CVS Health turning drugstores into super-clinics; BetterUp raises another round for $5B valuationRead more...
Chrome River announced $100M; Adaptive Insights raised $75M; Spire scored $40M
- Chrome River Technologies, a company that automates the process for employees getting reimbursed for their expenses, saving companies time and money in the process, announced a big new $100 million Series D funding round from Great Hill Partners. Financial Technology Partners LP and FTP Securities LLC served as exclusive financial and strategic adviser to Chrome River in this transaction.
- Cloud corporate performance management (CPM) company Adaptive Insights raised a $75 million funding round. The funding came from new investor JMI Equity, along with existing investors Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Monitor Ventures, and Information Venture Partners. This round brings the company's total funding to $176 million. The company says it will use the funding for product development and expansion, especially internationally, where it saw 75% year-over-year growth in the first quarter of this year.
- Spire, a satellite-powered data company scored a $40 million Series B round of funding. The round was led by Promus Ventures with participation from new investors Bessemer Venture Partners and Jump Capital, as well as existing investors RRE Ventures and Lemnos Labs, among others. To date, Spire has secured just over $80 million through three rounds of funding. So far, the company has only launched four satellites, but will use this funding to deploy another 20 between now and the end of the year. Then it will launch a new one every month.
- Twtrland, which wants to make comprehensive social media analytics easy to understand, got $1.5 million in new funding from Altair, GIG, and TMT. It is also rebranding as Klear, since the platform now looks at data from Facebook and Instagram in addition to Twitter, and plans to integrate other social networks, including Pinterest, Google Plus, and LinkedIn. Along with an earlier seed round, its latest funding brings Klear’s total raised so far to $2 million.
- One Month, a New York City-based startup raised an additional $1.9 million, co-led by Arena Ventures and previous investor, Idea Bulb Ventures. Cornerstone OnDemand also participated through the Cornerstone Innovation Fund. This funding comes almost exactly a year after One Month raised $770,000 in June 2014. Check out our brief interview with Founder and CEO Mattan Griffel.
- Bangalore-based startup Flatchat, a mobile only app for students and bachelors to find accommodation and flatmates, raised $2.5 million from CommonFloor.com. With the raised capital Flatchat is aiming to make its product team stronger by hiring the best product and engineering talent. The fund will also be used to scale up operations and establishing foothold across the country especially in the cities which have a higher population of students and bachelors.
- SimplyInsured, which helps small businesses compare and purchase employee health insurance plans, closed a Series A of $5.9 million led by Polaris Partners, with participation from Bessemer Venture Partners, Altair.VC, Corazon Capital, and individual investors. SimplyInsured’s Series A will be used to increase the size of its sales and marketing team, which currently has five people, to about 20 to 30 employees.
- MangoPlate, a South Korean restaurant discovery service, closed an additional $6.1 million funding round. Backers included Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, as well as SoftBank Ventures Korea and YJ Capital, a venture capital firm established by Yahoo! JAPAN. The company, which has raised over $7.2m, intends to use the funds to to focus more on customer acquisition, feature enhancement and POI expansion throughout Korea.
- Seattle-based eSports betting platform Unikrn landed $7 million from a list of well-known investors and celebrities, including Mark Cuban, the owner of the NBA’s Dallas Mavericks and the star of the hit show “Shark Tank.” The cash being announced will go towards hiring and a marketing budget.
- Kentik, formerly known as CloudHelix, launched from stealth today with the industry's first cloud-based network visibility and analytics solution capable of processing trillions of network data records per day and providing critical network intelligence at multi-terabit scale in real time. Kentik also closed a $12.1 million Series A funding round led by August Capital, and with increased support from Kentik's seed investors, to position the company for continued, rapid growth.
- SkyKick announced the launch of a new category of cloud management products called Cloud Management-as-a-Service (CMaaS) designed to help information technology (IT) solution providers manage their customers’ cloud-based applications from one single platform. SkyKick also secured $10 million in strategic financing bringing its total capital raised to $17.2 million. SkyKick will use the additional funding to accelerate product development, and expand sales and marketing to support the global demand for its cloud management platform. This investment round was led by its current base of investors including former Qwiki COO Navin Thukkaram, Top 20 Angel Investor Tim Ferriss, and several strategic private equity investors.
- Venafi, a Salt Lake City-based developer of cybersecurity company, received $39 million in additional funding. The round was led by QuestMark Partners and other new investors Intel Capital and Silver Lake Waterman and existing investors. The investment will accelerate development of the Venafi Trust Protection Platform™ and support its worldwide customer base.
- A U.K. banking startup Mondo — whose founders include GoCardless co-founder Tom Blomfield — raised its £2 million first funding round led by Passion Capital. Mondo is aiming to be a digital bank with no physical locations. This should enable it to significantly reduce the overheads normally associated with running a bank.
If you are interested in being included in our funding roundup, submit your press release or blog post about your financing round to email@example.com.
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Read more from our "Daily Funding Roundup" series
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In 1911, Henry Phipps founded Bessemer Securities to reinvest the proceeds of his sale of Carnegie Steel for the benefit of his descendents. The start-up investment operations were spun out into Bessemer Venture Partners, which now operates out of seven offices around the globe.