Collective Health nabs $110 million in funding

 Enterprise health management startup Collective Health has added another $110 million to the coffers from existing high-profile investors such as Founders Fund and Alphabet’s investment arm GV, bringing the total now raised to a cool $230 million. Read More

Startup that sells your salary data to VCs gets bought by Solium

 Investors don’t want their portfolio companies to pay you too much, or too little. So they pay Advanced-HR for its compensation data pulled from 2,500 startups. With a generic name, the service has flown somewhat under the radar since launching 20 years ago. As startups grow more professional while staying private longer, they’re getting serious about how they structure equity… Read More

Homebrew closed $90 million fund

 Homebrew is announcing the close of its third fund. This time they’ve raised $90 million, an increase from $50 million in 2015 and $35 million for its debut fund in 2013. Led by Hunter Walk and Satya Patel, the seed stage venture firm has spent the past five years investing in U.S.-based startups at the onset. Several of its portfolio companies have gone on to raise significant… Read More

Raise softly and deliver a big exit

 In the world of venture capital, the prospect of a successful “exit” looms large in the minds of investors. A VC’s business model is less about the money that goes into a startup than it is about what comes out. It’s true that most companies fail to exit gracefully, and of those that do, surprisingly few exit by going public. Read More

Cardlytics up 3% following IPO, raised $70 million

 Atlanta-based Cardlytics made its public debut on Friday, closing the day at $13.37, just a little above the IPO price of $13. The company sold 5.4 million shares, raising $70 million. Cardlytics works with financial institutions like Bank of America and 2,000 others to run cash back programs. It partners with brands across restaurant, retail, travel, grocery and home subscription categories… Read More

French VC firm Ring Capital raises $170 million fund

 Meet Ring Capital, a brand new VC firm based in Paris. The firm just raised a new $170 million fund (€140 million) and might still be raising another $10 million or so for this fund. Many new VC firms tend to focus on seed rounds at first. Ring Capital thinks there’s a Series A and Series B gap in France. That’s why Ring Capital plans to invest around €5 to €10 million ($6 to… Read More

Boxed in talks to be acquired by Kroger for $500 million

Boxed New York-based Boxed, the startup for buying food and household items in bulk, is in talks to be acquired by Kroger for about $500 million. Other retailers are also expected to be making bids. The news was first reported by Forbes and confirmed to TechCrunch by a source with knowledge of the situation. We’re hearing that the company is aiming to make a decision this weekend. Founded… Read More

Alkami raises $70 million for mobile banking software

 There’s a startup in Texas that’s been quietly building the technology that powers mobile banking apps. Plano-based Alkami has developed a white label service that credit unions and banks use across digital platforms. And Alkami’s 4.5 million users have generated enough revenue for the company to justify a $70 million Series D round, led by General Atlantic. Existing investors… Read More

Menlo, Benchmark, First Round sold Uber stakes worth hundreds of millions

 Uber finally got its secondary transaction done with SoftBank buying billions of shares last month. Now we’re learning more about who sold what. It was already known that major shareholder Menlo Ventures was looking to sell shares, but we’re  hearing confirmation that it wagered the majority of its holdings and successfully sold close to half of its stake, which the… Read More

Mapbox makes another acquisition to bolster its navigation toolkits

 Mapbox, the Softbank-backed developer of mapping applications that competes with Google Maps TomTom and Here, has acquired the intellectual property and developers behind MapZen’s Valhalla project in a bid to strengthen its navigation toolkits. The acquisition, made as Mapzen was winding down, brings the Valhalla development team in-house for a bargain price that Mapbox chief executive… Read More

Arianna Huffington’s Thrive Global raises $30M so you can work less and sleep more

 Arianna Huffington wants you to work smarter, not harder. She believes a corporate mentality that rewards burning the midnight oil is actually reducing productivity, by causing burnout. Lack of sleep could be costing the U.S. economy $411 billion per year, it turns out. So last year, the HuffPost founder and Uber board member, launched Thrive Global, a startup dedicated to reducing stress… Read More

SoftBank confirms that Benchmark and Menlo intend to sell Uber shares

 SoftBank Group has confirmed that it has found likely sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last private round.  The Japanese investment firm provided us with the following statement. “SoftBank and Dragoneer have received indications… Read More

SoftBank makes offer for Uber shares at 30% discount

 A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of the proposed deal tells TechCrunch. We’re hearing that the proposed price per share is $32.96, which works out to under $50 billion. Bloomberg… Read More

What is an IPO pop and why do VCs hate it so much?

 Over the weekend, several VCs tweeted that my headline recapping Stitch Fix’s first day of trading was too harsh. The headline read, “Stitch Fix up just 1% on first day of trading, after reducing size of IPO.” I didn’t say it “fumbled” or label it as “weak” and “disappointing” like many other media publications, but that would… Read More

Uber dealt with harassment class action lawsuit

 A class action lawsuit has been filed against Uber, claiming that the company hasn’t done enough to inform the public about alleged harassment and assault by drivers. The legal complaint, filed by Wigdor LLP on behalf of two plaintiffs, alleges that “thousands of female passengers have endured unlawful conduct by their Uber drivers including rape, sexual assault, physical violence… Read More

SoftBank looks to finalize Uber investment today

 After months of talks, SoftBank Group is close to finalizing its investment in Uber. Multiple sources tell TechCrunch that the deal is expected to be signed later in the day on Sunday. SoftBank plans to lead a $1 billion investment directly in the company alongside Dragoneer Investment Group. The joint venture will also buy up to $9 billion of shares from eligible existing shareholders in a… Read More

New venture capitalists find strength in numbers

 Ian Rountree, the twenty something captain at the helm of Cantos Ventures, an SF-based micro-fund, is characteristic of a new breed of venture capitalists in tech — a group of  small funds looking to go toe-to-toe with some of the valley’s most entrenched seed funds like First Round Capital and SV Angel. Rountree is experimenting with a strategy so antithetical to the venture… Read More

Feedzai closes $50M Series C to help banks and merchants identify fraud with AI

 Feedzai is announcing a $50 million Series C this morning led by an unnamed VC with additional capital from Sapphire Ventures. The six year old startup builds machine learning tools to help banks and merchants spot payment fraud. In today’s rapidly maturing world of fintech, Feedzai is trying to thread the needle between turnkey solution and customizable platform. With 60 clients… Read More