Venture

The Crunchbase News Briefing: Mon., Oct. 12

The Briefing

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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Twilio to buy Segment for $3.2B in stock

Twilio announced that it is acquiring customer data platform Segment in an all-stock deal valued at $3.2 billion.

Founded in 2011,  San Francisco-based Segment previously raised around $287 million in venture funding, including a $175 million Series D round in 2019.

Twilio, also based in San Francisco, provides application programming interfaces (APIs) for app development. The company went public in 2016 and had a recent market capitalization of around $44 billion.

In a statement, Jeff Lawson, co-founder and CEO of Twilio, praised Segment’s technology for helping developers and companies break down data silos to “build a complete picture of their customer.” Combining the two companies, he said,  will “create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales.”

Funding rounds

  • Flash Express raises $200M:  Thailand’s Flash Express, a 2-year-old logistics startup that works with e-commerce firms in Thailand, said  it has raised $200 million in a new financing round led by  PTT Oil and Retail Business Public Company Limited.
  • India’s Razorpay raises $100M: Indian fintech startup Razorpay, a payment processing provider, raised $100 million in a new financing round  led by Singapore’s GIC  and Sequoia Capital India. The new round pushed the company’s valuation above the $1 billion mark.
  • Snapdocs closes on $60M to scale digital closings: Snapdocs, a San Francisco-based digital mortgage platform, raised $60 million in Series C funding. YC Continuity led and was joined by Sequoia Capital, F-Prime Capital, Founders Fund and DocuSign. The new round gives the company total funding raised of $103 million, according to Crunchbase data.
  • Yotascale secures $13M to manage cloud spend: Yotascale­­, a provider of next-generation cloud cost management software, announced $13 million in Series B funding, bringing its total capital raised to $25 million since its founding 2015. The round was led by Felicis VenturesAydin Senkut, alongside existing investors, Crosslink Capital, Pelion Ventures and Engineering Capital.
  • Edgify raises $6.5M for cloud-based learning infrastructure: London-based Edgify, a company building artificial intelligence training frameworks at the edge, secured $6.5 million in seed funding backed by Octopus Ventures, Mangrove Capital Partners and an unnamed semiconductor company. Edgify’s technology enables any connected device, such as self-checkout machines in a grocery store, to interpret vast amounts of data, train a complete AI model locally and proceed to share that learning across an entire network of similar devices.

M&A

Paladina Health to acquire Healthstat: Direct primary care provider Paladina Health agreed to acquire Charlotte-based Healthstat, a provider of various on-site, near-site and virtual health centers, for an undisclosed amount. The deal will more than triple Paladina’s number of clinics across the U.S., especially in the Southeast region where it did not have a presence, the company said. When the acquisition closes, Denver-based Paladina Health will operate 350 clinics. The company is backed by investors, including New Enterprise Associates and Oak HC/FT, and has raised a total of $165 million in venture-backed funding since its inception in 2010, according to Crunchbase data.

Illustration: Dom Guzman

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