Morning Report: Today’s busy funding cycle brought three known rounds that were $100 million or more. Here they are.
We’re in the midst of a great time period for private, quickly-growing technology and technology-powered companies to raise money. Venture capital tallies are running hot around the world, and valuations are ticking higher as public markets remain strong.
So you’d expect to see a host of companies raising money while the times are still good. Today, three companies announced funding rounds of over $100 million. These funding events were not the only new rounds announced today, but they were the largest.
- Tanium raises $175 million (via Pro Rata). The company, focused on endpoint security, has now raised a total of $580.7 million, per Crunchbase. The new capital comes after another endpoint security shop Carbon Black had a cracking IPO. (Crunchbase News spoke with the CEO of that company here.)
- Lulus raises $120 million (via Term Sheet). A fast-fashion brand that is popular on social media that does nine-figure revenue and is profitable (per CNBC).
- Circle raises $110 million (via Crunchbase Daily). Circle, a well-known crypto-based finance shop, has now raised a total of $246 million. The Boston-based firm is now worth over $3 billion, per Crunchbase.
What’s fun about today’s nine-figure raises is the diversity of genre of companies involved. One works on cybersecurity, one works on fashion, and one is in the crypto space. The mix goes to show that it’s not just one area of tech that’s able to raise IPO-scale amounts of money.
From The Crunchbase Daily:
- Half a billion dollars will buy a lot of scooters. That’s the sum two-year-old bike and scooter sharing startup Lime is reportedly seeking in hopes of gaining the lead in the fast-growing space.
- Canaan Creative, the world’s second-biggest maker of Bitcoin mining hardware, reportedly submitted an application for an initial public offering in Hong Kong that could raise about $1 billion for the China-based company. Meanwhile, in other crypto news, startup Circle has raised $110 million for a dollar-pegged cryptocurrency.
- It’s been a good week for artificial intelligence companies raising early stage rounds. Alloy, developer of AI-powered supply chain software, just announced a $12 Million Series A round. Around the same time, Beautiful.AI, which makes AI-enabled presentation software, revealed an $11 million Series B round.
- The idea of sending out paid email newsletters isn’t new. What is new, however, is the crop of companies providing the publishing and subscription infrastructure to writers who want to start a newsletter without the hassle of chaining together several platforms.
From Crunchbase: Build Your Pipeline and Market Strategy (Live Webinar)
- Tracking prospects and competitors is hard in our rapidly-changing world. In this 30 minute webinar, learn how to discover startup trends, new prospects, and more. Sign up for our live webinar today and mark your calendar for May 23 at 10 AM PST.