Daily Funding Roundup


Daily funding roundup - November 20, 2015

Le Tote secured $15M; MindTickle landed $12.5M; Hover raised $6M funding

Innovation series by Mitos Suson
November 20, 2015
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  • Hover has announced that it has raised $6 million in a Series A financing round. Alsop Louie Partners led the round with participation from existing investors, including Almaz Capital and Maverick Investments. The additional funds comes 19 months after the company raised $5.1 million in its initial Series A, and brings its total funding to $17.3 million. Hover has two apps. The first one is free, and it generates a scaled 3D model of a home based on eight photos submitted via a smartphone. The second is its Pro upgrade, which is targeted toward home improvement professionals.

  • Airbnb, an online marketplace for listing and booking accommodations around the world, has reportedly raised over $100 million in a new round of funding, according to sources close to the matter (via the Wall Street Journal). The new round reportedly values Airbnb at $25.5 billion, which was the same valuation given when the company closed a massive $1.5 billion private equity round over the summer. In total, Airbnb has raised nearly $2.3 billion over the past half decade from Andreessen Horowitz, Founders Fund, General Atlantic, Hillhouse Capital Group, Sequoia Capital, and Tiger Global Management. After ride-hailing services Uber ($6.3B) and Didi Kuaidi ($4.4B), Airbnb is the third most well-funded company in the collaborative economy.

  • Volt Athletics is raising more money to fuel growth of its online fitness training platform. The Seattle-based startup has reeled in another $1 million from unnamed angel investors to push total funding to $2 million for the two-year-old company. The fresh cash will be used to develop Volt’s platform, which offers a customizable online fitness training platform for athletes, and help the startup expand to new markets.

  • Ryde, a Singapore-based carpool app, raised $1.5 million in seed fundingBackers included strategic angel and private investors. The company plans to use the funds to scale its application for expansion into overseas markets. Founded by Terence Zou, a Harvard Business School graduate, Ryde uses GPS technology and a proprietary algorithm to match drivers to riders. Launched in April 2015, the company has grown to more than 10,000 active users to date.

  • Freebird, Inc., a Cambridge, MA-based company that allows travelers to rebook following a flight cancellation, secured $3.5 million in funding. Backers included General Catalyst, Accomplice, Slow Ventures, and other angel investors. The company is using the funds to expand operations.

  • Pritzker Group Venture Capital led a $7.5 million investment in Viv Labs, an AI company launched by Kittlaus. Braintree founder Bryan Johnson's OS Fund also contributed. Pritzker led a $12.5 million round of funding for Viv earlier this year. The three-year-old company has about 20 employees and so far has raised about $30 million from investors that include Johnson, San Francisco-based Iconiq and New York-based Tiger Global Management.

  • Sidecar, an e-commerce marketing technology that programmatically connects retailers' products to the most relevant consumers, announced Friday that it has completed a Series B round of financing totaling $8 millionBoston-based Ascent Venture Partners led the round, with Osage Venture Partners and other new and existing institutional and angel investors participating. Sidecar will use the funds to further develop technologies that optimize product advertising channels, which have seen a surge in growth and popularity in 2015 with the rollout of Google Shopping and Facebook Dynamic Products Ads. Sidecar will also make significant investments in sales and marketing to continue fueling growth and satisfying the demand for its award-winning marketing technology.

  • Apsalar, a mobile ROI platform that empowers app marketers to drive extraordinary business growth, announced an $8 Million funding round. The round includes first-time investment from YJ Capital, a CVC of Yahoo Japan, as well as additional funding from Thomvest Ventures and DCM Ventures2015 has been a dramatic growth period for Apsalar, with revenues climbing more than 500%.

  • Pune and Sunnyvale based MindTickle, a startup which addresses sales productivity, has raised Series A funding worth $12.5 million (Rs 82.6 crore) led by New Enterprise Associates (NEA), with participation from Qualcomm Ventures and existing investor Accel Partners, reports ET. The company will use the funding for software product development. MindTickle had previously raised $1.8 million worth seed funding from Accel Partners and Moneta ventures in October last year. Ravi Viswanathan, general partner at NEA will join the company’s board.

  • Le Tote, an on-demand fashion rental service providing members with unlimited clothing and accessories delivered directly to their door, announced a $15 million Series B funding round led by AITV with participation from existing investors Lerer Hippeau Ventures, Azure Capital, Simon Venture Group, Epic Ventures and Funders Club. The investment will enable Le Tote to continue strategically building its executive team, make further investments in technology and accelerate overall company growth.

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