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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Heyday unveils platform, $175M Series A
Heyday emerged Wednesday as a new player in the digital marketplace space, unveiling its platform to accelerate consumer products brands. The San Francisco-based company, started in August by Sebastian Rymarz and Adam Gerchen, is getting a big head start with $175 million in Series A funding.
The financing comes from General Catalyst, Khosla Ventures and Arbor Ventures, with participation from Amazon, eBay, PayPal and Magento executives. Heyday partners with entrepreneurs to acquire, launch and incubate brands, and is developing a marketplace-native technology, data and operations stack.
Since August, the company has acquired and launched several brands. It expects to end the year with more than $20 million of annualized revenue and then jump to $200 million of annualized revenue by the end of 2021.
- Addepar inks $117M for wealth management platform: Addepar, a Mountain View-based technology platform for wealth management, announced a $117 million Series E funding round led by WestCap Group. Other investors include 8VC1 and Sway Ventures, bringing Addepar’s total funding to date to approximately $325 million.
- Umoja lands $53M to discover new immunotherapies: Biopharmaceutical company Umoja Biopharma, closed on a $53 million Series A round led by MPM Capital and Qiming Venture Partners USA. The Seattle-based company is focused on developing treatments using a patient’s own immune cells to kill cancerous cells.
- K Health raises $42M, partners with Mayo Clinic: K Health, a New York-based company developing a data-driven digital primary care system, announced $42 million in Series D funding, led by Valor Equity Partners. Additional investors include Marcy Venture Partners, Atreides Management, PICO Venture Partners as well as existing investors 14W and Max Ventures. Additionally, K Health is collaborating with Mayo Clinic to focus on improving and accelerating the deployment of virtual care models.
- CloudBolt secures $35M Series B: CloudBolt, a North Bethesda, Maryland-based cloud management platform developer, raised a $35 million Series B of equity and venture debt led by Insight Partners. The venture debt was issued by Hercules Capital and Bridge Bank. CloudBolt says it has doubled the size of its customer base in the last 12 months.
- Farmstead raises $7.9M for online grocers: Farmstead, a San Francisco-based online grocer, announced a $7.9M Series A round of funding to accelerate its national expansion and recruiting. This brings Farmstead’s total funding to date to $14.5 million. The oversubscribed Series A was led by Aidenlair Capital with participation from Y Combinator, Gelt VC, Duro, Maple VC, Heron Rock, 19 York and Red Dog Capital.
- Outcomes4Me snags $4.7M for cancer care app: Outcomes4Me, a Cambridge, Massachusetts-based developer of a free mobile app and platform offering breast cancer patients a personalized, evidence-based care journey experience, raised $4.7 million in funding, led by Asset Management Ventures with participation from Sierra Ventures, Merstal Ltd. and others.
- WattBuy sparks energy innovation with $3.25M: Online electricity marketplace WattBuy, based in New York, announced a $3.25 million Series A to enable consumers to browse electricity plans in their area in order to make better decisions. Evergy Ventures led the round and was joined by Updater, Avesta Fund, Yoav Lurie, John Sherman and Bill Gatreaux, as well as existing investors Fort Ventures, Techstars Ventures and Powerhouse Ventures.
- Grouparoo raises $3M to simplify SaaS integrations: Grouparoo, a San Francisco startup co-founded by TaskRabbit technical founder Brian Leonard, raised $3 million in seed funding to make SaaS integrations easier for engineering. The round was led by Eniac Ventures and Fuel Capital.
- KisanHub brings in $1.3M for agriculture supply chain: U.K.-based agritech company KisanHub raised $1.3 million for its seed-to-sale connectivity platform aimed at accelerating the digital transformation of the agriculture industry. Low Carbon Innovation Fund 2 led the round with backing from the Future Fund, as well as existing investors, including IQ Capital, Notion Capital and Sistema VC.
- Abnormal Security snags $50 million Series B: Abnormal Security, a San Francisco-based cybersecurity company, landed a $50 million Series B led by Menlo Ventures with participation from existing investor Greylock. Abnormal has tripled its annual recurring revenue through this year and has now raised $75 million to date.
- EV startup Arrival to go public via SPAC: U.K.-based Arrival, a developer of electric vehicles, is planning to go public via a merger with a blank-check special purpose acquisition company (SPAC). The company, which is eyeing a Nasdaq listing, previously raised nearly $230 million in known venture and strategic funding.
Google Pay to add banking features in 2021: In a blog post Wednesday, Google unveiled plans for a new kind of digital bank account. Starting in 2021, 11 banks and credit unions will offer Plex Accounts in Google Pay. Plex features will include checking and savings accounts with no monthly fees, overdraft charges or minimum balance requirements, as well as provide support in saving toward goals.
Illustration: Dom Guzman