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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Cazoo raises $311M for used car app
U.K.-based Cazoo, developer of an online platform for buying and financing used cars, has raised £240 million ($311 million) in fresh funding.
This latest round takes the total funding in the two years since Cazoo was founded to £450 million.
Cazoo says it has hit revenues of over £100 million since its launch less than a year ago.
- SOPHiA Genetics lands $110M: SOPHiA Genetics, a Swiss startup focused on data-driven medicine, announced that it has raised $110 million in a Series F round led by aMoon and Hitachi Ventures.
- Olema secures $85M for women’s cancer treatments: Biopharmaceutical company Olema Oncology, closed on $85 million in Series C financing toward the development of its lead product candidate in breast cancer. Vivo Capital led the round with participation from new investors, including Avoro Capital Advisors and OrbiMed. All existing institutional investors also participated.
- Tend bites into $37M to expand: Dental startup Tend announced a $37 million Series B round of funding led by GV. New York-based Tend launched in October 2019, but had to close in March due to COVID-19. It reopened in June. The round brings Tend’s total funding to $73 million. Joining GV in the round was Juxtapose, Redpoint, Tiger Global, Zigg Capital and Good Friends. The company intends to use the new capital to expand outside of New York into Boston and Washington, D.C, open more than 20 locations by the end of 2021, roll out its first suite of products and scale its team and operations.
- Solo.io inks $23M: Solo.io, an API infrastructure company delivering application networking from the edge to service mesh, closed on a $23 million Series B round of financing, bringing the company’s total funding amount to $37 million. The round was co-led by prior investors Redpoint Ventures and True Ventures.
- Braintrust brings in $18M: Braintrust, a network of highly-skilled technical and design talent, closed on an $18 million strategic growth round led by ACME and Blockchange and joined by new investors Omidyar Technology Ventures, Pantera, Multicoin and Variant. The new funds will go toward accelerating the company’s rapid growth.
- Altinity raises $4M: Altinity, an enterprise ClickHouse services provider for analytics and data warehousing, announced a $4 million round of funding to launch its first cloud service, Altinity.Cloud. Accel led the round.
- Builder secures $3.25M for no-code e-commerce tool: Builder, offering a no-code tool to build digital experiences for websites, apps or e-commerce stores using drag-and-drop, raised $3.25 million in a seed round led by Greylock, with participation from the founders and top executives at Allbirds, Caviar, Harry’s, PopSugar and Warby Parker.
- QUIN raises $1.1M: Berlin-based Investment advisory services QUIN, raised $1.1 million in seed funding to provide a non-custodian platform empowering people to invest safely and rationally. The round is led by sino AG, with participation from Runa Capital, APX and angel investors.
- Imperva to acquire jSonar: Cybersecurity company Imperva will acquire database security startup jSonar for an undisclosed sum. Waltham, Massachusetts-based jSonar previously raised $50 million in venture funding.
- Cisco to acquire Portshift: Tech giant Cisco said it intends to acquire Team8 Capital-incubated company, Portshift, a platform that continuously secures cloud-native applications on Kubernetes environments. Israel-based Portshift was launched in November 2018 with $5.3 million in seed funding.
Bullpen Capital launches new fund
Bullpen Capital launched its Bullpen Fund V, a $130 million fund that will do post-seed investing. The firm is an early-stage fund that makes follow-on investments for companies who have recently raised seed. Its fourth fund, which was $140 million was announced in 2018, according to Crunchbase data. In addition to the fund, Ann Lai has joined as its newest general partner.
Illustration: Dom Guzman
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