Category: Co-founder

Mark Cuban-backed Eterneva raises $10M to turn your loved one’s ashes into diamonds



The loss of a loved one is perhaps one of the most traumatic things a person can experience.

When it comes to memorializing someone after their death, most people think of planning funerals and/or picking out caskets or tombstones. And those things are typically done with the help of a funeral home.

Enter Austin-based Eterneva, which is building a rare direct to consumer brand in the end-of life-space. The four-year-old startup creates diamonds from the cremated ashes or hair of people and pets. It’s a highly unusual business but one that seems to be resonating with people seeking a way to keep a piece of their loved ones close to them after their death.

Since its inception, Eterneva has seen triple-digit growth in sales — including in 2020, when it more than doubled its revenue, according to CEO and co-founder Adelle Archer. And today, the company is announcing an “oversubscribed” $10M Series A led funding round led by Tiger Management with participation from Goodwater Capital, Capstar Ventures, NextCoast Ventures and Dallas billionaire Mark Cuban. (For the unacquainted, Tiger Management is the hedge fund and family office of Julian Robertson from which Tiger Global Management descended.)

“It was an extremely competitive round,” Archer told TechCrunch. “We received three term sheets and were able to put together an all-star investment group.” That investment group included Capstar Managing DIrector Kathryn Cavanaugh, who also joined Eterneva’s board; Lydia Jett – one of the top female partners at Softbank overseeing their (Read more...)

Nowports raises $16M to build the OS for LatAm’s shipping industry



Nowports, an automated digital freight forwarder in Latin America, has raised $16 million in Series A funding.

Mouro Capital — a venture capital fund focused on fintechs and adjacent businesses that is backed by Banco Santanderled the round for the Monterrey, Mexico-based startup. Foundation Capital also participated in the financing, which included participation from existing backers Broadhaven Ventures, InvestoVC, Monashees, Base10 Partners and Y Combinator.

A number of angels also put money in the round, including Justo.mx founder Ricardo Weder, Luuna’s Carlos Salinas from Luuna and Tinder co-founder Justin Mateen. The investment brings Nowports’ total raised since its 2018 inception to over $24 million.

Nowports raised its initial seed round in 2019 after graduating from Y Combinator’s Winter 2019 batch with a mission to innovate the freight forwarding industry by helping companies improve the import process. Its software and services track freight shipments from ports to destinations across Latin America. Over time, it has expanded its offerings and now also automates insurance policies for, and provides financing, to its clients. 

“In this way, we allow our clients to import and export more, which helps them grow their businesses and improves the foreign trade conditions of the region,” said Nowports CEO and co-founder Alfonso de los Rios.

2020 was a good year for Nowports, which saw its revenue climb by 605% compared to 2019.

“Our 2021 goal is 400% to 600%,” de los Rios told (Read more...)

Mercuryo raises $7.5M for crypto-focused cross-border payments after crossing $50M in ARR



Mercuryo, a startup that has built a cross-border payments network, has raised $7.5 million in a Series A round of funding.

The London-based company describes itself as “a crypto infrastructure company” that aims to make blockchain useful for businesses via its “digital asset payment gateway.” Specifically, it aggregates various payment solutions and provides fiat and crypto payments and payouts for businesses. 

Put more simply, Mercuryo aims to use cryptocurrencies as a tool for putting in motion next-gen cross-border transfers or as it puts it, “to allow any business to become a fintech company without the need to keep up with its complications.”

“The need for fast and efficient international payments, especially for businesses, is as relevant as ever,” said Petr Kozyakov, Mercuryo’s co-founder and CEO. While there is no shortage of companies enabling cross-border payments, the startup’s emphasis on crypto is a differentiator.

“Our team has a clear plan on making crypto universally available by enabling cheap and straightforward transactions,” Kozyakov said. “Cryptocurrency assets can then be used to process global money transfers, mass payouts and facilitate acquiring services, among other things.” 

Mercuryo began onboarding customers at the beginning of 2019, and has seen impressive growth since with annual recurring revenue (ARR) in April surpassing over $50 million. Its customer base is approaching 1 million, and the company has partnerships with a number of large crypto players including Binance, Bitfinex, Trezor, Trust Wallet, Bithumb and Bybit. In 2020, the company said its turnover spiked by 50 times while run-rate (Read more...)

The LatAm funding boom continues as Kaszek raises $1B across a duo of funds



Long before SoftBank launched its $2 billion Innovation Fund in Latin America, and before Andreessen Horowitz began actively investing in the region, Sao Paulo-based Kaszek has been putting money into promising startups since 2011, helping spawn nine unicorns along the way.

And now, the early-stage VC firm is announcing its largest fund closures to date: Kaszek Ventures V, a $475 million early-stage fund, believed to be the largest vehicle of its kind ever raised in the region, and Kaszek Ventures Opportunity II, a $525 million for later-stage investments.

Over the years, Kaszek has backed 91 companies, which the firm says collectively have raised over $10 billion in capital. 

MercadoLibre co-founder Hernán Kazah and the company’s ex-CFO, Nicolas Szekasy, founded Kaszek a decade ago after leaving LatAm’s answer to Amazon. Fun fact: the firm’s name comes from a combination of their two last names: Ka-Szek. Rounding out the team are Nicolas Berman, former VP at MercadoLibre, Santiago Fossatti, Andy Young and Mariana Donangelo.

Kaszek founded its first fund in 2011, raising $95 million, an impressive sum at that time. Funds II and III closed in 2014 and 2017, raising $135 million and $200 million, respectively. By 2019, Kaszek had closed on its fourth fund, raising $375 million and its first Opportunity Fund, reserving $225 million for later-stage investing in existing portfolio companies.

It’s notable that in its fifth fund, Kaszek is reserving more of its (Read more...)

How 4 New Jersey pools turned into a startup that just raised $10M



As the oldest of 12 children, Bunim Laskin spent much of his teen years looking for ways to help keep his siblings entertained. Noticing that a neighbor’s pool was often empty, Laskin reached out to ask if his family could use her pool. To make it worth her while, he suggested that they could help cover her expenses for maintaining the pool.

Soon after, five other families had made the same arrangement with her and the pool owner had six families covering 25% of her expenses. This meant that the neighbor was actually making money off her pool. The arrangement sparked a business idea in Laskin’s mind. At the age of 20, he founded Swimply, a marketplace for homeowners to rent out their underutilized pools to local swimmers, with Asher Weinberger.

The Cedarhurst, New York-based company launched a beta in 2018, starting with four pools in the New Jersey area. 

“We used Google Earth to find houses, and then knocked on 80 doors with a pool,” CEO Laskin recalls. “We got to 100 pools organically. Word of mouth really helped us grow.” The site was pretty bare bones, he admits, with potential customers only able to view photos of the pools and connect with the pool owner by phone.

That year, Swimply did around 400 reservations and raised $1.2 million from friends and family.

In 2019, Swimply launched what he describes as a “proper” website and app with an automated platform. It grew “4 to 5 times” that year, (Read more...)

HoneyBook raises $155M at $1B+ valuation to help SMBs, freelancers manage their businesses



HoneyBook, which has built out a client experience and financial management platform for service-based small businesses and freelancers, announced today that it has raised $155 million in a Series D round led by Durable Capital Partners LP.

Tiger Global Management, Battery Ventures, Zeev Ventures, 01 Advisors as well as existing backers Norwest Venture Partners and Citi Ventures also participated in the financing, which brings the New York-based company’s valuation to over $1 billion. With the latest round, HoneyBook has now raised $215 million since its 2013 inception. The Series D is a big jump from the $28 million that HoneyBook raised in March 2019. 

When the COVID-19 pandemic hit last year, HoneyBook’s leadership team was concerned about the potential impact on their business and braced themselves for a drop in revenue.

Rather than lay off people, they instead asked everyone to take a pay cut, and that included the executive team, who cut theirs “by double” the rest of the staff.

“I remember it was terrifying. We knew that our customers’ businesses were going to be impacted dramatically, and would impact ours at the same time dramatically,” recalls CEO Oz Alon. “We had to make some hard decisions.”

But the resilience of HoneyBook’s customer base surprised even the company, who ended up reinstating those salaries just a few months later. And, as corporate layoffs driven by the COVID-19 pandemic led to more people deciding to start their own businesses, HoneyBook saw a big surge in demand.

“Our members who (Read more...)

Alchemy raises $80M at a $505M valuation to be the ‘AWS for blockchain’



Blockchain developer platform Alchemy announced today it has raised $80 million in a Series B round of funding led by Coatue and Addition, Lee Fixel’s new fund. The company previously raised a total of $15.5 million, so the latest financing brings its total raised to $95.5 million since it launched in 2017.

The latest round caught our attention for a few reasons.

First, the company, which describes itself as the backend technology behind the blockchain industry, went from public launch to a $505 million valuation in a matter of just eight months. During that time, Alchemy says it powered over $30 billion in transactions for tens of millions of users all over the world. Second, the startup says it also already powering the majority of the NFT industry.

And finally, its investors in the round include a high-profile mix of institutions and individuals such as DFJ Growth, K5 Global, the Chainsmokers, actor Jared Leto and the Glazer family (owners of the Tampa Bay Buccaneers and Manchester United). They joined existing backers including Yahoo co-founder and former CEO Jerry Yang, Pantera Capital, Coinbase, SignalFire, Samsung, Stanford University, Google chairman and Stanford University President John L. Hennessy, Charles Schwab, LinkedIn co-founder Reid Hoffman and others.

Sources with inside knowledge of Alchemy’s operations tell TechCrunch that the company has already grown its business more than eightfold since it signed the Series B term sheet. They also said Alchemy had over $300 million of investor demand wanting to enter the round and (Read more...)

Brazil’s Loft adds $100M to its accounts, $700M to its valuation in a single month



Nearly exactly one month ago, digital real estate platform Loft announced it had closed on $425 million in Series D funding led by New York-based D1 Capital Partners. The round included participation from a mix of new and existing investors such as DST, Tiger Global, Andreessen Horowitz, Fifth Wall and QED, among many others.

At the time, Loft was valued at $2.2 billion, a huge jump from its being just near unicorn territory in January 2020. The round marked one of the largest ever for a Brazilian startup.

Now, today, São Paulo-based Loft has announced an extension to that round with the closing of $100 million in additional funding that values the company at $2.9 billion. This means that the 3-year-old startup has increased its valuation by $700 million in a matter of weeks.

Baillie Gifford led the Series D-2 round, which also included participation from Tarsadia, Flight Deck, Caffeinated and others. Individuals also put money in the extension, including the founders of Better (Zach Frenkel), GoPuff, Instacart, Kavak and Sweetgreen.

Loft has seen great success in its efforts to serve as a “one-stop shop” for Brazilians to help them manage the home buying and selling process. 

Image courtesy of Loft

In 2020, Loft saw the number of listings on its site increase “10 to 15 times,” according to co-founder and co-CEO Mate Pencz. Today, the company actively maintains more than 13,000 property listings in approximately 130 regions across São Paulo and Rio de Janeiro, partnering with more than 30,000 (Read more...)

Citadel ID raises $3.5M for API-delivered income and employment verification



This morning Citadel ID announced a combined $3.5 million raise for its income and employment verification service. The startup provides an API to customer companies, allowing them to rapidly verify details of consumer employment.

The capital came from a blend of venture firms and angels. On the firm side, Abstract and Soma VC were in there, along with ChapterOne. Brianne Kimmel put capital in as well, according to the startup. And denizens with work histories at companies like Zynga (Mark Pincus), Stripe (Lachy Groom), Carta (Henry Ward), and others also put cash into the fundraise.

Citadel was founded back in June of 2020, before raising capital, snagging its first customer, and shipping its product all inside of the same year.

The idea for Citadel ID came when co-founder Kirill Klokov worked at Carta, the cap-table-as-a-service startup that recently built an exchange for the trading of private stock. Klokov discovered while working on the tech side of the company how hard it was to verify certain data, like employment and income and identity.

As Carta deals with money, stock, and the collection and distribution of both, you can imagine why having having a quick way to verify who worked where, and since when, mattered to the company. But Klokov came to realize that there wasn’t a good solution in the market for what Carta needed, sans building integrations to a host of payroll managers by hand and (Read more...)