INVEST NEWSWIRE ROUNDUP OF EXCITING VENTURE CAPITAL FUNDING IN Q1 2021
Here are a selection of some of the major pieces of VC investments that have the potential to power the transformation of the industries the companies operate. Look out for these companies to be making waves soon.
ZOOMIN RAISES $52M SERIES C FUNDING
Zoomin Software, a leading provider of knowledge orchestration solutions, raised a $52M Series C round led by General Atlantic, a leading global growth equity firm, with participation from returning investors Bessemer Venture Partners, Salesforce Ventures and Viola Growth. The new investment follows the company's last funding announcement only four months ago and comes as Zoomin is experiencing a surge in demand, with a growing number of enterprises recognizing the strategic value of product content.
ECOVATIVE RAISES NEW $60M SERIES D FINANCING
Ecovative, the mycelium technology company, has announced a $60M Series D round to grow mycelium materials better and faster, in key markets, at industrial scale. Ecovative has mastered the science of mycelium to grow custom solutions for industry-leading brands seeking to increase their sustainable profile across verticals and geographies. The round, which brings Ecovative's total capital raised to $100M, was led by Viking Global Investors, with support from Senator Investment Group, AiiM Partners, Trousdale Ventures and other investors.
RIGHTWAY RAISES $100M SERIES C AT $1.1B VALUATION
Rightway, a leading healthcare technology and services company revolutionizing care navigation and pharmacy benefits, has raised $100 million in Series C financing at a valuation of $1.1 billion. The round was led by Khosla Ventures, with participation from Thrive Capital, Tiger Global Management, and other existing investors.
CITYBLOCK HEALTH RAISES $192 MILLION IN SERIES C
Cityblock Health, a healthcare provider for Medicaid and lower-income Medicare beneficiaries, announced today the completion of a $192 million Series C extension funding round. Cityblock will use the newly-raised capital to accelerate deployment of its community and value-based care model nationwide, bringing desperately needed transformation to the most vulnerable and underserved communities across the country.
GETIR BECOMES A UNICORN WITH $2.6BN VALUATION
Getir, pioneers of ultrafast grocery delivery, have completed a $300mn Series C funding round just two months after finalizing its $128mn Series B round. The Series C round was led by Sequoia Capital and repeat investor Tiger Global. The investment round included 7 out of 8 existing funds. Istanbul-based Getir have revolutionized the grocery delivery sector and its new valuation of $2.6bn means that it has achieved 'unicorn' status in just 5 and a half years. The latest capital injection will support its exponential growth in Turkey and the UK and its rapid expansion strategy into three more European markets in the coming months.
SERVICETITAN ANNOUNCES $500 MILLION INVESTMENT
ServiceTitan, the world's leading provider of software for the trades, has announced a $500 million round at an $8.3 billion valuation. The round was led by Tiger Global Management and Sequoia Capital Global Equities with participation from H.I.G. Growth Partners. Existing investors participated, including Arena Holdings, Battery Ventures, Bessemer Venture Partners, Dragoneer Investment Group, Durable Capital Partners LP, ICONIQ Growth, Index Ventures, and funds and accounts advised by T. Rowe Price Associates.
CLEARSENSE SECURES $30 MILLION IN NEW FUNDING
Clearsense, an advanced data management and analytics technology platform serving the healthcare industry, has closed $30 million in financing in partnership led by Health Catalyst Capital. Clearsense will use the new capital to build out its technology and advisory services to lead enterprise data strategies, empowering access to and value from data.
PIE INSURANCE SECURES $118 MILLION IN SERIES C
Pie Insurance, an insurtech specializing in workers' comp insurance for small businesses, has completed a $118 million Series C funding round. Investors Allianz X and Acrew Capital led the round, and existing investors Greycroft, SVB Capital, SiriusPoint, Elefund, and Moxley Holdings also participated.
FINTECH STARTUP GREENWOOD RAISES $40 MILLION
Greenwood, the digital banking platform for Black and Latino individuals and business owners, has closed $40 million of Series A funding from six of the seven largest U.S. banks and the top two payment technology companies: Truist, Bank of America, PNC, JPMorgan Chase, Wells Fargo, Mastercard, and Visa. The group is joined by FIS, a leading provider of technology solutions for merchants, banks and capital markets firms globally, and Popular, the largest Hispanic-owned bank in the U.S.; venture capital firms TTV Capital, the SoftBank Group Corp's SB Opportunity Fund and Lightspeed Venture Partners (Scout Fund); sports and entertainment names including Quality Ventures, the private equity arm of sports media conglomerate Quality Control, and All-Pro NFL running back Alvin Kamara.
PACASO RAISES $75M AT $1B VALUATION
Pacaso, the company democratizing second home ownership, has announced $75 million in additional growth funding, bringing the company's total equity financing to more than $90 million. In addition, the company has secured $1 billion in debt financing from leading financial institutions. Pacaso, which launched in October 2020, has achieved unicorn status (valuation of $1 billion) faster than any other U.S. company.
SIDE BECOMES A UNICORN FOLLOWING $150 MILLION SERIES D
Side, the real estate technology company that exclusively partners with agents, teams, and independent brokerages to transform them into leading boutique brands and businesses, announced a $150 million Series D funding round led by Coatue Management, a top global technology-focused investment firm. This latest round of financing establishes Side as one of the only real estate companies to achieve unicorn status. Founded in 2017, Side also celebrates becoming the fastest real estate company to reach the $1 billion valuation milestone, doing so in just four years. Side's combined funding now totals over $200 million, which includes support from leading venture capital firms including Matrix Partners, Trinity Ventures, and Sapphire Ventures.
ID.ME RAISES $100 MILLION AT $1.5 BILLION VALUATION
ID.me, the leading secure digital identity network, announced it has raised $100 million in a Series C funding round led by Viking Global Investors. Counterpoint Global (Morgan Stanley), PSP Growth, Lead Edge Capital, CapitalG, WndrCo, Willoughby Capital, BoxGroup, and Moonshots Capital joined the round. Prominent investors include Marcelo Claure, Alexa Von Tobel, and Dan Rosensweig. The company is now valued at $1.5 billion.
FLUTTERWAVE CLOSES USD $170M FUNDING
Flutterwave, Africa's leading payments technology company, has secured USD $170 million from a leading group of international investors as part of a successful Series C round. The round was led by growth-equity firms Avenir Growth Capital and Tiger Global Management LLC with participation from new and existing investors. Founded by entrepreneur Olugbenga Agboola in 2016, the company's valuation is considered to be valued at more than USD $1 billion.
IXLAYER RAISES $75 MILLION TO TRANSFORM TELEHEALTH
ixlayer, a leader in technology-based solutions for diagnostic testing, has raised $75 million in an oversubscribed Series A funding round. The round is led by General Catalyst with participation from PearVC and others including Signatures Capital's Bobby Yazdani, Uber CEO Dara Khosrowshahi, 23andMe CEO Anne Wojcicki, MBX Capital's Zeshan Muhammedi and Prologis CEO Hamid Moghadam.
LATTICE RAISES $60M IN SERIES AT $1 BILLION VALUATION
Lattice, the leading people management platform for businesses with people-first cultures, announced a new valuation of $1 billion after having raised a $60 million round, led by Tiger Global. Jack Altman, Lattice's CEO and co-founder stated that Lattice decided to take on additional capital to continue the company's rapid growth, advance its product offerings, and explore international opportunities despite the company being profitable and investments from previous rounds still being available.
ACTIONIQ EXTENDS SERIES C TO $100 MILLION
ActionIQ, the leading Enterprise Customer Data Platform (CDP), has announced that it extended its Series C financing, bringing the total capital raised in the round to $100MM. Between this latest capital infusion and exponential growth—more than 100 percent uptick in revenue year-over-year—the extension increased the company's valuation by over 250 percent in just the last 12 months.
DATAMINR SECURES $475 MILLION FUNDING ROUND
Lurra Capital AG, a Swiss-based private capital investment firm, has participated in a $475 million funding round for New York headquartered Dataminr, one of the world's leading AI companies. Dataminr is ranked by Forbes as the 5th most promising AI firm in the US, with more than 650 employees in seven offices globally. This funding round gives the company a post-money valuation of $4.1bn. Other investors include Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP, Eden Global and Morgan Stanley.
AIRWALLEX RAISES US$100M, VALUED AT US$2.6B
Continuing the momentum of its hypergrowth in 2020, Airwallex announced that the company's valuation has increased to US$2.6 billion with a capital raising of US$100 million in a further Series D extension. Lifting Airwallex's Series D funding to US$300 million, this latest tranche followed its initial Series D round in April 2020 during the pandemic, and the extension round in September 2020. To date, Airwallex has achieved nearly US$500 million in equity funds raised.
NEIGHBOR.COM RAISES $53M IN SERIES B FUNDING
To capture massive demand for self-storage by repurposing under-utilized space, Neighbor, the self-storage marketplace, has closed a $53M Series B funding round led by the largest fund focused on global real estate and proptech, Fifth Wall. With support from returning investor Andreessen Horowitz and additional funding from DoorDash CEO Tony Xu and StockX CEO Scott Cutler, who will join former Uber CEO Ryan Graves and Overstock CEO Jonathan Johnson as investors.
RO RAISES $500 MILLION IN SERIES D FUNDING
Ro, the healthcare technology company, has completed a $500 million Series D fundraising round led by existing investors General Catalyst, FirstMark Capital and TQ Ventures, with significant participation from existing investors SignalFire, Torch Capital and BoxGroup as well as new investors Altimeter Capital, Baupost Group, Dragoneer Investment Group, ShawSpring Partners, Radcliff, and 776. Ro's fundraising since its founding in 2017 totals $876 million.