• StrictlyVC: September 16, 2015

    Hi and happy Wednesday, everyone. Can’t wait to see many of you at our event tonight! Just a reminder that Autodesk will start checking in people at 5; we’ll kick off the content at 5:45.

    —–

    Top News in the A.M.

    New York Mayor Bill de Blasio said yesterday that within 10 years, all of the city’s public schools will be required to offer computer science to all students.

    —–

    Bill Gurley Openly Questions Certain High-Flying Brands

    Yesterday, at an interview sponsored by the Benchmark-portfolio company Sailthru, legendary VC Bill Gurley appeared on stage with Bloomberg reporter Emily Chang to discuss the future of e-commerce.

    Gurley spent much of the talk addressing the importance of personalization and the opportunity that companies miss when they focus on acquiring new customers rather than optimizing their services for current users. (Sailthru sells personalized marketing technology to its customers.)

    But Gurley also talked at length about a few well-known, well-funded startups, and he didn’t hold any punches when it came to sharing those about which he’s pessimistic.

    More here.

    —–

    New Fundings

    Agora, a 1.5-year-old, Palo Alto, Ca.-based startup that enables enterprises to add real-time voice and video communications for applications, has raised $20 million in Series B funding from Morningside Ventures, SIG, GGV CapitalShunWei and IDG Ventures. More here.

    Alector, a two-year-old, San Francisco-based company that’s developing immuno-modulatory therapies for Alzheimer’s disease and other neurodegenerative disorders, has raised $32 million in Series C funding led byMRL Ventures, with participation from OrbiMed, Polaris Partners, Google Ventures, Topspin Partners and Mission Bay Capital. More here.

    Hyperloop Technologies, the 1.5-year-old, L.A.-based tubular transportation startup that’s rethinking how high-speed transportation services work, tells TechCrunch that it’s currently raising $80 million in Series B funding. The company had earlier raised $11.1 million from investors, including Formation 8, Crispian Venture Capital, SherpaCapital, and ZhenFund. The company has also appointed a new CEO — Rob Lloyd, who had been president at Cisco — and added former Snapchat COO Emily White as a board observer. More here.

    Iron.io, a four-year-old, San Francisco-based company that provides cloud-based message queueing and task processing to make users’ apps more scalable and durable, has raised $8 million in Series A funding led by Baseline Ventures, with participation from Bain Capital Ventures, Divergent Ventures, Ignition Partners, and Cloud Capital Partners. The company previously raised 5.5 million in seed funding. TechCrunch has more here.

    LearnUp, a four-year-old, San Francisco-based job training and placement platform enabling employers to pre-train and hire individuals for entry-level jobs, has raised $8 million in Series A funding co-led by New Enterprise Associates and Shasta Ventures. Other participants include Greylock Partners, Floodgate, and High Line Venture Partners.

    Lightspeed POS, a 10-year-old Montreal-based company whose apps and other services held retailers manage and sell inventory across both online and offline shopfronts, has raised $61 million in Series C funding co-led by Caisse de dépôt et placement du Québec and Investissement Québec, with participation from earlier investors Accel Partners and iNovia. The company has now raised $126 million altogether. More here.

    Neighborly, a 3.5-year-old, San Francisco-based marketplace that makes it easy for users to buy municipal bonds, has raised $5.5 million in Series A funding from Formation 8 and Sound Ventures. TechCrunch has more here.

    Oscar, the two-year-old, New York-based tech-driven health insurance company, has raised $32.5 million from Google Capital at a $1.75 billion valuation, up from a valuation of $1.5 billion when the company last took funding in April. Oscar has now raised roughly $350 million altogether. The WSJ has more here.

    Panopoly.io, a seven-month-old, Tel Aviv, Israel-based data warehousing platform that recently launched its private beta, has raised a $1.3 million seed round from Blumberg Capital, 500 Startups, and FundersGuild. TechCrunch has more here.

    TeamSnap, a six-year-old, Boulder, Co.-based tool for coordinating sports and other activities, has raised $10 million in Series B funding led by Northgate Capital, with participation from Colorado Impact Fund, Crawley Ventures and earlier investor Foundry Group.

    —–

    Exits

    Accenture has acquired Cloud Sherpas, an eight-year-old, Atlanta, Ga.-based cloud consultant, for undisclosed terms. Cloud Sherpas had raised more than $60 million in funding, including from Columbia Capital, Syncarpha CapitalDelta-v Capital, Greenspring Associates, Queensland Investment Corp.,Vento Security Holdings and Hallett Capital.

    Leap Transit, a two-year-old, San Francisco-based startup that served fresh-pressed juice to commuters on its luxury buses, has filed for bankruptcy. The company was backed by at least $2.5 million from Andreessen HorowitzIndex Ventures, Slow Ventures and Salesforce CEO Marc Benioff.

    Snapchat has acquired Looksery, a two-year-old, San Francisco-based startup whose face tracking and modifying technologies can be applied to selfies to alter the way the user appears. A Ukranian news outlet pegged the price for the company at $150 million, a total that Snapchat would not confirm yesterday.More here.

    Unruly, a nine-year-old, London-based digital ad tech company whose services help track and step up engagement, is being acquired by News Corp. in a deal worth up to $176 million, including the “achievement of certain performance objectives.” According to CrunchBase, Unruly had raised at least $25 million in venture funding, including from Endeit Capital and Amadeus Capital Partners. More here.

    —–

    People

    Enterpreneur Anjula Acharia-Bath as joined Trinity Ventures as a non-investing partner. She plans to focus on diversity, female founders, and Hollywood. TechCrunch has more here.

    Former Evernote CEO Phil Libin has joined General Catalyst Partners as its fourth general partner in Silicon Valley. We talked with him about the move here.

    Maureen Sullivan, president of AOL.com and the company’s lifestyle brands, is departing AOL to join Rent the Runway, where she will be president of the startup’s a la carte fashion rental business. TechCrunch has more here.

    —–

    Jobs

    North Atlantic Capital is looking to hire an associate. The job is in Portland, Me.

    —–

    Essential Reads

    The number of Tesla employees leaving the electric carmaker for Apple’s vehicle group is beginning to affect Tesla’s future product roadmap, reports AppleInsider.

    “Dislike” button?  Facebook says no, but it may add an alternative to the “like” button.

    How to build a great social media reputation (even for a fake business) quickly and cheaply.

    Periscope is the “it” app for brands during Fashion Week.

    —–

    Detours

    When it rains in L.A. . .

    The number one trait that HBS looks for in MBA candidates.

    In table tennis, an epic 42-shot rally.

    —–

    Retail Therapy

    Amazon — whose founder, Jeff Bezos, now owns the Washington Post — is smartly offering a free, six-month subscription to the paper’s national digital edition to Prime members for free (a savings of roughly $60). Stay on as a subscriber afterward, and pay just $3.99 a month.

  • StrictlyVC: September 15, 2015

    Hi, happy Tuesday morning, everyone. We’re racing off to watch an interview with Bill Gurley this morning but we’ll see you back here tomorrow!

    —–

    Top News in the A.M.

    Salesforce is diving into the Internet of Things, it announced this morning.

    —–

    Ben Narasin Joins Canvas Venture Fund as a GP

    Ben Narasin was, until recently, president of TriplePoint Ventures, the seed equity practice of TriplePoint Capital. As of this morning, he’s instead the fifth general partner with Canvas Venture Fund, which spun out of Morgenthaler Ventures two years ago.

    Given Narasin’s background — he founded the e-commerce site FashionMall.com during the last tech boom; he has also made 75 seed-stage investments using his own personal capital —  he brings some very specific ideas to the job. We talked with him about them yesterday.

    Why Canvas?

    It was one off a handful of firms that had spent time talking with me over the last year and I’d known all the partners here for between six and eight years. [General Partner] Paul Hsiao and I had worked on things together, starting with the very first deal I’d looked at, a wind turbine company. He was at [the firm New Enterprise Associates] at the time and didn’t do it. I did, and it went to zero, but the second investment I made, Lending Club, is now a public traded company that’s worth billions of dollars. And I fortunately invested a lot more in Lending Club.

    You’ve made a lot of smart seed bets, including on Dropcam [sold to Nest Labs for $555 million last year] and [the highly valued HR software company] Zenefits. But you seem to have a particular penchant for financial tech. In addition to Lending Club, I see [the still private held lending company] Kabbage and [the mobile payment startup] Check [sold to Intuit for $360 million last year] in your portfolio.

    I don’t focus primarily on fintech, but it’s a big part of what I’ve done. It’s only now that I’m moving from seed to Series A that I’ll be [adopting] a more refined focus on narrower areas.

    What I really want, as you might guess, is to back technologies that are world-changingly cool. When I invested in Dropcam, there was no such thing as the “Internet of Things.” When I invested in Lending Club, there was no such thing as fintech.

    Do you feel daunted by the size of the checks you’ll be writing? You were investing between $50,000 and $100,000 in these companies. Now you’ll be writing checks of between $5 million and $15 million.

    More here.

    —–

    New Fundings

    Adara, a six-year-old, Mountain View, Ca.-based marketing company that caters to travel companies, has raised $23 million in Series C funding led by World Innovation, with participation from earlier backers August CapitalMorgenthaler VenturesONSET Ventures and QuestMark PartnersMore here.

    AnswerDash, a three-year-old, Seattle-based Q&A platform for business customers, has raised $2.9 million in funding led by Voyager Capital, with participation from Arnold Venture GroupSummit CapitalW Fund and WRF Capital. Geekwire has more here.

    Bux, a year-old, Amsterdam-based casual trading app that invites traders to start with virtual currency before investing with real money, has raised $1.9 million in new funding from Initial Capital (which has also backed Glu Mobile, Playfish and Supercell in the past). TechCrunch has more here.

    Compass, a three-year-old, New York-based real estate platform, has raised $50 million at an $800 million valuation led by Institutional Venture Partners, with participation from earlier backers Thrive Capital, Founders Fund, .406 Ventures, Advance Publications, American Express CEO Kenneth Chenault, and Salesforce CEO Marc Benioff. The company has now raised $123 million altogether. More here.

    Conichi, a 1.5-year-old, Berlin-based travel startup that simplifies check-in and check-out at hotels by using Beacon technology to display guests’ personal preferences, has raised $7.9 million in seed funding from the hotel portal HRS. TechCrunch has more here.

    Crossbar, a seven-year-old, Santa Clara, Ca.-based company that develops and licenses memory storage flash technology devices, has raised $35 million in Series D funding from Tyche Partners, Oriza Holdings and Cheerful Link, with participation from earlier backers SAIF Partners, Korea Investment Partners, CBC-Capital, Tao Venture Capital Partners, Artiman VenturesKleiner Perkins Caufield & Byers, Northern Light Venture Capital and the University of Michigan.

    Datos IO, a 15-month-old, San Jose, Ca.-based company trying to make it easier to recover corrupted data from big data services like Data Domain, Veritas and IBM, has raised $12.5 million in Series A funding co-led by Lightspeed Venture Partners and True Ventures, with participation from CrunchFund and numerous angel investors. TechCrunch has more here.

    Mechio, a two-year-old, San Francisco-based micro-wearables startup that used to be called Motiv, has raised more than $8.6 million in Series A funding, according to a regulatory filing flagged by Fortune. Kleiner Perkins Caufield & Byers was joined by return backer Granite Ventures.

    Moviepilot, a two-year-old, Venice, Ca.0-based startup geared around fan-generated Hollywood coverage aimed at millennials, has raised $16 million in Series B funding led by the French digital publishing conglomerate Webedia. The company has now raised $22 million altogether. Variety has more here.

    Ola, the five-year-old, Bangalore, India-based mobile cab booking application, is raising more than $500 million, at a valuation that TechCrunch is pegging at roughly $5 billion mark, with $225 million committed so far. It has the scoop here.

    Plexxi, a five-year-old, Nashua, N.H.-based stealth converged networking company, has raised $35 million in Series D funding. An unnamed new investor was joined by earlier backers Lightspeed Venture PartnersMatrix Partners and North Bridge Venture PartnersMore here.

    WebAction, a three-year-old, Palo Alto, Ca.-based platform for end-to-end streaming data integration and streaming analytics, has raised $20 million in Series B funding led by Intel Capital, with participation from Summit Partners, Panorama Point Partners, Frank Caufield and Regis McKennaMore here.

    —–

    New Funds

    The San Diego life sciences and tech investment firm Avalon Ventures is targeting $300 million for its eleventh fund, suggests a new SEC filing that shows the firm has so far raised $103.5 million from 26 investors. MedCity News has more here.

    Three-year-old, Sydney, Australia-based Blackbird Ventures has raised $200 million for its second fund — an enormous jump up from its inaugural $30 million fund. Blackbird primarily backs Australian entrepreneurs in Australia, though firm cofounder Niki Scevak tells us that a third of its portfolio companies have relocated to San Francisco.

    Shiv Nadar, the billionaire chairman of HCL Technologies — India’s fourth-largest IT services provider — has launched a $500 million fund to invest in U.S. startups focused on healthcare technologies. Nadar has teamed up with Sanjay Kalra, a former chief executive of Indian IT outsourcing provider Tech Mahindra, to set up a new firm, SNSK Associates. The International Business Times has more here.
    ——

    Exits

    Qualcomm has acquired Capsule Technologies, an Andover, Ma.-based health-tech systems company founded in 1997 and owned, since 2012, by JMI Equity and Bulger Capital Partners. Xconomy has more here.

    —–

    People

    Things aren’t looking good for Kevin Halpern, who filed a billion-dollar lawsuit against Uber cofounders Travis Kalanick and Garrett Camp earlier this year, claiming they stole his idea. His attorney just withdrew from the case.

    “If you mixed the personality of a laid-back surfer, the refined style of a fashion designer, the pizazz of a Hollywood producer and the self-confidence of an entrepreneur, you’d have Matt Jacobson,” Facebook’s 8th employee — and the longest lasting, after Mark Zuckerberg.

    Kima Ventures, the highly active, five-year-old Paris-based seed-stage fund cofounded by French telco and media entrepreneur Xavier Niel, has two new partners, reports TechCrunchJean De La Rochebrochard is leaving French startup accelerator TheFamily to join the firm, and existing Kima team memberVincent Jacobs is becoming a partner based in London.

    Adrian Wong, the former Google Glass lead electrical engineer who left the company last year to join Facebook-owned virtual reality startup Oculus, has quietly rejoined Google to work for parent company Alphabet, cryptically stating of his new role on LinkedIn: “G is for Gadgets, Glasses, and Goggles.” Business Insider has more here.

    —–

    Essential Reads

    Dreamforce, Salesforce’s annual conference in San Francisco, is now so gigantic that the company had to dock a cruise ship as a floating hotel for 1,000 attendees.

    How Facebook is preparing for the video boom.

    The “sharing economy” is dead, and we killed it.

    —–

    Detours

    The college campus danger you didn’t know about.

    The mansion on Belvedere Island in the San Francisco Bay that just broke local sales records.

    —–

    Retail Therapy

    A portable wood-burning stove. For serious foodie-hipster campers.

  • StrictlyVC: September 14, 2015

    Happy Monday morning, lovely and talented readers! Apologies again about Friday’s abbreviated email. As one subscriber and friend wrote us in response, “Sh_t happens all the time.” Wrote another: DON’T EDIT IN THE CMS!” And a handy tip from a third, to use this tool, Lazarus; it saves everything you type into any web form. (Thank you!)

    —–

    Top News in the A.M.

    Apple said this morning that sales for its newly announced iPhone 6s and 6s Plus are on track to beat last year’s sales for the iPhone 6 and 6 Plus, which sold a record number of 10 million units during the first weekend they were on sale.

    A new, 3,000-word Barron’s piece on Alibaba is predicting the stock will fall 50 percent — and that’s not even the worst of it.

    —–

    Reid Hoffman Goes Back to Stanford

    You might wonder how, exactly, 13-year-old LinkedIn became a $25 billion company. It wasn’t the first social network. The company admits that, even today, people find it very confusing. Plenty of ambitious competitors have sprung up to take on the company. Yet they’ve all been smoked, eventually, by LinkedIn.

    It’s a familiar story in the Bay Area, where many industry-dominating companies – from Uber to Airbnb to Facebook – are based. That’s no accident, says LinkedIn cofounder Reid Hoffman. In fact, this fall, Hoffman is teaching a class at Stanford — his alma mater — on how startups like LinkedIn and the others grow into what he calls “scale-ups.”

    Another word he’s introducing into the ever-ballooning vernacular of Silicon Valley: “Blitzscaling.” The idea: that to compete in the global, networked age, companies need to know how to out maneuver more competitors than ever, and they need to do it, crucially, by knowing how to scale lightning fast.

    More here.

    —–

    New Fundings

    Abra, a 1.5-year-old, Slovenia-based peer-to-peer remittance service built on top of the Blockchain, has has $12 million in Series A funding from Arbor Ventures, RRE Ventures, and First Round Capital. The company has now raised $14 million altogether. TechCrunch has more here.

    Argus Cybey Security, a two-year-old Tel Aviv, Israel-based company that makes anti-car-hacking software, has raised $26 million in Series B funding from Magna International, Allianz SE and SBI Group, with participation from return backers Magma Venture Partners, Vertex Venture Capital and RAD Group cofounder Zohar Zisapel. Reuters has more here.

    Body Labs, a 2.5-year-old, New York-based 3-D body visualization technology, has raised $4.1 million in new funding, shows an SEC filing flagged by VentureWire. The company had previously raised $2.2 million from FirstMark Capital and New York Angels. More here.

    CureVac, a 15-year-old, Tübingen, Germa-based company that’s developing new, messenger-RNA therapies, has raised $225 million, including from the Bill & Melinda Gates Foundation. (The money isn’t new but it’s newly public information.) It’s also opening an office in Cambridge, Ma. Xconomy has more here.

    Deepomatic, a 15-month-old, Paris-based company whose search engine indexes and identifies objects in an image in order to compare them with a database of objects, has raised $1.4 million from Alven Capital and business angels. TechCrunch has more here..

    HouseCall, a two-year-old, San Diego, Ca.-based company that’s incorporated as Codified and that helps users connect with contractors in their local market, has raised $6 million led by August Capital, reports VentureWire. More here.

    Ipsy, a nearly four-year-old, San Mateo, Ca.-based based online beauty community and cosmetics sampling service started by YouTube star Michelle Phan, has raised $100 million in Series B funding co-led by TPG Growth and Sherpa Capital. The company had previously raised just $3 million from investors, including 500 Startups and Crosscut Ventures. Variety has more here.

    MoEngage, a 15-month-old, Bangalore, India-based company that provides user analytics and automated mobile marketing for some of India’s biggest mobile apps, has raised $4.25 million in Series A funding led by Helion Venture Partners, with participation from Exfinity Ventures and angel investors Kunal Bahl and Rohit Bansal, the co-founders of Snapdeal. TechCrunch has more here.

    Moff, a 2.5-year-old, San Francisco-based company that makes a gesture-controlled wearable tech bracelet, has raised $1.3 million in seed funding from the Japanese gaing company Bandai Namco Entertainment, along with other participants Orso and TomyK. TechCrunch has more here.

    —–

    IPOs

    Penumbra, an Alameda, Ca.-based medical device company, hopes to raise up to $122.4 million in an offering that is expected to price later this week. It will be the first IPO from the Bay Area in a month, reports the Silicon Valley Business Journal.

    Cambridge, Ma.-based Dimension Therapeutics also just filed for an IPO, aiming to raise cash to support its pipeline of potential gene therapies for hemophilia and rare diseases. Xconomy has the story here.

    —–

    Exits

    Practo, a seven-year-old, Bangalore, India-based medical search portal that helps patients connect with doctors and clinics and recently raised $90 million in Series C funding, has acquired the Bangalore-based healthcare management firm Insta Health in a $12 million deal. According to Crunchbase, Insta Health had raised just $1.3 million in Series A funding from Inventus Capital Partners. More here.

    —–

    People

    Archit Bhise starts today as an associate in the early stage consumer group of Redpoint Ventures. Bhise joins the firm from Wellframe, a company he cofounded while a student at MIT.

    Her husband famously helped reboot Apple with the “Think Different” advertising campaign. Now Laurene Powell Jobs is starting a $50 million project to rethink high school. The New York Times has the story here.

    John Krakcik, president of the online car-shopping service TrueCar, confirmed yesterday on Twitter that he is joining Google’s Self-Driving Car project later this month as its CEO, tweeting that “driving cars could save 1000s of lives, give people greater mobility [and] free us from things we find frustrating about driving today.” The WSJ has much more here.

    Dealbook features a lengthy profile of investor-entrepreneur Micky Malka of Ribbit Capital, calling him a “rising force in Silicon Valley and one of the few Latin Americans to crack its upper echelon.” (StrictlyVC talked with Malka last summer about his concentrated bets on financial services and why he “doesn’t believe in diversification.”)

    —–

    Jobs

    Lyft is looking to hire a business analyst in San Francisco.

    Tumblr is looking to hire a director of business development. The job is in New York.

    —–

    Essential Reads

    Indiegogo is getting ready for equity crowdfunding.

    Coming soon: Etsy Manufacturing, a new service in the U.S. and Canada that matches sellers with small manufacturers.

    How Ashley Madison hid its fembot con from users and investigators.

    Virtual reality is at its make-or-break moment.

    —–

    Detours

    The world’s most luxurious fashion show.

    Just as you suspected. We are hard-wired for laziness.

    —–

    Retail Therapy

    Everything you ever wanted to know about the Mercedes AMG GT S

  • StrictlyVC: September 10, 2015

    Happy Thursday, everyone!

    We’re getting super excited to see many of you in just seven days at our newest StrictlyVC event in San Francisco! Thanks to our wonderful sponsors, including Bolt and Ludlow Ventures, for their help; it’s going to be a fun night.:)

    We’ve been in many meetings so no column today.

    —–

    Top News in the A.M.

    There was a lot of Apple news to emerge from its big press event yesterday. We have all kinds of links for you if you missed any of it. Like:

    The new Apple TV ships next month. Here’s what you’ll want to know first.

    It also unveiled the iPad Pro. (It’s much bigger; you can take advantage of split-screen multitasking. You can also buy a new $99 Apple stylus or $169 smart keyboard by Logitech that also works like a smart cover, as you can see here.)

    Apple also introduced a new iPhone 6 and iPhone 6 S, in a rose-gold tone and significantly altered innards from their precedessors.

    And it announced a 24-month payment plan with an option to upgrade for a new iPhone every year.

    And animated iPhone photos.

    To make things simpler, here’s everything that was unveiled at yesterday’s big event.

    Here’s influential blogger John Gruber’s take on all the pretty new things, too.

    —–

    New Fundings

    CartoDB, a three-year-old, New York-based mapping software startup, has raised $23 million in Series B funding led by Accel Partners, with participation from Salesforce Ventures and earlier backers Earlybird Ventures and Kibo Ventures. The company has now raised $31 million altogether. TechCrunch hasmore here.

    Chain, a 1.5-year-old, San Francisco-based company whose platform enables institutions to design, deploy, and operate blockchain networks, has raised $30 million in new funding from Visa, Nasdaq, Citi Ventures, Capital One Ventures, Fiserv and Orange, along with earlier backers Khosla VenturesRRE Ventures, Thrive Capital and SV Angel. Forbes has more here.

    Delphinus Medical Technologies, a five-year-old, Plymouth Township, Mich.-based maker of breast ultrasound technology, has raised $39.5 million in Series C funding led by Venture Investors, with participation from Hopen Life Science Ventures, Waycross Ventures and earlier backers Arboretum Ventures, Beringea, and North Coast Technology Investors.

    Discern, a 5.5-year-old, San Francisco-based analytics startup for investment professionals, has raised $20 million in Series A funding led by Artiman Ventures. Venture Capital Dispatch has more here.

    EaseCentral, a nine-month-old, San Francisco-based online platform for insurance benefits brokers, has raised $2.1 million in seed funding led byFreestyle Capital, with participation from Upside Partnership, Metamorphic Ventures, Deep Fork Capital and Transmedia Capital. More here.

    Fundbox, a three-year-old, San Francisco-based alternative lending startup, has raised $50 million in Series C funding less than six months after closing on a $40 million Series B round.  Spark Capital Growth led the round, with participation from Bezos Expeditions, Sound Ventures, and Entrée Capital, along with earlier backers Khosla Ventures, General Catalyst PartnersBlumberg Capital and investor Shlomo Kramer. The company has now raised $108 million altogether. TechCrunch has more here.

    HookLogic, an 11-year-old, New York-based marketing company, has raised $15.5 million in Series C funding co-led by Fung Capital and Mousse Partners, with participation from earlier backers Bain Capital Ventures and Intel Capital. Vator has more here.

    Optimal+, a 10-year-old, Israel-based maker of testing software for the semiconductor manufacturing process, has raised $42 million in growth equity funding led by KKR, with participation from earlier investors Carmel Ventures and Pitango Venture Capital. Reuters has more here.

    Orchard Platform, a two-year-old, New York-based technology and infrastructure platform for marketplace lending, has raised $30 million in Series B funding led by Thrive Capital, with participation from Victory Park CapitalThomvest Ventures, and former Goldman Sachs president Jon Winkelried, as well as earlier investors, including Spark Capital, Canaan Partners, QED Investors, Nyca Partners, and Conversion Capital.

    Paxata, a Redwood City, Ca.-based analytics startup whose technology lets business users clean up and transform data on their own, has raised $18 million in Series C funding led by EDBI, with participation from earlier backers Accel Partners India, Walden-Riverwood Ventures and Toba Capital. Fortune has more here.

    Planet3, a 20-month-old, Washington, D.C.-based exploration-based learning company, has raised $10 million in Series A funding from Switch, a Nevada-based data center developer. More here.

    Plytix, 1.5-year-old, Copenhagen-based company that offers a way for brands to track the performance of their products across multiple web sites, has raised €500,000 in seed funding led by SEED Capital, with participation from unnamed angel investors. TechCrunch has more here.

    ThredUP, a six-year-old, San Francisco-based online consignment store, has raised $81 million in Series E funding led by Goldman Sachs Investment Partners, with participation from earlier backers Trinity Ventures, Upfront Ventures, Highland Capital Partners and Redpoint Ventures. FastCompany has more here.

    Unified, a four-year-old, New York-based marketing and analytics startup, has raised $30 million in Series B funding led by iHeartMedia, with participation from Advance Publications, Upfront Ventures, and Foundry Group. The company also raised a $10 million debt facility from Silicon Valley Bank.

    —–

    New Funds

    Gobi Partners, a 13-year-old, Shanghai, China-based venture firm, has closed a new RMB 600 million (about $94 million) fund dedicated to providing fledgling startups in China with early-stage funding. TechCrunch has more here.

    Kalaari Capital, a nine-year-old, Bangalore, India-based early-stage venture firm focused on India-based startups, has raised a new $290 million fund — a marked increase from its last fund, which closed with $160 million. Times of India has more here.

    Following the success of its first, $1.5 million venture fund for Dartmouth College alumni (raised with the help of 44 individuals), Boston-based Launch Angels is launching new venture funds for Yale College and University of New Hampshire alumni, too. Bostinno has the story here.

    —–

    IPOs

    First Data Corp., the Atlanta-based payments technology company backed by KKR, is hoping to raise at least $2.5 billion in its upcoming IPO, reports Bloomberg. It will be the year’s largest offering if it succeeds. More here.

    Square, the mobile-payments company, plans to stage its IPO in the fourth quarter of this year, say Bloomberg sources.

    —–

    Exits

    Inrix, an 11-year-old, Kirkland, Wa.-based company that provides real-time traffic and other data to car companies, tech companies, and other enterprises, has acquired ParkMe, a six-year-old, Santa Monica, Ca.-based startup that offers “smart parking” services to users, including finding and reserving parking spaces and paying for them by mobile. Terms of the deal aren’t being disclosed. According to Crunchbase, ParkMe had raised $8.3 million from investors, including Fontinalis Partners and IDG Ventures. Inrix has meanwhile raised roughly $143 million from August Capital, Kleiner Perkins Caufield & Byers, Venrock, and Bain Capital Ventures, among others. More here.

    Wave Broadband, a 12-year-old, Kirkland, Wa.-based gigabit fiber and broadband services company serving both business and residential users, has bought Layer42 Networks, a 16-year-old, Santa Clara, Ca.-based company that provides businesses with Internet, colocation and data transport. (We don’t know the funding situation of either company.) More here.

    —–

    People

    SpaceX founder Elon Musk says thermonuclear bombs could be key to starting a Martian real estate boom. (He’s not joking.)

    Lars Fjeldsoe-Nielsen has left his position as VP of mobile at Uber and has moved over to London to become a general partner at VC firm Balderton. TechCrunch has more here.

    NYU marketing professor Scott Galloway said on Bloomberg TV yesterday that if Yahoo CEO Marissa Mayer “hadn’t announced she was pregnant with twins, she’d be out of a job within six months . . . I don’t think any board in America right now in technology that’s as visible as Yahoo wants to be seen as not leaning in.” Fortune has more here.

    Michael Giampapa, who formerly worked in the tech investment banking group at J.P. Morgan, has joined Institutional Venture Partners as an associate.

    Slack has a higher percentage of African-Americans in engineering than it does company-wide, it revealed yesterday among other diversity-related data. TechCrunch has more here.

    Uber poached roughly 50 scientists from Carnegie Mellon University’s National Robotics Engineering Center earlier this year; now it’s trying to make nice by announcing a $5.5 million gift to the school. More here.

    HP’s Meg Whitman has joined SurveyMonkey’s board of directors. VentureBeat has more here.
    —–

    Jobs

    Yahoo is looking to hire a corporate development M&A analyst. The job is in Sunnyvale, Ca.

    —–

    Data

    Tough times ahead? Venture capital funding was down by 50 percent last quarter in China. More here.

    —–

    Essential Reads

    Well this kind of stinks: Intel is dropping its longtime financial support of the most prestigious science and mathematics competition for American high school students.

    A California bill that would have curtailed drone usage, prompting the concern and considerable lobbying effort of tech companies like Amazon and Google, is now kaput.

    —–

    Detours

    How the “High Times” became the New York Yankees of New York media softball.

    —–

    Retail Therapy

    A shower head that uses 70 percent less water.

    The Nike Cortez. They are back! Huzzah.

  • StrictlyVC: September 9, 2015

    Happy Wednesday, everyone! Get set for Applepalooza; it kicks off at 10 o’clock PST.

    —–

    Top News in the A.M.

    The outlet 9to5Mac has a rundown of most of what it’s expecting from today’s big event. You can take a look here.

    Meanwhile, in Seattle, Amazon has finally exhausted its supply of Fire Phones. GeekWire has more here.

    —–

    CrunchBase is Spinning Off, Backed by Emergence Capital

    Eight-year-old, San Francisco-based CrunchBase looks to become a standalone company in the very near future. According to several sources, the unit, which calls itself the “definitive database of the startup ecosystem,” is finalizing a term sheet with the venture firm Emergence Capital Partners for an investment of between $5 million and $7 million.

    AOL, we’re told, remains a “significant” investor.

    It’s both the closing of a chapter for CrunchBase, and the beginning of a new one.

    More here.

    —–

    New Fundings

    Apperian, a six-year-old, Boston-based mobile applications management company, has raised $12 million in fresh funding led by the Malaysia-based firmFirst Floor Capital. Bessemer Venture Partners, Kleiner Perkins Caufield & Byers, North Bridge Venture Partners, Intel Capital and CommonAngels Ventures also joined the round, which brings Apperian’s total funding to more than $39 million. TechCrunch has more here.

    AveXis, a five-year-old, Dallas, Tex.-based company that’s developing gene-therapy treatments for rare neurological disorders, has raised $65 million in Series D funding led by T. Rowe Price Associates, with participation from several other new and returning investors. More here.

    The Black Tux, a two-year-old, Santa Monica, Ca.-based suit and tuxedo rental startup, has raised $25 million in new funding led by Stripes Group, with participation from earlier backers First Round Capital and Menlo Ventures. The company has now raised $40 million altogether. TechCrunch has more here.

    Chef, a seven-year-old, Seattle-based automation platform that transforms infrastructure into code, has raised $40 million in Series E funding led by DFJ Growth, with participation from earlier backers, including Battery VenturesCiti Ventures, DFJ, Ignition Partners, and Scale Venture PartnersHewlett Packard Ventures also joined the round as a strategic investor. TechCrunch has more here.

    Cognition Therapeutics, an eight-year-old, Pittsburgh, Pa.-based pharmaceutical company focused disease-modifying therapies for Alzheimer’s and related neurodegenerative diseases, has raised $12 million in Series B funding led by the investment syndicate Golden Seeds, with participation from Bios Memory SPV1, Cowtown Angels, Scale Investors, Dolby Family Ventures, Maine Angels, among others. Earlier backers, including Tech Coast Angels, also participated in the financing. More here.

    Dronomy, a 1.5-year-old, Tel Aviv, Israel-based drone tech startup, has raised $1.5 million in funding led by Battery Ventures, with participation from Lool Ventures, Oryzn Capital and numerous angel investors, including former Skype CEO Josh Silverman. Tech.eu has more here.

    Eden, a six-month-old, San Francisco-base on-demand tech help service launched out of Y Combinator, has added new $2 million in funding to its now $3.3 million seed round. Investors include SV Angel, Redpoint VenturesBessemer Venture Partners, Slow Ventures, Comcast Ventures, Index Ventures, and Canvas Venture Fund. TechCrunch has more here.

    FeeX, a three-year-old, New York-based free service that identifies and tries to help consumers eliminate hidden fees in retirement and savings accounts, has raised $2.75 million in new funding led by Collaborative Fund. The money brings the total capital raised by the company to $12.1 million. TechCrunch hasmore here.

    Freightos, a four-year-old, Hong Kong-based startup that automates the routing and pricing of international freight shipments, has raised $14 million in Series B funding from MSR Capital, Sadara Ventures, and earlier backers Aleph, Annox Capital, ICV and OurCrowd. The company has now raised $23.3 million altogether. TechCrunch has more here.

    Lalamove, a two-year-old, Hong Kong-based on-demand logistics service that lets users hail delivery vans with an app, has raised $10 million in fresh funding led by MindWorks Ventures, with participation from AppWorks, Crystal Stream, and individual investors. The company has now raised $20 million altogether. TechCrunch has more here.

    Lesara, a two-year-old, Berlin-based online fashion and lifestyle retailer that wants to make it easier for consumers in Europe to buy directly from factories in Asia, has raised €15 million ($16.7 million) co-led by Northzone and Vorwerk Ventures, with participation from earlier backer Mangrove Capital. TechCrunch has more here.

    Routehappy, a 4.5-year-old, New York-based platform that helps airlines organize and deliver content about their products wherever flights are displayed, has raised $3 million in new funding, shows an SEC filing. The company had previously raised $5.3 million from investors, including Contour Venture Partners, iNovia Capital, and Primary Venture Partners. More here.

    ShapeShift.io, a 1.5-year-old, Zug, Switzerland-based universal and anonymous cryptocurrency converter, has raised $1.6 million from the Digital Currency Group and bitcoin angel investor Roger Ver, as well as other angel investors. TechCrunch has more here.

    —–

    New Funds

    According to Fortune, Amplify Partners, a two-year-old, San Francisco-based venture fund that invests in seed and Series A-stage enterprise deals, has closed its second fund with $125 million in capital – more than double the roughly $50 million it had raised for its debut fund. Amplify was founded by Sunil Dhaliwal, a former partner with Battery Ventures. StrictlyVC talked with him about his fund strategy — which isn’t changing, says Fortune — last year.

    A new venture fund called Crystal Towers that’s backed by several Y Combinator founders and aims to invest in the most promising YC companies out of every batch, has raised a fresh $4.4 million, shows an SEC filing. As TechCrunch reported in July, the fund is not associated in any formal capacity with Y Combinator. It also appears to be raising capital in dribs and drabs; as of TechCrunch’s report, the fund had already raised $102.5 million over numerous filings.

    —–

    Exits

    NEXTracker, a two-year-old, Fremont, Ca.-based solar startup, is being acquired by Flextronics for more than $245 million in cash. Flextronics may also pay $85 million more based on future performance targets. NEXTracker had raised more than $40 million from investors, including SJF VenturesTennenbaum Capital Partners, Sigma Partners and DBL Investors. Greentech Media has more here.

    —–

    People

    Keith Bigelow, a Salesforce executive who was hired from SAP to oversee the launch of an ambitious new line of analytics software, is stepping down from the role to take on another unidentified project within the company, reports The Information. (Subscription required.)

    Fresh off of a DUI and gun possession arrest last month, software pioneer John McAfee has decided that the presidency of the United States is his next logical step.

    Gary Swart has been named a general partner of Polaris Partners.  Swart, the former CEO of oDesk, joined the firm as a venture partner one year ago, helping it to expand its presence on the West Coast.

    Vanity Fair’s New Establishment list for 2015. (Yeah, we know how you feel, but you kind of have to read it.)

    —–

    Jobs

    AAA is looking to add a strategy analyst to its new business ventures unit. The job is in Emeryville, Ca.

    —–

    Essential Reads

    Inside Facebook’s $2 billion bet on Oculus Rift.

    After five years, Instagram is ready to start cashing in.

    Stem CentRx, a low-flying, Peter Thiel-backed “unicorn,” thinks stem cells could be the underlying cause of many cancers.

    Periscope, Twitter’s live-streaming product, is developing an app for the new Apple TV that will enable viewers to watch livestreams on their TV.

    —–

    Detours

    At Harvard, it’s show time.

    Truly insane skateboarding.

    press release, brought to you by Rolls-Royce (and penned, evidently, by Danielle Steel).

    —–

    Retail Therapy

    Two San Francisco homes with bona fide pools have hit the market — timed perfectly for weather that’s turned hot as Hades.

  • CrunchBase to Become a Standalone Company

    CBEight-year-old, San Francisco-based CrunchBase looks to become a standalone company in the very near future. According to several sources, the unit, which calls itself the “definitive database of the startup ecosystem,” is finalizing a term sheet with the venture firm Emergence Capital Partners for an investment of between $5 million and $7 million.

    AOL, we’re told, remains a “significant” investor.

    It’s both the closing of a chapter for CrunchBase, and the beginning of a new one.

    More here.

     

  • StrictlyVC: September 8, 2015

    Hi, everyone, welcome back! Hope you had a terrific long weekend.

    —–

    Top News in the A.M.

    Uber plans to enter 100 more Chinese cities over the next year, doubling a previous goal set just three months ago, CEO Travis Kalanick said earlier today.

    Uber also just closed a $1.2 billion round of funding led by Chinese search giant Baidu. (Another day, another round . . .)

    Amazon is planning to release a $50 tablet in time for the holidays.

    —–

    Emergence Capital, a Top Saas Investors, Zeroes In On Mobile Enterprise Applications

    Since its founding a decade ago, Emergence Capital Partners has become among the startup industry’s most highly regarded investors in enterprise software-as-a-service companies.

    Fact is, few firms are as specialized. But the approach has paid big dividends. In fact, in 2013, Emergence saw one of the industry’s biggest returns with the IPO of Veeva Systems, an enterprise cloud provider for life sciences companies. In 2008, Emergence invested $4 million in the startup. When it went public, it was valued at $4.4 billion, and the firm’s stake was transformed into more than $1.2 billion.

    Veeva’s market valuation has since slid to $3.2 billion, and Emergence has since quietly shifted its focus from SaaS startups to mobile enterprise applications. Among its newest investments: ServiceMax, a company whose applications are used by field service workers who are tasked with, say, completing installations or warranty repairs.

    “We think this is a bigger trend than SaaS has been to date,” says general partner Kevin Spain, who just published a detailed industry report that you’ll probably want to read.

    We talked with him about it Friday. More from that conversation follows here.

    —–

    New Fundings

    Azendoo, a five-year-old, Bordeaux, France-based internal collaboration platform for marketing teams, has raised $1.5 million from TheFamily,Thibault Poutrel and Arnaud Vinciguerra. TechCrunch has more here.

    BlaBlaCar, a nine-year-old, Paris-based car-sharing website that connects drivers with empty seats and paying passengers to offset distance travel costs, is raising $160 million in fresh funding at a $1.2 billion post valuation, reports TechCrunch. Insight Venture Partners is leading the round with a syndicate that seems not to include earlier backers Index Ventures, Accel PartnersISAI and Lead Edge Capital, says the report. More here.

    CommonBond, a nearly four-year-old, New York-based online lending platform that connects borrowers with investors wiling to make student loans, has raised $35 million in funding led by August Capital, with participation fromNyca Partners and earlier backers Tribeca Venture Partners, Social + Capital Partnership, and individual investors like former Citi CEO Vikram Pandit. TechCrunch has more here.

    IDNtimes, a 1.5-year-old, Surabaya, Indonesia-based media portal that hopes to become the equivalent of Buzzfeed for Indonesia’s younger generation, has raised an undisclosed amount of funding from local venture capital firm East Ventures. Tech in Asia has more here.

    Mia.com, a four-year-old, Beijing-based maternity and baby products flash sales platform, has raised $150 million in Series D funding led by Baidu, with participation from undisclosed earlier investors. China Money Network has more here.

    NeoBear, a six-year-old, China-based early childhood education start-up that markets augmented reality toys and mobile apps, has raised $19 million in Series A funding led by GGV Capital, with participation from QualcommSinolink Securities, Haitong Kaiyuan Capital, and Liuhe Capital. China Money Network has more here.

    Okta, a seven-year-old, San Francisco-based integrated identity and mobility management service, has raised $75 million round in new funding at a $1.175 billion valuation. (That puts it in “unicorn” territory, for those of you keeping track.) Earlier backers Andreessen Horowitz, Greylock Partners andSequoia Capital led the round, with participation from Khosla VenturesAltimeter, Glynn Capital and other unnamed investors. The company has now raised $230 million altogether. TechCrunch has more here.

    Paymium, a four-year-old, Paris-based bitcoin marketplace, has raised €1 million ($1.1 million) in seed funding from French venture firms Newfund and Kima Ventures, with participation from Galitt, a payments consultancy and services firm, and a few angel investors. More here.

    Smile Telecoms, an eight-year-old, Mauritius-based company that operates a broadband network in Nigeria, Tanzania, and Uganda and plans to launch in the Democratic Republic of Congo early next year, has raised $365 million in debt and equity financing, including $50 million in equity from the Public Investment Corporation, which invests on behalf of the South African Government Employees Pension Fund. TechCrunch has more here.

    TradeIt, a year-old, New York-based startup that allows users to quickly and easily place orders with their existing online brokerage accounts from any website or mobile device, has raised $4 million in funding from Valar Ventures and Citi Ventures. The company had previously raised an undisclosed amount of angel backing. TechCrunch has more here.

    TVibes, a 10-month-old, Tel Aviv, Israel-based company that aims to make it easier to store and share videos on its cloud-based platform, as well as to stream video live, has raised $1 million in seed funding from TV and movie producer Damien Collier and other private investors. TechCrunch has more here.

    Zomato, a seven-year-old, Gurgaon, India-based restaurant discovery site, has raised $60 million in new funding, just five months after closing a $50 million round. (It has now raised $225 million altogether.) The Singapore investment company Temasek led this newest round, with participation from earlier backer Vy Capital. TechCrunch has more here.

    —–

    New Funds

    Just days after the third “main” fund of 500 Startups was officially closed with $85 million, the five-year-old Mountain View, Ca.-based firm has kicked things into high(er) gear, officially setting out to raise its fourth fund with a target of $200 million. In a more meaningful shift for the firm, it’s preparing to raise a growth fund for the first time, too. More here via TechCrunch.

    Japan’s Beenos group, a global conglomerate with a business incubator, has announced a $60 million, Singapore-based fund for early-stage startups called BEENEXT. The fund intends to invest in internet and mobile-related businesses in India, Southeast Asia, Japan, and the U.S. Tech In Asia has more here.

    Silversmith Capital Partners, a months-old, Boston-based growth equity firm launched by alumni of Bain Capital Ventures and Spectrum Equity, has closed its debut fund with an impressive $460 million, reports Fortune. More here.

    —–

    Exits

    Microsoft announced this morning that it purchased the three-year-old, Palo Alto, Ca.-based cloud security firm Adallom for a reported $250 million. (Earlier reports pegged the sale at more than $300 million.) Adallom had raised roughly $50 million over three funding rounds. Its backers included Sequoia CapitalRembrandt Venture Partners, and Index Ventures. More here.

    —–

    People

    Docker has hired former Twitter CFO and Zynga treasurer Mike Gupta as its new CFO. More here.

    Why Facebook CEO Mark Zuckerberg wants everyone to read about how the poor spend their money.

    —–

    Jobs

    Uber is looking for a head of business development for India. The job is New Delhi.

    —–

    Data

    A record 290 companies in Central and Eastern Europe received private equity and venture capital investment last year, as capital invested by funds across the region soared 66 percent from 2013 to €1.3 billion ($1.45 billion). So shows new data released today by the European Private Equity and Venture Capital Association. Its full report is here.

    —–

    Essential Reads

    Apple has ramped up its hiring of artificial intelligence experts, but it still faces obstacles to making its phones smarter, reports Reuters.

    The products of consumer electronics maker Jawbone “have a beautiful design, but they’re expensive to manufacture,” one former executive tells The Information. “They can’t get out of this cycle of products that . . . don’t make money.” (Subscription required.)

    Take a peek at someone using Facebook‘s new virtual assistant, “M.”

    —–

    Detours

    Seven of Oliver Sack’s most fascinating case studies.

    Six unique and inspiring timelapse videos.

    Most cyclists hospitalized for injuries are over age 45, shows new research.

    —–

    Retail Therapy

    Cumberland Street Townhouse, Brooklyn. (H/T: Uncrate)

  • Emergence Capital, Long a Top SaaS Investor, Zeroes in on Mobile Enterprise Apps

    Screen Shot 2015-09-07 at 8.43.58 PMSince its founding a decade ago, Emergence Capital Partners has become among the startup industry’s most highly regarded investors in enterprise software-as-a-service companies.

    Fact is, few firms are as specialized. But the approach has paid big dividends. In fact, in 2013, Emergence saw one of the industry’s biggest returns with the IPO of Veeva Systems, an enterprise cloud provider for life sciences companies. In 2008, Emergence invested $4 million in the startup. When it went public, it was valued at $4.4 billion, and the firm’s stake was transformed into more than $1.2 billion.

    Veeva’s market valuation has since slid to $3.2 billion, and Emergence has since quietly shifted its focus from SaaS startups to mobile enterprise applications. Among its newest investments: ServiceMax, a company whose applications are used by field service workers who are tasked with, say, completing installations or warranty repairs.

    “We think this is a bigger trend than SaaS has been to date,” says general partner Kevin Spain, who just published a detailed industry report that you’ll probably want to read.

    We talked with him about it Friday. More from that conversation follows here.

  • StrictlyVC: September 4, 2015

    Good Friday morning, everyone. Hope you have a wonderful, long Labor Day weekend. We have big ambitions to sit poolside and (finally) read Ashlee Vance’s wonderful biography of Elon Musk. We’ll see how that goes — wish us luck.:)

    Also, you may have guessed this, but because of the holiday, we will not be publishing Monday.

    See you soon.

    —–

    Top News in the A.M.

    Jessica Alba’s venture-backed business, The Honest Company, has just been smacked with a lawsuit that accuses five of its products of being “deceptively and misleadingly labeled.” Business Insider has more here.

    —–

    New Fundings

    Databox, a three-year-old, Boston-based company whose app acts as a personal data assistant, has raised $3.3 million in seed funding led by Founder Collective, with participation from Accomplice and other investors. More here.

    Letgo, a nine-month-old, Barcelona-based marketplace app lets users buy and sell items locally, has raised $100 million in Series A funding from the South African media company Naspers. The funding is a kind of a shock, considering Letgo has two million users, but Naspers has also backed OLX, the last company of Letgo founder Alec Oxenford. TechCrunch has more here.

    Virool, a 3.5-year-old, San Francisco-based programmatic video marketing platform, has raised $5 million in funding from Flint Capital, reports Crunchbase, which shows the company has now raised $11.6 million altogether. More here.

    —–

    New Funds

    500 Startups, the Mountain View, Ca.-based venture firm, has closed its third global fund at $85 million, 15 percent below its original target after more than a year and a half of bumpy fundraising, founder Dave McClure tells VentureWire. The firm’s LPs include Tokyo-based Dentsu, Yahoo Japan and Malaysia Venture Capital Management Berhad, a venture firm backed by the Malaysian government.

    —–

    Exits

    Amazon is acquiring Elemental Technologies, a nine-year-old, Portland, Ore.-based backend mobile video service. Terms of the deal were not disclosed, but The Information pegs the price at $500 million in cash. Elemental had raised roughly $45 million from investors, shows Crunchbase. Its venture investors include General Catalyst Partners, Voyager Capital, Steamboat Ventures, and Norwest Venture Partners. TechCrunch has more here.

    Docstoc, an 8.5-year-old electronic document sharing service that was acquired by Intuit for an undisclosed amount in late 2013, is now being shut down by Intuit. TechCrunch has more here.

    Good Technology, the nearly 20-year-old, Sunnyvale, Ca.-based mobile device management company that had repeatedly tried and not gone public, is being acquired by Blackberry in a $425 million cash deal. (That’s roughly the amount it raised from every VC in Siicon Valley over the years.) More on the ahead-of-its-time company and the broader deal here.

    Microsoft is acquiring VoloMetrix, a four-year-old, Seattle-based service that specializes in analyzing organizational performance using anonymized data it gathers from across a company’s corporate communications systems. Terms of the deal aren’t being disclosed. VoloMetrix had raised roughly $17 million from Split Rock Partners and Shasta Ventures. TechCrunch has more here.

    —–

    People

    Top mortgage analyst Abhishek Mistry has quit JPMorgan to work on his startup, Mixcity, which creates software for DJs. (It’s looking for funding, too.) Bloomberg has more here.

    Sean Cunningham, a director at Intel Capital for 15 years, is joining Trident Capital Cybersecurity as a managing director; he joins other managing directors Alberto Yépez and Don Dixon.

    Venture capitalist Ben Horowitz tells those who may be worried about a frothy market: “I’ll bet any bubble believer everything that I have that Nasdaq won’t drop 80 percent in the next 5 years.”

    Net-a-Porter founder Natalie Massenet has resigned from the online fashion retailer she founded 15 years ago, just as it prepares to merge with Italian rival Yoox; she was to have been chairman of the combined company. The Business of Fashion has the story here.

    Ian Rogers, who mapped out Apple’s online radio strategy then (seemingly) abruptly resigned in late August, just two months after the launch of its Beats1 radio service, has a new job. According to the WSJ, he is joining the French luxury fashion conglomerate LVMH Moet Hennessy Louis Vuitton as chief digital officer.

    Howie Xu has joined Greylock Partners as an entrepreneur-in-residence. Xu was most recently a senior director responsible for all of Cisco’s Cloud Networking Service Group engineering team; earlier in his career, he was an executive at VMWare, too. More here.

    —–

    Jobs

    Facebook is looking to hire yet another corporate development associate. The job is in Menlo Park, Ca.

    —–

    Essential Reads

    NASA has created a polymer that can heal itself in seconds—even from bullets.

    The cheap phones quietly winning the U.S.

    —–

    Detours

    College kids prefer pot.

    Filmmaker Alex Gibney’s new documentary about Steve Jobs, “The Man in the Machine,” is set for release today. You can catch the trailer here.

    That chimp that attacked a drone with a stick? He planned ahead, researchers now say.

    —–

    Retail Therapy

    Lyonheart cars. [Sigh.]

  • StrictlyVC: September 3, 2015

    Happy Thursday, everyone!

    If you were looking for yesterday’s issue — we know some of you had trouble finding it — it’s here.

    —–

    Top News in the A.M.

    According to Bloomberg, Twitter’s board is meeting today to discuss results from its CEO search, which has gained urgency as executives exit. The news has its shares trading up this morning.

    —–

    For Top VCs, a Demo Day to Call Their Own

    For the second time in its two-year history, in a small space that’s easy to miss on a leafy Palo Alto street, the boutique venture firm Pejman Mar brought together seven startups yesterday to present their fledgling ideas to some of the best early-stage investors in the startup industry.

    Roelof Botha of Sequoia Capital was there, as were investors Jeff Clavier, Manu Kumar, and Kent Goldman. There was also a contingent of bearded VCs, who’d driven over from their respective Sand Hill Road firms. “It looks like we dressed each other today,” joked one to another who was wearing a similar shirt.

    The investors had come partly because the presenting teams all have ties to Stanford. Some of them haven’t graduated. Others have advanced engineering degrees. Almost all camp out regularly at Pejman Mar’s simple but cheery offices, batting around ideas and, sometimes, receiving a $15,000 to $25,000 convertible note from Pejman Mar in the process.

    Yet another attraction for the VCs: an afternoon that’s refreshingly intimate by current standards. Yesterday, there were no more than 60 people gathered, and at least a third of them were involved in the startups that were pitching. (Most seem to be launching the alpha versions of their products right now.)

    To continue reading, click here.

    —–

    New Fundings

    ADC Therapeutics, a four-year-old, Lausanne, Switzerland-based company that’s developing antibody drug conjugates and non-antibody drug conjugate products, has raised $80 million in new funding from earlier backers Auven Therapeutics and AstraZeneca, along with undisclosed new European and U.S. investors. More here.

    Bubl, a four-year-old, Toronto-based maker of a 360-degree camera for capturing spherical panoramas, has raised $3.5 million in seed funding led bySamsung Ventures and J-Tech Capital, with other unnamed investors also participating in the round. TechCrunch has more here.

    Netskope, a three-year-old, Los Gatos, Ca.-based cloud app analytics and policy enforcement company, has raised $75 million in Series D funding led by Iconiq Capital and other prominent Silicon Valley companies. The company has now raised more than $130 million altogether. Venture Capital Dispatch hasmore here.

    Vestiaire Collective, a six-year-old, Paris, France-based pre-owned luxury clothes marketplace, has raised $37 million in Series D funding led by the French investment firm Eurazeo, with participation from previous backers Idinvest Partners, Condé Nast, Balderton Capital and Ventech. The company has now raised roughly $67 million altogether. TechCrunch has more here.

    Wrap, a nearly two-year-old, San Francisco-based mobile-first marketing and commerce platform founded by serial entrepreneur Eric Greenberg (he founded Scient in the late ‘90s), has raised $12.7 million in Series B funding led by Raine Capital and ProSieben. Other participants in the round includeChristopher Crain of Crain Communications, Dream Incubator, FF AngelSalesforce Ventures and Transmedia Capital. The company has now raised $18.7 altogether. More here.

    Zivame, an four-year-old, Bangalore, India-based online lingerie store, has raised $40 million in Series C funding led by Zodius Technology Fund and Khazanah Nasional Berhad, a fund belonging to the Malaysian government. Previous backers Unilazer, IDG Ventures and Kalaari Capital also joined the round, which brings the company’s total funding to more than $45 million. TechCrunch has more here.

    —–

    Exits

    It’s official. AOL is buying Millennial Media for $238 million after accounting for debt. (Forbes calls it a “mercy killing.”) TechCrunch has more here.

    —–

    People

    Kleiner Perkins Caufield & Byers has promoted one of its general partners, Wen Hsieh, to managing member, reports Fortune. The additional title lets Hsieh approve investments across the firm.

    Anthony Pompliano, a product manager that led growth and engagement for Facebook pages, has joined Snapchat to lead a new growth team. TechCrunch has more here.

    Max Schireson, the startup executive who became a poster child last year for efforts at better work-life balance, is back to work, joining Battery Ventures as an executive-in-residence. Venture Capital Dispatch has his story here.

    Twitter has promoted Jeff Seibert, who’s been running its developer products for more than year, to be its new head of consumer product. Recode has more here.

    The FAA has named two new officials to lead its effort to incorporate commercial unmanned aerial systems, or drones, into the U.S. airspace. Reuters has more on who they are here.

    —–

    Jobs

    Omidyar Technology Ventures is looking to hire an investment associate. The job is in Redwood Shores, Ca.

    —–

    Essential Reads

    Google said that starting in November, it will begin penalizing sites that show these “please install our app” ads — the kind that obscure what’s on the page — by deeming them less mobile friendly. Critics say the move isn’t fair.

    A California judge has approved a $415 million settlement between tech workers and Intel, Google, Apple and Adobe Systems, which were accused of conspiring to prevent the poaching of each other’s employees.

    —–

    Detours

    We’re probably getting enough sleep after all, suggests new research.

    Israel’s favorite Palestinian calls it quits.

    Beautiful lattes.

    —-

    Retail Therapy

    Tesla’s Model 3 is coming . . . in two years. But you can pre-order yours in March!

     


StrictlyVC on Twitter