Shopify Plus Threads And A Merger Of Unicorn Giants
John Gannon
Founder (Venture5 Media & V5 Summit, GoingVC) + Investor (Angel, LP, Syndicate Lead)
Are you raising a new fund?
If so, you'll want to join our webinar Emerging Manager Spotlight: LP Perspectives later this month.
Our guest will be Marius Weber, partner at AlphaQ Venture Capital.
His firm has backed a number of emerging managers in recent years.
And they continue to deploy capital as an LP into promising funds across the U.S., Europe and Israel.
Don't miss the chance to hear how they evaluate emerging managers, their thoughts on the current fundraising market, and more. ????
Special thanks to Sydecar, our sponsor for this edition of the Emerging Manager Spotlight.
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??LAST WEEK IN REVIEW??
Here's how U.S. investors backed companies by geographic location this week (vs last week):
- California: 12 deals totaling $282.4 million (vs 16 deals, $369.1 million last week)
- The Northeast: 12 deals, $113.1 million (vs 13 deals, $166.7 million)
- Mid-Atlantic: no deals this week (vs 1 deal, $2.0 million)
- Midwest: 1 deal, $73.0 million (vs 1 deal, $2.3 million)
- Pacific Northwest: 1 deal, $10.0 million (vs 1 deal, $8.0 million)
- Rockies: 1 deal, $5.0 million (vs 1 deal, $6.0 million)
- Southeast: 1 deal, $8.5 million (vs 8 deals, $95.9 million)
- Southwest: 2 deals, $3.8 million (vs 5 deals, $227.0 million)
The pie chart below displays the distribution of investment across different funding stages for the 24 of 30 U.S. deals where such details were provided.
?? SOURCING IDEAS ??
Companies which had raises reported ~1 year ago, on or around June 9, 2023
?? Yuvo Health, a New York, NY-based provider of administrative software for community health centers, raised $20.2 million in a Series A funding round led by Mastry Ventures, with participation from AlleyCorp, AV8 Ventures, New York Ventures, as well as new investors HLM Venture Partners, Route 66 Ventures, VamosVentures and Social Innovation Fund.
?? Laudio, a Newton, MA-based provider of healthcare operations management software, raised $13 million in a Series B funding round led by Define Ventures, with participation from .406 Ventures, InHealth Ventures, MemorialCare Innovation Fund and TeleTracking Technologies.
?? Grapefruit Health, a Chicago, IL-based remote patient monitoring startup, raised $1.3 million in a funding round from Google for Startups and other investors.
??LAST WEEK’S MOST POPULAR LINK??
?? Félix Pago, a San Francisco, CA-based money transfer startup focused on LatAm remittances, raised $15.5 million in a Series A funding round led by Castle Island Ventures, with participation from Switch Ventures, HTwenty, Contour and MELI Capital.
?? M&A ??
?? Shopify, an Ottawa, ON-based publicly traded global eCommerce company, acquired Threads, a San Francisco, CA-based communication and collaboration platform which had raised $38 million from Sequoia Capital, Caffeinated Capital and Foundation Capital, for an undisclosed amount.
? Sirion Labs, a Salt Lake City, UT-based contract lifecycle management company which most recently raised Peak XV (formerly Sequoia India) and Tiger Global $110 million at a $1 billion valuation from Peak XV, Tiger Global and other investors, acquired Eigen Technologies, a New York, NY-based enterprise AI firm focusing on parsing and extracting insights and data from documents in verticals like insurance, finance and law which had raised $81 million from Goldman Sachs, Dawn Capital, ING Ventures, Lakestar and Temasek, most recently at a $170 million valuation, for an undisclosed amount.
?? Mediktor, a Barcelona, Spain-based triage chatbot maker, acquired Sensely, a San Francisco, CA-based insurance chatbot maker which had raised ~$35 million from Pegasus Tech Ventures, Aflac, SVB, Chengwei Capital and Nippon Life, for an undisclosed amount.
?? VC DEALS ??
?? Cube, a San Francisco, CA-based semantic layer for data apps, raised $25 million in a funding round led by Databricks Ventures, with participation from Decibel, Bain Capital Ventures, Eniac Ventures and 645 Ventures.
?? Prolific Machines, an Emeryville, CA-based protein cell production tech startup that leverages light, raised $55 million in a Series B funding round led by Fonterra Cooperative Group's VC arm, with participation from Breakthrough Energy Ventures, Mayfield, SOSV, Shorewind Capital, Darco Capital, Conti Ventures and In-Q-Tel.
?? Tektonic, a Bellevue, WA-bsaed workflow automation startup, raised $10 million in a Seed funding round co-led by Point72 Ventures and Madrona Ventures.
?? Torpago, a San Francisco, CA-based commercial credit card and spend management provider, raised $10 million at a $55 million valuation in a Series B funding round co-led by Priority Tech Ventures and EJF Ventures, with participation from BankTech Ventures.
??? Browserbase, a San Francisco, CA-based provider of headless web browser APIs, raised $6.5 million in a Seed funding round led by Kleiner Perkins, with participation from Basecase Capital and AI Grant.
?? Cartwheel, a New York, NY-based provider of a generative automation platform, raised $5.6 million in a Seed funding round led by Accel, with participation from Khosla Ventures, Human Ventures, Heretic VC, MVP Ventures, Correlation Ventures and Pelion VC.
?? Liminal, a Denver, CO-based data security startup, raised $5 million in a Seed funding round led by Fin Capital, with participation from High Alpha, Matchstick Ventures and Craft Ventures Scout Fund.
? Greptile, a San Francisco, CA-based company that allows engineers to use natural language to index and search large codebases, raised $4 million in a Seed funding round led by Initialized Capital, with participation from individual investors.
?? Pika, a Palo Alto, CA-based text-to-video AI platform, raised $80 million at a $470 million post-money valuation from Spark Capital, Lightspeed Venture Partners and Greycroft, bringing the total amount raised to date to over $130 million.
领英推è
?? Nium, a San Francisco, CA-based cross-border payments company, raised $50 million at a $1.4 billion valuation in a Series E funding round from Bond, NewView Capital and Tribe Capital.
?? HYPR, a New York, NY-based identity assurance company, raised $30 million in a funding round from Silver Lake Waterman, bringing the total amount raised to date to over $127 million.
?? Sixfold, a New York, NY-based insurance underwriting tech startup, raised $15 million in a Series A funding round led by Salesforce Ventures, with participation from Scale Venture Partners, Bessemer Venture Partners and Crystal Venture Partners.
?? SiTration, a Boston, MA-based materials recovery company serving the mining and metals industries, raised $11.8 million in a Seed funding round led by 2150, with participation from BHP Ventures, Extantia and Orion Industrial Ventures.
?? Dive, a Boston, MA-based provider of fluid dynamics simulation software, raised $10 million in a Series A funding round led by DE Shaw.
?? Rising Team, a Menlo Park, CA-based team performance platform, raised $8 million in a Seed funding round led by Zeal Capital Partners, with participation from Peterson Ventures, Roble Ventures, Female Founders Fund, Burst Capital and Supernode Ventures.
??? Eyebot, a Boston, MA-based developer of AI-powered kiosks that provide 90-second vision exams without an on-site optometrist, raised $6 million in a funding round co-led by AlleyCorp and Ubiquity Ventures, with participation from Susa Ventures, Village Global, Baukunst, Ravelin and Spacecadet.
?? Sware, a Boston, MA-based provider of a software validation solution for life sciences companies, raised $6 million in a Series B funding round led by First Analysis, with participation from LRVHealth, New Stack Ventures and Insight Partners.
??? Hoop, a New York, NY-based provider of an AI-powered task management platform, raised $5 million in a Seed funding round led by Index Ventures, with participation from Origin Ventures, Divergent Capital and Chingona Ventures.
?? OneScreen.ai, a Boston, MA-based provider of out-of-home performance marketing solutions, raised $4.7 million in a funding round from Asymmetric Capital Partners, Techstars and Impellent Ventures.
?? Materna Medical, Mountain View, CA-based MedTech company focused on women’s pelvic health, raised an additional $5.7 million in a Series B2 funding round led by InnovaHealth Partners, bringing the total amount raised to date to $57.6 million.
?? Ashby, a San Francisco, CA-based provider of a recruiting platform, raised $30 million in a Series C funding round led by an individual investor, with participation from F-Prime Capital, Y Combinator, existing investors and customers, bringing the total amount raised to date to $70 million.
?? ZeroMark, a New York, NY-based developer of military rifle attachments for shooting down drones, raised $7 million in a Seed funding round co-led by Andreessen Horowitz and Ground Up Ventures.
??? Hoonify Technologies, an Albuquerque, NM-based high-performance computing startup providing personal supercomputing solutions and engineering services for national security applications, raised $3.8 million in a Seed funding round led by Next Frontier Capital.
?? 11thEstate, a New York, NY-based provider of a platform for investors to receive entitlements from securities class action settlements and shareholder compensations, raised $2 million in a Seed funding round led by Social Leverage.
?? Flam, a San Francisco, CA-based premier AI-driven mixed reality (MR) publishing platform, raised $4.5 million in a pre-Series A funding round from Turbostart, Twin Ventures, Alphatron Capital, Inventus Capital Partners, SVQ, 9Unicorns and individual investors.
?? Odyssey, a New York, NY-based edtech startup offering public fund disbursement and e-commerce platform for school tuition, tutoring, technology and extracurricular enrichment, raised $10 million in a Series A funding round led by Tusk Venture Partners, with participation from Andreessen Horowitz, Cubit Capital and Bling Capital.
?? CinRx Pharma, a Cincinnati, OH-based hub-and-spoke biotech company, raised additional $73 million in a funding round from undisclosed investors, bringing the total amount raised to date to $176 million.
?? Case Works, an Austin, TX-based tech-enabled legal services company, raised an undisclosed amount from Renovus Capital Partners.
?? Bem, a San Francisco, CA-based AI data interface startup, raised $3.7 million in a seed funding round led by Uncork Capital, with participation from Roar Ventures and individual investors.
?? HyperSpectral, an Alexandria, VA-based AI-powered spectral intelligence company, raised $8.5 million in a Series A funding round co-led by RRE Ventures and Kibo Ventures, with participation from Correlation Ventures and GC&H Investments.
We'll be back in your Feed at the same time next Monday with a brand new report.
Until then.
John
John Gannon // Venture5 Media // VC Deals
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