BREAKING:
Rapid7 acquires cloud infrastructure automation platform DivvyCloud for $145 million
Security data and analytics solutions provider Rapid7 today announced its intent to acquire DivvyCloud, a startup developing a cloud infrastructure automation platform, for approximately $145 million in cash and stock. The companies expect
the deal to close during Q2 2020, subject to approval and closing conditions. The acquisition — which comes two years after Rapid7’s initial public offering — is a spot of bright news in a startup ecosystem that’s seen hundreds of companies lay off workers since March, owing to coronavirus headwinds. And it points to the cybersecurity market’s strength at a time when enterprises are experiencing a spike in malware campaigns using coronavirus misinformation. Barracuda Networks reports that it saw a 667% increase in phishing emails linked to the coronavirus during the month of March. [ Venture Beat ]
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1.
SkyCell raises $62M for smart containers and analytics to transport pharmaceuticals
While human travel has become severely restricted in recent months, the movement of goods has remained a constant priority — and in some cases, has become even more urgent. Today, a startup out of Switzerland that builds hardware and operates a logistics network designed to transport one item in particular — pharmaceuticals — is announcing a significant round to fuel its growth. SkyCell — a designer of “smart containers” powered by software to maintain constant conditions for drugs that need to be kept at strict temperatures, humidity levels, and levels of vibration, which are in turn used to transport pharmaceuticals around the globe on behalf of drug companies — is today announcing. that it has raised $62 million in growth funding. [ Tech Crunch ]
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2.
GV joins $50 million round in Rome Therapeutics to research ‘junk DNA’ for cancer therapies
Rome Therapeutics, a biotechnology startup that’s using machine learning (ML) to explore the human genome and develop new treatments for cancer and autoimmune diseases, has launched out of stealth today with $50 million in series A funding from GV, Arch Venture Partners, and Partners Innovation Fund. Rome was incubated inside GV by CEO and cofounder Rosana Kapeller (M.D., Ph.D.), who has been an entrepreneur in residence at Alphabet’s venture capital arm since 2018. But Rome is just the latest in a batch of biotech companies GV has invested in, with AI and ML a common theme — armed with algorithms, researchers can crunch far bigger datasets than humans alone could achieve. [ Venture Beat ]
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3.
The Data-Driven Enterprise: Our Investment Thesis in Tecton
There is massive technological evolution underway in the enterprise today. Software has indeed eaten the world but data has emerged as this new world’s most valuable resource. Companies big and small are investing at record levels to collect, categorize, stream, integrate, analyze and act upon data. The amount of information available to the enterprise in this software-dominated world has surpassed any past expectations and the insights data provides are unlocking new opportunities. Nearly every enterprise we encounter wants to gain the most it can from this powerful often proprietary resource. [ Medium ]
4.
Founded by Creators of Uber Michelangelo, Tecton.ai Launches to Make World-Class Machine Learning Accessible to Every Company With $25 Million From Andreessen Horowitz and Sequoia
Today Tecton.ai emerged from stealth and formally launched with its data platform for machine learning. Tecton enables data scientists to turn raw data into production-ready features, the predictive signals that feed machine learning models. Tecton is in private beta with paying customers, including a Fortune 50 company. Today Tecton.ai also announced $25 million in seed and Series A funding co-led by Andreessen Horowitz and Sequoia. Both Martin Casado, general partner at Andreessen Horowitz, and Matt Miller, partner at Sequoia, have joined the board.[ globe news wire ] Checkout 15K+ Venture Capital Data on our platform.
5.
Velo3D Lands $28M Series D
3D printing startup Velo3D has raised $28 million in a new round of funding, the company announced Tuesday. The Series D round brings Velo3D’s total funding to $138 million, according to the company. It included participation from new investors Piva and TNSC, along with existing investors Bessemer Venture Partners, Khosla Ventures and Playground, according to a statement from the company. Velo3D combines software and hardware for 3D metal printing. The Campbell, California-based company was founded in 2015, but was in stealth for four years. In 2019, it introduced its Sapphire Printer, and the company landed more than $30 million in sales. [ Crunchbase ]
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6.
Starcity Raises $30 Million In A Post-WeWork, COVID Crisis To Scale Its Affordable Co-Living Spaces
In a city like San Francisco, there are generally two options when it comes to apartment rentals: Go for the expensive, luxury high-rise buildings or spin the Craigslist roulette, with the risk of ending up in someone’s living room. In 2016, Starcity saw an opportunity to bridge this gap and created affordable co-living spaces in the Bay Area. Four years later, the company has 12 locations across San Francisco, Oakland and Los Angeles, and announced today its Series B round of $30 million.
Investors include Bullpen Capital, Deciens Capital, Pay It Forward VC, Peak State Ventures, Reshape and Y Combinator. [ Forbes ] Checkout 15K+ Venture Capital Data on our platform.
7.
Catalyst Raises $25M At $125M Valuation To Grow Its Customer Success Platform
New York-based Catalyst, which has developed a customer success platform, today announced a $25 Million Series B funding round led by Spark Capital. Existing backers Accel, True Ventures, Ludlow Ventures and Work-Bench all participated in the investment, which brings the startup’s total raised since its 2017 inception to $45.4 million, according to Crunchbase. The round comes just nine months after Catalyst closed on an Accel-led $15 million Series
A, and values the startup at $125 million, according to sources familiar with the transaction. Like many startups, Catalyst was born out of a need. Co-founder Edward Chiu had led a
customer success organization for another startup, DigitalOcean, from scratch. (By customer success, by the way, Catalyst means giving a business the means to mobilize their customers, measure satisfaction and grow their business.) [ Tech Crunch ]
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8.
Particle Health Raises $12M Series A led by Menlo Ventures
Today, Particle Health announced its $12 million Series A funding led by Menlo Ventures, with participation from existing investors Collaborative Fund, Story Ventures and Company Ventures. Additional individual angel investors include executives from Flatiron Health, Clover Health, Plaid, Petal and Hometeam. Greg Yap, Partner at Menlo Ventures, joins the Particle Health board of directors. [ olean times herald ] Checkout 15K+ Venture Capital Data on our platform.
9.
From B2B To D2C: Cheetah Raises $36M For Contactless Food Pickup & Delivery
10.
Tomorrow Health wants to upend a $55 billion market by reinventing how Americans shop for medical equipment
Millions of Americans are living with chronic health conditions or recovering from injuries at home. And the coronavirus pandemic has made it more difficult to seek care at hospitals or obtain medical equipment from stores. In addition, the process of getting that equipment, which can range from crutches to CPAP machines to ostomy supplies — can be complicated, frustrating, and costly. Vijay Kedar and Gabe Flateman, the founders of Tomorrow Health, a health-tech startup backed by Andreessen Horowitz, hope to improve the experience and save patients money. If successful, they could be tapping into a roughly $55 billion medical-equipment market. [ Business Insider ] Checkout 15K+ Venture Capital Data on our platform.
11.
Medici Raises $24M While Telehealth Is Thriving
Telehealth is booming during the COVID-19 pandemic. Not only are people paying close attention to their health because of the disease, stay-at-home orders mean that people are shifting aspects of their lives online. These two factors are a boon for telehealth providers, and healthtech startup Medici has experienced this firsthand. [ Built In Austin ] Checkout 15K+ Venture Capital Data on our platform.
12.
Spark fast follows with a $25M Series B round into customer success platform Catalyst
The world has been turned upside down the past few weeks, but one lesson of business remains as important as ever: treating your customers well is the best avenue to future business strength, particularly at a moment of extreme stress. As businesses come to terms with the economic crisis underway, executives are moving resources from customer acquisition to customer retention — and that’s proving very lucrative to startups that service the customer success market. [ Tech Crunch ] Checkout 15K+ Venture Capital Data on our platform.
13.
'Psyched': ATAI Closes $24M Convertible Round, MindMed To Begin Trading On OTCQB, Investor Presentations Available Online
On Thursday, biotech company ATAI Life Sciences announced the closing of a $24-million financing round. The company focuses on developing psychedelic and non-psychedelic solutions for mental health conditions. ATAI raised the money through aconvertible note financing round, with venture capitalists Peter Thiel — co-founder of PayPal Holdings Inc PYPL 3.64% — and Steve Jurvetson taking part in the round. "Both Peter and Steve have been prescient in identifying paradigm shifting enterprises and we're honoured by their trust in ATAI's vision,” said Christian Angermayer, founder of ATAI. The company also announced that Jason Camm, managing director and chief medical officer at Thiel Capital, has joined ATAI's board of directors. [ benzinga ]
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14.
Why you should create custom benchmarks when comparing private market funds
A fund benchmark is a performance yardstick: It provides a standard for comparison. In the private markets, benchmarking provides a way for limited partners (LPs) and general partners (GPs), to gauge the performance of individual funds and evaluate broader performance across asset classes. However, unlike in the public markets—which have widely used indexes for different market segments, such as the S&P 500 and Dow Jones Industrial Average—the private markets have no single “standard” measure for assessing a fund against its peers. [ Pitchbook ]
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15.
Europe's innovation to keep drawing venture capital interest despite pandemic
Innovative European businesses will once again amass large amounts of venture capital once the short-term investment hiatus caused by the coronavirus pandemic passes, according to market sources. Over the past five years, Europe has become a thriving innovation hub with tech and healthcare startups attracting increasing interest from venture capital investors. European startups racked up roughly $122 billion of venture capital over the period, with investment hitting a record $36.05 billion in 2019, more than double the $17.68 billion raised in 2015, data from investment intelligence platform Crunchbase shows. [ S&P Global ]
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