Halborn, Fonoa, ZEBEDEE, Hashflow, TomoCredit, Meow, Koffie Insurance, Optic, Healthie, Perelel, Resolve, Whatnot, Contentsquare, Flip, Crunchbase; One Medical/Amazon
Last week’s Sourcery was MIA due to overdue wisdom teeth removal, which, no one really tells you, knocks you on your butt if you’re way too old to be getting them out. But in full LA fashion I was treated by my West Hollywood doctor to an elixir of Vitamin C and B12 infusion with my anesthesia, and woke up with a fresh pedicure (JK about the pedicure 😂 ).
A couple of insights from a week of a liquid diet:
Liquid diets suck. You should not have to drink food.
Nutribullets also suck. I tried to get the fancy one, Nutribullet Rx, and it does not work. Just get the Vitamix.
There needs to be another alternative to soup and smoothies. If you know something lmk. I have 2+ more weeks of “soft foods.” (Mashed potatoes don’t count, they’re gross)
To keep up with the light summer feeling, deals are still slow, headlines are still slow (unless you’re addicted to Elon drama), and hopefully you’re making time to travel while the quiet is still rolling.
Here are some good reads from the last week:
Reflections on the Consumer Correction: June Gloom, Meera Clark @ Redpoint
The Commerce World Is Grappling With Uncertainty, Damir Becirovic @ Index
A Recession is Coming, Right?, Jamin Ball @ Altimeter
PS - I’m off to Chicago Thurs-Fri, if you’re in town let me know!
. . .
Last Week (7/18-7/22):
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 Halborn, Fonoa, ZEBEDEE, Hashflow, TomoCredit, Charles, Meow, Koffie Insurance, Optic, FairPlay, Equals, Healthie, Cornerstone AI, Perelel, Resolve, Whatnot, Contentsquare, Flip, 15Five, Crunchbase, TextExpander, ZEDEDA, Spruce, Gordian Software, CivicEye; One Medical/Amazon
Final numbers on Big Tech stocks on tap to swing markets below.
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
- Sanctuary Wealth, an Indianapolis-based platform for financial advisors, raised $175 million in funding from Kennedy Lewis Investment Management.
- Halborn, a Miami-based blockchain security firm, raised $90 million in Series A funding led by Summit Partners.
- Fonoa, a remote-based tax automation company, raised $60 million in Series B funding. Coatue led the round and was joined by investors including Dawn Capital, Index Ventures, OMERS Ventures, FJ Labs, and Moving Capital.
- ZEBEDEE, a Hoboken, N.J.-based fintech and payment processor for the gaming industry, raised $35 million in Series B funding. Kingsway Capital, The Raine Group, and Square Enix led the round and were joined by investors including Lakestar and Initial Capital.
- Hashflow, a San Francisco-based decentralized finance trading platform, raised $25 million in funding. Electric Capital, Dragonfly Capital Partners, LedgerPrime, Balaji Srinivasan, Jump Crypto, Wintermute Trading, GSR, Kronos Research, Altonomy, Coinbase Ventures, Kraken Ventures, Fabric Ventures, Evernew Capital, Spacewhale Capital, and other angels invested in the round.
- TomoCredit, a San Francisco-based credit card lending company, raised $22 million in funding. Morgan Stanley's Next Level Fund, MasterCard, GoldHouse, Asian Hustle Network, and Hyphen Capital invested in the round.
- Charles, a Berlin-based conversational commerce system for WhatsApp, raised $20 million in Series A funding. Salesforce Ventures led the round and was joined by investors including Accel and HV Capital.
- Meow, a San Francisco-based crypto yield, raised $22 million in Series A funding. Tiger Global led the round and was joined by investors including QED and others.
- KitaBeli, a Jakarta-based social commerce platform, raised $20 million in funding. Glade Brook Capital led the round and was joined by investors including AC Ventures, GoVentures, and InnoVen Capital.
- Koffie Insurance, a Brooklyn, New York-based insurance company for the trucking and transportation sector, raised $11 million in Series A funding. Anthemis Group led the round and was joined by investors including Lerer Hippeau Ventures, Plug and Play Ventures, CP Overture, Breakout Capital, Two Lanterns Venture Partners, and others.
- Optic, a San Francisco-based Web3 A.I. company, raised $11 million in seed funding. Kleiner Perkins and Pantera Capital led the round and were joined by investors including Greylock Partners, Lattice Capital, OpenSea, Circle, Polygon, CoinDCX, Neon DAO, Flamingo DAO, and others.
- FairPlay, a Los Angeles-based decision-making algorithmic platform, raised $10 million in Series A funding. Nyca Partners led the round and was joined by investors including Cross River Digital Ventures, Third Prime, Fin Capital, TTV, Nevcaut Ventures, Financial Venture Studio, and Jonathan Weiner.
- Equals, a remote-based spreadsheet analytics platform, raised $6.6 million in seed funding. Craft Ventures led the round and was joined by investors including BoxGroup, Worklife Ventures, the Intercom founders, Front’s Mathilde Collin, Lattice’s Jack Altman, Vanta’s Christina Cacioppo, and others.
- Super Mojo, a New York-based NFT financing platform, raised $6 million in seed funding. BH Digital, DRW Venture Capital, Intersection Growth Partners, Neuberger Berman, Sfermion, Arca, Gemini, Everyrealm, Arrington Capital, BlockFi Ventures, and others invested in the round.
. . .
- Healthie, a New York-based infrastructure platform for digital health companies, raised $16 million in Series A funding. Velvet Sea Ventures led the round and was joined by investors including Greymatter Capital, Watershed, Builders VC, and others.
- YourChoice, a Berkeley, Calif.-based male contraception company, raised $15 million in Series A funding. Future Ventures led the round and was joined by investors including Refactor, Knollwood, North South Ventures, and RH Capital.
- Perelel, a Los Angeles-based women’s vitamin company, raised $4.7 million in seed funding. Unilever Ventures led the round and was joined by investors including Willow Growth Partners, M13 founder Courtney Reum, Bümo co-founder and CEO Joan Nyugen, Jenni Kayne CEO Julia Hunter, and other angels.
- Resolve, a Hanover, N.H.-based medical bills payment platform, raised $3.3 million in seed funding. AlleyCorp led the round and was joined by investors including Funding Circle, Collective Health, Collective Medical, Nomi, Compass, Seamless, and more.
. . .
Enterprise & Consumer:
- Contentsquare, a Paris and New York-based digital experience analytics company, raised $400 million in Series F funding. Sixth Street Growth led the round and was joined by investors including Bpifrance, Canaan, Eurazeo, Highland Europe, KKR, LionTree, SoftBank Vision Fund 2, and funds and accounts managed by BlackRock.
- Whatnot has raised $260 million at a $3.7 billion valuation in a Series D. CapitalG and DST Global co-led the round and were joined by investors including BOND, a16z, and YC Continuity. The Los Angeles-based company offers a live shopping platform for collectors and enthusiasts.
- Flip, a Los Angeles-based e-commerce platform, raised $60 million in Series B funding. WestCap led the round and was joined by investors including Mubadala Capital and Streamlined Ventures.
- 15Five, a San Francisco-based performance management company, raised $52 million in Series C funding. Quad Partners led the round and was joined by investors including Next47, Origin Ventures, Matrix Partners, Point Nine Capital, and New Ground Venture.
- Crunchbase, a San Francisco-based business information platform, raised $50 million in Series D funding. Alignment Growth led the round and was joined by investors including OMERS Ventures, Mayfield, and Emergence Capital.
- TextExpander, a San Francisco-based productivity software developer, raised $41.4 million in funding led by Summit Partners.
- ZEDEDA, a San Jose-based edge computing company, raised $26 million in Series B funding. Coast Range Capital, Lux Capital, Energize Ventures, Almaz Capital, Porsche Ventures, Chevron Technology Ventures, Juniper Networks, Rockwell Automation, Samsung Next, and EDF North America Ventures invested in the round.
- Anvilogic, a Palo Alto, Calif.-based cybersecurity detection automation company, raised $25 million in Series B funding. Neuberger Berman led the round and was joined by investors including Xerox Ventures, Foundation Capital, Point72 Ventures, G Squared, and Cervin Ventures.
- Spruce, an Austin-based lifestyle service provider, raised $26 million in Series B funding. Sweat Equity Partners led the round and was joined by investors including SoftBank, Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures.
- Phaidra, a Seattle-based A.I. control system company for industrial projects, raised $25 million in Series A funding. Starshot Capital led the round and was joined by investors including Helena, Ahren Innovation Capital, Mustafa Suleyman, Flying Fish, Section 32, and Character.
- Gordian Software, a Seattle-based API for selling flight add-ons, raised $25 million in Series A funding. Accomplice, Kinnevik, and others invested in the round.
- Dot Compliance, a Phoenix-based quality and compliance platform company, raised $23 million in Series B funding. Israel Growth Partners led the round and was joined by investors including Vertex Ventures and TPY Capital.
- AppViewX, a New York-based machine identity management and application infrastructure security company, raised $20 million in Series B funding led by Brighton Park Capital.
- Priori Legal, a New York-based marketplace for in-house legal teams, raised $15 million in Series A-1 funding. Eagle Proprietary Investments led the round and was joined by investors including Thomson Reuters Ventures, The LegalTechFund, Thirty Five Ventures, Peak6 Strategic Capital, Soma Ventures, Bridge Investments, Great Oaks Venture Capital, HearstLab, Mindset Ventures, and Jambhala.
- XSET, a Boston-based gaming and lifestyle organization, raised $15 million in Series A funding led by LightWork Worldwide.
- CivicEye, a Charlotte-based cloud-based public safety software provider for law enforcement, prosecutors, and courts, raised $12.4 million in Series A funding. Cercano Management led the round and was joined by investors including Relevance Ventures and other angels.
- Stationhead, a New York-based social music platform for artists and fans, raised $12 million in Series A funding led by Buttonwood Group Advisors.
- HiddenLayer, an Austin-based security platform for machine learning models, raised $6 million in seed funding led by Ten Eleven Ventures.
- Blustream.io, a Worcester, Mass.-based product experience platform, raised $5.2 million in Series A funding. PBJ Capital and GutBrain Ventures led the round and were joined by investors including York IE and Zenie Group.
- Push Security, a London-based SaaS security company, raised $4 million in seed funding led by Decibel Partners.
- The Garden, a London and Manchester-based learning platform, raised £3 million ($3.60 million) in seed funding led by Index Ventures.
- Charter, a New York-based digital media and insights company, raised $3 million in seed funding. Bloomberg Beta led the round and was joined by investors including Precursor Ventures, The Fund, Old Town Media, and other angels.
- DRAUP, a London-based digital fashion platform, raised $1.5 million in funding led by Variant Fund.
- Umami, a San Francisco-based open-source web analytics platform, raised $1.5 million in pre-seed funding led by Race Capital.
. . .
- Monolith, a Lincoln, Neb.-based clean hydrogen company, raised more than $300 million in funding. TPG Rise Climate and Decarbonization Partners led the round and were joined by investors including Magnetar, NextEra Energy Resources, SK Group, and Mitsubishi Heavy Industries.
Acquisitions & PE:
- Amazon.com agreed to acquire One Medical, a New York and San Francisco-based primary care provider. A deal is valued at $3.49 billion.
. . .
. . .
- FirstMark Capital, a New York-based venture capital firm, raised $1.1 billion across two funds. Their Capital VI fund will focus on consumer and enterprise technology companies in their earliest stages of development and their Opportunity Fund IV will focus on breakout companies in their growth phase.
- General Catalyst, a New York-based venture capital firm, raised $670 million for a fund focused on healthcare tech companies and partnerships with healthcare systems.
- Fifth Wall, a Marina Del Rey, Calif.-based venture capital firm, raised $500 million for a fund focused on software, hardware, renewable energy, energy storage, smart buildings, and carbon sequestration technologies.
- Portage Ventures, a Toronto-based investment firm, raised $655 million for a third fund focused on fintech investments in the United States, Europe and Canada.
- B Capital, a New York-based investment firm, raised $250 million for an early-stage fund.
Charted: Big Tech stocks on tap to swing markets
Data: Yahoo! Finance; Chart: Nicki Camberg/Axios
Watch out for Big Tech earnings starting tomorrow as those reports will help drive markets this week, Hope writes.
Collective earnings and revenue from Apple, Amazon, Microsoft, Google parent Alphabet and Facebook parent Meta have boosted the entire market since the start of the pandemic, MarketWatch notes.
By the numbers: Together, the five companies control 23% of the S&P 500’s market cap, according to Dow Jones Market Data Group.
Slowdowns — which several of the companies have already warned about — could drag down investor sentiment and the market as a whole.
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.