Briefing

The Briefing: NerdWallet Prices IPO, Papa Picks Up $150M At Unicorn Valuation, 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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NerdWallet prices IPO

San Francisco-based NerdWallet, provider of an online platform providing personal finance tips and financial product offerings, raised $131 million in its IPO after pricing shares at $18 each, the midpoint of the proposed range.

The company posted revenue of $182 million and a net loss of $27 million in the first half of  2021, amid significantly scaled-up spending on sales and marketing. That compares to revenue of $137 million in the year-ago period and net income of $3 million.

NerdWallet plans to list on the Nasdaq under the symbol NRDS.

— Joanna Glasner

Papa picks up $150M for elder support and companionship

Papa, which operates a platform to connect older adults with people to provide companionship and assistance with chores and other tasks, has raised $150 million in a Series D funding round that values the Miami-based startup at $1.4 billion.

SoftBank Vision Fund 2 led the latest round, which brings Papa’s funding to date to $240 million. TCG, Tiger Global Management, Canaan, Initialized Capital and Seven Seven Six participated.

Papa is one of a growing number of venture-funded startups that serve aging adults. All told, venture backers invested more than $2.5 billion into eldercare and home health startups in the past five calendar years, per Crunchbase data.

— Marlize van Romburgh

Fountain raises $85M Series C

San Francisco-based applicant tracking system Fountain closed an $85 million Series C led by SoftBank Vision Fund 2, with participation from B Capital Group and Mirae Asset Venture Investment, and existing investors DCM, Origin Ventures, Commerce Ventures, SemperVirens Venture Capital and Uncork Capital.

The company’s platform helps high-volume hirers find and hire employees more quickly. The investment comes after the HR tech sector has seen a surge in investing.

Founded in 2014, Fountain has now raised $119 million to date.

— Chris Metinko

Sportstech

• Kitman Labs closes on $52M: Kitman Labs, a sports technology and analytics company, announced it has closed a $52 million Series C round, led by Guggenheim Investments. The latest round brings Kitman Labs’ total funding received to $82 million.

Media and entertainment

• Groover picks up $7M: Paris-based Groover, a platform for musicians to promote and get feedback for their work, raised $7 million in a new funding round led by Partech and Bpifrance.

New funds

Mission BioCapital said it has raised a new $275 million Fund V to invest in early-stage life sciences startups. The new fund is more than double the size of its previous fund, the firm noted. Already, it has invested in seven companies from the new fund, including ARase Therapeutics, Arclight Therapeutics LLC, Jupiter Bioventures and Telo Therapeutics.

— Marlize van Romburgh

Illustration: Dom Guzman

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