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.
Subscribe to the Crunchbase Daily
Similarweb files for IPO
Similarweb, a provider of online market intelligence, has filed to go public on the New York Stock Exchange. The company has not yet determined the number of shares it will offer or the proposed share price range.
The Tel Aviv-based company posted revenue of $93.5 million in 2020, up from $70.6 million in 2019. It reported a net loss of $22 million last year, up from $17.7 million in 2019.
Founded in 2007, Similarweb previously raised at least $235 million in known private funding, per Crunchbase data.
— Joanna Glasner
Ocado invests $13.8M in Oxbotica: British online grocer Ocado is reportedly investing £10 million ($13.8 million) in Oxford-based autonomous vehicle software company Oxbotica as part of a deal that aims to reduce the cost of last-mile delivery and other logistics.
Fintern raises £32m in equity and debt funding: Fintern, a London-based startup looking to offer an AI-driven alternative to costly payday loans, announced that it has raised £32m ($44 million) in fresh debt and equity financing.
— Joanna Glasner
Health and well-being
Hallow inks $12M for Catholic meditation app: Hallow, a Catholic prayer and meditation app, announced $12 million in Series A funding, led by General Catalyst, to invest in more content, add staff and expand its customer base. The Chicago-based company was founded in 2018 and has grown to more than 10 million prayers completed through its app, co-founder and CEO Alex Jones said.
Zip Run grabs $2.3M to deliver cannabis: Boston-based cannabis delivery company Zip Run secured $2.3 million in seed funding led by Mollitiam Capital. The company was co-founded in 2020 by Gabriel Vieira, CEO, Christian Nicholson, COO, Elis Omoroghomwan, CGO and Michael Gordon, CTO. Zip Run says it is on track to become the first licensed delivery service for adult-use cannabis in Boston. Its proprietary e-commerce platform integrates with retailers’ inventory systems to enable consumers to order products directly from the Zip Run website. The company then picks up and delivers through dispensary partners, and will be able to buy wholesale products from cultivators for delivery when its Boston warehouse opens this summer. Crunchbase data shows 2021 investment into cannabis-focused companies of $357 million into 29 companies, led by a $200 million Series C round last month for Dutchie, which outfits dispensaries with the technology and tools needed to provide safe and easy access to cannabis. Experts say federal legalization can open the floodgates for more activity and venture capital investment in the sector.
— Christine Hall
Inspirato reportedly in talks to merge with SPAC: Luxury travel startup Inspirato is in talks to merge with the special purpose acquisition company Thayer Ventures Acquisition Corp., Bloomberg reported Thursday. The news comes as the travel industry is expected to rebound following the rollout of COVID-19 vaccines and pent-up leisure travel demand. The Denver-based company is backed by investors including IVP and W Capital Partners, according to Crunchbase.
— Sophia Kunthara
Fintech and e-commerce
Level raises $27M: Level, a New York-based technology company that makes financial products for employers, raised $27 million in Series A funding led by Khosla Ventures and Lightspeed Venture Partners. Level intends to use the new funding to expand into the insurance market to help businesses offer modern benefits, and will start with dental and vision.
Soona inks $10.2M: Soona, a virtual content creation platform for e-commerce, announced $10.2 million in Series A funding, led by Union Square Ventures. The Denver-based company plans to deploy the new capital into technology development and to introduce a subscription product.
— Christine Hall
Illustration: Dom Guzman
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.