Briefing

The Briefing: Nextdoor Going Public Via SPAC, ManoMano Raises $355M, 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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NextDoor To Go Public Via SPAC

Nextdoor, the social network known for connecting neighbors, said Tuesday that it planned to go public through a special purpose acquisition company formed by Khosla Ventures. The deal, which is valued at $4.3 billion, follows another Khosla Ventures-backed SPAC merger. Khosla Ventures Acquisition Co. said last month that it would be merging with Valo Health to bring the latter company public.

–Sophia Kunthara

ManoMano raises $355M for home improvements

Paris-based ManoMano, an online marketplace for home improvement, DIY and gardening products, raised $355 million in a Series F round led by Dragoneer Investment Group.

Founded in 2013, the company previously raised $350 million in known funding, per Crunchbase data. ManoMano says its marketplace currently lists more than 4 million products across 6 countries : France, Belgium, Italy, Spain, Germany and the United Kingdom.

Denmark’s Pleo lands $150M for company cards

Copenhagen-based Pleo, a provider of payment cards for companies and employees, raised $150 million in a funding round led by Bain Capital Ventures and Thrive Capital.

The financing sets a valuation of $1.7 billion for the 6-year-old company, which markets its “smart company cards” as a way to automate expense reports and simplify spending. Currently, the company operates in several European countries, with plans to use the funding to boost usage.

Transportation

Didi shares plummet: Shares of Chinese ride-hailing giant Didi Chuxing fell sharply after China announced that new users in the country would not be able to download the app while it conducts a cybersecurity review of the company. Shares were down around 20 percent in pre-market trading Tuesday, less than one week after the company carried out its massive NYSE IPO.

— Joanna Glasner

Real Estate

Blend Aims To Raise $360M Through IPO: Mortgage lending digital platform Blend said in a filing Tuesday that it intends to price its shares between $16 and $18 for its upcoming IPO. At that range, the company would raised up to $360 million through the offering, giving Blend Labs a valuation of almost $4 billion. The company, which filed a confidential S-1 with the SEC in April, is backed by investors including Coatue and Tiger Global Management.

–Sophia Kunthara

Cybersecurity

Deep Instinct secures $67M: New York-based cybersecurity firm Deep Instinct received an additional $67 million as part of its recently announced Series D from Chrysalis Investments. In April, the company announced it had received $100 million led by Blackrock, with participation from Untitled Investments, The Tudor Group, Millennium, Unbound and Coatue Management.

The new equity investment brings Deep Instinct’s total funding to $240 million, Chrysalis said.

Deep Instinct uses deep learning to offset potential “zero-day” attacks — similar to the Kaseya ransomware attack that came to light this weekend. The company’s platform focuses on prediction and threat prevention.

— Chris Metinko

Illustration: Dom Guzman

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