Daily Funding Roundup


Daily funding roundup - June 25, 2015

Postmates landed $80M; Bitsight raised $23M; Celect nabbed $5M

Innovation series by Mitos Suson
June 25, 2015
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  • Postmates, a delivery platform, raised an $80 million funding round led by Tiger Global Management. A Postmates spokesperson also revealed to VatorNews that Slow Ventures participated in the round as well. As part of the funding, Lee Fixel, a partner at Tiger Global, will be joining the Board of Directors at Postmates. This new funding follows the $35 million round that the company picked up in February, and it brings the company's total amount raised to $138 million. Previous investors included Spark Capital, AngelPad, SoftTech VC, Founders Fund Expansion Venture Capital and Crosslink Capital. The company is now valued at close to $500 million.

  • Cybersecurity is becoming a hot space right now, and BitSight is a company tackling it from a different angle. That approach has attracted the attention of VCs, who just infused the company with a $23 million Series B round of fundingComcast Ventures joined as a new investor in the round, along with current investors Menlo Ventures, Globespan Venture Partners, Commonwealth Capital Ventures, Shaun McConnon and Flybridge Capital Partners, all participating. Managing Director David Zilberman led the investment for Comcast Ventures. The company had previously raised $26 million, including a $24 million round in 2013. With this latest funding, BitSight has raised a total of $49 million.

  • Boston-based startup, Celect hopes it can enhance a retailer's ability to stock its shelves with an assortment of products that a customer may want to buy. And it's raised $5 million in Series A, led by August Capital, with participation from Activant Capital Group, to do so.
    With the new funds, Celect plans to roll out its software across The Bon-Ton Stores, a regional department store with 270 locations.

  • Thai gamification startup Playbasis has received US$1.8 million in a series A funding round. The round was led by Thailand’s InVent, a venture capital firm owned by holding company Intouch Holdings, which put in US$1.5 million. The funding was topped up by Playbasis’ existing investors Cherubic Ventures and 500 Startups. Ardent Capital, an early investor, was not mentioned in this round.

  • The copywriting, translation, and proofreading platform TextMaster  raised a funding round of $5 million from leading investor Serena Capital, with additional funds coming from former investor Alven Capital. The Belgian startup has raised about $8 million total since its birth in 2011. This is the second funding round of $5M or more this week for Belgian startups, which received just $100 million in VC funding in 2014. The first was a $6 million round announced by TextMaster’s startup studio co-founder, eFounders, on Tuesday.

  • Lost My Name, a London, U.K-based kids’ personalized publishing and entertainment startup, completed a $9m Series A round of financing. Backers included Google Ventures, Greycroft, The Chernin Group, Allen & Co, and former SunGard President and CEO Cris Conde. The company intends to use the funds to further globally scale its business. Co-founded by Asi Sharabi and Tal Oron, Lost My Name combines stories with technology to create personalised experiences for kids. Its first project is the personalized picture book “The Little Boy/Girl Who Lost His/Her Name”, which has already sold 600,000 copies in more than 135 countries. The second publishing project, a new picture book that engages children in the theme of belonging and their place in the universe, launches this fall.

  • Marketing technology business Yieldify,  secured $11.5 million Series A funding from SoftBank Capital and Google Ventures. The Series B round, significantly larger than its previous $1.2 million from Hoxton Ventures and Robert Klein, will be used to fuel expansion into new markets including New York, as well as to hire new staff – specifically data scientists and engineers.

  • After five years of research and $13 million in venture fundingEargo has created a hearing device that people actually want to wear. Launching out of beta today, Eargo’s invisible, rechargeable hearing aid is modeled after the fishing fly, of all things.The startup recently closed a $13 million Series A round led by Maveron, with participation from Dolby Family Ventures, Crosslink Capital, Birchmere Ventures and others.

  • WeWork, which sublets office space to budding entrepreneurs, raised a new round of capital at a valuation of $10 billion, people with knowledge of the matter said. That is twice what the startup was worth in its Series D round last December, said the people, who asked not to be identified because the information is private. WeWork, with 23,000 customers in 32 locations from Seattle to Tel Aviv, offers memberships for as little as $45 per month. The New York-based company portrays itself as a new kind of workplace, complete with beer and neon-lit slogans such as “Never Settle Ever.”

  • Matterport, a leader in computer vision technology and immersive media, landed a $30 million Series C financing led by Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures. GIC joined as a new investor and existing major investors participated in the round as well. Since 2014, Matterport has raised a total of $56M. 

  • LittleBits, a 3.5-year-old, New York-based maker of electronic components that both children and designers can snap together to create everything from toy robots to lightweight industrial products, secured $44.2 million in Series B funding led by DFJ Growth, with managing director Barry Schuler joining the board.

  • Fusion Microfinance Pvt Ltd has raised Rs 53 crore ($8.3 million) in Series C round of funding from Belgian Investment Company for Developing Countries SA, (BIO) and Oikocredit, it said on Thursday. Founded in 2010, Delhi-based Fusion predominantly operates in rural and semi-urban areas offering financial services to women in six states: Madhya Pradesh, Uttarakhand, Uttar Pradesh, Haryana, Delhi and Bihar through 84 branches. With this fund infusion, Fusion aims to consolidate its position in North-Central India while looking at acquisition targets in the financial services space. Fusion will also strengthen its team and invest in new technologies to increase efficiencies and turnaround time.

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