Sourcery (9/12-9/16)
Figma Patagonia Kim Ye ~ Sightfull, CANDIS, Composer, Redesign Health, Soda Health, Hopscotch, Healthmatch, Medmo, Xeneta, Zesty, Podimo, Kojo, Regal.io, HopSkipDrive, Dig, Diamond Standard, TigerEye
Someone decided to turn the drama dial way up…
In the News:
On Figma, E96: Adobe acquires Figma for $20B, TPB SPAC, FedEx CEO's recession warning, macro picture & more, All in Pod
0:59 Adobe agrees to acquire Figma for $20B
19:21 How Adobe might bundle Figma, regulatory implications
PS Adobe shares plunge on deal to acquire design platform Figma for $20 billion, CNBC
Q2 Briefing: Cloud Software Earnings Season, Jamin Ball of Clouded Judgement
Billionaire No More: Patagonia Founder Gives Away the Company, NYT
ICYMI, Kim Kardashian Launches Private Equity Firm SKKY, Forbes
Seems like Ye couldn’t give Kim a week to herself in the headlines. Ye announced he is ending his 10-year deal with GAP, & Gap Can’t Afford To Let Kanye West And Yeezy Go, Forbes
Key takeaways from the Twitter whistleblowers appearance before congress yesterday. TechCrunch
Sheesh! Making cuts - Linkedin lays out recent RIFS across the market, from high growth tech, to retailers and banks.
. . .
Last Week (9/12-9/16):
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 Sightfull, CANDIS, Composer, Redesign Health, Soda Health, Hopscotch, Healthmatch, Medmo, Xeneta, Zesty, Podimo, Kojo, Regal.io, HopSkipDrive, Dig, Diamond Standard, TigerEye, Liquid Instruments, NYSHEX, TruckSmarter, Joonko, Goldsky, Kafene, Theom, Isometric, Bechan’s, Chameleon, Opus Security, Bluesky, Thirdwave, Tract, Tidelift, Patch, Odyssey Energy Solutions; Figma
Final numbers on CPI at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Patra, an El Dorado Hills, Calif.-based services company for the insurance industry, raised $146 million in funding from FTV Capital.
- Sightfull, a San Francisco and Tel Aviv-based revenue analysis and optimization platform, raised $18 million in Series A funding. Dell Technologies Capital led the round and was joined by investors including Norwest Venture Partners and Tiger Global.
- CANDIS, a Berlin-based software solutions company for automating accounts payable processes, raised $16 million in funding. Viola FinTech led the round and was joined by investors including Lightspeed and Viola Ventures.
- Composer Technologies, a Toronto, Canada-based automated investing platform, raised an additional $6 million in funding. Left Lane Capital led the round and was joined by investors including First Round Capital, AVG Basecamp, Draft Ventures, and Not Boring Capital.
. . .
Care:
- Redesign Health, a New York-based company that builds and launches health care businesses, raised $65 million in Series C funding. General Catalyst led the round and was joined by investors including CVS Health Ventures, UPMC Enterprises, Eden Global Partners, Euclidean Capital, Samsung Next, TriplePoint Capital, and Declaration Partners.
- Soda Health, a Bentonville, Ark.-based health care tech company, raised $25 million in Series A funding. Lightspeed Venture Partners, Define Ventures, and Qiming Venture Partners USA invested in the round.
- Rootine, a Nashville-based health and nutrition company, raised $10 million in Series A funding. Relevance Ventures led the round and was joined by investors including Techstars and DSM Venturing.
- Hopscotch, a New York-based pediatric behavioral health technology provider, raised $8 million in seed funding. Greycroft and Inspired Capital led the round and were joined by investors including New York Ventures, Remarkable Ventures, Watershed VC, Cold Start, and other angels.
- AOA Dx, a Boston, Mass.-based early detection tool developer for ovarian cancer, raised $7 million in funding co-led by Avestria Ventures, AlleyCorp, The Helm, RH Capital, Olive Tree Capital, Tencent, and others.
- HealthMatch, a Sydney-based patient recruitment platform for clinical trials, raised AU$10 million ($6.88 million) in Series C funding. Folklore Ventures led the round and was joined by investors including Square Peg Capital and others.
- Medmo, a New York based healthtech company, raised $3 million in funding. Medmo, founded by Lucas Takahashi, facilitates patient journeys to make medical imaging more accessible for patients and providers.
. . .
Enterprise & Consumer:
- Xeneta, an Oslo, Norway-based ocean and air freight rate benchmarking and market analytics platform, raised $80 million in funding. Funds advised by Apax Digital led the round and was joined by Lugard Road Capital.
- Zesty, a Tel Aviv, Israel-based cloud infrastructure solutions provider, raised $75 million in Series B funding. B Capital and Sapphire Ventures co-led the round and were joined by investors including Next47 and S-Capital.
- Podimo, a Copenhagen, Denmark-based podcast and audiobooks subscription service, raised €58.6 million ($58.56 million) in funding. 83North, Highland Europe, and Saban Ventures led the round and were joined by investors including Chr. Augustinus Fabrikker, Heartcore, and Headline.
- Kojo, a San Francisco-based materials management platform, raised $39 million in Series C funding. Battery Ventures led the round and was joined by investors including Schneider Electric, RXR, Bienville Capital, 8VC, Suffolk Construction, Human Capital, AME, and BoxGroup.
- Regal.io, a New York-based outbound phone and SMS sales solution, raised $38.5 million in Series A funding. Emergence Capital led the round and was joined by investors including Founder Collective, Homebrew, Flex Capital, Inspired Capital, Operator Collective, and other angels.
- HopSkipDrive, a Los Angeles-based school transportation solutions provider, raised $37 million in Series D funding. Energy Impact Partners, Keyframe Capital, FirstMark Capital, Alumni Ventures, Transform Capital, and others invested in the round.
- Dig, a Tel Aviv, Israel-based cloud data security company, raised $34 million in Series A funding. SignalFire led the round and was joined by investors including Felicis, Okta Ventures, and other angels.
- Diamond Standard, a New York-based diamond commodities company, raised $30 million in funding. Left Lane Capital and Horizon Kinetics led the round and were joined by investors including Gaingels and Republic.co.
- TigerEye, a San Francisco-based sales software company, raised $30 million in Series A funding co-led by Initialized Capital and Next47.
- Liquid Instruments, a Lyneham, Australia and Solana Beach, Calif.-based instrumentation software company, raised $28.5 million in Series B funding. Acorn Capital led the round and was joined by investors including Lockheed Martin Ventures, Powerhouse Ventures, Spirit Super/ANU Connect Ventures, MA Growth Ventures, Significant Capital Ventures, and Boman Enterprises.
- Denim, a remote-based financial enablement platform for the freight and logistics industry, raised $26 million in Series B funding led by Pelion Venture Partners.
- NYSHEX, a New York-based ocean freight contract technology provider, raised $25 million in Series B funding. Collate Capital led the round and was joined by investors including Blumberg Capital, Goldman Sachs, and NewRoad Capital.
- TruckSmarter, a San Francisco-based marketplace for truck drivers, raised $25 million in Series B funding. Thrive Capital led the round and was joined by investors including Founders Fund, a16z, Bain Capital Ventures, and Fin Capital.
- Alcatraz AI, a Cupertino, Calif.-based 3D facial authentication security company, raised $25 million in Series A funding. Almaz Capital led the round and was joined by investors including The European Bank for Reconstruction and Development, Endeavor Catalyst, Silverline Capital, Golden Seeds, JCI Ventures, Ray Stata, and LDV Partners.
- Diveplane, a Raleigh, N.C.-based A.I.-powered business solution for government and business organizations, raised $25 million in Series A funding. Shield Capital led the round and was joined by investors including Calibrate Ventures, L3Harris Technologies, and Sigma Defense.
- Joonko, a New York and Tel Aviv-based automated sourcing platform, raised $25 million in Series B funding. Insight Partners led the round and was joined by investors including Target Global, Kapor Capital, and Vertex Ventures Israel.
- Cledara, a Denver-based software management platform for growing companies, raised $20 million in Series A funding. CommerzVentures and By Miles co-led the round and were joined by investors including Carbide Ventures, Massive, Nauta Capital, and Notion Capital.
- Goldsky, a San Francisco-based data infrastructure platform for crypto teams, raised $20 million in seed funding co-led by Felicis and Dragonfly Capital.
- Kafene, a New York-based digital point-of-sale platform, raised $18 million in Series B funding. Third Prime led the round and was joined by other investors.
- Theom, a San Francisco-based cloud data security platform, raised $16.4 million in seed funding co-led by Ridge Ventures and M12.
- Isometric Technologies, a San Francisco-based collaborative management platform, raised $15 million in Series A funding. Blackhorn Ventures led the round and was joined by investors including Maersk Growth and Mantis VC.
- Bachan’s, a Sebastopol, Calif.-based Japanese sauce brand, raised $13 million in Series A funding. Sonoma Brands Capital led the round and was joined by investors including Prelude Growth Partners, New Fare Partners, RVCA founder and president Pat Tenore, and American filmmaker Destin Daniel Cretton.
- Chameleon, a San Francisco-based product adoption platform for software companies, raised $13 million in Series A funding. Matrix Partners led the round and was joined by investors including True Ventures and other angels.
- Benivo, a London-based employee mobility management platform, raised $12 million in funding led by Updata Partners.
- Modulous, a Seattle and London-based construction technology company, raised $11.5 million in Series A funding. SFV, Regal London, CEMEX Ventures, Blackhorn Ventures, GroundBreak Ventures, Goldacre, and Leela Capital invested in the round.
- Opus Security, a Tel Aviv-based cloud security orchestration and remediation startup, raised $10 million in seed funding. YL Ventures led the round and was joined by investors including Tiger Global and other angels.
- InsightFinder, a Durham, N.C.-based incident investigation and prevention platform, raised $10 million in Series A funding. Silicon Valley Future Capital led the round and was joined by investors including Yu Galaxy, Acadia Woods Partners, Eight Roads Ventures, Eastlink Capital, Fellows Fund, IDEA Fund Partners, and Triangle Tweener Fund.
- WhiteLab Genomics, a Paris, France-based predictive software simulation platform for gene and cell therapies design, raised $10 million in funding. Omnes Capital and Debiopharm co-led the round.
- Bluesky, a Menlo Park, Calif.-based workload optimization and cost governance company, raised $8.8 million in seed funding. Greylock led the round and was joined by investors including Quoble co-founder Ashish Thusoo, Cloudera co-founder Jeff Hammerbacher, and Microsoft Redmond research director Johannes Gehrke.
- Thirdwave, a remote-based blockchain discovery engine company and business data and analytics provider to gaming teams, raised $7 million in seed funding. Framework Ventures led the round and was joined by investors including Animoca Brands, Play Ventures, Shima Capital, Hustle Fund, and Oceans Ventures.
- Tract, a San Francisco-based online teaching platform for kids by kids, raised $7 million in seed funding. NEA led the round and was joined by angels including Sangha Capital/ACTAI’s Bill Tai, 23&Me CEO Anne Wojcicki, YouTube CEO Susan Wojcicki, Zynga founder Marc Pincus, and Chegg CEO Dan Rosensweig.
- Tidelift, a Boston-based solutions provider for open source software supply chain resilience, raised $6.5 million in Series C extension funding. AEI HorizonX, The Boeing Company, and Cisco Investments invested in the round.
- Mailchain, a London-based Web3 email platform, raised $4.6 million in seed funding co-led by Crane Venture Partners and Kenetic Capital.
- dope.security, a Mountain View, Calif.-based cybersecurity company, raised $4 million in funding led by boldstart ventures.
- t2, a Shanghai-based decentralized publishing platform, raised $3.4 million in seed funding, Inflection and Archetype led the round and were joined by investors including Metaweb, SevenX Ventures, Seed Club Ventures, Block0, GCR, Generalist Capital, and Marc Weinstein.
- GrowerIQ, a Toronto-based cannabis enterprise resource planning platform, raised $3 million in seed funding. Golden Section and MaRS IAF led the round and were joined by investors including LAGO, Delbridge, GTM Fund, and Gaingels.
- Cognitive3D, a Vancouver-based spatial analytics platform, raised $2.5 million in seed funding. Konvoy led the round and was joined by investors including Space Capital and Boost.vc.
- Bloom Community, an Oakland, Calif.-based events and connections app for LGBTQ and other communities, raised $2.5 million in seed funding led by Tuesday Capital.
. . .
Sustainability:
- Patch, a London and San Francisco-based B2B platform for integrating climate action, raised $55 million in Series B funding. Energize Ventures led the round and was joined by investors including Coatue Management and Andreessen Horowitz.
- Odyssey Energy Solutions, a Boulder, Colo.-based renewable energy platform for emerging markets, raised $5.34 million in funding. Equal Ventures led the round and was joined by investors including Twelve Below, Abstract Ventures, Founder Collective, and MCJ Collective.
Acquisitions & PE:
- CES Power, backed by Allied Industrial Partners, acquired Brickworks, a San Diego-based smart mapping software, geographic information system services, and zero-emissions infrastructure provider to the entertainment industry. Financial terms were not disclosed.
. . .
IPOs:
Nothing to see here…
. . .
SPACs:
Nothing to see here…
Funds:
- Alphabet invested $100 million across venture capital firms including Black Tech Nation Ventures, Collide Capital, Concrete Rose, Heirloom Capital Partners, Serena Ventures, Share Ventures, and Zeal Capital Partners.
- Telstra Ventures, a San Francisco-based venture capital firm, raised $350 million for its third fund focused on pre-growth and early growth companies across cloud, cyber, crypto, carbon, climate, and other software and digital sectors.
- Madrona Venture Group, a Seattle-based venture capital firm, raised $690 million across two funds. Madrona Fund 9 raised $430 million and will focus on supporting Pacific Northwest-based pre-seed, seed, and Series A founders. Acceleration Fund 3 raised $260 million and will focus on teams that have found product-market fit at Series B or C stage.
- Prime Movers Lab, a Jackson, Wyo.-based venture capital firm, raised $500 million for a fund focused on science companies in the energy, transportation, infrastructure, manufacturing, human augmentation, and agriculture sectors.
- Two Sigma Ventures, a New York-based venture capital firm, raised $400 million across two funds. Two Sigma Ventures IV will focus on early-stage startups and Two Sigma Ventures Opportunity Fund II will focus on growth-stage companies.
- North Island Ventures, a New York-based crypto-focused investment firm, raised $125 million for a fund focused on early-stage investments in crypto and Web3 companies and protocols
Final Numbers
Data: Bureau of Labor Statistics; Chart: Simran Parwani/Axios
Go deeper: August inflation heats up
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