Briefing

The Briefing: Accel Closes On $3B, JFrog Acquires Vdoo, 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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Accel closes on $3B for new venture and growth funds

Storied venture capital firm Accel closed on $3 billion in commitments for across three new funds: a US early-stage fund of $650 million, an early-stage fund for Europe and Israel of $650 million, and a growth fund of $1.75 billion.

The fundraise follows a period of active investment for the firm, which is based in Palo Alto but invests internationally. The firm has made over 1,600 investments, per Crunchbase data, including 100 known deals so far this year.

The firm has a long history of making early bets on companies that have grown into dominant players in their industries, from Facebook to UiPath to Slack.

— Joanna Glasner

M&A

JFrog acquires Vdoo: DevOps platform developer JFrog announced that it is acquiring Vdoo, an integrated security provider for connected devices, in a cash-and-stock deal valued at $300 million.  Israel-based Vdoo previously raised $70 million in known funding, per Crunchbase data.

Proptech

WeMaintain lands $36M: Paris-based WeMaintain, a tech-enabled elevator and building maintenance company, raised  €30 million (US$36 million) in a Series B round backed by multiple new and existing investors.

— Joanna Glasner

GovTech

Zencity closes $30 round from M12 and Salesforce: Israel-based Zencity locked up a new $30 million round to help deliver community feedback to governments. The new funding comes from existing investors TLV Partners, Vertex Ventures Israel, Salesforce Ventures, M12Microsoft’s venture fund — and Canaan Partners Israel.

The company — which gathers community insights from various data points and polling, and delivers them to local and state governments — has now raised a total of $51 million. The company works with more than 200 government agencies across the United States.

— Chris Metinko

 

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