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
NextDoor To Go Public Via SPAC
Nextdoor, the social network known for connecting neighbors, said Tuesday that it planned to go public through a special purpose acquisition company formed by Khosla Ventures. The deal, which is valued at $4.3 billion, follows another Khosla Ventures-backed SPAC merger. Khosla Ventures Acquisition Co. said last month that it would be merging with Valo Health to bring the latter company public.
ManoMano raises $355M for home improvements
Founded in 2013, the company previously raised $350 million in known funding, per Crunchbase data. ManoMano says its marketplace currently lists more than 4 million products across 6 countries : France, Belgium, Italy, Spain, Germany and the United Kingdom.
Denmark’s Pleo lands $150M for company cards
The financing sets a valuation of $1.7 billion for the 6-year-old company, which markets its “smart company cards” as a way to automate expense reports and simplify spending. Currently, the company operates in several European countries, with plans to use the funding to boost usage.
Didi shares plummet: Shares of Chinese ride-hailing giant Didi Chuxing fell sharply after China announced that new users in the country would not be able to download the app while it conducts a cybersecurity review of the company. Shares were down around 20 percent in pre-market trading Tuesday, less than one week after the company carried out its massive NYSE IPO.
— Joanna Glasner
Blend Aims To Raise $360M Through IPO: Mortgage lending digital platform Blend said in a filing Tuesday that it intends to price its shares between $16 and $18 for its upcoming IPO. At that range, the company would raised up to $360 million through the offering, giving Blend Labs a valuation of almost $4 billion. The company, which filed a confidential S-1 with the SEC in April, is backed by investors including Coatue and Tiger Global Management.
Deep Instinct secures $67M: New York-based cybersecurity firm Deep Instinct received an additional $67 million as part of its recently announced Series D from Chrysalis Investments. In April, the company announced it had received $100 million led by Blackrock, with participation from Untitled Investments, The Tudor Group, Millennium, Unbound and Coatue Management.
The new equity investment brings Deep Instinct’s total funding to $240 million, Chrysalis said.
Deep Instinct uses deep learning to offset potential “zero-day” attacks — similar to the Kaseya ransomware attack that came to light this weekend. The company’s platform focuses on prediction and threat prevention.
— Chris Metinko
Illustration: Dom Guzman
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.