Connect with us

Crunchbase

The Briefing: Biden Taps A VC For Chief Of Staff, Railsbank Raises $37M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world….

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

President-elect Joe Biden named Ron Klain, an attorney and former chief of staff during his vice presidency, as White House chief of staff Wednesday. While Klain is best known for his political experience, he also brings a credential of particular interest to the startup space: He’s executive vice president and general counsel at venture and growth investor Revolution.

Co-founded by AOL1 founder Steve Case, Revolution is best known for its focus on promising startups outside the primary coastal tech hubs. The firm operates a group of  funds, including The Rise of the Rest Seed Funds, Revolution Ventures, and Revolution Growth, that taken together focus on startups across all stages.

The firm invests across a range of sectors, including supply chain and logistic challenges, healthy food, retail and consumer, digital entertainment, software and health care.

  • Railsbank raises $37M: London-based Railsbank, a banking-as-a-service platform for fintech companies, raised $37 million in a growth funding round led by MiddleGame Ventures and Ventura Capital.
  • Venminder lands $33M: Elizabethtown, Kentucky-based Venminder, a provider of third-party risk management assessment tools, announced that it raised $33 million in a Series C funding round led by new investor Silversmith Capital Partners.
  • Roots Automation secures $3.2M: Roots Automation, a New York-based digital coworkers-as-a-service company, raised a $3.2 million seed round led by Vestigo Ventures.
  • Source: https://news.crunchbase.com/news/briefing-11-12-20/

    [ALT0]

    Continue Reading
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Crunchbase

    The Briefing: Traveloka Eyes $5B SPAC Deal, SnackMagic Lands Series A, And More

    Crunchbase News’ top picks of the news to stay current in the VC and startup world.

    Published

    on

    Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

    Subscribe to the Crunchbase Daily

    Indonesia’s Traveloka said to eye $5B SPAC deal

    Indonesia-based online travel booking platform Traveloka is in advanced talks to go public through a merger with a blank-check acquirer, according to a Bloomberg report citing unnamed sources.

    The company is reportedly seeking to merge with Bridgetown Holdings Ltd., a SPAC backed by billionaires Richard Li and Peter Thiel. The deal could value the travel company at around $5 billion.

    Founded in 2012, Traveloka has raised at least $1.2 billion in known funding, per Crunchbase data.

    — Joanna Glasner

    Funding round

    SnackMagic picks up $15M: SnackMagic, a service for building your own snack box, has reportedly raised $15 million in a Series A round led by Craft Ventures. The company markets its offering as a potential work-from-home employee perk, a sales prospecting tool, or a gift.

    Abzu lands $6M for AI: Abzu, a Danish startup developing AI-based software for use cases including predictions and modeling, raised $6 million in a seed funding round led by Denmark’s Seed Capital and PreSeed Ventures, and Finland’s Inventure.

    — Joanna Glasner

    Illustration: Dom Guzman

    Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

    Source: https://news.crunchbase.com/news/briefing-4-9-21/

    the-briefing:-traveloka-eyes-$5b-spac-deal,-snackmagic-lands-series-a,-and-more

    Continue Reading

    Crunchbase

    Here’s Who’s Gone Public in 2021 (So Far)

    Another year, another list.

    Published

    on

    Another year, another list.

    In past years, we’ve mostly covered venture-backed tech and tech-ish IPOs in this perennial list of startups going public. Occasionally, a direct listing here and there would make the list, but the vast majority of companies going public were doing so through a traditional IPO. This year looks like it will be a bit different, with the increasing popularity of SPACs and new rule changes making direct listings more favorable, now that companies can raise capital through that route.

    Subscribe to the Crunchbase Daily

    So, we’ve adapted our ever-updated Here’s Who’s Gone Public list to fit more with the times, and are including both traditional IPOs and other methods of going public. So far this year, that means IPOs and SPACs.

    While SPACs are going public at a more frequent pace than traditional IPO companies, we’ve included only the ones that have completed a merger with a target company and begun trading as a combined company.

    This list will be updated regularly to keep up with the robust IPO and SPAC pipeline coming up this year, so be sure to check back.

    Most recently updated: April 8, 2021

    IPOsAffirm

    • IPO date: Jan. 13, 2021
    • IPO price: $49
    • IPO valuation: $11.9 billion
    • Initial post-IPO arc: Positive

    In the first venture-backed tech-ish IPO of the year, Affirm saw its stock price jump 100 percent on its first day of trading before closing out at $97.24. Affirm is a big player in the increasingly-popular “buy now, pay later space,” which includes companies like AfterPay and Klarna. Since it went public in mid-January, the company’s stock has moved up and down, but overall its trajectory has been positive. Affirm’s stock closed at $105.55 on Feb. 18.

    Poshmark

    • IPO date: Jan. 14, 2021
    • IPO price: $42
    • IPO valuation: $3 billion
    • Initial post-IPO arc: Negative

    Poshmark’s stock price doubled pretty much right out of the gate, and ended up closing out its first day of trading up 140 percent. The company, which operates a marketplace for new and second-hand clothing and accessories, reached a valuation of $3 billion with its IPO, one of the first of this year. But since Poshmark’s public market debut, its stock has fallen quite a bit. The company’s stock closed at $68.39 on Feb. 18.

    Playtika

    • IPO date: Jan. 15, 2021
    • IPO price: $27
    • IPO valuation: $11 billion
    • Initial post-IPO arc: Positive

    Gaming is all the rage as people look to stay entertained at home during the COVID-19 pandemic. The market response to Playtika reflects that. Playtika’s stock price since its mid-January debut has been mostly positive. The company’s stock closed at $32.56 on Feb. 18, still above its first day of trading close of $31.62.

    Qualtrics

    • IPO date: Jan. 28, 2021
    • IPO price: $30
    • IPO valuation: $15 billion
    • Initial post-IPO arc: Positive

    Qualtrics’ IPO was significant for a couple different reasons. It wasn’t a traditional venture-backed tech company going public, but one that had already been acquired. After SAP acquired the company in 2018 before Qualtrics’ planned IPO, SAP ended up spinning it out in 2021. The IPO was also significant because it ended up being the largest IPO of a Utah-based company. Qualtrics’ public debut valued the company at $15 billion, and its stock price arc has been positive since. Qualtrics’ stock closed at $44.63 on Feb.18.

    Bumble

    • IPO date: Feb. 11, 2021
    • IPO price: $43
    • IPO valuation: $8.2 billion
    • Initial post-IPO arc: Positive

    Bumble’s IPO made founder and CEO Whitney Wolfe Herd a billionaire and the youngest woman to take a company public. It was also a big deal for Texas’ tech scene, as the dating app is a homegrown Austin company. The company raised $2.15 billion through its IPO and its stock closed 64 percent above its IPO price on its first day of trading. Overall, its post-IPO arc since then has been positive, and its stock closed at $74 on Feb. 18.

    Oscar Health

    • IPO date: March 3, 2021
    • IPO price: $39
    • IPO valuation: $7.9 billion
    • Initial post-IPO arc: Negative

    As of this writing, Oscar Health has been a public company for less than three days. So, its negative post-IPO arc should be taken with a grain of salt — especially because the market in general dipped at the end of its first week of trading. That said, Oscar’s public market debut wasn’t like many of the venture-backed IPOs we’ve seen recently where the stock surges right out of the gate. The company initially set a price range of between $32 and $34 before increasing it to between $36 and $38, and pricing at $39. The company closed its first day of trading at $34.80, and its stock closed at $31 on Friday, March 5.

    Coupang

    • IPO date: March 11, 2021
    • IPO price: $35
    • IPO valuation: $60 billion
    • Initial post-IPO arc: Negative.

    While Coupang’s stock popped around 40 percent on its first day of trading, it has trended mostly down since the company went public nearly a month ago. When the company went public in March, it made Coupang the largest IPO of the year so far, according to CNBC. The South Korean e-commerce company’s stock closed at $45.58 on Thursday, April 8.

    DigitalOcean

    • IPO date: March 23, 2021
    • IPO price: $47
    • IPO valuation: $5 billion
    • Initial post-IPO arc: Negative.

    DigitalOcean didn’t exactly start its time trading on the public markets on a high note. The company opened and closed its first day of trading below its IPO price, and its stock has pretty much gone down since then. Since DigitalOcean has been a public company, its stock hasn’t reached the IPO price of $47 that the company had set. The company closed its first day of trading at $42.50, and closed at $40.25 on Thursday, April 8.

    VIZIO

    • IPO date: March 25, 2021
    • IPO price: $21
    • IPO valuation: $3.9 billion
    • Initial post-IPO arc: Positive.

    VIZIO finally made it public this year after filing for an IPO for a second time (it first filed in 2015). The company had a less-than-stellar debut when it began trading at the end of March, with its stock opening nearly 17 percent below its IPO price of $21. Since then, the company’s stock price has increased, reaching a high of $24.72 on March 30. VIZIO’s stock price has tapered off a bit since then, closing at $21.95 on Thursday, April 8.

    ThredUp

    • IPO date: March 26, 2021
    • IPO price: $14
    • IPO valuation: $1.3 billion
    • Initial post-IPO arc: Negative.

    While ThredUp saw its stock close around 43 percent above its IPO price of $14 on its first day of trading, its stock has trended down since it went public at the end of March. ThredUp closed at $18.39 on Thursday, April 8. The company is one of a handful of clothing and accessories resale companies to go public in recent years, including Poshmark and The RealReal.

    Coursera

    • IPO date: March 31, 2021
    • IPO price: $33
    • IPO valuation: $4.3 billion
    • Initial post-IPO arc: Positive.

    Coursera closed its first day of trading at $45, about 36 percent above its IPO price. Since then, the company’s stock price has gone up, closing at $56 on Thursday, April 8. It makes sense given what a big year the edtech space has had. Coursera marks the first major edtech IPO of the year, though it’s possible it won’t be the last. Other edtech companies rumored to be 2021 IPO candidates include Duolingo and Udemy.

    Compass

    • IPO date: April 1, 2021
    • IPO price: $18
    • IPO valuation: $8 billion
    • Initial post-IPO arc: Negative.

    Compass’ IPO comes after a busy year for the residential real estate market. The company, which operates like a brokerage but gives agents a suite of digital tools to better market themselves, raised about $450 million through its IPO. However, in the week that Compass has been public, its stock price has fallen slightly, closing at $21.90 on Thursday, April 8, below its IPO price. The company priced its shares at $18, the low end of its IPO range, after lowering its price range from between $23 and $26 to between $18 and 19.

    Direct Listings

    Roblox

    • First day of trading: March 10, 2021
    • Reference price: $45
    • Valuation: $30 billion
    • Initial arc: Positive.

    Roblox marks both the first major direct listing of the year (in terms of tech companies) and one of the most-anticipated public debuts for gaming companies. The company’s stock surged 43 percent above its reference price and has had a generally positive trend since then, though of course there have been dips here and there. Roblox’s stock closed at $70.76 on Thursday, April 8.

    SPACs Clover Health

    • First day of trading: Jan. 8, 2021
    • SPAC proceeds: Up to $1.2 billion
    • SPAC valuation: $7 billion, according to the Silicon Valley Business Journal
    • Initial stock price arc: Negative

    Clover Health was the first VC-backed company to go public via a special purpose acquisition company, with Chamath Palihapitiya’s SPAC, Social Capital Hedosophia V, acquiring the company. The company’s stock since the merger was completed in early January has trended negatively since it started trading, though, with its stock closing at $10.83 on Feb.18.

    Billtrust

    • First day of trading: Jan. 13, 2021
    • SPAC valuation: $1.3 billion
    • Initial stock price arc: Positive.

    Payment cycle management platform Billtrust went public in mid-January after merging with South Mountain Merger Corp. The company raised $115 million in funding while private and announced plans to go public via a SPAC in the fall. Since the company’s stock started trading, its initial arc has been positive. Billtrust’s stock closed at $18.80 on Feb. 18.

    Hims and Hers Health

    • First day of trading: Jan. 21, 2021
    • SPAC proceeds: $280 million
    • SPAC valuation: $1.6 billion, according to Forbes
    • Initial stock price arc: Positive

    Hims and Hers Health, which initially started out as a company aimed toward men’s health issues, went public after merging with special purpose acquisition company Oaktree Acquisitions Corp. The deal was among the first major VC-backed SPAC mergers to be completed in 2021, and raised proceeds of about $280 million. Since the combined company’s stock started trading, its stock price has been trending up and closed at $19.01 on Feb. 18.

    ChargePoint Holdings

    • First day of trading: Feb. 26, 2021
    • SPAC proceeds: $450 million, according to Inside EVs.
    • Initial stock price arc: Negative

    Companies in the electric vehicle space are evidently popular targets for SPACs, and ChargePoint is among them. The company, which is based in Campbell, California, went public by merging with special purpose acquisition company Switchback Energy Acquisition Corp. Since the company completed the merger on Feb. 26 and began trading (closing at $30.83 last week), its stock has fallen a bit, closing at $26.13 on Friday, March 5.

    Metromile

    • First day of trading: Feb. 9, 2021
    • SPAC proceeds: Unclear
    • Initial stock price arc: Negative

    Digital insurance platform Metromile went public by merging with blank-check company INSU Acquisition Corp. II. The company, which is backed by investors including Index Ventures and Future Fund, follows other insurtech companies like Lemonade and Root to the public market, though through a SPAC rather than a traditional IPO. The company’s stock has mostly trended down since then, closing at $10.45 on Friday, March 5.

    Illustration: Dom Guzman

    Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

    So, we’ve adapted our ever-updated Here’s Who’s Gone Public list to fit more with the times, and are including both traditional IPOs and other methods of going public. So far this year, that means IPOs and SPACs.

    Source: https://news.crunchbase.com/news/heres-whos-gone-public-in-2021-so-far/

    here’s-who’s-gone-public-in-2021-(so-far)

    Continue Reading

    Crunchbase

    The Briefing: Gupshup Raises $100M, Oda Bags Big Round For Groceries

    Crunchbase News’ top picks of the news to stay current in the VC and startup world.

    Published

    on

    Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

    Subscribe to the Crunchbase Daily

    Gupshup raises $100M

    San Francisco-based Gupshup, a provider of conversational messaging tools, announced it has raised $100 million in fresh funding from Tiger Global Management.

    The financing sets a valuation of $1.4 billion for Gupshup, which says its API currently enables over 100,000 developers and businesses to build messaging and conversational experiences, used in over 6 billion messages per month.

    Gupshup has not raised a funding round since 2011, with total prior funding of around $44 million, per Crunchbase data. The company says it closed out 2020 with an annual revenue run rate of approximately $150 million.

    — Joanna Glasner

    Funding rounds

    Norway’s Oda bags $265M for grocery delivery: Oda (formerly Kolonial), a Norwegian online grocery delivery provider, raised 223 million euros ($265 million) in a funding round led by Prosus NV and SoftBank. The company plans to use the funds for international expansion.

    — Joanna Glasner

    Redis Labs raises $110M Series G: Database platform Redis Labs has closed a $110 million Series G funding round led by Tiger Global. The round brings the 10-year-old, Mountain View-based company’s valuation up to $2 billion.

    — Joanna Glasner

    Illustration: Dom Guzman

    Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

    The financing sets a valuation of $1.4 billion for Gupshup, which says its API currently enables over 100,000 developers and businesses to build messaging and conversational experiences, used in over 6 billion messages per month.

    Source: https://news.crunchbase.com/news/briefing-4-8-21/

    the-briefing:-gupshup-raises-$100m,-oda-bags-big-round-for-groceries

    Continue Reading

    Title

    Cointelegraph15 hours ago

    Binance Coin reaches 37% of Ethereum’s market cap: 3 reasons why BNB is soaring

    Binance Coin (BNB), the native cryptocurrency of Binance Smart Chain, has been rallying after seeing an uptick in transaction volume.

    Techcrunch18 hours ago

    Cruise strikes deal to launch robotaxi service in Dubai – TechCrunch

    Cruise has expanded its robotaxi ambitions beyond San Francisco. The autonomous vehicle subsidiary of GM that also has backing from...

    ZDNET21 hours ago

    Tencent Cloud pledges SEA expansion with launch of Indonesia data centre

    Chinese internet giant launches its first data centre in Indonesia, with plans to open a second one in the Southeast...

    Crunchbase23 hours ago

    The Briefing: Traveloka Eyes $5B SPAC Deal, SnackMagic Lands Series A, And More

    Crunchbase News' top picks of the news to stay current in the VC and startup world.

    Entrepreneur1 day ago

    Stan Lee, superheroes and the weaknesses of the entrepreneur

    He was the legendary creator of some of the most iconic characters in pop culture, including Spider-Man and the Hulk....

    Business insider2 days ago

    Elon Musk’s Neuralink scientists are not the first to get a monkey to control a computer with its mind

    Elon Musk. Britta Pedersen-Pool/Getty Images Elon Musk's Neuralink showed off its technology allowing a monkey to play video games with...

    Reuters2 days ago

    Myanmar security forces with rifle grenades kill over 80 protesters – monitoring group

    Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people,...

    Blockchain news2 days ago

    WWE Plans to Release the Undertaker NFTs Ahead of WrestleMania 37

    The World Wrestling Entertainment (WWE) has announced that it will release non-fungible tokens (NFTs) featuring the Undertaker ahead of WrestleMania...

    CNBC2 days ago

    Biden has options beyond a corporate tax hike to pay for infrastructure, as negotiations get underway

    As Biden tries to curry favor for a corporate tax hike, the administration has other ways it could fund a...

    Bioengineer3 days ago

    Solving the puzzle of polymers binding to ice for Cryopreservation

    Credit: Credit: University of Warwick Cryoprotectants are used to protect biological material during frozen storage They have to be removed

    Review

      Select language

      Trending