Briefing

The Briefing: Podium Picks Up $201M, Casper To Be Acquired, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Podium picks up $201M

Lehi, Utah-based Podium, developer of a communications platform for businesses to interact with local customers, reportedly raised $201 million in fresh financing.

The round, led by YC Continuity, reportedly sets a valuation around $3 billion. Founded in 2014, Podium previously raised at least $218 million in known funding, per Crunchbase data.

— Joanna Glasner

Casper sells to Durational Capital Management

Mattress company Casper said Monday that private equity firm Durational Capital Management will acquire it, less than two years after Casper’s IPO. Casper went public in February 2020 after raising more than $339 million in funding from investors including Lerer Hippeau and New Enterprise Associates. But the company went public at a lower valuation than its previous private valuation, and it’s struggled as a public company ever since. Now, Durational Capital is acquiring the company for $6.90 per share, much lower than the $12 per share IPO price Casper set last year. Casper’s stock opened at $6.78 on Monday.

–Sophia Kunthara

Paradigm announces new $2.5B crypto fund

San Francisco-based Paradigm — the venture firm launched by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang — announced a new $2.5 billion venture fund. The firm, founded in 2018, will use the money to invest in “the next generation of crypto companies and protocols,” it said in a blog post.

Crypto has seen an unprecedented level of venture interest this year, with even many traditional firms investing in the space.

— Chris Metinko

ThoughtSpot closes $100M raise at $4.2B valuation

Sunnyvale, California-based business intelligence and data analytics company ThoughtSpot closed a $100 million Series F round at a $4.2 billion valuation led by March Capital. The company’s data platform helps companies turn data into actionable insights.

Founded in 2012, the company has now raised a total of $674 million.

— Chris Metinko

Funding rounds

Pigment inks $73M for business planning: Pigment, provider of a planning and forecasting platform for growth companies, raised $73 million in a Series B funding round led by Greenoaks.

The Paris-headquartered company plans to open and ramp up staffing for U.S. offices in New York and Silicon Valley next year, with plans to triple the size of its business team by Q1 of 2022.

Founded in  2019, Pigment raised a $25.9 million Series A one year ago.

— Joanna Glasner

Zoomo lands $60M for e-bikes: Zoomo, an Australian startup that provides electric bikes and subscription financing plans, reportedly raised $60 million, including $30 million in equity and $30 million in debt financing, with Grok Ventures, Skip Capital and ArcTern Ventures leading the equity portion. The company markets its bikes to commuters and couriers.

— Joanna Glasner

Illustration: Dom Guzman

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