StrictlyVC: November 2, 2017

November 2, 2017

 

Hi, all, happy Thursday! Quick note: tomorrow, we’re on an early flight to Lisbon to check out Web Summit, the humongous tech conference taking place for most of next week. What this means: your issue of SVC will likely arrive very early and be very short. It may also appear at strange times next week. We’re just trying to keep you on your toes! (Basically, we don’t yet know what our schedule will be like, but we won’t forget you.)

 

If you’ll be there, too, let us know. We’ll be a little crazed Monday; we’re conducting three interviews for its Venture program. But we’d love to meet up if you’re around and want to grab a coffee or cocktail.:)

 

 

Top News

 

Bitcoin’s incredible march continues, with cryptocurrency breaking $7,000 per coin for the first time. The surge even saw it reach a high of $7,200 on some exchanges. TechCrunch has more here.

 

Coinbase has added more than 100,000 users in the last 24 hours, in the wake of the world’s largest exchange owner, CME Group, announcing earlier this week that it plans to introduce bitcoin futures by the end of the year. Bloomberg has more here.

 

 

Sponsored By …

 

StrictlyVC is sponsored this week by “Intangibles” – a podcast designed to be helpful to those who want to improve their soft skills. Authors, artists, behavioral psychologists, and professors dive deep into topics including how to become better at critical thinking, listening, personal branding and communicating. The podcast is created and hosted by Antecedent VenturesSubscribe on iTunes.

 

 

New Fundings

 

3YOURMIND, a three-year-old, Berlin, Germany-based platform for 3D industrial printing, has raised $12 million in Series A funding led by Unternehmertum Venture Capital Partners, with participation from coparionEOS Group, and the venture arm of TRUMPFMore here.

 

Arbe Robotics, a two-year-old, Tel Aviv, Israel-based developer of high-resolution automotive radar systems, has raised $9 million in  funding led by O.G. Tech Ventures. TechCrunch has more here.

 

Atom Switch, a months-old, Charlotte, N.C.-based maker of solid state circuit breakers, has raised $3 million from investors, shows an SEC filing.

 

Built Technologies, a two-year-old, Nashville, Tn.-based online lending company focused on the construction industry, has raised $20.6 million in funding, including from Index Ventures, shows an SEC filing. More here.

 

GetYourGuide, an eight-year-old, Berlin, Germany-based travel activities booking platform, has raised $75 million in Series D funding led by Battery Ventures, with participation from earlier backers KKRSpark Capital, Highland Europe,Sunstone Capital and Nokia Growth Partners. The round brings the total raised by the company to roughly $170 million. TechCrunch has more here.

 

Globality, a two-year-old, Menlo Park, Ca.-based advisory marketplace for business services, has raised  $35 million in funding, including from THK EquitiesRaine Ventures, and numerous individual investors, including Al GoreMore here.

 

Instart Logic, a seven-year-old, Palo Alto, Ca.-based company that accelerates web and mobile performance for its enterprise customers, has raised $30 million in new funding led by ST Telemedia. The company had previously raised $110 million, including from Geodesic CapitalKleiner Perkins Caufield & Byers andAndreessen Horowitz. TechCrunch has more here.

 

Kano, a nearly five-year-old, London-based startup that teaches kids and adults about computers and coding through do-it-yourself hardware building kits, raised $28 million in funding. Investors include Thames TrustBreyer CapitalIndex Ventures, the Stanford Engineering Venture FundLocalGlobeMarc BenioffJohn MakinsonCollaborative FundTriple Point Capital, andBarclays. TechCrunch has more here.

 

LumiThera, a four-year-old, Poulsbo, Wa.-based medical device company focused on treating ocular disorders and diseases, has raised $5.5 million in Series B funding led by WaterStone Capital, with participation from other investors, including RPR VentureMore here.

 

Onica (fomerly known as CorpInfo), a 34-year-old, Santa Monica, Ca.-based provide of IT consulting services, has raised $20 million in funding from Sunstone PartnersMore here.

 

Pomelo, a two-year-old, New York- and Bangkok-based online fashion brand, has raised $19 million in funding led by JD.com. TechCrunch has more here.

 

Rallyteam, a four-year-old, San Francisco-based mobile-based employee engagement platform, is raising $8.6 million in funding led by Norwest Venture Partners, with participation from Storm VenturesCornerstone OnDemand andWilson SonsiniMore here.

 

Recorded Future, an eight-year-old, Somerville, Ma.-based threat intelligence company, has raised $25 million in Series E funding led by Insight Venture PartnersMore here.

 

Testim, a three-year-old, San Francisco-based SaaS company that conducts end-to-end app testing, has raised $5.6 million in Series A funding led by Lightspeed Venture PartnersMore here.

 

TransferWise, the six-year-old, London-based international money transfer company (and one of Europe’s better-known unicorns), has announced $280 million in Series E funding led by asset management firm Old Mutual Global Investors, with participation from Institutional Venture Partners. TechCrunch says some of the capital is being used to buy earlier investors’ secondary shares and that the company is valued in this new deal at $1.6 billion. More here.

 

VitalConnect, a six-year-old, San Jose, Ca.-based maker of wearable biosensor technology for wireless monitoring in hospitals and remote patient populations, has raised $38 million in Series C funding. MVM and Baxter Ventures led the round. FierceBiotech has more here.

 

 

Sponsored By . . .

 

 

If you’re an accredited investor looking for new investment opportunities, check out Angel Capital Expo, coming up Thursday, November 16, in San Francisco. You’ll join more than 300 angel investors and founders who’ve already registered to hear 16 highly vetted startups deliver their pitches. It’s our second and last event of 2017, and StrictlyVC readers who apply the promo code StrictlyVC will receive 15 percent off of the standard ticket price of $150. Register today.

 

 

New Funds

 

BioGeneration Ventures, an 11-year-old, Naarden, Netherlands-based venture capital firm, has raised €82 million ($95.3 million) in capital commitments for its third fund. BGV, as the firm is known, focuses on early-stage European biotech, medtech, and diagnostics companies. More here.

 

Brighteye Ventures, a nine-month-old, Luxembourg-based venture firm, has closed its first venture fund with €50 million in commitments ($58.3 imllion) to invest in education technology startups. Tech.eu has more here.

 

Cypress Growth Capital, a royalty-based growth capital fund, has closed its third fund with $42 million in capital commitments. Cypress was founded in 2010; its “royalty-based” approach entails buying the right to a percentage of a company’s receipts. (As cofounder Arthur Fox told us when the firm was getting off the ground, the firm’s concern is “getting [a company] to survive, as opposed to speeding it along.”)

 

Klingenstein Fields Wealth Advisors, a New York-based investment manager, plans to raise $50 million for a venture fund, according to an SEC filing.

 

 

 

Exits

 

VMware has struck a deal to acquire software-based networking startup VeloCloud Networks in a move that is likely to escalate VMware’s rivalry with Cisco Systems,says The Information. Terms of the deal aren’t being disclosed. VeloCloud, founded in 2012, had raised $84 million from investors, including, VenrockNew Enterprise Associates, and, notably, Cisco.

 

 

IPOs

 

Allena Pharmaceuticals, a six-year-old, Newton, Ma.-based developer of oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders, raised $75 million in its IPO. Its biggest outside shareholders, leading into the IPO, were Frazier HealthcareThird Rock VenturesBessemer Venture PartnersHBM BioCapitalFidelity and Partner Fund Management. Nasdaq has more here.

 

HelloFresh, the Berlin-based cooking kit delivery company, priced its IPO at the middle of its expected range at €10.25, or roughly $11.91. TechCrunch has more here.

 

SendGrid, an eight-year-old, Denver-based email marketing platform, has revealed IPO plans to offer 7.7 million shares at between $13.50 and $15.50 per share, which would give it a market share of roughly $823 million were it to price in the middle of its range. The company’s biggest outside shareholders heading into the offering areFoundry Group, which owns nearly 30 percent of the company, Bessemer Venture Partners (22.51%), Highway 12 Ventures (13.9%) and Bain Capital Ventures (7.03%). Denver Business Journal has more here.

 

 

 

Essential Reads

 

AltSchool, a new school that promotes self-direction, was founded by ex-Googler Max Ventilla, and has attracted more than $172 million in funding — including from Andreessen Horowitz and Mark Zuckerberg — is scaling back and shutting a school as losses pile up. Bloomberg has more here.

 

Most California employers will have to change key hiring practices in order to comply with new state laws effective Jan. 1, which is coming up fast. These laws impact job applications, interviews, background checks and compensation. Read up on them here.

 

China’s ride-sharing giant Didi Chuxing is going to build an electric car charging network, for its own cars as well as for the public, the company announced. More here.

 

 

Detours

 

John Boehner unchained (great read).

 

A judge in Hawaii has sentenced a man to write 144 compliments about his ex-girlfriend.

 

How the White House gutted the U.S.D.A. and endangered America’s food, by Michael Lewis.

 

 

Retail Therapy

 

The Legion of Regrettable Super Villains. (Hah.)

 


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