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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Informatica raises $841M in IPO
Shares of enterprise cloud data management platform Informatica flatlined in their first day of trading in the New York Stock Exchange, closing just below their IPO price of $29. The Redwood City, California-based company raised $841 million in the NYSE debut after pricing shares at the low end of the proposed range, and trades under the symbol INFA. The offer price set an initial valuation of around $8.3 billion.
The IPO marks a return to the public markets for Informatica, which was bought out by private equity firm Permira and the Canadian Pension Plan Investment Board in 2015 in a deal valued at $5.3 billion.
— Joanna Glasner
ClickUp secures $400M
San Diego-based productivity platform ClickUp raised a $400 million Series C co-led by Andreessen Horowitz and Tiger Global. The new round gives the company a valuation of $4 billion. Founded in 2017, ClickUp has now raised nearly $540 million to date, according to Crunchbase data.
— Chris Metinko
InCloudCounsel raises $200M, changes name
San Francisco-based contract automation company InCloudCounsel closed a $200 million Series B led by funds managed by Blackstone. In addition to the financing, the company has rebranded itself to Ontra. Founded in 2014, the company has now raised $240 million, according to Crunchbase data.
— Chris Metinko
Gluware secures $43M
Sacramento-based Gluware, provider of intelligent network automation technology for enterprises, raised $43 million in a growth funding round led by Bain Capital. The funding will go toward scaling the company’s sales and marketing functions and building up its core product offerings.
— Joanna Glasner
Autonomous vehicles
Tactile Mobility lands $27M: Israel-based Tactile Mobility, a developer of tactile data and virtual sensing technology, announced it has raised $27 million as part of a Series C funding round led by Delek Motors. The startup says it wants to enable the next phase of mobility development by leveraging existing vehicle sensors and artificial intelligence to equip vehicles with the missing sense of “touch.”
— Joanna Glasner
Venture Capital
OurCrowd raises $25M: Jerusalem-based venture investment platform OurCrowd closed a $25 million convertible equity investment form SoftBank Vision Fund 2. The company has 140,000 accredited investors on its platform and has grown new registered subscribers from 25,000 in 2020 to 75,000 in this year. OurCrowd expects new investments made on the platform will surpass $500 million in 2021.
— Chris Metinko
Illustration: Dom Guzman
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