, pretty much everyone told me I looked like Arya Stark, and I couldn’t escape that one. But I get it, Maisie, Molly, same thing. Any who, it made for a fun summer trip to Dubrovnik last summer visiting the GOT filming locations with an alter-ego.
This week I dove back in to embrace the 10M+ viewer cultural zeitgeist with The House of The Dragon. I’d say it was pretty much summed up by the phrase “gut-wrenching” (adjective; extremely unpleasant or upsetting). Not for the weak-stomached. Lots of deep breaths. I probably won’t continue, but to each their own. Not even sure how I can tie this one to startups and VC, but if you have ideas, please let me know.
To bring it back to tech & deals…
I did a review of Sourcery’s stats and wrangled up some of the best editions so far:
Most likes (tied for first place):
Met Gala vs Web3 Companies (5/3/2022)
RIP to some of those companies…
The Comeback of Diligence and Data Rooms (6/28/2022)
Still holding VERY strong
Most opens:
Coachella Edition: Startup Lessons Learned; Stages as Investors (4/19/2022)
Did you make it on the bus in time for Swedish House Mafia? Will Tiger make it back to the Main Stage for next year? Sheesh, Softbank.
Fan Favorite:
Kentucky Derby: Asymmetric Winners in Tech (5/10/2022)
Will Adam Neumann be the Rich Strike of 2022?
Most New Subscribers:
Sourcery turns 1! Thank you to everyone who reads/shares/comments :) (10/12/2021)
Year 2 is coming up quickly in two months!
. . .
Last Week (8/15-8/19):
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 AtoB, Super, Agora, Tessera, Incredible Health, KeyCare, CareHarmony, Flossy, Dr.B, Love, DriveNets, Guesty, HiBob, VidMob, Mudflap, Solsten, GrayMatter Robotics, Omni, Sync Computing, Explo, Skipper, Demoleap, Sphere, Venue, Aceiss, Insomnia Labs, Roleshare, Bevi, SVX, Bearing, Serenity EHS; SumTotal, DoodleLearning, Current, Lockstep
Final numbers on Allegations in SEC Crypto Litigations at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- AtoB, a San Francisco-based payments platform for the trucking industry, raised $75 million in Series B funding. Elad Gil and General Catalyst led the round and were joined by investors including Collaborative Fund, Contrary Capital, XYZ Venture Capital, and Leadout Capital.
- Super, a London-based payments platform, raised £22.5 million ($26.5 million) in funding. Accel led the round and was joined by investors including Union Square Ventures, LocalGlobe, and other angels.
- Agora, a New York and Tel Aviv-based SaaS company for real estate firms, raised $20 million in Series A funding. Insight Partners led the round and was joined by Aleph.
- Tessera, formerly Fractional, a New York-based NFT trading platform, raised $20 million in Series A funding. Paradigm led the round and was joined by investors including Focus Labs, Uniswap Labs Ventures, E Girl Capital, Yunt Capital, and other angels.
- dWallet Labs, a Tel Aviv-based blockchain cybersecurity company, raised $5 million in pre-seed funding. Node Capital and Digital Currency Group co-led the round and were joined by investors including Amplify Partners, Lightshift Capital, Liquid2 Ventures, Collider Ventures, Lemnsicap, Heroic Ventures, Impatient Ventures, and others
. . .
Care:
- Incredible Health, a San Francisco-based career marketplace for health care workers, raised $80 million in Series B funding. Base10 Partners led the round and was joined by investors including Andreessen Horowitz, Obvious Ventures, and others.
- KeyCare, a Chicago and Madison, Wis.-based virtual care platform, raised $24 million in Series A funding. 8VC, LRVHealth, Bold Capital, and Spectrum Health Ventures invested in the round.
- Materna Medical, a Mountain View, Calif.-based OBGYN platform, raised $20 million in Series B funding. InnovaHealth Partners led the round and was joined by investors including Wavemaker 360 Health and Kimera.
- BRAVO SIERRA, a New York-based male personal care company, raised $17 million in Series B funding. The Merchant Club led the round and was joined by investors including Capstar Ventures, Redo Ventures, AF Ventures, and Mousse Partners.
- CareHarmony, a Brentwood, Tenn.-based care coordination solutions provider, raised $15 million in a Series A funding. Maverick Ventures led the round and was joined by Nashville Capital Network.
- Flossy, a Los Angeles-based dental care company, raised $14.7 million in Series A funding. TTV Capital led the round and was joined by investors including Slow Ventures, 8VC, Clocktower Technology Ventures, SV Angel, and other angels.
- Dr.B, a New York-based telehealth company, raised $8 million in seed funding. Lerer Hippeau, Founders Fund, and others invested in the round.
- Love, a Miami-based pharmaceutical group, raised $7.5 million in seed funding from Human Capital and MaC Venture Capital.
- Trial Library, a San Francisco-based oncology clinical trials company, raised $5 million in seed funding. Lux Capital partner Deena Shakir led the round and was joined by investors including NEXT VENTŪRES managing partner Julian Eison, Unseen Capital, and other angels.
. . .
Enterprise & Consumer:
- DriveNets, a Ra’anana, Israel-based cloud-native networking solutions provider, raised $262 million in Series C funding. D2 Investments led the round and was joined by investors including Bessemer Venture Partners, Pitango, D1 Capital, Atreides Management, and Harel Insurance Investments & Financial Services.
- Guesty, a Tel Aviv-based property management platform, raised $170 million in Series E funding. Apax Digital, MSD Partners, and Sixth Street Growth led the round and were joined by investors including Viola Growth and Flashpoint.
- HiBob, a New York and Tel Aviv-based HR platform, raised $150 million in Series D funding. General Atlantic led the round and was joined by Bessemer Venture Partners and others.
- VidMob, a New York-based advertising platform for brands, raised $110 million in Series D funding led by Shamrock Capital.
- Mudflap, a Palo Alto-based fuel discount app for truck drivers, raised $50 million in Series B funding. QED and 9Yards Capital led the round and were joined by investors including Commerce Ventures and others.
- Gorgias, a San Francisco-based e-commerce customer service platform, raised $30 million in Series C funding. Transpose Platform, Shopify, SaaStr’s Jason Lemkin, Sapphire Ventures’ Rajeev Dham, CRV, and Alven invested in the round.
- Modulate, a Boston-based voice chat safety company, raised $30 million in Series A funding. Lakestar led the round and was joined by investors including Everblue Management, Hyperplane Ventures, and Crush Ventures the venture arm of Crush Music who manages Miley Cyrus, Green Day, and Sia, among others (pretty cool).
- HyperTrack, a San Francisco-based logistics app builder, raised $25 million in Series A funding co-led by WestBridge Capital and Nexus Venture Partners.
- Solsten, a Minneapolis-based customer engagement platform, raised $21.8 million in Series B funding. Konvoy led the round and was joined by investors including Inventure, GFR Fund, Sisu Game Ventures, Bascom Ventures, Galaxy Interactive, Dentsu Ventures, and Warburg Serres.
- GrayMatter Robotics, a Gardena, Calif.-based robotics company, raised $20 million in Series A funding. Bow Capital led the round and was joined by investors including B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, 3M Ventures, and Swift Ventures.
- Vividly, a San Francisco-based trade promotion management solution, raised $18 million in Series A funding. 645 Ventures and Vertex Ventures US led the round and were joined by investors including Costanoa Partners, Torch Capital, and Green Spoon Sales.
- Omni, a remote-based business intelligence platform, raised $17.5 million in Series A funding. Redpoint led the round and was joined by investors including First Round and GV.
- Sync Computing, a Cambridge, Mass.-based cloud infrastructure optimization company, raised $15.5 million in Series A funding. Costanoa Ventures led the round and was joined by investors including The Engine, Moore Strategic Ventures, and National Grid Partners.
- Northbeam, a San Francisco-based marketing measurement platform for DTC and e-commerce brands, raised $15 million in Series A funding led by Silversmith Capital Partners.
- Mobot, a New York-based mobile experience robotics company, raised $12.5 million in Series A funding. Cota Capital, Heavybit, Uncorrelated Ventures, and others invested in the round.
- Explo, a New York and San Francisco-based customer-facing analytics company, raised $12 million in Series A funding. Craft Ventures’ Lainy Painter led the round and was joined by investors including Felicis Ventures, Amplo VC, and other angels.
- Sofy, a Seattle-based mobile app testing platform for software developers, raised $7.75 million in seed funding. Voyager Capital led the round and was joined by investors including PSL Ventures, GTMFund, Revolution, and others.
- Chamberlain Coffee, a Los Angeles-based coffee brand, raised $7 million in Series A funding. Blazar Capital led the round and was joined by investors including Ole & Steen / Lagkagehuset founders Ole Kristoffersen and Steen Skallebaek, Grin founder Brandon Brown, Nik Sharma, and Ken Sadowsky.
- Byte Kitchen, a San Mateo, Calif.-based restaurant scaling company, raised $6 million in funding. Crosslink Capital, Emergent Ventures, and Lookout co-founder and CTO Kevin Mahaffey led the round and were joined by investors including Correlation Ventures, Wndrco, Soma Capital, and Y Combinator, and other angels.
- Skipper, a remote-based hotel booking platform, raised $5.8 million in seed funding. Gradient Ventures led the round and was joined by investors including Pear.VC, Wayfinder, Uncommon Capital, ERA, and other angels.
- Demoleap, a Tel Aviv-based live demo assistant and sales discovery platform, raised $4.4 million in seed funding. Bonfire Ventures and Differential Ventures co-led the round and were joined by investors including 25madison, Ground up, and others angels.
- GitPOAP, a Boston-based contributor recognition platform, raised $4.28 Million in seed funding. Inflection.xyz and Libertus Capital co-led the round and were joined by investors including Avalanche VC, Protocol Labs, POAP, and other angels.
- Sphere, a San Francisco-based online machine learning and data science training company, raised $4.3 million in seed funding. Felicis led the round and was joined by other angels.
- Regression Games, a Philadelphia-based A.I. gaming and e-sports company, raised $4.2 million in seed funding. New Enterprise Associates led the round and was joined by investors including a16z, BBQ Capital, Roosh Ventures, and other angels.
- Venue, a remote-based video-conferencing company that turns meetings into interactive livestreams, raised $4 million in seed funding. Accel led the round and was joined by other angels.
- Microverse, a San Francisco-based online school for remote software developers, raised $4 million in Series A extension funding. Northzone, General Catalyst, All Iron Ventures, True Equity, and other angels invested in the round.
- Defendify, a Portland, Maine-based cybersecurity platform, raised $3.35 million in funding. Maine Venture Fund led the round and was joined by investors including 3dot6 Ventures, York IE, Maine Technology Institute, FreshTracks Capital, Wasabi Ventures, Coastal Ventures, and Opus Ventures.
- Aceiss, a New Canaan, Conn.-based access observability platform, raised $3.25 million in seed funding. Canaan led and was joined by investors including Insight Partners and Connecticut Innovations.
- Quaddro, a São Paulo-based management solutions platform for small businesses and entrepreneurs, raised $3.2 million in seed funding. Valor Capital Group fund led the round and was joined by investors including Grão, Bridge Latam, NXTP and other angels.
- Insomnia Labs, a New York-based Web3 advertising and technology company, raised $1.5 million in funding. Polygon, Animoca Brands, Eden Ventures, HBJ Investments, and Concept Art House invested in the round.
- Roleshare, a London-based job sharing platform, raised $1.2 million in seed funding. Plug and Play VC led the round and was joined by investors including Forward VC, Rethink Capital Partners, Techstars VC, and other angels.
. . .
Sustainability:
- Bevi, a Boston-based smart water cooler developer and provider, raised $70 million in Series D funding from Cowen Sustainable Investments.
- SVX, a Sunnyvale, Calif.-based sustainable energy technology company, raised $7.83 million in Series A funding. Ultratech Capital Partners, Catalus Ventures, Amplify Capital, Golden Seeds, How Women Invest, Smart World Innovation Fund, and One World Impact invested in the round.
- Bearing, a Palo Alto-based green shipping software company, raised $7 million in post-seed funding from Mitsui & Co. and AI Fund.
- Serenity EHS, a San Diego-based environmental, health, safety, and sustainability software company, raised $5 million in seed funding led by Base10 Partners.
- Happy Viking, a New York-based plant-based nutrition brand, raised $2 million in funding. Venus Williams, Serena Williams, 35V, Peloton vice president of fitness programming Robin Arzón, professional golfer Michelle Wie West, soccer athlete Megan Rapinoe, tennis athlete Reilly Opelka, and basketball athletes Isaiah Hartenstein and Collin Sexton invested in the round.
Acquisitions & PE:
- Cornerstone OnDemand, backed by Clearlake Capital Group, acquired SumTotal, a Gainesville, Fla.-based learning and human capital management SaaS solutions provider. Financial terms were not disclosed.
- Discovery Education, backed by Clearlake Capital Group, acquired DoodleLearning, a Bath, U.K.-based math and english learning platform. Financial terms were not disclosed.
- Authentic Brands Group agreed to acquire Ted Baker, a London-based fashion company, for $254 million.
- Pattern acquired Current, a Lehi, Utah-based influencer marketing platform. Financial terms were not disclosed.
- Sage agreed to acquire Lockstep, a Seattle-based accounting automation platform for workflows between companies. Financial terms were not disclosed.
- Nerdy acquired Codeverse, a Chicago-based coding platform. Financial terms were not disclosed.
. . .
IPOs:
Nothing to see here…
. . .
SPACs:
Nothing to see here…
Funds:
- CoinFund, a New York-based Web3 and crypto investment firm, raised $300 million for their first fund focused on founders across blockchain sub-sectors.
Final Numbers
Data: Cornerstone Research; Chart: Nicki Camberg/Axios
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.
lol congrats. Great publication. Keep up the great work.