Sourcery (9/20-9/24)

Sorare, Dapper Labs, Bilt Rewards, Bolttech, Metrika, Sprout, Devoted Health, Nomad Health, Centivo, Loyal, Intenseye, Pearl Health, Chapter, 9am.Health, Kavak, Fivetran, Lightricks, HumanCo, Almanac

Last Week (9/20-9/24):

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 Sorare, Dapper Labs, TrueLayer, Bilt Rewards, Bolttech, Orca, Metrika, Sprout, Devoted Health, Nomad Health, Centivo, Meru Health, NOCD, Loyal, Intenseye, Pearl Health, Chapter, Grow Therapy, Unifi Health, 9am.Health, Journey Clinical, Kavak, Fivetran, Mirakl, FLYR Labs, Blueground, Emerge, Loft Orbital, StreamElements, Lightricks, Provi, Ocroclus, Rewind, Clickhouse, NTWRK, Statespace, Panorays, Sleeper, HumanCo, Almanac, Rose, Data.io, Pronto, RemNote, Cabinet, Eat Just, Ripple Foods, Membrion, Recycleye, Agtonomy; Frank, Levelset; Toast, Remitly, EngageSmart, Clearwater Analytics, Cue Health, Sovos Brands, AvidXchange; WeWork, Transfix

Final numbers on Sustainable Investment Consideration at the bottom.


Deals 

Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC

Fintech:

- Sorare, a French fantasy soccer, sports trading cards, and NFT company, raised $680 million in Series B funding. SoftBank led the round and was joined by investors including Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP, Liontree, Benchmark, Accel, and Headline, valuing it at $4.3 billion.

- Dapper Labs, the Canadian company behind NBA Top Shot and the Flow blockchain, raised $250 million. Coatue led the round and was joined by investors including a16z, GV (formerly Google Ventures) and Version One Ventures as well as BOND and Government of Singapore Investment Corporation.

- ​​Vestiaire Collective, a Paris-based luxury resale marketplace, raised $210 million. Softbank Vision Fund 2 and Generation Investment Management led the round valuing it at $1.7 billion.

- TrueLayer, a London-based open banking company, raised $130 million. Tiger Global Management led the round valuing it over $1 billion.

- Bilt Rewards, a New York City-based loyalty program for property renters to earn points, raised $60 million valuing it at $350 million. Wells Fargo and Mastercard led the round and was joined by investors including The Blackstone Group, AvalonBay Communities, Douglas Elliman, Equity Residential, GID-Windsor Communities, LENx, The Moinian Group, Morgan Properties, and Starwood Capital Group.

- Spenmo, a Singapore-based software startup focused on payables, raised $34 million in Series A funding. Insight Partners led the round.

- bolttech, an insurtech, raised another $30 million in series A funding led by Activant Capital Group.

- Orca, a decentralized cryptocurrency exchange, raised $18 million in Series A funding. Polychain, Placeholder, and Three Arrows Capital invested along with Jump Capital, Sino Global Capital, Collab+Currency, DeFiance Capital, Zee Prime, Coinbase Ventures, and Solana Capital.

- Vyne, a London-based payments platform, raised $15.5 million in seed funding. Investors included Hearst Ventures, Entrée Capital, Triplepoint, Seedcamp, Venrex, Founder Collective, and Partech.

- Amberdata, a New York City-based blockchain analytics startup, raised  $15 million in Series A funding. Citi led the round.

- Metrika, a Cambridge, Mass.-based blockchain intelligence company, raised $14 million in Series A funding. Neotribe Ventures led the round and was joined by investors including  Coinbase Ventures, Samsung NEXT, Nyca Partners, and SCB 10X.

- Awning, a San Francisco-based real estate investing website, raised $9.3 million. Global Founders Capital led the round and was joined by investors including MassMutual Ventures.

- Just Insure, a Los Angeles-based pay-per-mile auto insurer, raised $8 million in funding. CrossCut Ventures, ManchesterStory, and Western Technology Investments invested.

- Sprout, a Brazilian maker of an app for investing in the U.S. market, raised R$30 million ($5.6 million) in seed funding. Investors included Y Combinator, Public.com, Sound Ventures, Liquid2, Geometry Ventures, HOF Capital, Quiet Ventures, First Check Ventures, Investo, and The Marathon Lab.

- Maroo, a New York City-based buy now, pay later startup focused on the wedding industry, raised $3.8 million. Investors included Rogue Capital, i2bf, Pioneer Fund, Darco Capital, Acrobator Ventures, and YC.

. . .

Care:

- Devoted Health, a Waltham, Mass.-based health insurer focused on Medicare Advantage plans, is raising up to $1.2 billion in Series D funding at around an $11.5 billion pre-money valuation, per a Delaware stock authorization filing. http://axios.link/9ly4

- Nomad Health, a New York City-based travel-nursing company, raised $63 million. Adams Street Partners led the round.

- Pager, a New York City-based virtual care company, raised $50 million in Series C funding. Susquehanna Private Equity Investments led the round and was joined by investors including Horizon Healthcare Services.

- Centivo, a new health plan for self-funded employers, anchored around leading providers of value-based care, announced today that it has raised a $51 million Series B1, less than 10 months after its previous round. B Capital Group and Maverick co-led the round.

- Meru Health, a San Mateo, Calif.-based online mental health company, raised $38 million in Series B funding. Industry Ventures led the round and was joined by investors including Bold Capital Partners, Freestyle VC, FMZ Ventures, and Leksell Social Ventures.

- NOCD, a Chicago-based provider of obsessive compulsive-disorder treatment, raised $33 million in Series B funding. F-Prime Capital led the round and was joined by investors including Eight Roads Ventures, Kaiser Permanente Ventures, 7wireVentures, Health Enterprise Partners (HEP), and Chicago Ventures.

- Loyal, a San Francisco-based dog longevity drug developer, raised $27 million. Khosla Ventures led the round and was joined by investors including First Round Capital, Box Group, Collaborative Fund, The Longevity Fund, and Lachy Groom. 

- Intenseye, a provider of video analytics for employee health and safety, raised $25 million in Series A funding. Insight Partners led, and was joined by insiders Point Nine and Air Street Capital. www.intenseye.com

- Rune Labs, a San Francisco-based brain data company focused on neuroscience therapeutics, raised $22.8 million in Series A funding. Eclipse Ventures led the round and was joined by investors including DigiTx Partners and Moment Ventures.

- Pearl Health, a New York City-based primary health tech company, raised $18 million in Series A funding. A16z led the round and was joined by investors including AlleyCorp and Kevin Ryan.

- Chapter, a New York City-based medicare plan selection and enrollment guide, raised $17 million in Series A funding. Narya Capital led the round and was joined by investors including Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital, and Health2047 Capital Partners. Peter Thiel also joined the company’s board of directors.

- Grow Therapy, a New York City-based way to find therapists, raised $15 million in Series A funding. SignalFire led the round.

- UnifiHealth, a Columbus, Oh.-based health plan for small businesses, raised $5.4 million in seed funding. Anthemis led the round and was joined by investors including Echelon Capital, Flare Capital, Digitalis Ventures and Great Oaks VC.

- Veracity, a New York City-based personal care and wellness business using hormone testing, raised $5 million in seed funding. Global Founders Capital led the round and was joined by investors including L Catterton, Meridian Street Capital, Great Oaks, FAB Ventures, and Silas Capital. 

- 9am.health, a San Diego-based virtual diabetes clinic, raised $3.7 million in seed funding. Investors included Founders Fund, Define Ventures, Speedinvest, and iSeed Ventures.

- Journey Clinical, a New York City-based psychedelics company, raised $3 million in seed funding. Fifty Years led the round and was joined by investors including Neo Kuma Ventures, Palo Santo, PsyMed Ventures, Lionheart Ventures, Christina Sass (co-founder of Andela), ​​Edvard Engesæth (co-founder of Nurx), and Hans Gangeskar (co-founder of Nurx).

. . . 

Future of Work:

- Kavak, a Mexico City-based used-car marketplace, raised $700 million in a Series E round, valuing it at $8.7 billion. General Catalyst led the round and was joined by investors including Tiger Global, Spruce House, D1, SEA, Founders Fund, Ribbit Capital, and SoftBank.

- Fivetran, an Oakland, Calif.-based-based automated data analytics company, raised $565 million Series D funding valuing it at $5.6 billion. Andreessen Horowitz led the round and was joined by investors including General Catalyst, CEAS Investments, Matrix Partners, ICONIQ Capital, D1 Capital Partners, and YC Continuity. It also acquired HVR for $700 million.

- Mirakl, a Paris-based maker of software for online marketplaces, raised $555 million in Series E funding. Silver Lake led the round and was joined by investors including 83North, Elaia Partners, Felix Capital, and Permira. The deal values the business at $3.5 billion.

- SmartLabs, a Boston-based lab space startup, raised $250 million in Series B funding. ArrowMark Partners led the round and was joined by investors including Winslow Capital Management and Onex Falcon.

- Rebellion Defense, a New York City-based developer of A.I. defense solutions, raised $150 million in Series B funding at a $1 billion pre-money valuation. Insight Partners and Venrock led the round.

- FLYR Labs, a San Francisco-based software maker for the airline and travel industries, raised $150 million in Series C funding. WestCap led the round and was joined by investors including Silver Lake Waterman, WndrCo, Peter Thiel, Streamlined Ventures, JetBlue Technology Ventures, and Gopher Asset Management.

- Blueground, a New York City-based website for monthly rentals, raised $140 million in Series C funding. WestCap led the round and was joined by investors including Geolo Capital, VentureFriends, and Prime Ventures.

- Emerge, a Scottsdale, Ariz.-based digital freight marketplace, raised $130 million in Series B funding. 9Yards Capital, Tiger Global Management and The Spruce House Partnership led the round and were joined by investors including New Road Capital Partners and Greycroft.

- Loft Orbital, a San Francisco-based space startup, raised $130 million in Series B funding, per the Information. Blackrock led the round, valuing it at $550 million.

- StreamElements, a Los Angeles-based provider of engagement and monetization tools for video creators, raised $100 million in funding. SoftBank Vision Fund 2 led the round and was joined by investors including PayPal Ventures, and MoreTech.

- Sunday, a London-based restaurant payment solution, raised $100 million Series A funding. Coatue and Partners of DST Global led the round.

- Lightricks, an Israel and New York City-based creator of photo and video editing apps including Facetune2, raised $100 million in Series D funding (an additional $30 million was secondary) valuing it at $1.8 billion. Insight Partners and Hanaco Venture Capital led the round and were joined by investors including Goldman Sachs Asset Management, Clal Tech, Harel Insurance and Finance, and Greycroft.

- Provi, a Chicago-based online ordering platform for the beverage alcohol industry, raised $100 million across two rounds: $75 million in Series C funding at a valuation of $750 million led by D1 Capital Partners and $25 million in Series B funding by CPMG.

- Ocrolus, a New York City-based maker of a system to analyze financial documents, raised $80 million in Series C funding. Fin VC led the round, valuing Ocrolus over $500 million.

Rewind, a Canadian-based cloud data recovery service, raised $65 million in Series B funding. Insight Partners led the round and was joined by investors including Bessemer Venture Partners, FundFire, Inovia Capital, Ridge Ventures, ScaleUp Ventures, and Union Ventures, as well as Atlassian Ventures.

ClickHouse, a New York City-based database management software company, raised $50 million in Series A funding. Index Ventures and Benchmark led the round and were joined by investors including Yandex.

- NTWRK, a video shopping app, raised $50 million in funding. Goldman Sachs Asset Management led the round and was joined by investors including Kering.

- Statespace, a New York-based gaming startup that aims to aid in neuroscience, raised $50 million co-led by insiders Khosla Ventures and Lux Capital. Other backers include FirstMark Capital, June Fund, West Ventures, AME, Bessemer Venture Partners, Modern Venture Partners, Mirae Asset, Animal Capital, Riverside and Gaingels. http://axios.link/ZsTr

- June Homes, a New York City-based apartment rental agency, for $50 million. SoftBank Ventures Asia led the round and was joined by investors including TQ Ventures, FJ Labs, K50, Reshape, Quiet Capital, and angel investors including Demi Lovato (musician and human rights activist) and Scott Belsky (founder of Behance). 

- Bigeye, a San Francisco-based maker of data quality monitoring tech, raised $45 million in Series B funding. Coatue led the round and was joined by investors including Sequoia Capital and Costanoa Ventures.

- Panorays, a New York City-based security risk management company, raised $42 million in Series B funding. Greenfield Partners led the round and was joined by investors including  Aleph and Oak HC/FT as well as new investors BlueRed Partners, Greenspring Associates, and Moneta VC.

- Sleeper, a San Francisco-based fantasy sports company, raised $40 million in Series C funding. Andreessen Horowitz led the round and was joined by investors including Klay Thompson (Thompson Family Foundation).

- HumanCo, an Austin-based consumer products incubation company, raised $35 million in a bridge round of funding. Investors include 8VC, JAZZ Venture Partners, PLUS Capital, Dr. Mark Hyman, Indra Nooyi (Former CEO of PepsiCo), Kurt Seidensticker (Founder of Vital Proteins).

- Almanac, a San Francisco-based documents startup, raised $34 million in funding. Tiger Global led the round and was joined by investors including Floodgate and General Catalyst.

- Sternum, an Israel-based internet of things company, raised $27 million in Series B funding. Spark Capital led the round and was joined by investors including Square Peg Capital, the Hinrich Foundation, and btov.

- Propel, a Santa Clara, Calif.-based product lifecycle management platform raised $20 million in Series C funding. Salesforce Ventures led, and was joined by Ankona Capital and insiders Norwest Venture Partners, Cloud Apps Capital Partners, Green D Ventures and TIFF. www.propelplm.com

- Stairwell, a Santa Clara, Calif.-based cybersecurity startup, raised $20 million co-led by Accel and Sequoia Capital. http://axios.link/uRcH

- Mutiny, an SF-based provider of website personalization tools for B2B brands, raised $18.5 million in Series A funding. Sequoia Capital led, and was joined by insiders Cowboy Ventures and Uncork Capital. http://axios.link/LDsn

- Crosschq, a San Francisco-based recruiting software company, raised $16.5 million in additional Series A funding. Tiger Global led the round and was joined by investors including GGV Capital, Bessemer Venture Partners, SAP.iO, rocketship.vc, and Jack Altman (CEO of Lattice).

- Altana AI, a New York-based supply chain A.I. startup, raised $15 million in Series A funding. GV (formerly Google Ventures) led the round and was joined by Floating Point, Ridgeline Partners,Amadeus Capital Partners, and Schematic Ventures.

- DeepFactor, a San Jose, Calif.-based application observability company, raised $15 million in Series A funding. Insight Partners led the round and was joined by investors including Emergent Ventures and Security Leadership Capital.

- Niio, a New York City-based digital art platform, raised $15 million. Investors include L Catterton, Entree Capital, Pico Partners, and Saga VC.

- Cloudsmith, a Northern Irish startup focused on software supply chain management, raised $15 million in Series A funding. Tiger Global led the round.

- Boom Entertainment, a remote creator of sports gaming apps such as NBC Sports Predictor, raised $15 million in Series A funding. Sands Capital led the round.

- Near Space Labs, a Brooklyn-based geospatial intelligence company, raised $13 million in Series A funding. Crosslink Capital led the round and was joined by investors including Toyota Ventures, Leadout Capital, and Wireframe Ventures.

- Blackbird.AI, a New York City-based startup focused on disinformation, raised $10 million in Series A funding. Dorilton Ventures led the round and was joined by investors including Generation Ventures, Trousdale Ventures, StartFast Ventures, and Richard Clarke (former chief counter-terrorism advisor for the National Security Council). 

- DoorLoop, a Miami-based rental property management software company, raised $10 million in seed funding. Investors included DoorLoop's co-founders Ori Tamuz, David Bitton, Adam Mait, Itay Gardi, Matt Cave, and Dean Brodesky along with Irving Weisselberger and Jason Morjain from Dragonfly Investments.

- Steward, a Portland-based funding platform for farms and food producers, raised $8.8 million in Series A funding. The Grantham Foundation, Tripple, and Ponderosa Ventures led the round.

- Rose, a New York City-based maker of a data marketplace, raised $5.5 million in seed funding. Portage Ventures led the round and was joined by investors including BoxGroup and Sound Ventures. 

- Xata.io, a Berlin-based database service for building serverless apps, raised $5 million in seed funding. Index Ventures led the round and was joined by investors including Operator Collective, SV Angel, X-Factor, and Firstminute.

- Loft Labs, a San Francisco-based platform for engineers to access Kubernetes, raised $4.6 million in seed funding. Fusion Fund led the round and was joined by investors including RTP Seed, Emergent Ventures, and Berkeley SkyDeck Fund.

- Bzaar, a U.S.-based marketplace connecting retailers to manufacturers in India, raised $4 million in seed funding. Canaan Partners led the round and was joined by investors including Binny Bansal (Flipkart co-founder), Sameer Nigam and Rahul Chari , Lee Fixel (Addition founder), and Ashish Gupta (Helion Ventures co-founder).

- Pronto, a Cupertino, Calif.-based maker collaboration tech, raised $4 million in seed funding. Work-Bench led the round and was joined by investors including Vertex Ventures US, Firebolt Ventures, and Tau Ventures. 

- FuzzyBot, a Los Angeles-based game development studio, raised $3.5 million in seed funding. BITKRAFT Ventures led the round and was joined by investors including Sisu Games Ventures and 1Up Ventures.

- Aircover, a San Mateo, Calif.-based platform for sales teams, raised $3 million in seed funding. Defy Partners led the round and was joined by investors including Firebolt Ventures, Flex Capital, and Ridge Ventures.

- RemNote, a note-taking app maker, raised $3 million. General Catalyst led the round. 

- Dogdrop, a Los Angeles-based dog care company, raised $2.9 million in funding led by Fuel Capital. Other investors include Mars PetCare, Muse Capital, Animal Capital, Gaingels, and The Helm.

- Cabinet, a New York City-based executive assistant software maker, raised $2.6 million. Harlem Capital led the round and was joined by investors including Good Friends Capital and Parade Ventures

. . .

Sustainability:

- Eat Just’s GOOD Meat division, a San Francisco-based maker of sustainable meats, raised $97 million in funding. Investors include UBS O’Connor, Graphene Ventures K3 Ventures, Resilience Reserve, and businessman Fernando Chico Pardo. 

- Ripple Foods, a Berkeley, Calif.-based plant-based dairy alternative, raised $60 million in Series E funding. Rage Capital, Ajax Strategies, and S2G Ventures invested along with OurCrowd, GV, Prelude Ventures, Euclidian, Fall Line Capital, and Tao Capital Partners.

- Iron Ox, a San Carlos, Calif.-based sustainability-focused agtech robotics maker, raised $53 million in Series C funding. Breakthrough Energy Ventures led the round. 

- EarthOptics, an Arlington, Va.-based agriculture tech company, raised $10.3 million in Series A funding. Leaps by Bayer led the round and was joined by investors including S2G Ventures, FHB Ventures, VTC Ventures, and Route 66 Ventures.

- Membrion, a Seattle-based maker of ceramic desalination membranes, raised $6 million in Series A funding. Bellingham Angel Investors led the round.

- Recycleye, a London-based maker of robotics to increase recycling, raised $4.7 million in seed funding. Promus Ventures led the round and was joined by investors including London's Playfair Capital, Creator Fund (part of Founders Factory), and MMC. 

- Agtonomy, a San Francisco-based agtech company, raised $4 million in seed funding. Investors include Grit Ventures, GV (formerly Google Ventures), and Village Global.


Acquisitions & PE: 

- F5 is acquiring Threat Stack, a Boston-based security and compliance startup, for $68 million. Threat Stack is backed by investors including Eight Roads, F-Prime Capital, and Scale Venture Partners.

- Walgreens Boots Alliance (Nasdaq: WBA) made a $970 million majority investment in Shields Health Solutions, a health system-owned specialty pharmacy care. 

- Project44 acquired Convey, an Austin-based last-mile delivery company, for $225 million. Silverton Partners and Techstars back Convey. 

-  JPMorgan Chase (NYSE: JPM) acquired Frank, a college planning platform that had raised over $20 million (plus got a PPP loan) from backers like Apollo Global Management, Chegg, Gaingels, Swat Equity Partners, GingerBread Capital and Aleph. http://axios.link/5FfO

- Procore (NYS:PCOR) will acquire Levelset, a New Orleans-based construction payments company backed by Brick & Mortar Ventures, Altos Ventures, S3 Ventures, and Horizons Ventures, for about $500 million in cash and stock.

- Sendinblue, backed by BlackRock, acquired Chatra, Metrilo, and PushOwl, three e-commerce marketing companies, for more than $47 million.

. . .

IPOs:

- Toast, a Boston-based restaurant management platform, raised $870 million in an IPO that values the company at nearly $20 billion. It priced at $40 per share, which was above its original and upwardly-revised ranges, and will list on the NYSE (TOST). Toast was valued by VCs at $5 billion heading into the pandemic, but in April 2020 laid off nearly half of its employees and furloughed another 12%. Toast reports a $235 million net loss on $704 million of revenue for the first half of 2021. It had raised around $900 million from firms like Tiger Global (12.8% pre-IPO stake), Bessemer Venture Partners (12.5%), T. Rowe Price (6%) and TCV (5.5%). "Toast says it's serving more than 48,000 restaurant locations as of the end of June, up from 27,000 in 2019. Annual recurring revenue surged 118% in the second quarter from a year earlier to $494 million. The bulk of Toast's revenue comes from what the company calls financial technology solutions, consisting primarily of fees paid by customers for payment transactions. Less than 10% comes from subscriptions." — Ari Levy, CNBC

- Remitly Global, a Seattle.-based remittance company, raised $523 million in an offering of 12 million shares priced at $43 per share—it had previously planned to price shares at up to $42 per share. The company posted $257 million in revenue in 2020 and a net loss of $32.6 million. PayU Global, Threshold Ventures, and Trilogy Equity Partners back the firm.

- EngageSmart, a Braintree, Mass.-based customer engagement software company, raised $378 million in an offering of 15 million shares priced at $26 per share—it had previously planned to price shares at up to $25. The company posted $146.6 million in revenue in 2020 and reported a net loss and comprehensive loss of $6.7 million. Summit Partners backs the firm, and General Atlantic holds a majority stake.

- Clearwater Analytics, a Boise, Idaho-based investment accounting and analytics software company, raised $540 million in an offering of 30 million shares priced at $18 per share. The company posted $203.3 million in revenue for 2020 and a loss of $44.2 million. Warburg Pincus, Dragoneer, Welsh Carson, and Permira back the firm.

- Cue Health, a San Diego, Calif.-based company that makes COVID tests, raised $200 million in an offering of 12.5 million shares priced at $16 per share. The company posted $15 million in revenue in 2020 and a loss of $19 million. ACME Capital, Decheng Capital, and Madrone Capital Partners back the firm.

- Sterling Check Corp., a New York City-based background check company, raised $329 million in an offering of 14 million shares priced at $23 per share—it had previously planned to price shares at up to $22. The company generated $454 million in revenue in 2020 and reported a net loss of $52.3 million. Goldman Sachs backs the firm.

- Sovos Brands, Louisville, Colo.-based consumer food brand company, know for Rao’s, raised $280 million in an offering of 23 million shares priced at $12 per share—it had previously planned to price shares at up to $16 per share. The company posted $560.1 million in revenue in 2020 and net income of $10.8 million. Advent International backs the firm.

- Argo Blockchain Plc., a London-based clean energy crypto mining company, raised $113 million in an offering of 7.5 million ADSs priced at $15 per ADS. The company posted $26.2 million in total revenue in 2020 and a $5.4 million in gross profit. The Amplify Transformational Data Sharing ETF (BLOK) is invested in the firm.

- Brilliant Earth Group, a Dover, Del.-based sustainable jewelry company, raised $100 million in an offering of 8 million shares priced at $12 per share—it had previously planned to sell 17 million shares priced at up to $16. The company posted $251.8 million in net sales in 2020 and net income of $21.6 million. Mainsail Partners backs the firm.

- Thorne HealthTech, a New York City-based personalized wellness company, raised $70 million in an offering of 7 million shares priced at $10 per share. The company posted net sales of $138.5 million in 2020 and a net loss of $4 million. Mitsui Group and Kirin Holdings back the firm.

- AvidXchange, a Charlotte, North Carolina-based accounts payable software company, filed for an initial public offering. The company posted $186 million in revenue in 2020 and reported a net loss of $101.2 million. Mastercard, Bain Capital Ventures, CDPQ, Temasek Holdings, and Capital Group mutual funds back the firm.

- GitLab, a global remote web-based development operations company, filed for an initial public offering. The company posted $152.2 million in revenue in the 12 months ending in Jan. 2021 and reported a net loss of $192.2 million. August Capital, Google Ventures, ICONIQ Capital, and Khosla Ventures back the firm.

- Enfusion, a Chicago-based investment management software company, filed for an initial public offering. The company reported revenue of $79.6 million in 2020 and net income of $4.1 million. Hillhouse Capital, FTV Capital, and ICONIQ Capital back the firm.

- Freshworks, a San Mateo, Calif.-based business software company, raised $1 billion in an offering of 29 million shares priced at $36 per share—it had previously planned to price shares at up to $34. The company posted $250 million in revenue in 2020 and reported a net loss of $57.3 million. Accel, CapitalG, Tiger Global, and Sequoia Capital back the firm.

- Olaplex Holdings, a Santa Barbara, Calif.-based hair care brand, plans to raise up to $107.2 million in an initial public offering of 67 million shares priced between $14 and $16 per share. The company reported net sales of $99.6 million in 2020 and a net loss of $22.4 million. Advent International and Mousse Partners back the firm.

- Allvue Systems Holdings, a Coral Gables, Florid.-based alternative investment management software company, plans to raise up to $290.7 million in an offering of 15.3 million shares priced between $17 and $19 per share. The company posted $111.3 million in revenue in 2020 and reported a net loss of $45.1 million. Vista Equity Partners backs the firm.

. . . 

SPACs:

- WeWork, a New York City-based coworking space, now plans to list on the New York Stock Exchange in late Oct. via its merger with BowX Acquisition Corp., a SPAC. The company had formerly expected to complete its merger by the end of Sept.

- Transfix, a New York-based digital freight platform, agreed to go public at an implied $1.1 billion valuation via G Squared Ascend (NYSE: GSQD), a SPAC formed by G Squared Capital. Transfix had raised over $140 million from firms like G Squared, Canvas Ventures, NEA, TriplePoint Venture Growth, Lerer Hippeau Ventures, Charge Ventures and Corigin Ventures. www.transfix.io


Funds:

- Addition, the VC firm led by Lee Fixel, is raising its third fund, per WSJ. http://axios.link/lRli

- Greylock raised $500 million for its first seed fund. Some chatter on the Twitters.

- Blumberg Capital raised $225 million for its fifth early-stage fund. http://axios.link/dQ4I

- Fifth Wall raised $140 million for a climate tech-focused VC fund.

- Illumina Ventures raised $325 million for its second fund. www.illuminaventures.com

- Steven Mnuchin, the former Treasury secretary under Trump, raised $2.5 billion for his private equity fund, Liberty Strategic Capital. Investors include the Saudi Arabia Public Investment Fund, per Bloomberg.


Final Numbers

Source: PitchBook survey of global institutional investors

Source: PitchBook. Data for U.S. geography through June 30, 2021.

Decarbonization is the key buzzword for climate tech investors and, increasingly, that's as much about ag-tech as it is about carbon capture.

  • I'd expect Tom Steyer to talk ag-tech during the Axios conversation.

  • Ag is a key target sector for Ara Partners, a Houston-based private equity firm focused on decarbonization. Ara today announced that it raised $1.1 billion for its second fund.

  • "Climate uncertainty" is discussed in today's press release for Blue White Robotics, an Israeli based "robot-as-a-service" startup for farms, which raised $37 million in Series B funding co-led by Insight Partners and Entrée Capital.