The Briefing: Ribbit Capital Raises $1.155B, Elizabeth Holmes’ Verdict, 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.

Ribbit Capital raises $1.155B for 7th fund, per filing

Ribbit Capital, a venture capital firm known for fintech investment, has raised $1.155 billion for its seventh fund, according to a securities filing.

Founded in 2012, the Palo Alto-based firm counts several companies in its portfolio that have gone on to secure hefty valuations on public markets, including Affirm, Coinbase, Robinhood and Nubank. The firm raised its last fund, a $420 million Fund VI, in January 2020, per Crunchbase data.

The amount raised for the latest fund is significantly higher than the $750 million the firm was said to be raising in March of 2021, according to a TechCrunch report.

— Joanna Glasner

Elizabeth Holmes found guilty on four charges

Former Theranos founder Elizabeth Holmes was found guilty on four charges of defrauding investors, CNN reported. Holmes was found not guilty on three  charges regarding defrauding patients and one charge of conspiracy to defraud patients, while the jury couldn’t reach a verdict on three other charges. Holmes’ trial follows the rise and fall of Theranos, which raised more than a billion dollars in funding from prominent investors before questions about the efficacy of its blood tests led to its demise. Holmes faces 20 years in prison for each count, along with a fine of $250,000 and restitution for each count, according to CNN.

— Sophia Kunthara

HUMAN Closes $100M Round

New York-based HUMAN Security raised a $100 million growth round led by WestCap, with additional investment from NightDragon and other current investors. The company, previously known as White Ops, helps protect companies against bot attacks and fraud.

Founded in 2012, HUMAN Security has raised approximately $142 million to date, according to Crunchbase data.

— Chris Metinko

Google acquires Siemplify

Google announced it has acquired Israel-based cybersecurity firm Siemplify. Terms of the deal were not disclosed, but it was reported by multiple outlets the sale price was $500 million in cash.

Siemplify is a security orchestration, automation and response (SOAR) provider. SOAR offerings have become popular in recent years with companies needing their various different cybersecurity tools to be able to communicate with each other effectively and automatically respond to issues.

— Chris Metinko

Funding rounds

Liquid Death lands $75M:  Santa Monica, California-based Liquid Death, a purveyor of water from the Austrian Alps sold in recyclable aluminum cans, raised $75 million in a Series C funding round led by venture firm Science. The 5-year-old company sells its wares online and at multiple major grocery retail chains.

— Joanna Glasner

Exotel picks up $40M: Bangalore-based Exotel, a provider of customer engagement software, raised $40 million in a Series D funding round led by Steadview Capital. The latest financing comes just over four months after the company raised a $35 million Series C round.

— Joanna Glasner

Illustration: Dom Guzman


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