Briefing

The Briefing: CRED Picks Up $251M, Delivery Hero Backs Gorillas, 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.

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Indian fintech CRED raises $251M

Bangalore-based CRED, provider of a rewards platform for credit card users, raised $251 million in a Series E funding round led by Falcon Edge Capital and Tiger Global Management.

The financing reportedly sets a valuation of around $4 billion for the 3-year-old company, which ties rewards to timely credit card bill payment.

— Joanna Glasner

Delivery Hero invests $235M in Gorillas

Food delivery provider Delivery Hero is reportedly investing $235 million in Berlin-based online grocery startup Gorillas, as part of a $1 billion funding round. Founded in 2020, Gorillas offers to ship groceries to customers’ doors in as little as 10 minutes.

— Joanna Glasner

Cato Networks close new round at $2.5B valuation

Israel-based cybersecurity provider Cato Networks closed a new $200 million round led by Lightspeed Venture Partners at a $2.5 billion valuation. The company provides a Secure Access Service Edge (SASE) platform, which delivers networking and security from the cloud to a company’s network edge, avoiding potential bottlenecks in the datacenter. As companies move more to the cloud and toward edge computing, such security is seen as more vital.

Founded in 2015, the company has now raised more than $530 million to date in funding, according to Crunchbase data.

— Chris Metinko

Aiven hits $2B valuation

Finland-based Aiven closed a $60 million Series C extension at a $2 billion valuation. The extension brings the Series C to a total of $160 million and the company’s total funding to $210 million. The round was co-led by existing investors World Innovation Lab and IVP.

Founded in 2016, the company builds software that helps companies manage data on the cloud. In a release, Aiven said it has 230 employees and is growing its revenue more than 100 percent year to year.

— Chris Metinko

JumpCloud closes out $225M Series F

Louisville, Colorado-based JumpCloud announced it has now raised a total of $225 million in its Series F—a month after announcing it had raised $159 million of that round. The Series F round was led by Sapphire Ventures.

The additional $66 million in funding brings total capital raised by the company to more than $400 million and the company’s valuation to $2.63 billion. Founded in 2012, JumpCloud is an open-directory platform that allows for secure access from any device to any resource.

— Chris Metinko

Wonolo raises $138M

San Francisco-based Wonolo, an online temporary staffing platform, closed a $138 million growth round led by Leeds Illuminate, with participation from 137 Ventures, G2 Venture Partners and Franklin Templeton. Founded in 2014, the company has now raised more than $200 million.

— Chris Metinko

GO lands $41M

Car subscription startup GO raised $41 million in a new round of funding led by Synterra Capital Management, the company announced Tuesday. GO, which is based in Philadelphia, lets customers order a vehicle online without making a down payment, and customers can save up to 25 percent per month on their car payment, according to the company. GO is best suited for customers who want to keep their vehicle for up to three years, per the company, and it’s service is currently available in Florida, Pennsylvania, Delaware and New Jersey. The company plans to use the funding to grow its vehicle fleet and expand its services nationally.

–Sophia Kunthara

Fintech

Brazil’s Pismo banks $108M: São Paulo-based Pismo, provider of a cloud-based banking and payments platform, raised $108 million in a Series B round led by SoftBank Latin America Fund, Amazon and Accel.

— Joanna Glasner

Illustration: Dom Guzman

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