Sourcery (9/27-10/1)

Alloy, Betterment, EquityBee, Highnote, Zero Hash, Parafin, Angle, Eternal, Bubblehouse, Wayspring, Stellar Health, Found, Empathy, Vital, Benepass, Fanatics, Andela, Multiverse, Dice, Gem, Snyk...

Last Week (9/27-10/1):

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 Alloy, Betterment, EquityBee, Highnote, Zero Hash, Parafin, Angle, Eternal, Bubblehouse, Wayspring, Stellar Health, Found, Empathy, Vital, Benepass, Fanatics, Andela, Multiverse, Dice, Gem, Snyk, Materialize, Syndio, Avo, Tonic.ai, LeadIQ, Forta, Cocoon, Parade, Arize AI, Height, Fiveable, Ramen VR, Archera, Carrot, The Vendry, RunX, Avenue, Octopus Energy Group, Perfect Day, DroneSeed, Cleancult, Burro; Kanga, OpenBet; iFIT Health & Fitness, Winc

Final numbers on SPAC Slowdown at the bottom.


Deals 

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

Fintech:

- AlphaSense, a New York City-based financial data search company, raised $180 million in Series C funding. Investors included Viking Global and Goldman Sachs Asset Management.

- Alloy, a New York-based identity operating system for the financial sector, raised $100 million in Series C funding at a $1.35 billion valuation. Lightspeed Venture Partners led, and was joined by Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures. http://axios.link/mx1W

- Betterment, a New York City-based investing and savings app maker, raised $60 million in Series F funding, valuing it at $1.3 billion. Treasury led the round and was joined by investors including Kinnevik, Bessemer Venture Partners, Francisco Partners, Menlo Ventures, Anthemis Group, Globespan Capital Partners, Citi Ventures, Private Shares Fund, Aflac Ventures, and ID8 Investments.

- Buckle, a Jersey City-based financial services company, raised $60 million in Series B funding. Volery Capital Partners led the round and was joined by investors including Eldridge, Assurant Ventures, and HSCM Bermuda.

- EquityBee, a Palo Alto, Callif.-based stock options funding solution, raised $55 million in Series B funding. Group 11 led the round and was joined by investors including Battery Ventures, Latitude, Local Globe, Greenfield Partners, and ICON. 

- Highnote, a San Francisco-based card issuing company, raised $54 million in Seed and Series A funding. Oak HC/FT led the Series A and co-led the Seed with Costanoa Ventures. Other investors include XYZ, SVB Capital, and WestCap

- Zero Hash, a Chicago-based digital assets infrastructure startup, raised $35 million in Series C funding. Point72 Ventures led, and was joined by NYCA Partners and DriveWealth. http://axios.link/LjnP

- Parafin, a San Francisco-based fintech for small businesses, raised $34 million in seed and Series A funding. Ribbit Capital and Thrive Capital led the round.

- Sureify, a San Jose, Calif.-based insurtech platform, raised $15 million in Series C funding. Aspen Capital Group led the round.

- Flat.mx, a Mexican startup buying and remodeling properties, raised $10 million. Investors included Anthemis Group and 500 Startups.

- Prometheus Alternative Investments, a Los Angeles, Calif.-based fintech startup, raised $5 million in seed funding. 8VC/Joe Lonsdale led the round.

- Angle, a protocol for creating and trading stablecoins, raised $5 million in seed funding. Andreessen Horowitz led the round and was joined by investors including Fabric VC, Wintermute, Divergence Ventures, Global Founders Capital, Alven, Julien Bouteloup, and Frédéric Montagnon.

- Eternal, an NFT marketplace for Twitch clips, raised $4.5 million from backers like NFX, Mark Cuban, Arrington Capital and Coinbase Ventures. http://axios.link/EhhT

- Bubblehouse, a New York City-based NFT marketplace, raised $4 million in pre-seed funding. Third Kind VC led the round and was joined by investors including SV Angel, Watertower Ventures, and Soma Capital.

- Stake, a New York-based provider of flexible payment and loyalty plans for renters, raised $4 million in seed funding led by Shadow Ventures. www.stake.rent

- Builders Patch, a New York City-based construction financing startup, raised $2.3 million in seed funding. The Urban Innovation Fund led the round.

. . .

Care:

- Elligo Health Research, an Austin, Texas-based electronic medical records miner, raised $135 million in new funding. Morgan Stanley Expansion Capital and Ally Bridge co-led, and were joined by Norwest Venture Partners. Some proceeds were used to buy ClinEdge, a research practice management and clinical services organization. http://axios.link/xHqB

- Wayspring, a Nashville, Tenn.-based substance use disorder-focused company, raised $75 million from Valtruis, Centene Corporation, CareSource, and HLM Venture Partners.

- Membersy, an Austin-based digital health dentistry company, raised $66 million from Spectrum Equity

- Stellar Health, a New York City-based healthcare tech company, raised $60 million in Series B funding. General Atlantic led the round and was joined by investors including Point72 Ventures and Primary Venture Partners.

- NovaSignal, a Los Angeles-based company focused on brain health, raised $37 million in Series C1 funding. Alpha Edison and Reimagined Ventures led the round.

- Found, a weight management startup, raised $32 million in seed and Series A funding from GV, Define Ventures and founding investor Atomic. http://axios.link/34uj

- Empathy, a New York City and Israel-based startup for managing bereavement, raised $30 million in Series A funding. Entrée Capital led the round and was joined by investors including General Catalyst, and Aleph.

- MaestroQA, a New York City-based maker of support team software, raised $25 million in Series A funding. Base10 Partners led the round and was joined by investors including Talkdesk Ventures, Itai Tsiddon (lead investor at Frame.io), and Tokyo Black.

- Vital, an Atlanta-based A.I. patient experience software maker, raised $15 million in Series A funding. Transformation Capital led the round and was joined by investors including First Round Capital and Threshold Ventures. 

- Benepass, a New York City-based benefits company, raised $12 million in Series A funding. Threshold Ventures led the round and was joined by investors including Modern Venture Partners, Operator Partners, and Alumni Ventures Group.

- TailorMed Medical, a New York City-based healthcare fintech, raised an additional $5 million. Investors included BrightEdge, OSF Ventures, and the Citi Impact Fund.

. . . 

Future of Work:

- Fanatics Trading Cards company,  the trading cards business of the sports goods company, raised $350 million in Series A funding valuing itat $10.4 billion. Investors included Silver Lake, Insight Partners and Endeavor.

- Coalition, a San Francisco-based cyber insurance and security company, raised $205 million valuing it over $3.5 billion. Durable Capital, T. Rowe Price Associates, and Whale Rock Capital led the round.

- Andela, a New York City-based tech recruiting company, raised $200 million. SoftBank Group led the round valuing it at $1.5 billion.

- Multiverse, a U.K.-based apprenticeship startup, raised $130 million in Series C funding. D1 Capital Partners and BOND led the round.

- Dice, a London-based live event discovery and booking platform, raised $122 million in Series C funding at a $400 million valuation. SoftBank led, and was joined by Future Shape, Bslice, Xavier Niel, Mirabaud, Cassius and Evolution. http://axios.link/CWLF

- Gem, a San Francisco-based recruiting platform, has raised $100M in Series C funding at a $1.2 billion valuation. The round was led by ICONIQ with participation from Accel, Greylock, Sapphire Ventures, and Meritech Capital.

- Totango, a customer management software company,  raised $100 million in Series D funding. Great Hill  Partners led the round and was joined by investors including BGV, Pitango Ventures, and Canvas.

- Snyk, a Boston-based developer security company, raised $75 million. Investors include Atlassian Ventures and Salesforce Ventures. The deal values the company at $8.6 billion.

- Materialize, a New York City-based streaming database company, raised $60 million in Series C funding. Logan Bartlett from Redpoint Ventures led the round and was joined by investors including Kleiner Perkins and Lightspeed Venture Partners.

- Sisu, a San Francisco-based maker of analytics and decision-making software, raised $62 million in Series C funding. Green Bay Ventures led the round and was joined by investors including a16z, NEA, and Geodesic Capital. 

- Syndio, a Seattle-based workplace analytics company focused on equal pay, raised $50 million in Series C funding. Emerson Collective and Bessemer Venture Partners led the round and were joined by investors including Voyager Capital.

- Avo, a New York City and Israel-based same-day delivery company, raised $45 million Series B funding. Insight Partners led the round and was joined by investors including Kleiner Perkins and JLL Spark.

- Reachdesk, a London-based corporate gifting company, raised $43 million in Series B funding. Highland Europe led the round and was joined by investors including Highland Capital, HubSpot Ventures, and RLC Ventures. 

- Acceldata, a San Jose, Calif.-based data monitoring company, raised $35 million. Insight Partners  led the round and was joined by investors including March Capital, Lightspeed, Sorenson Ventures, and Emergent Ventures. 

- Tonic.ai, a San Francisco-based company maker of fake data for testing, raised $35 million in Series B funding. Insight Partners led the round and was joined by investors including GGV Capital, Bloomberg Beta, Octave, Heavybit, and Silicon Valley CISO Investments.

- Civis Analytics, a Chicago-based analytics company, raised $30.7 million in combined equity in debt as part of its Series B funding. Investors included Alumni Ventures, Drive Capital, Verizon Ventures, Eric Schmidt (former CEO of Alphabet), and Silicon Valley Bank.

- LeadIQ, a San Francisco-based lead and sales prospecting company, raised $30 million in Series B funding. Cathay Innovation led the round and was joined by investors including  Eight Roads Ventures, Alumni Ventures, LAUNCH Fund, Draper Associates, Fresco Capital, and Strong Ventures.

- Forta, a remote-work decentralized security network from OpenZeppelin, raised $23 million. Andreessen Horowitz led the round and was joined by investors including Blockchain Capital, Coinbase Ventures, Placeholder, Blueyard, True Ventures, DCG, and SBC 10x.

- Cocoon, a San Francisco-based employee leave platform, raised $20 million in Series A funding. Index Ventures led the round and was joined by investors including First Round Capital, SemperVirens, XYZ Venture Capital, Magnify Ventures, and Springbank Collective.

- Parade, a New York City-based underwear brand raised $20 million in Series B funding. Stripes led the round.

- Arize AI, a Mill Valley, Calif-based machine learning startup, raised $19 million in Series A funding. Battery Ventures led the round and was joined by investors including Foundation Capital, Trinity Ventures, The House Fund, and Swift Ventures

- Height, a New York City-based collaboration platform, raised $14 million in Series A funding. Redpoint Ventures led the round.

- Altada Technology Solutions, an A.I. company with offices in San Francisco and New York, raised $11.5 million. Investors include Rocktop Partners, Elkstone Partners, and Enterprise Ireland.  

- Thankful, an LA-based customer service platform, raised $12 million in Series A funding. Alpha Edison led, and was joined by Bonfire, Ten-One-Ten, Greycroft, Omega and Miramar. http://axios.link/oEcb

- Fiveable, a Milwaukee, Wis.-based social learning platform, raised $10 million in Series A funding. Union Square Ventures led the round and was joined by investors including Owl Ventures and Progression Fund.

- Appwrite, an Israel-based open-source platform for developers, raised $10 million in two seed funding rounds. Ibex Investors and Seed Camp led one round while Bessemer Venture Partners and Flybridge Capital Partners led the other.

- Ramen VR, a San Francisco-based maker of an online massive multiplayer VR game, raised $10 million in Series A funding. Makers Fund, Anthos Capital, and Dune Ventures led the round.

- Archera (fka Reserved.ai), a Seattle-based cloud resource automation startup, raised $7 million in Series A funding co-led by Ridge Ventures and Amplify Partners. www.archera.ai

-  Carrot, an e-commerce shopping cart analysis plug-in, raised $5.5 million in seed funding from Kindred Ventures, M13, Abstract Ventures, Designer Fund, Combine, Paris Hilton, Scott Belsky, Riverpark and NextView Ventures. http://axios.link/HuCs

- The Vendry, a New York City-based marketplace for event planners, raised $6.5 million in seed funding. Peter Boyce, Founder of Stellation Capital, led the round and was joined by investors including Founder Collective, Primary Ventures, WGI Group, Leadout Capital, Operator Partners, and Brilliant Friends.

- Visor, a New York-based connected spreadsheet for internal app building, raised $5 million in seed funding. General Catalyst led, and was joined by Bessemer Venture Partners, Craft Ventures, Converge Venture Partners and M13 Ventures. www.visor.us

- EdSights, a New York City-based education-focused conversational A.I. company, raised $5 million in Series A funding. Album VC led the round and was joined by investors including Lakehouse, Good Friends, Chegg CEO Dan Rosensweig, and GSV Ventures’ Deborah Quazzo.

- RunX, a San Francisco-based cloud infrastructure deployment startup, raised $4.1 million in seed funding. Unusual Ventures led the round.

- Avenue, a maker of a team monitoring platform for operations, raised $4 million in seed funding. Accel led the round.

- Live Tinted, a West Hollywood, Calif.-based beauty brand, raised $3 million in seed funding. Montage Ventures led, and was joined by Halogen Ventures, Fearless Fund and Curate Capital. www.livetinted.com

- Akkio, a Cambridge, Mass.-based A.I. platform for non-data scientists, raised $3 million in seed funding. Bain Capital Ventures led the round.

- Dataships, a Marin, Calif.-based platform for data privacy compliance, raised $3 million in seed funding. The Urban Innovation Fund and Lavrock Ventures co-led the round.

- CodeSee, a San Francisco codebase visualization tool, raised $3 million in seed funding. boldstart ventures and Uncork Capital led the round and were joined by investors including DCVC, Precursor Ventures, and Salesforce Ventures.

- Omneky, a San Francisco-based A.I. company for creating personalized ads, raised $2.5 million in seed funding. Village Global and Hyphen Capital invested.

. . .

Sustainability:

- Octopus Energy Group, a London-based renewable energy company, raised $600 million from Generation Investment Management and $55 million from Origin Energy, valuing it at up to $4.6 billion.

- Perfect Day, a Berkeley, Calif.-based animal-free milk protein maker, raised $350 million in Series D funding. Temasek and Canada Pension Plan Investment Board led the round and were joined by investors including Horizons Ventures, SK, and Bob Iger. A source familiar with the deal values it at $1.5 billion.

- DroneSeed, a Seattle-based reforestation startup, raised $36 million in Series A funding. Social Capital and Seven Seven Six led the round. It also acquired Silvaseed, a 130-year-old forestry company.

- Cleancult, a New York City-based cleaning brand focused on plant-based ingredients, raised $25 million in Series B funding. Reynolds Channel and Anchor Capital led the round.

- Burro, a Philadelphia-based agriculture autonomy company, raised $10.9 million in Series A. funding. S2G Ventures and Toyota Ventures led the round and was joined by investors including F-Prime Capital and the Cibus Enterprise Fund.


Acquisitions & PE: 

- The Blackstone Group agreed to sell the Cosmopolitan hotel and casino in Las Vegas for $5.65 billion, including operations to MGM Resorts International (NYSE: MGM) for $1.63 billion. http://axios.link/VuIV

- Riot Games acquired the team from Kanga, a New York City-based maker of content and social wagering for esports franchises and streamers. Financial terms weren't disclosed.

- Endeavor acquired OpenBet, a London-based betting software maker, from Scientific Games. The deal is valued at about $1.2 billion.

. . .

IPOs:

- iFIT Health & Fitness, a Logan, Utah-based connected fitness company whose brands include NordicTrack, set IPO terms to 30.8 million shares at $18-$21. It would have a $6.4 billion fully diluted value, were it to price in the middle, plans to list on the Nasdaq (IFIT) and reports a $517 million net loss on $1.7 billion in revenue for the first half of 2021. Backers include Pamplona Capital Management and L Catterton. http://axios.link/RI1e

-​​​​ Winc, a Santa Monica, Calif.-based wine club membership company, filed for an initial public offering. The company posted $65 million in net revenue in 2020 and reported a $7 million net loss. Bessemer Venture Partners, Shining Capital, and Cool Japan Fund back the firm.


Funds:

- Apax Partners, a London-based private equity firm, closed Apax Digital Fund II with $1.75 billion.

- Acrew Capital, a Palo Alto, Calif.-based venture capital firm, raised $680 million across two new funds.

- AlleyCorp, a New York City-based healthcare fund and incubator, will deploy $100 million to NYC-based digital health startups. 


Final Numbers: SPAC slowdown

Source: PitchBook. Data for U.S. listings, through Sept. 20, 2021.