The Briefing: Patreon Hits $4B Valuation, Groww Lands $83M, And More

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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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Patreon lands $155M at $4B valuation

Patreon, a platform connecting musicians and other artists with their fan base, reportedly raised $155 million in fresh financing.

Tiger Global Management led the round which sets a valuation of $4 billion for the 8-year-old, San Francisco-based company. Previously, Patreon has raised at least $258 million in known funding, per Crunchbase data.

— Joanna Glasner

Funding news

Groww lands $83M: Groww, an India-based platform for investing in stocks and mutual funds, raised $83 million in a Series D financing led by Tiger Global Management that sets a valuation of close to $1 billion.

— Joanna Glasner

Clubhouse eyes fundraise at around $4B valuation: Audio-based social networking forum Clubhouse is in talks to raise funding in a round valuing the business at about $4 billion, according to a Bloomberg report citing unnamed sources. At that valuation, Clubhouse would be worth approximately four times what it was valued at in January.

— Joanna Glasner

Fintech and e-commerce

Flash Coffee brews up $15M: Singapore-based Flash Coffee, a tech-enabled coffee chain, raised $15 million in Series A funding led by White Star Capital. The new funding brings Flash Coffee’s total capital raised to $20 million, the company said. Launched in January 2020, Flash Coffee now operates 50 locations across Singapore, Thailand and Indonesia. Customers use their app to order and pay online, choosing to pick up orders from one of the Flash Coffee storefronts or order for delivery through major platforms in each market.

VATBox, now Blue dot, raises $32M: Netherlands-based Blue Dot, formerly known as VATBox, provider of an AI-driven, cloud-based tax compliance platform, closed a $32 million funding round led by Ibex Investors in partnership with Lutetia Technology Partners.

— Christine Hall

Health care

Firefly Health closes $40M: Firefly Health, a virtual-first health care company, announced $40 million in Series B financing led by Andreessen Horowitz. Headquartered in Watertown, Massachusetts, Firefly assigns patients a dedicated care team for both virtual and in-person coaching and support, as well as on-site access to urgent care providers, home care providers, specialty-care organizations and specialty partners.

— Christine Hall

Enterprise software

Phenom lands $100M Series D: Philadelphia-based Phenom, an AI-powered recruitment platform developer, closed a $100 million Series D round led by B Capital Group. Dragoneer Investment Group, OMERS Growth Equity and GoldenArc Capital also participated in the round. The company plans to use the new funding to continue  developing its Talent Experience Management platform, an HR platform that helps companies find talent. Phenom, founded in 2010, has raised $160.7 million to date, according to Crunchbase.

— Chris Metinko


Cofense hooks Cyberfish: Leesburg, Virginia-based Cofense acquired Tel Aviv-based Cyberfish, an email and phishing security provider. Terms of the deal were not announced. Cofense, which provides phishing detection and response, as well as cybersecurity awareness training, expects to integrate Cyberfish’s machine-learning capabilities into its platform.

— Chris Metinko

Illustration: Dom Guzman


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