The Briefing: FalconX Hits $3.75B Valuation, Freshbooks Lands $130M, 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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Crypto platform FalconX hits $3.75B valuation

Digital currency trading platform FalconX hit a valuation of $3.75 billion for its latest funding round — a more than fivefold increase in five months, according to a Bloomberg report.

The San Mateo, California-based startup, founded in 2018, reportedly raised raised $210 million in a fresh funding round. Lead investors for the financing were Altimeter Capital, Sapphire Ventures, B Capital Group and Tiger Global Management.

FreshBooks lands $130M

Toronto-based FreshBooks, a provider of cloud-based accounting software, raised $130 million in fresh funding at a valuation of over $1 billion.

The funding consisted of just over $80 million in Series E equity financing and $50 million in debt financing, with longtime backer Accomplice as lead investor. Previously, FreshBooks had raised around $75 million in known funding, per Crunchbase data.

Funding rounds

Butternut Box snags $55M for dog food: London-based Butternut Box, a direct-to-consumer provider of gourmet dog foods, raised £40 million ($55 million). L Catterton led the financing for the 5-year-old company.

—  Joanna Glasner

LaunchDarkly hits $3B valuation: Oakland, California-based LaunchDarkly closed a $200 million Series D led by Lead Edge Capital with new investors Top Tier Capital Partners and Insight Venture Partners, as well as existing investors Bessemer Venture Partners, Redpoint, Threshold, Uncork Capital and Bloomberg Beta participating.

The company’s platform is used by developers to release new software after testing, and now has a post-money valuation of $3 billion. Founded in 2014, LaunchDarkly has raised a total of $330 million, according to Crunchbase data.

— Chris Metinko

OwnBackup closes Series E at $3.35B valuation: New Jersey-based OwnBackup raised a $240 million Series E co-led by Alkeon Capital and B Capital Group. The round also included a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures 1, Sapphire Ventures and Vertex Ventures also participated.

The round raises the company’s valuation to $3.35 billion — $2 billion more than when it raised its Series D in January.

Founded in 2015, the cloud data protection platform, has now raised nearly $500 million to date.

— Chris Metinko

Illustration: Dom Guzman

  1. Salesforce Ventures is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

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