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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Robinhood seeks valuation of up to $35B in upcoming IPO
Stock and crypto trading platform Robinhood is seeking a valuation of up to $35 billion for its upcoming public offering, according to a report citing its amended IPO prospectus filing.
The filing sets a price range of $38 to $42 per share for the offering, which would raise up to $2.54 billion for the Menlo Park, California-headquartered company.
The commission-free trading platform said it brought in $959 million in revenue in 2020, up 245 percent year over year. The company also turned a profit in 2020, generating $7 million in net income after incurring $107 million in net losses in 2019.
— Joanna Glasner
Zoom buying Five9 for $14.9B
Zoom announced that it is acquiring Five9, a provider of cloud-based contact center software, in an all-stock deal valued at around $14.7 billion.
San Jose-based Zoom said the acquisition is expected to help enhance its presence with enterprise customers and accelerate its growth opportunity by adding the $24 billion contact center market to its focus areas. Founded in 2001, San Ramon, California-based Five9 raised its last known venture funding round in 2013, with total VC funding of around $114 million, per Crunchbase data.
— Joanna Glasner
Health tech
• Frontier Medicines finds $88.5M for precision medicine: Frontier Medicines Corp. a South San Francisco-based a precision medicine company, said it has raised an $88.5 million Series B funding. The deal was co-led by Woodline Partners and RA Capital Management, with equal participation by Deerfield Management Company. Other new investors in the round included Deep Track Capital, ArrowMark Partners, Driehaus Capital Management and Sphera Healthcare alongside existing investors DCVC, Droia Ventures and MPM Capital. Frontier Medicine says it seeks “to unlock the proteome to advance breakthroughs against otherwise undruggable disease-causing targets.”
•Omniscient Neurotechnology raises Series B for brain mapping: Omniscient Neurotechnology, a brain mapping technology company, said it has closed an AUD $40 million (~$29.4 million USD) Series B funding. The funding for the Sydney, Australia-based company was led by family offices and high-net worth individuals, including Hancock Prospecting Executive Chairman Gina Rinehart and fund manager Will Vicars. Omniscient said its technology could be used by doctors, psychologists, neuroscientists and others in the brain health space to better treat neurological disorders and mental illnesses.
Ed-tech
Go1 raises $200M: Australia-based Go1, a provider of learning tools for enterprises, raised $200 million in a Series D round led by SoftBank Vision Fund 2, AirTree Ventures and Salesforce Ventures1. The latest round reportedly sets a valuation for the company of over $1 billion.
— Joanna Glasner
Illustration: Dom Guzman
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