The Briefing: Stripe Lands $600M At $95B Valuation, ElevateBio Raises $525M, 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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Stripe valuation hits $95B with latest $600M round

Payments technology provider Stripe raised $600 million in a Series H funding round that set a $95 billion valuation for the San Francisco- and Dublin-based company.

In its funding announcement, Stripe said it will use the money to invest in its European operations, and its Dublin headquarters in particular. Primary investors in the round include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency.

— Joanna Glasner

ElevateBio secures $525M Series C

Cell and gene therapy startup ElevateBio just announced the close of a $525 million Series C financing. Matrix Capital Management led the round, joined by a long list of new and existing investors.

Previously, the Cambridge, Massachusetts-based startup had raised $320 million in known venture funding, per Crunchbase data.

— Joanna Glasner

Insitro raises $400M Series C

Insitro, a drug discovery and development startup with a focus on machine learning, raised $400 million in its Series C funding round.

Canada Pension Plan Investment Board led the financing for the South San Francisco, California-based company, joined by several existing investors.

Founded in 2018, Insitro has raised at least $743 million to date in known funding, per Crunchbase data.

— Joanna Glasner

Fintech

Genesis raises $45 million: London based Genesis, a low-code platform for financial markets, raised a $45 million series B led by Accel. New investors GV and Salesforce Ventures1 joined the round along with existing investors Citi, Illuminate Financial and Tribeca Venture Partners. The company, with offices in London, New York and São Paulo, helps financial institutions build new applications faster.

upSWOT banks $4.3M to work with SMBs: Fintech platform upSWOT announced $4.3 million in seed funding, led by Common Ocean Ventures, to give the startup $5 million total funding since its inception in 2019, according to Crunchbase data. The Charlotte, North Carolina-based company enables banks to serve small and medium businesses by connecting, collecting and normalizing data from more than 120 business software tools they regularly use. The new funding is intended for U.S. expansion, hiring new staff and product development, the company said.

— Christine Hall

Cybersecurity

Lookout buys CipherCloud: San Francisco-based cybersecurity provider Lookout has acquired cloud-native secure access service edge (SASE) company CipherCloud. San Jose-based CipherCloud had raised $80 million since being founded in 2010, according to Crunchbase data.

SASE companies deliver networking and security from the cloud to a company’s network edge — avoiding potential bottlenecks in the datacenter. Palo Alto Networks acquired software-defined wide-area network (SD-WAN) developer CloudGenix for $420 million in March of last year to strengthen its SASE offering.

In other cybersecurity news, San Mateo, California-based LoginID raised a $6 million seed round. LoginID adds biometrics security features to websites, applications and e-commerce platforms in minutes. The funding round was led by several fintech entrepreneurs and former investors in Mobeewave.  The round also included investments from Asli RI, the largest KYC provider in Indonesia, and Leonis Invetissement.

— Chris Metinko

Illustration: Dom Guzman