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Scott Mayle 2021-05-17
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The development comes after it acquired Singapore-based fintech platform Fave in a US$45 million deal.
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FinTech Buzz 2020-05-21
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Brex, the financial technology company reimagining financial systems for growing companies, today announced that an investment group including Lone Pine Capital as well as a group of existing investors led by DST has invested an additional $150 million in the company.

The investment represents a slight premium to Brex’s post money valuation.This fresh capital strengthens the Brex balance sheet and bolsters Brex’s standing as the leading financial services provider to technology, ecommerce, life sciences and other businesses.

The equity proceeds also enhance Brex’s position across all of its lenders and financial partners.Fintech News“We’re glad to have additional capital at a time when customers need us to be focused 100% on providing services and solutions to help them navigate these challenging economic times,” said Henrique Dubugras, Co-Founder and Co-CEO of Brex.Brex is specifically using the proceeds to further invest across engineering and product and design functions in order to improve expense management, procurement and software tooling for its customers.

The company will use a combination of organic efforts as well as small acquisitions to supplement its hiring and product development efforts.“We are excited to have a front row seat as Brex continues to revolutionize financial services,” said David Craver, Portfolio Manager and Managing Director of Lone Pine Capital.

“With one of the strongest executive teams in fintech, we look forward to seeing Brex continue to provide support and innovative solutions to its customers through this dynamic and unprecedented business environment.”Brex has spent the last few months adapting its business for the current economic conditions and public health environment.

Brex introduced a new rewards program to better serve customers that have moved to remote work, added contactless payment support for Apple Pay and Google Pay and helped its customers obtain millions of dollars in CARES Act Payment Protection Program loans.

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Johnny Ament 2018-09-21

CapitalG, the growth equity arm of Alphabet, has led the $185 million round in Convoy, its first investment in the Seattle-based tech-enabled trucking network.

The round brings Convoy’s total raised to $265 million and values the company at $1 billion.

New investors T. Rowe Price and Lone Pine Capital participated in the financing alongside existing investors.

Convoy has long been backed by Greylock Partners, which led the startup’s Series A in 2015.

Y Combinator is also a backer.

In an unusual move last year, Y Combinator led a $62 million round in Convoy in what was the first time the accelerator deployed capital from its continuity fund into a late-stage company that was not a YC graduate.

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Anthony Couture 2019-05-22
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Money transfer service Transferwise today announced the completion of a $292m (£230m) share sale, making it Europe’s most valuable fintech company at $3.5bn.

Read more: UK named world's top fintech hub as startups rake in £4.5bn

Existing investors Andreessen Horowitz and Baillie Gifford expanded their holdings in Transferwise, while investment was also provided from funds managed by Black Rock.

The funding round was led by growth capital investors Lead Edge Capital, Lone Pine Capital and Vitruvian Partners, Transferwise said.

To date, the company has raised $689m in primary and secondary funding as it resists going public.

Transferwise, founded by Estonians Taavet Hinrikus and Kristo Kaarmann in 2011, now serves 5m customers worldwide, processing £4bn every month.

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sonia mehta 2021-10-11
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In September 2021, Australia-based FinTech platform, Airwallex, raised US$200 million in its Series E funding round at a valuation of US$4 billion.

The company, primarily involved in business banking services, raised the fund from Lone Pine Capital, G Squared, Vetamer Capital Management, 1835i Ventures, Salesforce Ventures, DST Global, and Sequoia Capital.

According to the company, the fund will be used for global expansion, product development, and strengthening its team in the sales and commercial divisions.The funding round brings the total capital raised by the firm to US$700 million, which also includes a US$100 million Series D funding raised in March 2021.The firm attributes the quick succession of funding and rising valuation to the vertically integrated strategy followed by Airwallex.

Notably, the vertically integrated strategy as described by the company consists of two parts.

First, the firm has built all the infrastructure needed for the business banking services, which it provides directly to the SME businesses.

Second, the firm has packaged up the infrastructure into a set of APIs used by different companies to offer financial services to their customers without actually having to build those services themselves.In September 2021, the firm also secured a money services business (MSB) license from Bank Negara Malaysia.

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Jerrell Lawson 2019-05-17
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Away, an online luggage seller, announced Wednesday it raised $100 million at $1.4 valuation just three years after it was founded by Jen Rubio and Steph Korey.

Away is the most recent female-founded company that has been valued at or above $1 billion in recent months, including Emily Weiss's skincare and makeup company Glossier and Jennifer Hyman's clothing rental company Rent the Runway.

According to Rubio, the new funding will help her team expand into apparel, accessories, and wellness products.

The pair developed a suitcase with a battery to charge mobile devices, and launched a website to sell it.

Three years later, Away is valued at $1.4 billion, thanks to a $100 million funding round from Wellington Management Company LLP, Baillie Gifford, Lone Pine Capital, and Global Founders Capital that was announced this week.

Now, Rubio, Away's president and chief brand officer, says that the company has loftier plans in mind.

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James Williams 2019-11-13

Convoy, the digital freight network that connects truckers with shippers, has raised $400 million in a Series D funding round as it aims to scale its business amid an increasingly competitive market.

The funding round brings Convoy’s post-money valuation to $2.75 billion.

The round was co-led by Generation Investment Management and previous Convoy investor T. Rowe Price Associates.

Asset management firm Baillie Gifford, which has fondness for pre-IPO tech companies, Fidelity and Durable Capital Partners as well as Series C investors CapitalG and Lone Pine Capital also participated in the round.

Convoy has managed to attract a slew of high-profile investors— and their capital — such as Jeff Bezos, Salesforce CEO Marc Benioff and even U2’s Bono and the Edge.

In the four years since its founding, Convoy has raised a total of more than $668 million.

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Anthony Couture 2017-11-09
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Electric cars are set to become an increasingly lucrative investment target, if they continuing enjoying the strong support of global initiatives to lower emissions and put clearer vehicles on roads.

So expect more funding like the reported $1 billion that Niobium’s (formerly NextEV) has raised from a host of investors led by Tencent, per Reuters.

The Chinese carmaker has already set a launch window for its first all-electric car, a seven-seater SUV which is going to be available in the middle of next month.

Nio is hoping to then also bring an autonomous EV to U.S. shores by 2020, and it raised $600 million in a round that closed just this past March.

The Shanghai based company added some new investors during this round, according to Reuters, including U.S. hedge fund Lone Pine Capital, and the round values the young automaker at around $5 billion.

Niobium’s is working with Chinese automaker Chongqing Changan Automobile on a joint venture focused on development and sales of EVs, too.

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Blaine Pilgrim 2019-05-21
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Money transfer service TransferWise is now valued at $3.5 billion, a figure it said it attained following a $292 million secondary funding round.

The round, which saw no new shares issued or capital raised, is essentially a way for early investors and employees to cash in by selling some of their stock to newer investors.

According to the company, Lead Edge Capital, Lone Pine Capital, and Vitruvian Partners led the stock purchase, while existing investors Andreessen Horowitz and Baillie Gifford also expanded their stake in the London-based company, alongside funds managed by BlackRock.

For the uninitiated, TransferWise is a major player in the fintech realm, with a peer-to-peer international money transfer platform that helps consumers bypass banks to cut down on foreign exchange rates.

The company also offers so-called “borderless” accounts for businesses and consumers, allowing anyone to easily gain access to a local bank account in various markets around the world.

In fact, TransferWise said that its own investors used TransferWise for Business to save some of the fees while settling the $292 million financing.

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Albert Hummel 2019-11-13
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On-demand trucking and freight marketplace Convoy has raised $400 million in a series D round of funding co-led by Generation Investment Management and T. Rowe Price Associates, with participation from Alphabet’s CapitalG, Lone Pine Capital, Baillie Gifford, Fidelity Management and Research, and Durable Capital Partners.

Other illustrious previous investors include Salesforce CEO Marc Benioff, Dropbox CEO Drew Houston, Instagram cofounder Kevin Systrom, Jeff Bezos’ Bezos Expeditions, Y Combinator, Greylock Partners, and — because why not — Bono and The Edge from U2.

By way of a quick recap, Convoy connects shippers with carriers, matching supply with demand to ensure trucks aren’t traveling long distances with empty trailers.

It’s all about optimizing and streamlining cargo loads — like Uber for trucks.

Countless other trucking startups have raked in big venture capital (VC) bucks — San Francisco-based KeepTruckin recently secured $149 million in funding from a host of big-name investors, including Alphabet’s other investment arm GV, while Next Trucking closed a $97 million investment.

“We built this company from the beginning with a focus on creating a more efficient model for connecting shippers and truckers,” explained Convoy CEO and cofounder Dan Lewis.

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Seth Logan 2019-04-16
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Outreach, a Seattle, Washington-based software startup developing a semiautomated sales engagement platform, today announced that it’s raised $114 million in a series E funding round led by private investment manager Lone Pine Capital, with participation from a wealth of new and existing investors including Meritech Capital Partners, Lemonade Capital, DFJ Growth, Four Rivers Group, Mayfield, Microsoft Ventures, Sapphire Ventures, Spark Capital, and Trinity Ventures.

It values the company at a whopping $1.1 billion and follows a $65 million series D venture capital round in 2018, bringing Outreach’s total funding to date to $239 million.

CEO Manny Medina said the cash infusion will allow it to double its machine learning team, expand its international footprint, and further grow its partner ecosystem, adding that he expects Outreach to reach an annualized sales rate of $100 million within the next year.

“That’s right: Outreach is officially a ‘unicorn’ and the only one in the rapidly growing sales engagement space,” said Medina, a former Microsoft director.

“Through market education and creating a product that delivers on the promise of an inherently better workflow for all customer-facing teams we have built the sales engagement category from the ground up and are uniquely positioned to leverage this momentum across the entire enterprise.

This funding will enable us to continue innovating directly for the end user, using the latest in machine learning and natural language processing to deliver a platform that is easy to use and provides immediate value through every action.”

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Kyle Patterson 2020-12-22
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The company is the first in the country to attain unicorn status, and it claims to serve over 150,000 merchants across Asia and the Middle East.
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George Comer 2020-07-29
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TransferWise founders Kristo Kaarmann and Taavet Hinrikus

  • London-based startup TransferWise has boosted its valuation to $5 billion after concluding a $319 million secondary share sale.
  • New investor D1 Capital Partners and existing shareholder Lone Pine Capital bought into the firm while existing shareholders Baillie Gifford, Fidelity Investments and LocalGlobe expanded their holdings in the fintech. 
  • "We're very happy to not have to raise every two to three years to keep the business alive," Matt Briers, TransferWise CFO told Business Insider in an interview. "It's a nice position to be in — we're not living hand-to-mouth, we're profitable, not solving for a short term valuation, and the most important thing for us and investors is a sustainable, durable business."
  • Visit Business Insider's homepage for more stories. 

London-based money transfer company TransferWise has boosted its valuation to $5 billion after concluding a $319 million secondary share sale.

The new valuation maintains the company's position as one of Europe's most valuable fintech startups and the secondary trade serves to diversify its funding pool.

The company allows customers to send and receive funds in multiple currencies all at real-time exchange rates, and recently expanded its US presence. 

New investors D1 Capital Partners and existing shareholder Lone Pine Capital bought into the firm while existing shareholders Baillie Gifford, Fidelity Investments and LocalGlobe expanded their holdings in the fintech. Vulcan Capital also bought in.

Secondary share sales are uncommon in Europe and similar deals, which involve existing shareholders selling off their shares to other buyers, are not generally publicized. The transaction gives liquidity to early backers and employees, several of whom may now be extremely wealthy.

TransferWise has now attracted some $1.92 billion in primary and secondary transactions following a similar deal last year

The firm's chief financial officer, Matt Briers, told Business Insider the move was designed to help the company work with investors who had five to ten year horizons and reward employees. 

"We're very happy to not have to raise every two to three years to keep the business alive," Briers said.  "It's a nice position to be in; we're not living hand-to-mouth, we're profitable, not solving for a short term valuation, and the most important thing for us and investors is a sustainable, durable business."

Investors view the company as ripe for a float, and it now has the freedom to choose when it goes public.

Some companies can feel pressure to list or sell if their backers want liquidity. Cofounder Taavet Hinrikus previously told the Financial Times that he believes TransferWise will go public at some point, but the deal means there's no rush.

The company now serves 8 million customers worldwide, processing £4 billion in cross-border payments alone every month and claims to be adding 10,000 business customers a month via its integrations with other startups, such as Monzo.

"There's lots of talk about unicorns, but in reality we're building something even more rare," Kristo Käärmann, CEO and cofounder, TransferWise said. "Nine years in, we're saving our customers £1 billion in hidden fees every year. That's a start, but only a small dent in what banks collect. We're still at the beginning of a long journey, and we've built a financially sustainable company to get there."

SEE ALSO: Here's an exclusive look at the pitch deck fintech ComplyAdvantage used to raise $50 million from a SpaceX backer

Join the conversation about this story »

NOW WATCH: How waste is dealt with on the world's largest cruise ship

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James Howard 2020-07-29
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Eugenio Pace

While venture capital deals have slowed during the economic downtown, the pandemic is actually making it easier for some startups to raise money. Enterprise technology firms, like cybersecurity software startup Auth0, are finding themselves beneficiaries of the shift to remote work.

"There are some tailwinds for us because of the pandemic," said Eugenio Pace, CEO of Auth0, which raised $120 million at a nearly $2 billion valuation in July. "It's very unfortunate that it's happening, but it's happening, and one of the side effects is that all of these projects of improving the digital experience of customers have accelerated."

Investors have predicted that funding will be harder to come by for startups over the next year, but the enterprise IT industry is expected to be more insulated from that trend — particularly those startups focused on making remote work possible.

Bill Richter, CEO of hybrid cloud storage startup Qumulo, said his company's recent $125 million funding round, which doubled its valuation, is an example that there will always be capital available to startups that are solving real problems, regardless of the economic cycle.

"These global crises create a lot of change," said Richter, who's also a venture partner at Seattle's Madrona Venture Group. "And any time there's change, there ends up being a set of winners and losers through that process."

Business Insider compiled a list of 19 enterprise technology startups that have raised funding amid the pandemic using data from venture capital database PitchBook. We targeted startups that have disclosed valuations and closed a funding round since March, and defined "enterprise technology" fairly broadly as startups that sell technology to other companies. Collectively, they raised around $3.6 billion. 

Funding itself isn't always a sign that a startup is thriving, though. At least one startup on this list raised at a lower valuation, while others had a flat valuation between rounds. Some did not respond to whether they raised money at a higher valuation than previous rounds, as noted below.

SEE ALSO: Meet the 54 most valuable enterprise tech startups, worth as much as $216 billion collectively

Stripe: $600 million in April

Headquarters: San Francisco, California

Year founded: 2009

Valuation: $36 billion

Total raised to date: $1.89 billion as of April 2020

Latest round: Series G

Investors: Sequoia Capital, General Catalyst, Novator Partners, Andreessen Horowitz, and GV

Employees: 2,500 as of May 2020

What it does: Stripe builds a digital payments platform used by companies including Airbnb, Amazon, and Target. Cofounder and president John Collison recently spoke to Business Insider about raising $600 million amid the pandemic, and signing new customers like Mattel and NBC.

The $600 million Stripe raised in April was an extension of the Series G round that it began in September 2019 with $250 million, bringing the total raised to $850 million. Stripe confirmed the April extension was raised at the same valuation as the September funding.

Source: PitchBook



Samsara: $400 million in May (down-round)

Headquarters: San Francisco, California

Year founded: 2015

Valuation: $5.4 billion

Total raised to date: $930 million

Latest round: Series F

Investors: Warburg Pincus, Sands Capital Management, General Atlantic, General Catalyst, Andreessen Horowitz, AllianceBernstein, Tiger Global Management, Dragoneer Investment Group, and Franklin Templeton Investments United Kingdom.

Employees: 1,350 as of July 2020

What it does: Samsara builds sensors and cloud software for so-called "Internet of Things" connected devices and applications. While the startup is still one of the most valuable in the enterprise technology market, it's faced recent challenges.

Samsara laid off 300 employees and raised $400 million at a lower valuation in May, citing the economic crisis caused by the pandemic (the company was previously valued at more than $6 billion). A spokesperson said the latest round would "ensure we can operate sustainably and reach full profitability, even under the worst case economic conditions or if a recession lasts for years."

PitchBook lists Samara's Series F as $700 million, but that's because April's funding was an extension of the round in which it initially raised $300 million back in September.

Source: PitchBook



Cohesity: $250 million in April

Headquarters: San Jose, California

Year founded: 2013

Valuation: $2.5 billion

Total raised: $661 million as of April 2020

Latest round: Series E

Investors: Oryx Ventures, Hewlett Packard Pathfinder, Sozo Ventures, Private Access Network, Baillie Gifford, SoftBank Investment Advisers, Wing Venture Capital, Greenspring Associates, Foundation Capital, DFJ Growth, Sequoia Capital, Cisco Investments

Employees: 1,300 as of May 2020

What it does: Cohesity builds a platform for storing and managing company data. The company did not respond to a request about whether its latest round was raised at a higher valuation than its previous round, or when it began raising the funding.

Source: PitchBook



Confluent: $250 million in April

Headquarters: Mountain View, California

Year founded: 2014

Valuation: $4.5 billion 

Total raised: $456 million 

Latest round: Series E

Investors: Franklin Templeton Investments, Altimeter Capital Management, Coatue Management, Index Ventures, Sequoia Capital

Employees: 1,000

What it does: Known for what industry insiders refers to as "event streaming" software, Confluent pulls in real-time data from various silos across an organization into a central location so it can be used to inform decision-making. For example, a customer could tap its technology to monitor the success of an advertising campaign by analyzing sources like social media posts and inventory numbers. It's based upon Apache Kafkaan, an open-source platform that CEO Jay Kreps helped create while at LinkedIn.  

Source: PitchBook



Carta: $210 million in June

Headquarters: Palo Alto, California 

Year founded: 2014

Valuation: $3.28 billion 

Total raised: $629 million 

Latest round: Series F

Investors: Tribe Capital, Finsight Ventures, Premji Invest, Lightspeed Venture Partners

Employees: 600

What it does: Carta helps startups and their employees manage equity, but is striving to create what CEO Henry Ward calls a "stock market for private companies." The platform is used by over 11,000 companies and 143 venture capital firms, according to Carta. It laid off 161 people in April. 

The company has recently faced scrutiny after a lawsuit accused it of underpaying and retaliating against its sole female executive. 

Source: PitchBook

 



QuantumScape: $200 million in June

Headquarters: San Jose, California

Year founded: 2010

Valuation: $2.3 billion

Total raised to date: $196.27 million as of June 2020

Latest round: Series F

Investors: Breakthrough Energy Ventures, Volkswagen, Capricorn Investment Group 

Employees: 34 as of October 2019

What it does: QuantumScape develops non-lithium battery technology that increases longevity and shortens charging times for electric cars. The German carmaker Volkswagen recently increased its stake in the company by $200 million.

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook



Asapp: $185 million in May

Headquarters: New York, New York

Year founded: 2014

Valuation: $835 million

Total raised: $260 million 

Latest round: Series B

Investors: Joe Tucci, Telstra Ventures, Vast Ventures, March Capital Partners, HOF Capital, John Chambers, Euclidean Capital, Emergence Capital Partners, John Doerr

Employees: 337

What it does: ASAPP helps corporations manage their call centers by providing agents with automated responses, a full history of every customer interaction with the company, regardless of medium, and other tools.  

Source: PitchBook

 

 



Postman: $150 million in June

Headquarters: San Francisco, California

Year founded: 2014

Valuation: $2 billion

Total raised: $208 million as of June 2020

Latest round: Series E

Investors: Franklin Templeton Investments, Altimeter Capital Management, Coatue Management, Index Ventures, and Sequoia Capital.

Employees: 250 as of June 2020

What it does: Postman builds a collaboration platform offering application programming interfaces (APIs). Microsoft, Twitter, and Cisco all use the platform. 

The round began in the second quarter of this year, when Postman CEO and cofounder Abhinav Asthana was approached by investors, according to the company, and the round stepped up its valuation.

Source: PitchBook



Procore: $150 million in April

Headquarters: Carpinteria, California

Year founded: 2003

Valuation: $4.85 billion

Total raised: $640 million as of April 2020

Latest round: Series I

Investors: D1 Capital Partners and Bessemer Venture Partners

Employees: 1,911 as of December 2019

What it does: Procore builds construction management software intended to simplify everyday tasks for construction workers, like creating job site schedules. Procore had plans to go public, according to Bloomberg, but has postponed those plans and instead completed a $150 million funding round in April.

A spokesperson said Procore raised the funding at the same valuation as its last funding round in late 2019.

Source: PitchBook



Brex: $150 million in May

Headquarters: San Francisco, California 

Year founded: 2017

Valuation: $2.75 billion

Total raised: $465 million 

Latest round: Series C

Investors: Lone Pine Capital, Next Play Ventures, DST Global

Employees: Around 400

What it does: Brex offers a credit card tailored for startups that may face difficulty getting credit from traditional banks. And unlike most legacy financial institutions that lend based on credit history, the company bases its decision on factors like who is investing in the firm and prior spending habits. 

Source: PitchBook



Tanium: $150 million in June

Headquarters: Emeryville, California

Year founded: 2007

Valuation: $9 billion

Total raised: $837.08 million as of June 2020

Latest round: Series H

Investors: Salesforce Ventures

Employees: 1,500 as of April 2020

What it does: Tanium is a cybersecurity firm that works to make companies more secure by protecting so-called "endpoints," like desktops, laptops, and mobile devices. Salesforce signed a deal with Tanium in February to keep company information secure during the shift to remote work, which raised Tanium's valuation to $9 billion.

A spokesperson said there was no start date to the funding round because the partnership with Salesforce evolved over time.

Source: PitchBook



Qumulo: $125 million in July

Headquarters: Seattle, Washington

Year founded: 2012

Valuation: $1.2 billion

Total raised: $363.01 million as of July 2020

Latest round: Series E

Investors: Kleiner Perkins, BlackRock Private Equity Partners, Madrona Venture Group, Amity Ventures, and Highland Capital Partners.

Employees: 315 as of July 2020

What it does: Qumulo is a hybrid cloud storage startup that helps customers manage data inside their own data centers and the cloud. Qumulo more than doubled its valuation in a recent funding round and told Business Insider it shows how investors are betting big on digital transformation amid the pandemic.

The round started in April and closed in July.

Source: PitchBook



Podium: $125 million in April

Headquarters: Lehi, Utah

Year founded: 2014

Valuation: $1.45 billion

Total raised: $221.89 million as of April 2020

Latest round: Series C

Investors: Album VC, Summit Partners, Recruit Strategic Partners, Sapphire Ventures, Y Combinator, Alkeon Capital Management, Accel, GV, and IVP.

Employees: 750 employees as of June 2020

What it does: Podium builds a platform to makes it easier for a local business to communicate with customers, via email or text, as Business Insider's Ben Pimentel writes. It can help companies ask customers to post a review on most of the popular review sites, such as Google.

Source: PitchBook and CB Insights



States Title: $123 million in May

Headquarters: San Francisco, California

Year founded: 2016

Valuation: $623 million

Total raised to date: $158.22 million as of May 2020

Latest round: Series C

Investors: Horizons Ventures, Bloomberg Beta, Hudson Structured Capital Management, Fifth Wall, Greenspring Associates, Assurant Growth Investing, Scor, Foundation Capital, Lennar, Eminence Capital 

Employees: 1,000 as of May 2020

What it does: States Title is an insur-tech platform to make the process of buying and selling homes more efficient through machine learning. In a press release, CEO Max Simkoff said, "We are witnessing an unprecedented shift in the structural foundation of the real estate industry, and this new funding will allow States Title to provide enhanced support for lenders, real estate agents, and homeowners."

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook



NS8: $123 million in June

Headquarters: San Francisco, California

Year founded: 2016

Valuation: $436.38 million

Total raised to date: $158.22 million as of May 2020

Latest round: Series A

Investors: Lightspeed Venture Partners, AXA Venture Partners 

Employees: 225 as of July 2020

What it does: NS8 is a fraud prevention platform that works with ecommerce businesses. In a press release about the new round of funding, NS8 said its year-over-year growth was 200%. NS8 declined to disclose information about its valuation prior to this Series A round.

Source: PitchBook



Auth0: $120 million in July

Headquarters: Bellevue, Washington

Year founded: 2013

Valuation: $1.92 billion

Total raised: $333.47 million as of July 2020

Latest round: Series F

Investors: Telstra Ventures, Trinity Ventures, Sapphire Ventures, Salesforce Ventures, Bessemer Venture Partners, Meritech Capital Partners, K9 Ventures, DTCP, and World Innovation Lab

Employees: 700 as of July 2020

What it does: Auth0 is a cybersecurity software startup that manages user authentication and secures the login pages for large consumer and enterprise businesses. The company funding round started and closed within the month of June, a spokesperson said.

Source: PitchBook



VAST Data: $100 million in April

Headquarters: New York, New York

Year founded: 2016

Valuation: $1.2 billion

Total raised: $180 million as of April 2020

Latest round: Series C

Investors: Greenfield Partners (Israel), Next47, Goldman Sachs Private Ventures, 83North, Dell Technologies Capital, Commonfund, Mellanox Capital, and Norwest Venture Partners.

Employees: 145 as of April 2020

What it does: VAST Data builds a storage solution intended to make it easier for companies to quickly and continuously analyze large sets of information.

A company spokesperson said the funding round essentially began in February after it received "unsolicited interest" from investors. The funding round nearly tripled VAST Data's valuation, the spokesperson said.

Source: PitchBook



Fivetran: $100 million in June

Headquarters: Oakland, California

Year founded: 2012

Valuation: $1.2 billion

Total raised: $163.12 million as of June 2020

Latest round: Series C

Investors: Matrix Partners, CEAS Investments, General Catalyst, Andreessen Horowitz

Employees: 350 as of June 2020

What it does: FiveTran builds a platform that brings together all of a company's data into a single dashboard. A company spokesperson said Fivetran started raising on May 26 and closed the round in about a week, and confirmed it was at a higher valuation than the company's previous round.

Source: PitchBook



DNAnexus: $100 million in June

Headquarters: Mountain View, California

Year founded: 2009

Valuation: $194.7 million

Total raised to date: $295.73 million as of June 2020

Latest round: Series G

Investors: Northpond Ventures, TPG Growth, Perceptive Advisors, Foresite Capital Management, Regeneron Pharmaceuticals, First Round Capital, GV

Employees: 150 as of June 2020 

What it does: DNAnexus is a cloud data analytics platform that works closely with pharmaceutical companies and colleges to access DNA data. The Series G marks the most money DNAnexus has received at once.

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook



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Scott Mayle 2021-05-17
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The development comes after it acquired Singapore-based fintech platform Fave in a US$45 million deal.
Johnny Ament 2018-09-21

CapitalG, the growth equity arm of Alphabet, has led the $185 million round in Convoy, its first investment in the Seattle-based tech-enabled trucking network.

The round brings Convoy’s total raised to $265 million and values the company at $1 billion.

New investors T. Rowe Price and Lone Pine Capital participated in the financing alongside existing investors.

Convoy has long been backed by Greylock Partners, which led the startup’s Series A in 2015.

Y Combinator is also a backer.

In an unusual move last year, Y Combinator led a $62 million round in Convoy in what was the first time the accelerator deployed capital from its continuity fund into a late-stage company that was not a YC graduate.

sonia mehta 2021-10-11
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In September 2021, Australia-based FinTech platform, Airwallex, raised US$200 million in its Series E funding round at a valuation of US$4 billion.

The company, primarily involved in business banking services, raised the fund from Lone Pine Capital, G Squared, Vetamer Capital Management, 1835i Ventures, Salesforce Ventures, DST Global, and Sequoia Capital.

According to the company, the fund will be used for global expansion, product development, and strengthening its team in the sales and commercial divisions.The funding round brings the total capital raised by the firm to US$700 million, which also includes a US$100 million Series D funding raised in March 2021.The firm attributes the quick succession of funding and rising valuation to the vertically integrated strategy followed by Airwallex.

Notably, the vertically integrated strategy as described by the company consists of two parts.

First, the firm has built all the infrastructure needed for the business banking services, which it provides directly to the SME businesses.

Second, the firm has packaged up the infrastructure into a set of APIs used by different companies to offer financial services to their customers without actually having to build those services themselves.In September 2021, the firm also secured a money services business (MSB) license from Bank Negara Malaysia.

James Williams 2019-11-13

Convoy, the digital freight network that connects truckers with shippers, has raised $400 million in a Series D funding round as it aims to scale its business amid an increasingly competitive market.

The funding round brings Convoy’s post-money valuation to $2.75 billion.

The round was co-led by Generation Investment Management and previous Convoy investor T. Rowe Price Associates.

Asset management firm Baillie Gifford, which has fondness for pre-IPO tech companies, Fidelity and Durable Capital Partners as well as Series C investors CapitalG and Lone Pine Capital also participated in the round.

Convoy has managed to attract a slew of high-profile investors— and their capital — such as Jeff Bezos, Salesforce CEO Marc Benioff and even U2’s Bono and the Edge.

In the four years since its founding, Convoy has raised a total of more than $668 million.

Blaine Pilgrim 2019-05-21
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Money transfer service TransferWise is now valued at $3.5 billion, a figure it said it attained following a $292 million secondary funding round.

The round, which saw no new shares issued or capital raised, is essentially a way for early investors and employees to cash in by selling some of their stock to newer investors.

According to the company, Lead Edge Capital, Lone Pine Capital, and Vitruvian Partners led the stock purchase, while existing investors Andreessen Horowitz and Baillie Gifford also expanded their stake in the London-based company, alongside funds managed by BlackRock.

For the uninitiated, TransferWise is a major player in the fintech realm, with a peer-to-peer international money transfer platform that helps consumers bypass banks to cut down on foreign exchange rates.

The company also offers so-called “borderless” accounts for businesses and consumers, allowing anyone to easily gain access to a local bank account in various markets around the world.

In fact, TransferWise said that its own investors used TransferWise for Business to save some of the fees while settling the $292 million financing.

Seth Logan 2019-04-16
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Outreach, a Seattle, Washington-based software startup developing a semiautomated sales engagement platform, today announced that it’s raised $114 million in a series E funding round led by private investment manager Lone Pine Capital, with participation from a wealth of new and existing investors including Meritech Capital Partners, Lemonade Capital, DFJ Growth, Four Rivers Group, Mayfield, Microsoft Ventures, Sapphire Ventures, Spark Capital, and Trinity Ventures.

It values the company at a whopping $1.1 billion and follows a $65 million series D venture capital round in 2018, bringing Outreach’s total funding to date to $239 million.

CEO Manny Medina said the cash infusion will allow it to double its machine learning team, expand its international footprint, and further grow its partner ecosystem, adding that he expects Outreach to reach an annualized sales rate of $100 million within the next year.

“That’s right: Outreach is officially a ‘unicorn’ and the only one in the rapidly growing sales engagement space,” said Medina, a former Microsoft director.

“Through market education and creating a product that delivers on the promise of an inherently better workflow for all customer-facing teams we have built the sales engagement category from the ground up and are uniquely positioned to leverage this momentum across the entire enterprise.

This funding will enable us to continue innovating directly for the end user, using the latest in machine learning and natural language processing to deliver a platform that is easy to use and provides immediate value through every action.”

George Comer 2020-07-29
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TransferWise founders Kristo Kaarmann and Taavet Hinrikus

  • London-based startup TransferWise has boosted its valuation to $5 billion after concluding a $319 million secondary share sale.
  • New investor D1 Capital Partners and existing shareholder Lone Pine Capital bought into the firm while existing shareholders Baillie Gifford, Fidelity Investments and LocalGlobe expanded their holdings in the fintech. 
  • "We're very happy to not have to raise every two to three years to keep the business alive," Matt Briers, TransferWise CFO told Business Insider in an interview. "It's a nice position to be in — we're not living hand-to-mouth, we're profitable, not solving for a short term valuation, and the most important thing for us and investors is a sustainable, durable business."
  • Visit Business Insider's homepage for more stories. 

London-based money transfer company TransferWise has boosted its valuation to $5 billion after concluding a $319 million secondary share sale.

The new valuation maintains the company's position as one of Europe's most valuable fintech startups and the secondary trade serves to diversify its funding pool.

The company allows customers to send and receive funds in multiple currencies all at real-time exchange rates, and recently expanded its US presence. 

New investors D1 Capital Partners and existing shareholder Lone Pine Capital bought into the firm while existing shareholders Baillie Gifford, Fidelity Investments and LocalGlobe expanded their holdings in the fintech. Vulcan Capital also bought in.

Secondary share sales are uncommon in Europe and similar deals, which involve existing shareholders selling off their shares to other buyers, are not generally publicized. The transaction gives liquidity to early backers and employees, several of whom may now be extremely wealthy.

TransferWise has now attracted some $1.92 billion in primary and secondary transactions following a similar deal last year

The firm's chief financial officer, Matt Briers, told Business Insider the move was designed to help the company work with investors who had five to ten year horizons and reward employees. 

"We're very happy to not have to raise every two to three years to keep the business alive," Briers said.  "It's a nice position to be in; we're not living hand-to-mouth, we're profitable, not solving for a short term valuation, and the most important thing for us and investors is a sustainable, durable business."

Investors view the company as ripe for a float, and it now has the freedom to choose when it goes public.

Some companies can feel pressure to list or sell if their backers want liquidity. Cofounder Taavet Hinrikus previously told the Financial Times that he believes TransferWise will go public at some point, but the deal means there's no rush.

The company now serves 8 million customers worldwide, processing £4 billion in cross-border payments alone every month and claims to be adding 10,000 business customers a month via its integrations with other startups, such as Monzo.

"There's lots of talk about unicorns, but in reality we're building something even more rare," Kristo Käärmann, CEO and cofounder, TransferWise said. "Nine years in, we're saving our customers £1 billion in hidden fees every year. That's a start, but only a small dent in what banks collect. We're still at the beginning of a long journey, and we've built a financially sustainable company to get there."

SEE ALSO: Here's an exclusive look at the pitch deck fintech ComplyAdvantage used to raise $50 million from a SpaceX backer

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NOW WATCH: How waste is dealt with on the world's largest cruise ship

FinTech Buzz 2020-05-21
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Brex, the financial technology company reimagining financial systems for growing companies, today announced that an investment group including Lone Pine Capital as well as a group of existing investors led by DST has invested an additional $150 million in the company.

The investment represents a slight premium to Brex’s post money valuation.This fresh capital strengthens the Brex balance sheet and bolsters Brex’s standing as the leading financial services provider to technology, ecommerce, life sciences and other businesses.

The equity proceeds also enhance Brex’s position across all of its lenders and financial partners.Fintech News“We’re glad to have additional capital at a time when customers need us to be focused 100% on providing services and solutions to help them navigate these challenging economic times,” said Henrique Dubugras, Co-Founder and Co-CEO of Brex.Brex is specifically using the proceeds to further invest across engineering and product and design functions in order to improve expense management, procurement and software tooling for its customers.

The company will use a combination of organic efforts as well as small acquisitions to supplement its hiring and product development efforts.“We are excited to have a front row seat as Brex continues to revolutionize financial services,” said David Craver, Portfolio Manager and Managing Director of Lone Pine Capital.

“With one of the strongest executive teams in fintech, we look forward to seeing Brex continue to provide support and innovative solutions to its customers through this dynamic and unprecedented business environment.”Brex has spent the last few months adapting its business for the current economic conditions and public health environment.

Brex introduced a new rewards program to better serve customers that have moved to remote work, added contactless payment support for Apple Pay and Google Pay and helped its customers obtain millions of dollars in CARES Act Payment Protection Program loans.

Anthony Couture 2019-05-22
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Money transfer service Transferwise today announced the completion of a $292m (£230m) share sale, making it Europe’s most valuable fintech company at $3.5bn.

Read more: UK named world's top fintech hub as startups rake in £4.5bn

Existing investors Andreessen Horowitz and Baillie Gifford expanded their holdings in Transferwise, while investment was also provided from funds managed by Black Rock.

The funding round was led by growth capital investors Lead Edge Capital, Lone Pine Capital and Vitruvian Partners, Transferwise said.

To date, the company has raised $689m in primary and secondary funding as it resists going public.

Transferwise, founded by Estonians Taavet Hinrikus and Kristo Kaarmann in 2011, now serves 5m customers worldwide, processing £4bn every month.

Jerrell Lawson 2019-05-17
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Away, an online luggage seller, announced Wednesday it raised $100 million at $1.4 valuation just three years after it was founded by Jen Rubio and Steph Korey.

Away is the most recent female-founded company that has been valued at or above $1 billion in recent months, including Emily Weiss's skincare and makeup company Glossier and Jennifer Hyman's clothing rental company Rent the Runway.

According to Rubio, the new funding will help her team expand into apparel, accessories, and wellness products.

The pair developed a suitcase with a battery to charge mobile devices, and launched a website to sell it.

Three years later, Away is valued at $1.4 billion, thanks to a $100 million funding round from Wellington Management Company LLP, Baillie Gifford, Lone Pine Capital, and Global Founders Capital that was announced this week.

Now, Rubio, Away's president and chief brand officer, says that the company has loftier plans in mind.

Anthony Couture 2017-11-09
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Electric cars are set to become an increasingly lucrative investment target, if they continuing enjoying the strong support of global initiatives to lower emissions and put clearer vehicles on roads.

So expect more funding like the reported $1 billion that Niobium’s (formerly NextEV) has raised from a host of investors led by Tencent, per Reuters.

The Chinese carmaker has already set a launch window for its first all-electric car, a seven-seater SUV which is going to be available in the middle of next month.

Nio is hoping to then also bring an autonomous EV to U.S. shores by 2020, and it raised $600 million in a round that closed just this past March.

The Shanghai based company added some new investors during this round, according to Reuters, including U.S. hedge fund Lone Pine Capital, and the round values the young automaker at around $5 billion.

Niobium’s is working with Chinese automaker Chongqing Changan Automobile on a joint venture focused on development and sales of EVs, too.

Albert Hummel 2019-11-13
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On-demand trucking and freight marketplace Convoy has raised $400 million in a series D round of funding co-led by Generation Investment Management and T. Rowe Price Associates, with participation from Alphabet’s CapitalG, Lone Pine Capital, Baillie Gifford, Fidelity Management and Research, and Durable Capital Partners.

Other illustrious previous investors include Salesforce CEO Marc Benioff, Dropbox CEO Drew Houston, Instagram cofounder Kevin Systrom, Jeff Bezos’ Bezos Expeditions, Y Combinator, Greylock Partners, and — because why not — Bono and The Edge from U2.

By way of a quick recap, Convoy connects shippers with carriers, matching supply with demand to ensure trucks aren’t traveling long distances with empty trailers.

It’s all about optimizing and streamlining cargo loads — like Uber for trucks.

Countless other trucking startups have raked in big venture capital (VC) bucks — San Francisco-based KeepTruckin recently secured $149 million in funding from a host of big-name investors, including Alphabet’s other investment arm GV, while Next Trucking closed a $97 million investment.

“We built this company from the beginning with a focus on creating a more efficient model for connecting shippers and truckers,” explained Convoy CEO and cofounder Dan Lewis.

Kyle Patterson 2020-12-22
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The company is the first in the country to attain unicorn status, and it claims to serve over 150,000 merchants across Asia and the Middle East.
James Howard 2020-07-29
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Eugenio Pace

While venture capital deals have slowed during the economic downtown, the pandemic is actually making it easier for some startups to raise money. Enterprise technology firms, like cybersecurity software startup Auth0, are finding themselves beneficiaries of the shift to remote work.

"There are some tailwinds for us because of the pandemic," said Eugenio Pace, CEO of Auth0, which raised $120 million at a nearly $2 billion valuation in July. "It's very unfortunate that it's happening, but it's happening, and one of the side effects is that all of these projects of improving the digital experience of customers have accelerated."

Investors have predicted that funding will be harder to come by for startups over the next year, but the enterprise IT industry is expected to be more insulated from that trend — particularly those startups focused on making remote work possible.

Bill Richter, CEO of hybrid cloud storage startup Qumulo, said his company's recent $125 million funding round, which doubled its valuation, is an example that there will always be capital available to startups that are solving real problems, regardless of the economic cycle.

"These global crises create a lot of change," said Richter, who's also a venture partner at Seattle's Madrona Venture Group. "And any time there's change, there ends up being a set of winners and losers through that process."

Business Insider compiled a list of 19 enterprise technology startups that have raised funding amid the pandemic using data from venture capital database PitchBook. We targeted startups that have disclosed valuations and closed a funding round since March, and defined "enterprise technology" fairly broadly as startups that sell technology to other companies. Collectively, they raised around $3.6 billion. 

Funding itself isn't always a sign that a startup is thriving, though. At least one startup on this list raised at a lower valuation, while others had a flat valuation between rounds. Some did not respond to whether they raised money at a higher valuation than previous rounds, as noted below.

SEE ALSO: Meet the 54 most valuable enterprise tech startups, worth as much as $216 billion collectively

Stripe: $600 million in April

Headquarters: San Francisco, California

Year founded: 2009

Valuation: $36 billion

Total raised to date: $1.89 billion as of April 2020

Latest round: Series G

Investors: Sequoia Capital, General Catalyst, Novator Partners, Andreessen Horowitz, and GV

Employees: 2,500 as of May 2020

What it does: Stripe builds a digital payments platform used by companies including Airbnb, Amazon, and Target. Cofounder and president John Collison recently spoke to Business Insider about raising $600 million amid the pandemic, and signing new customers like Mattel and NBC.

The $600 million Stripe raised in April was an extension of the Series G round that it began in September 2019 with $250 million, bringing the total raised to $850 million. Stripe confirmed the April extension was raised at the same valuation as the September funding.

Source: PitchBook



Samsara: $400 million in May (down-round)

Headquarters: San Francisco, California

Year founded: 2015

Valuation: $5.4 billion

Total raised to date: $930 million

Latest round: Series F

Investors: Warburg Pincus, Sands Capital Management, General Atlantic, General Catalyst, Andreessen Horowitz, AllianceBernstein, Tiger Global Management, Dragoneer Investment Group, and Franklin Templeton Investments United Kingdom.

Employees: 1,350 as of July 2020

What it does: Samsara builds sensors and cloud software for so-called "Internet of Things" connected devices and applications. While the startup is still one of the most valuable in the enterprise technology market, it's faced recent challenges.

Samsara laid off 300 employees and raised $400 million at a lower valuation in May, citing the economic crisis caused by the pandemic (the company was previously valued at more than $6 billion). A spokesperson said the latest round would "ensure we can operate sustainably and reach full profitability, even under the worst case economic conditions or if a recession lasts for years."

PitchBook lists Samara's Series F as $700 million, but that's because April's funding was an extension of the round in which it initially raised $300 million back in September.

Source: PitchBook



Cohesity: $250 million in April

Headquarters: San Jose, California

Year founded: 2013

Valuation: $2.5 billion

Total raised: $661 million as of April 2020

Latest round: Series E

Investors: Oryx Ventures, Hewlett Packard Pathfinder, Sozo Ventures, Private Access Network, Baillie Gifford, SoftBank Investment Advisers, Wing Venture Capital, Greenspring Associates, Foundation Capital, DFJ Growth, Sequoia Capital, Cisco Investments

Employees: 1,300 as of May 2020

What it does: Cohesity builds a platform for storing and managing company data. The company did not respond to a request about whether its latest round was raised at a higher valuation than its previous round, or when it began raising the funding.

Source: PitchBook



Confluent: $250 million in April

Headquarters: Mountain View, California

Year founded: 2014

Valuation: $4.5 billion 

Total raised: $456 million 

Latest round: Series E

Investors: Franklin Templeton Investments, Altimeter Capital Management, Coatue Management, Index Ventures, Sequoia Capital

Employees: 1,000

What it does: Known for what industry insiders refers to as "event streaming" software, Confluent pulls in real-time data from various silos across an organization into a central location so it can be used to inform decision-making. For example, a customer could tap its technology to monitor the success of an advertising campaign by analyzing sources like social media posts and inventory numbers. It's based upon Apache Kafkaan, an open-source platform that CEO Jay Kreps helped create while at LinkedIn.  

Source: PitchBook



Carta: $210 million in June

Headquarters: Palo Alto, California 

Year founded: 2014

Valuation: $3.28 billion 

Total raised: $629 million 

Latest round: Series F

Investors: Tribe Capital, Finsight Ventures, Premji Invest, Lightspeed Venture Partners

Employees: 600

What it does: Carta helps startups and their employees manage equity, but is striving to create what CEO Henry Ward calls a "stock market for private companies." The platform is used by over 11,000 companies and 143 venture capital firms, according to Carta. It laid off 161 people in April. 

The company has recently faced scrutiny after a lawsuit accused it of underpaying and retaliating against its sole female executive. 

Source: PitchBook

 



QuantumScape: $200 million in June

Headquarters: San Jose, California

Year founded: 2010

Valuation: $2.3 billion

Total raised to date: $196.27 million as of June 2020

Latest round: Series F

Investors: Breakthrough Energy Ventures, Volkswagen, Capricorn Investment Group 

Employees: 34 as of October 2019

What it does: QuantumScape develops non-lithium battery technology that increases longevity and shortens charging times for electric cars. The German carmaker Volkswagen recently increased its stake in the company by $200 million.

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook



Asapp: $185 million in May

Headquarters: New York, New York

Year founded: 2014

Valuation: $835 million

Total raised: $260 million 

Latest round: Series B

Investors: Joe Tucci, Telstra Ventures, Vast Ventures, March Capital Partners, HOF Capital, John Chambers, Euclidean Capital, Emergence Capital Partners, John Doerr

Employees: 337

What it does: ASAPP helps corporations manage their call centers by providing agents with automated responses, a full history of every customer interaction with the company, regardless of medium, and other tools.  

Source: PitchBook

 

 



Postman: $150 million in June

Headquarters: San Francisco, California

Year founded: 2014

Valuation: $2 billion

Total raised: $208 million as of June 2020

Latest round: Series E

Investors: Franklin Templeton Investments, Altimeter Capital Management, Coatue Management, Index Ventures, and Sequoia Capital.

Employees: 250 as of June 2020

What it does: Postman builds a collaboration platform offering application programming interfaces (APIs). Microsoft, Twitter, and Cisco all use the platform. 

The round began in the second quarter of this year, when Postman CEO and cofounder Abhinav Asthana was approached by investors, according to the company, and the round stepped up its valuation.

Source: PitchBook



Procore: $150 million in April

Headquarters: Carpinteria, California

Year founded: 2003

Valuation: $4.85 billion

Total raised: $640 million as of April 2020

Latest round: Series I

Investors: D1 Capital Partners and Bessemer Venture Partners

Employees: 1,911 as of December 2019

What it does: Procore builds construction management software intended to simplify everyday tasks for construction workers, like creating job site schedules. Procore had plans to go public, according to Bloomberg, but has postponed those plans and instead completed a $150 million funding round in April.

A spokesperson said Procore raised the funding at the same valuation as its last funding round in late 2019.

Source: PitchBook



Brex: $150 million in May

Headquarters: San Francisco, California 

Year founded: 2017

Valuation: $2.75 billion

Total raised: $465 million 

Latest round: Series C

Investors: Lone Pine Capital, Next Play Ventures, DST Global

Employees: Around 400

What it does: Brex offers a credit card tailored for startups that may face difficulty getting credit from traditional banks. And unlike most legacy financial institutions that lend based on credit history, the company bases its decision on factors like who is investing in the firm and prior spending habits. 

Source: PitchBook



Tanium: $150 million in June

Headquarters: Emeryville, California

Year founded: 2007

Valuation: $9 billion

Total raised: $837.08 million as of June 2020

Latest round: Series H

Investors: Salesforce Ventures

Employees: 1,500 as of April 2020

What it does: Tanium is a cybersecurity firm that works to make companies more secure by protecting so-called "endpoints," like desktops, laptops, and mobile devices. Salesforce signed a deal with Tanium in February to keep company information secure during the shift to remote work, which raised Tanium's valuation to $9 billion.

A spokesperson said there was no start date to the funding round because the partnership with Salesforce evolved over time.

Source: PitchBook



Qumulo: $125 million in July

Headquarters: Seattle, Washington

Year founded: 2012

Valuation: $1.2 billion

Total raised: $363.01 million as of July 2020

Latest round: Series E

Investors: Kleiner Perkins, BlackRock Private Equity Partners, Madrona Venture Group, Amity Ventures, and Highland Capital Partners.

Employees: 315 as of July 2020

What it does: Qumulo is a hybrid cloud storage startup that helps customers manage data inside their own data centers and the cloud. Qumulo more than doubled its valuation in a recent funding round and told Business Insider it shows how investors are betting big on digital transformation amid the pandemic.

The round started in April and closed in July.

Source: PitchBook



Podium: $125 million in April

Headquarters: Lehi, Utah

Year founded: 2014

Valuation: $1.45 billion

Total raised: $221.89 million as of April 2020

Latest round: Series C

Investors: Album VC, Summit Partners, Recruit Strategic Partners, Sapphire Ventures, Y Combinator, Alkeon Capital Management, Accel, GV, and IVP.

Employees: 750 employees as of June 2020

What it does: Podium builds a platform to makes it easier for a local business to communicate with customers, via email or text, as Business Insider's Ben Pimentel writes. It can help companies ask customers to post a review on most of the popular review sites, such as Google.

Source: PitchBook and CB Insights



States Title: $123 million in May

Headquarters: San Francisco, California

Year founded: 2016

Valuation: $623 million

Total raised to date: $158.22 million as of May 2020

Latest round: Series C

Investors: Horizons Ventures, Bloomberg Beta, Hudson Structured Capital Management, Fifth Wall, Greenspring Associates, Assurant Growth Investing, Scor, Foundation Capital, Lennar, Eminence Capital 

Employees: 1,000 as of May 2020

What it does: States Title is an insur-tech platform to make the process of buying and selling homes more efficient through machine learning. In a press release, CEO Max Simkoff said, "We are witnessing an unprecedented shift in the structural foundation of the real estate industry, and this new funding will allow States Title to provide enhanced support for lenders, real estate agents, and homeowners."

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook



NS8: $123 million in June

Headquarters: San Francisco, California

Year founded: 2016

Valuation: $436.38 million

Total raised to date: $158.22 million as of May 2020

Latest round: Series A

Investors: Lightspeed Venture Partners, AXA Venture Partners 

Employees: 225 as of July 2020

What it does: NS8 is a fraud prevention platform that works with ecommerce businesses. In a press release about the new round of funding, NS8 said its year-over-year growth was 200%. NS8 declined to disclose information about its valuation prior to this Series A round.

Source: PitchBook



Auth0: $120 million in July

Headquarters: Bellevue, Washington

Year founded: 2013

Valuation: $1.92 billion

Total raised: $333.47 million as of July 2020

Latest round: Series F

Investors: Telstra Ventures, Trinity Ventures, Sapphire Ventures, Salesforce Ventures, Bessemer Venture Partners, Meritech Capital Partners, K9 Ventures, DTCP, and World Innovation Lab

Employees: 700 as of July 2020

What it does: Auth0 is a cybersecurity software startup that manages user authentication and secures the login pages for large consumer and enterprise businesses. The company funding round started and closed within the month of June, a spokesperson said.

Source: PitchBook



VAST Data: $100 million in April

Headquarters: New York, New York

Year founded: 2016

Valuation: $1.2 billion

Total raised: $180 million as of April 2020

Latest round: Series C

Investors: Greenfield Partners (Israel), Next47, Goldman Sachs Private Ventures, 83North, Dell Technologies Capital, Commonfund, Mellanox Capital, and Norwest Venture Partners.

Employees: 145 as of April 2020

What it does: VAST Data builds a storage solution intended to make it easier for companies to quickly and continuously analyze large sets of information.

A company spokesperson said the funding round essentially began in February after it received "unsolicited interest" from investors. The funding round nearly tripled VAST Data's valuation, the spokesperson said.

Source: PitchBook



Fivetran: $100 million in June

Headquarters: Oakland, California

Year founded: 2012

Valuation: $1.2 billion

Total raised: $163.12 million as of June 2020

Latest round: Series C

Investors: Matrix Partners, CEAS Investments, General Catalyst, Andreessen Horowitz

Employees: 350 as of June 2020

What it does: FiveTran builds a platform that brings together all of a company's data into a single dashboard. A company spokesperson said Fivetran started raising on May 26 and closed the round in about a week, and confirmed it was at a higher valuation than the company's previous round.

Source: PitchBook



DNAnexus: $100 million in June

Headquarters: Mountain View, California

Year founded: 2009

Valuation: $194.7 million

Total raised to date: $295.73 million as of June 2020

Latest round: Series G

Investors: Northpond Ventures, TPG Growth, Perceptive Advisors, Foresite Capital Management, Regeneron Pharmaceuticals, First Round Capital, GV

Employees: 150 as of June 2020 

What it does: DNAnexus is a cloud data analytics platform that works closely with pharmaceutical companies and colleges to access DNA data. The Series G marks the most money DNAnexus has received at once.

The company did not respond to a request about when it started the round or whether it was raised at a higher valuation than its previous round.

Source: PitchBook