Sourcery (9/28-10/2)
Rally, Noyo, Collective, Retireable, Yotta, Capitalize, Tend, Siren, Uber Freight, Seismic, Shipbob, Papaya Global, Axis Security, Pacaso, Attunely, Sora. Poshmark, Eargo, Hims, Playboy
Last Week (9/28-10/2):
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 Rally, Noyo, Collective, Retireable, Yotta, Capitalize, Tend, Siren, Uber Freight, Seismic, Shipbob, Papaya Global, Axis Security, Pacaso, Attunely, Sora. Poshmark, Eargo, Hims, Playboy.
Final numbers on Spotify & Slack Since IPO at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- VTEX, a New York-based commerce-marketplace-OMS platform, raised $225 million in Series D funding, valuing it at $1.7 billion. Investors include Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst, and SoftBank.
- Payrix, a Frisco, Texas-based fintech company, raised $50 million in extended Series A funding. Blue Star Innovation Partners and Providence Strategic Growth.
- PayCargo, a Coral Gables, Fla.-based payments network for global supply chains, raised $35 million from Insight Partners. www.paycargo.com
- Facet Wealth, a Baltimore, Maryland-based fintech, raised $25 million in Series B funding. Warburg Pincus led the round.
- Rally, a New York-based fractional investing platform for alternatives investments such as luxury cars, raised $17 million. Investors included Upfront Ventures, Porsche Ventures, Jim Pallotta’s Raptor Group, Global Brain, Relay Ventures and Alexis Ohanian.
- Noyo, a San Francisco, Calif.-based API platform for health insurance data exchanges, raised $12.5 million in Series A funding. Costanoa Ventures and Spark Capital led the round and were joined by Homebrew, Fika Ventures, Precursor Ventures, Core Innovation Capital, Garuda Ventures and Webb Investment Network.
- PayMongo, an online payment platform for businesses in the Philippines, raised $12 million in Series A funding. Stripe led, and was joined by Bedrock Capital and return backers Global Founders Capital and YC. http://axios.link/8bdh
- Collective, a back-of-office platform for the self-employed, raised $8.7 million in funding from General Catalyst and QED Investors.
- Elevate Security, a Berkeley, Calif.-based human risk management platform, raised $8.25 million in Series A1 funding. Foundry Group led, and was joined by Salesforce Ventures, Shasta Ventures, and return backers Costanoa Ventures and Defy. www.elevatesecurity.com
- Cube Dev, a San Francisco-based data platform, raised $6.2 million in seed funding. Bain Capital Ventures led the round and was joined by investors including Eniac Ventures, Betaworks, Innovation Endeavors, and Slack Fund.
- Retirable, a New York-based retirement planning startup, raised $4.7 million in seed funding. Vestigo Ventures led, and was joined by Diagram Ventures and Primetime Partners. http://axios.link/2dHb
- Yotta, a New York-based maker of a prize-linked savings account which rewards customers saving money by entering them into weekly drawings, raised a $3.3 million in seed funding from Slow Ventures, FundersClub, TwentyTwo VC, Chapter One, and CapitalX.
- Riskbook, a U.K.-based provider of reinsurance technology, £2 million ($2.6 million) in seed funding. Investors include Episode 1 Ventures, MMC Ventures and Seedcamp.
- Capitalize, a New York-based platform to transfer retirement assets, raised $2 million in seed funding. Bling Capital led the round and was joined by investors including Greycroft, RRE Ventures and Walkabout Ventures.
- Doorvest, a San Francisco-based end-to-end real estate investing platform, raised $1 million in pre-seed funding. Investors included Mucker Capital and CEOs from Sheltr (Andrew Wynn), Human Interest (Roger Lee), Open Listings (Eric Wu), and Invitation Homes (Dallas B. Tanner).
. . .
Care:
- Carmot Therapeutics, a Berkeley, Calif.-based biotech company focused on metabolic diseases, raised $47 million in series C funding. Investors include Amgen, The Column Group and Horizons Ventures.
- Tend, a New York-based dental practice startup, raised $37 million in Series B funding. GV led, and was joined by Juxtapose, Redpoint, Tiger Global, Zigg Capital and Good Friends. www.hellotend.com
- Siren, a San Francisco-based maker of smart textiles with remote patient monitoring, raised $9 million in additional Series B funding. Anathem Ventures led the round and was joined by investors including DCM, Khosla Ventures, 500 Startups and Founders Fund.
- SISU, an Ireland and U.K.-based aesthetics clinic and e-commerce platform, raised $5.5 million in Series A funding. Greycroft and Bullpen Capital co-led the round and were joined by Mana Ventures, the Gaingels syndicate, Liam Casey (Founder & CEO of PCH), and Dan and Linda Kiely (co-founders of Voxpro).
. . .
Future of Work:
- Uber Freight, the logistics arm of Uber, raised $500 million in Series A funding, valuing the unit at $3.3 billion. An investor group led the round by Greenbriar Equity Group made the investment.
- Kavak.com, a Mexico-based pre-owned vehicle buying and selling market, is now valued at $1.2 billion. Its investors have included Softbank, Greenoaks, DST Global, Kaszek Ventures, QED investors, and General Atlantic.
- Cazoo, a U.K.-based online used car buying platform, raised £240 million ($310 million) of funding. General Catalyst and D1 Capital Partners led the round and were joined by Fidelity Management & Research Company and Blackrock.
- Allbirds, a San Francisco-based sustainable footwear maker, raised $100 million in a Series E funding. Franklin Templeton led the round that values Allbirds at $1.7 billion. Read more.
- Seismic, a San Diego-based sales enablement and marketing orchestration platform provider, raised $92 million in Series F funding. Permira led the round and was joined by investors including Ameriprise Financial,EDBI, Jackson Square Ventures, Lightspeed Venture Partners, and T. Rowe Price. The round values Seismic at approximately $1.6 billion.
- ShipBob, a Chicago-based e-commerce and fulfillment company, raised $68 million in Series D financing. SoftBank Vision Fund 2 led the round and was joined by investors including Menlo Ventures, Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator.
- Papaya Global, an Israeli provider of cloud-based payroll and HR software, raised $40 million in Series B funding. Scale Venture Partners led, and was joined by Workday Ventures, ClalTech, and return backers Insight Partners, Bessemer Venture Partners, New Era Ventures, Group 11, and Dynamic Loop. http://axios.link/NejG
- ButterflyMX, a New York-based maker of a smart intercom, raised $35 million. Volition Capital led the round and was joined by investors including Egis Capital, RiverPark Ventures, and Stifel Financial Corporation.
- Axis Security, a San Mateo, Calif.-based zero-trust access startup, raised $32 million in Series B funding. Canaan Partners led, and was joined by return backers Ten Eleven Ventures and Cyberstarts. www.axissecurity.com
- Humane, a San Francisco-based company computing company, raised $30 million in Series A funding. Sam Altman and Lachy Groom led the round and were joined by Marc Benioff, Valia Ventures, Plexo Capital, Kindred Ventures and others.
- Liquid Death, a Santa Monica, Calif.-based canned water startup, raised $23 million in Series B funding from backers like Pernod Ricard Group, Fat Mike, and return backer Velvet Sea Ventures. http://axios.link/Umgy
- Braintrust, a San Francisco-based network for technical freelancers, raised $18 million. ACME and Blockchange the round and was joined by investors including Pantera, Multicoin and Variant.
- Pacaso, a San Francisco-based company for second home ownership launched by Zillow co-founder and former CEO Spencer Rascoff, raised $17 million in Series A funding. Maveron led the round and was joined by investors including Crosscut and Global Founders Capital.
- Golden, a data-centric wiki of tech information, raised $14.5 million in Series A funding led by seed backer Andreessen Horowitz. http://axios.link/hODN
- UPShow, a Chicago-based provider of interactive digital signage for physical retailers, raised $14 million in Series A funding from 4490 Ventures, Jump Capital, TDF Ventures, and Signature Venture Banking Group. http://axios.link/5x2E
- Eclypsium, Portland, Ore.-based enterprise device security company, raised $13 million in funding. Investors included AV8 Ventures, TransLink Capital, Mindset Ventures, Alumni Ventures Group, Ridgeline Partners, Intel Capital, Madrona Venture Group, Andreessen Horowitz, and Ubiquity Ventures.
- Pixie Labs, a San Francisco-based way for developers to observe and troubleshoot their application’s performance, raised $9.2 million in Series A funding. Benchmark led the round and was joined by investors including GV.
- Cogniac, a San Jose, Calif.-based image and video analytics platform, raised $10 million in Series B funding. Autotech Ventures led, and was joined by Vanedge Capital, Wing Venture Capital, Yellowstone Ventures, and The George Kaiser Family Foundation. http://axios.link/6pHH
- Strigo, an Israeli collaborative training platform, raised $8 million in Series A funding. Velvet Sea Ventures led, and was joined by return backers Greycroft and Hanaco. www.strigo.io
- Bamboo Systems, a Cambridge U.K. and California, U.S.-based firm seeking to speed up computing, raised $7 million in funding. Seraphim Capital and Opea Holding led the round and were joined by investors including Future Fund.
- Fluree, a Winston-Salem, N.C.-based secure data management company, raised $6.5 million in seed funding. Investors included 4490 Ventures, Rise of the Rest, Good Growth Capital, Engage Ventures and former Venrock Managing Partner Ray Rothrock.
- Attunely, a Seattle-based platform payments collection, raised $6 million in Series A funding. Investors included Framework Venture Partners, Anthos Capital, and Vulcan Capital. Read more.
- Coiled, a San Francisco-based solution for scaling data science, machine learning, and A.I. in Python, raised a $5 million in seed funding. Costanoa Ventures and IA Ventures led the round.
- Buzzer, a New York-based mobile platform for live sports, raised $4 million in seed funding. Lerer Hippeau and Sapphire Sport led the round and were joined by investors including R&R Venture Partners and Imagination Capital.
- Intelage, a Seattle-based cloud-based global trade management and logistics platform, raised $3.5 million dollars in seed funding. Blumberg Capital led the round and was joined by investors including Vulcan Capital.
- DeepSurface Security, a Portland-based predictive cybersecurity platform, raised $1 million in seed funding. Cascade Seed Fund led the round and was joined by investors including SeaChange Fund and Voyager Capital.
- Sora, an Atlanta-based virtual high school platform, raised $2.7 million in seed funding Union Square Ventures led the round.
- HAGs, a New York-based social network focused on high school students, raised $1 million in funding. GV led the round and was joined by investors including BoxGroup.
. . .
Sustainability:
- Bloomscape, a Detroit-based shipper of live plants, raised $15 million in Series B funding. General Catalyst led the round.
- LARQ, a San Francisco-based maker of water purifiers, raised $10 million in Series A funding. Seventure led the round and was joined by investors including DCM, Capricorn Investment Group, NBA champion Draymond Green, Capricorn Investment Group, and Heuristic Capital.
IPOs:
- Poshmark, a Redwood City, Calif.-based maker of an online marketplace for pre-owned luxury goods, filed confidentially for an IPO. Investors include Temasek, Mayfield Fund, and GGV Capital.
- Eargo, a San Jose, Calif.-based hearing-aid maker, filed for a $100 million IPO. The firm posted revenue of $32.7 million and loss of $44.5 million in 2019. New Enterprise Associates, Future Fund, Gilde Healthcare, and Longitude Venture back the firm. Read more.
- Datto, a Norwalk, Conn.-based data protection software company owned by Vista Equity Partners, filed for an IPO that Renaissance Capital estimates could raise $400 million. It plans to list on the NYSE (MSP) with Morgan Stanley as lead underwriter, and reports $10 million of net income on $249 million in revenue for the first half of 2020. http://axios.link/R8CW
- AcademySports + Outdoors, a KKR-backed sporting goods retailer, raised $203 million in its IPO. The company priced at $13 per share (below $15-$17 range), and will list on the Nasdaq (ASO) with Credit Suisse as lead underwriter. The Katy, Texas-based company reports $120 million of net income on $4.8 billion in revenue for the fiscal year ending Feb. 1, 2020.
-AmeriHome, a Thousand Oaks, Calif.-based residential mortgage lender and servicer, filed for a $100 million IPO. It reports $275 million of net income on $442 million of net revenue for the first half of 2020. http://axios.link/BRuQ
-Guild Holdings, a San Diego-based mortgage lender and services provider, filed for a $100 million IPO. It plans to list on the NYSE (GHLD) with Wells Fargo as lead underwriter, and reports $110 million of net income on $604 million in net revenue for the first half of 2020. http://axios.link/4T9P
. . .
SPACs:
- Hims, the online prescription drug startup, plans to go public via merger with Oaktree Acquisition Corp., a SPAC, in a deal that values the firm $1.6 billion. Founders Fund, Forerunner Ventures, IVP, Redpoint Ventures, Thrive Capital, McKesson Ventures, and CPPBIB back Hims Read more.
- Playboy Enterprises, the company behind Playboy, plans to go public via merger with Mountain Crest Acquisition Corp., a SPAC. The deal values the firm at $381 million.
Funds:
- Bullpen Capital raised $130 million for its fifth fund. Read more.
- SaaS Ventures of Maryland secured $22 million of its $50 million-targeted second fund, per an SEC filing. www.saasventurecapital.com
Final Numbers
Data: Yahoo Finance; Chart: Axios Visuals