Connect with us

Crunchbase

The Briefing: Roblox To Debut In 2 Weeks, Joby Going Public Via SPAC, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Roblox direct listing debut planned for March 10

Roblox, the online game and game creation platform, is back on track for a public market debut after delaying plans for its public offering last year. The company is expected to make its market debut March 10.

San Mateo, California-based Roblox had originally planned for a traditional public offering, but has opted instead to go public via a direct listing. The decision was motivated in part by concerns that giant first-day pops by companies like Airbnb and DoorDash made it hard to settle on the appropriate initial offering price for shares, The Wall Street Journal reports.

Founded in 2004, Roblox has previously raised at least $856 million in known private funding, per Crunchbase data. Its last private valuation, as of January was reportedly around $29.5 billion.

— Joanna Glasner

Joby Aviation to go public via SPAC

Joby Aviation, a Santa Cruz, California-based company developing electric aircraft, announced plans to go public on the New York Stock Exchange through a merger with a SPAC called Reinvent Technology Partners.

The deal includes $910 million of fully committed funding from multiple institutional investors as well as Uber, a strategic backer. Under terms of the agreement, venture capitalist Reid Hoffman, co-founder of LinkedIn and a lead director of Reinvent Technology Partners, will join Joby’s board of directors.

Founded in 2009, Joby has previously raised at least $796 million in known funding, per Crunchbase data.

— Joanna Glasner

Fintech and e-commerce

RecargaPay, TCM, Finix, GiveSignup raise rounds: Brazil-based RecargaPay, providing a payments and mobile money ecosystem, raised $70 million in Series C funding co-led by IDC Ventures and Fuel Venture Capital. The new funding will be used to expand financial services offerings to small businesses and consumers as well as hiring new talent, and gives the company $134.6 million in total funding, according to Crunchbase data. RecargoPay said it is currently EBITDA positive with a revenue run rate of more than $50 million. Technology Commerce Management, providing predictive value analysis and financial performance of online stores for e-commerce aggregators, announced $28 million in pre-IPO equity and debt from undisclosed backers to facilitate the acquisition of 10 e-commerce businesses with eight based in the U.S. Of the fundraise, the Israel-based company closed $18 million in equity. Meanwhile, TCM is currently raising another round of funding and has signed with Canaccord Genuity to lead an initial public offering later this year. The e-commerce market is growing at an annual average rate of 21.6 percent with nearly $5 trillion in online sales forecasted for 2021. Payments infrastructure company Finix closed on $3 million in a Black and Latinx investor-led special purpose vehicle that gives the company more than $100 million in total funding since the company was started in 2016. The San Francisco-based fintech last raised a $30 million Series B extension last August. At the time, Richie Serna, Finix’s CEO, said the company’s transaction volume grew 4.5 times from Q2 2019 to Q2 2020, and the company experienced over 450 percent year-over-year growth. The global digital payments industry is already a $4 trillion market and is expected to be $6.7 trillion in the next three years, according to data from LearnBonds.com. GiveSignup, a supporter engagement platform for nonprofit revenue generation, announced a $3.2 million Series A led by Payroc. The company, headquartered in Morristown, New Jersey, enables nonprofits to raise money and engage supporters from live and virtual run/walk/ride and ticket events to donation sites and fundraising campaigns.

— Christine Hall

Health care

Truvian raises over $105M for blood testing system: San Diego-based Truvian Sciences announced the close of more than $105 million in an oversubscribed Series C financing round led by TYH Ventures, Glen Tullman of 7wireVentures, and Wittington Ventures. The funds will go toward development of Truvian’s automated benchtop blood testing system.

— Joanna Glasner

Redox raises $45M: Redox, a company making health care data useful, announced a $45 million round of Series D funding led by Adams Street Partners. The latest round brings the company’s total funding to more than $95 million since its inception in 2014. The Madison, Wisconsin-based company said its data integration grew 300 percent and it surpassed 1,000 live connections on the Redox network as of October.

— Christine Hall

New fund

OakHC/FT closes fourth fund: Oak HC/FT, a venture growth equity fund investing in health and financial technology, announced that it raised $1.4 billion for its Fund IV — its largest fund to date, bringing the firm’s assets under management to $3.3 billion across the four funds. The firm said it has 60 companies in its portfolio. It was most recently involved in the rounds of Circulo Health, a Medicaid insurance company that raised a $50 million Series A, and payment platform Rapyd’s $300 million Series D, according to Crunchbase data.

— Christine Hall

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

— Joanna Glasner

Source: https://news.crunchbase.com/news/briefing-2-24-21/

Crunchbase

The Briefing: (11-29-21)

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

India’s Slice snags $220M

Slice, an Indian startup that offers payment cards with a marketing focus on young professionals, raised $220 million in a funding round led by Tiger Global and Insight Partners.

The financing sets a valuation of over $1 billion for the Bangalore-based company, which was founded in 2016. In addition to using its cards for payments, Slice also provides installment payment features and discounts at various merchants.

Funding rounds

Thought Machine picks up $200M: London-based Thought Machine, provider of a cloud-based banking technology platform for financial services customers, raised $200 million in a Series C funding round led by Nyca Partners. The round sets a valuation of over $1 billion for the seven-year-old company.

Motorway raises $190M: London-based Motorway, a used car marketplace, raised $190 million in a Series C round led by Index Ventures and ICONIQ Growth. Founded in 2017, the company has raised around $276 million in total funding to date, per Crunchbase data.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Thought Machine picks up $200M: London-based Thought Machine, provider of a cloud-based banking technology platform for financial services customers, raised $200 million in a Series C funding round led by Nyca Partners. The round sets a valuation of over $1 billion for the seven-year-old company.

Source: https://news.crunchbase.com/news/briefing-11-29-21/

Continue Reading

Crunchbase

The Week’s 10 Biggest Funding Rounds: Crypto Conglomerate Leads The Way, Self-Driving Car Startup Nuro Revs Up Big Round

No $1 billion round this week, but U.S.-based startups did manage to raise three rounds of more than a half-billion dollars, as investors remained attracted to the crypto market, self-driving cars and new, clean energy production

Published

on

This is a weekly feature that runs down the week’s top 10 funding rounds in the U.S. Check out last week’s entry here.

No $1 billion round this week, but U.S.-based startups did manage to raise a couple of rounds of a half-billion dollars or more, as investors remained attracted to self-driving cars, new, clean energy production and fintech.

Subscribe to the Crunchbase Daily

1. Nuro, $600M, autonomous cars: Mountain View, California-based self-driving car startup Nuro raised a $600 million Series D from investors including Google and Tiger Global Management. The new round of funding brings Nuro’s valuation up to $8.6 billion, TechCrunch reported. Nuro is designing a fleet of electric self-driving vehicles to transport packages. The investment from Google is noteworthy because it includes a partnership with Google Cloud—something important as it looks to deploy its fleets. Founded in 2016, the company has now raised more than $2 billion, according to Crunchbase data.

2. Helion Energy, $500M, energy: Everett, Washington-based Helion Energy raised $500 million in a Series E funding round led by Sam Altman. The fusion energy startup will use the cash to help complete the construction of Polaris, Helion’s seventh-generation fusion generator. The energy company is looking to produce low-cost around-the-clock power generation with a zero-carbon footprint. The funding includes an opportunity for an additional $1.7 billion tied to reaching performance milestones.

3. HoneyBook, $250M, fintech: The freelance market continues to expand and San Francisco-based HoneyBook closed a $250 million Series E round led by Tiger Global Management to help those in it manage their work better. The company’s platform helps both freelancers and independent business owners manage their customers—from their first interactions though invoicing and payment. Since being founded in 2013, the company has raised $498 million, according to Crunchbase data.

4. Treasure Data, $234M, data analytics: Companies are looking for any advantage they can get to drive better digital customer experiences. Mountain View, California-based customer data platform Treasure Data closed a $234 million investment led by SoftBank on the promise of just that. The company’s platform leverages customer data in an attempt to drive the best possible experiences while also protecting privacy.

5. Everlaw, $202M, legal tech: Oakland, California-based litigation platform Everlaw closed $202 million in a Series D led by TPG Growth at a $2 billion valuation. Everlaw has watched total cases on its platform more than double since its $62 million Series C in March 2020. Companies in the legaltech sector have seen increased interest from investors this year as the COVID-19 pandemic has forced more firms to adopt cloud-native technologies. Founded in 2010, the company has raised just less than $300 million to date, according to Crunchbase data.

6. When I Work, $200M, productivity tool: Minneapolis-based When I Work, provider of a platform for hourly workers and their employers to share, plan and track work schedules, has raised $200 million in a growth funding round backed by Bain Capital. Founded in 2010, the company previously raised at least $24 million in known funding and is currently profitable.

7. Plate IQ, $160M, fintech: San Francisco-based restaurant and hospitality payments platform PlateIQ raised a $160 million Series B.

8 to 10. We have a four-way tie for the last three spots this week, as San Francisco-based fintech platform Chipper Cash, San Diego-based hospitality platform Cloudbeds, Los Angeles-based video game engine Mythical Games, and Miami-based senior-assistance platform Papa all raised $150 million rounds.

Big global deals

U.S.-based startups dominated the largest rounds this past week, taking the top six spots. However, two China-based startups saw big funding rounds.

  • Autonomous driving startup Momenta closed a $200 million round.
  • Sugar-free and low-calorie beverage marker Genki Forest also closed a $200 million venture round.

Methodology

We tracked the largest rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Oct. 30 to Nov. 5. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Note: This story has been revised to reflect New York-based Digital Currency Group’s $700 million deal was a secondary offering and not a new fundraise.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/biggest-vc-startup-funding-deals-digital-currency-group-nuro/

Continue Reading

Crunchbase

The Briefing: Hailo Lands $136M Series C, SupportLogic Closes $50M Series B, and more

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Hailo lands $136M for AI chips

Tel Aviv-based Hailo, a startup developing AI accelerator chips for edge devices, announced that it raised $136 million in a Series C funding round led by Poalim and entrepreneur Gil Agmon. The round brings Hailo’s total funding to $224 million.

— Joanna Glasner

SupportLogic raises $50M Series B

San Jose -based SupportLogic closed a $50 million Series B funding round led by WestBridge Capital Partners and General Catalyst. Existing investors Sierra Ventures and Emergent Ventures also participated in the round.

SupportLogic’s AI-based platform allows businesses to act on customer communications in real-time in order to offer better customer service and support.

Founded in 2016, the company has raised approximately $62 million to date, according to Crunchbase data.

— Chris Metinko

SaaS

GitLab raises IPO range: San Francisco-based GitLab, a provider of development and collaboration tools for programmers, raised the proposed share price range for its upcoming IPO. The company now plans to raise around $700 million by offering 10.4 million shares at a price range of $66 to $69, up from the prior range of $55 to $60.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/briefing-10-12-21/

Continue Reading

Trending