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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Self-driving truck startup Embark going public via SPAC
Embark, an autonomous vehicle software-as-a-service company focused on the U.S. trucking market, is the latest venture-backed transportation company to announce plans to go public through a merger with a special purpose acquisition company (SPAC).
The San Francisco-based company announced that it plans to go public through a merger with a SPAC called Northern Genesis Acquisition Corp. II. The transaction reflects an implied pro forma equity value of $5.16 billion and enterprise value of $4.55 billion.
Founded in 2015, Embark previously raised $117 million in known funding, per Crunchbase data, from backers including Tiger Global Management and Sequoia Capital.
— Joanna Glasner
Enterprise
Aircall raises $120M: Paris-based Aircall, a provider of cloud-based call center software, raised $120 million in a Series D round led by Goldman Sachs Asset Management and joined by multiple existing investors. The latest financing pushes the company past the $1 billion valuation mark and brings total funding to date to around $226 million.
Vercel pulls in $102M: Vercel, a provider of tools for companies to develop, preview, and ship web apps, has raised $102 million in a series C funding round led by Bedrock Capital. The financing reportedly values the San Francisco-headquartered company at over $1 billion.
— Joanna Glasner
Incorta locks in $120 million Series D: San Mateo, California-based Incorta closed a $120 million Series D led by Prysm Capital, with participation from existing investors GV, Kleiner Perkins, M12, Sorenson Capital, Telstra Ventures and Ron Wohl. The round also comes with a credit facility from Silicon Valley Bank and an investment from strategic partner National Grid Ventures.
Since being founded in 2014, the data and analytics platform developer has raised a total of $195 million.
— Chris Metinko
Security
Drata closes on $25M: San Diego, California-based Drata, an automated security and compliance platform, raised a $25 million Series A funding led by GGV Capital. The company was founded in 2020 with the intent to “help customers automate compliance and build trust,” said Adam Markowitz, CEO and co-founder who confirmed that they onboarded their 100th customer 60 days after launch with an expectation of growing 100 percent month-over-month.
— Gené Teare
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