Briefing Venture

The Briefing: Ola Picks Up $500M, Netskope’s $7.5B 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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Ola picks up $500M

India-based ride-hailing platform Ola raised $500 million in a fresh funding round led by Temasek and an affiliate of Warburg Pincus. The last time Ola raised significant funding was its Series J round in 2019.

Ola did not provide updates about a potential public offering alongside the funding, but the company is believed to be making plans for an IPO. Ola was hit hard during the pandemic, however, as lockdowns left people at home, and the company carried out sharp cuts to its workforce.

Netskope hits $7.5B valuation

Santa Clara, California-based cybersecurity company Netskope closed a $300 million investment round led by existing investor ICONIQ Growth — lifting its valuation to $7.5 billion. All other major existing investors also participated, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital.

The company has now raised more than $1 billion in funding, according to Crunchbase data. It last raised a $340 million round in February of last year. Overall, cybersecurity funding has been on a tear so far this year.

Netskope is a provider of secure access service edge security — which delivers networking and security from the cloud to a company’s network edge, eliminating potential bottlenecks in the datacenter. That market — which includes large firms like Zscaler and Palo Alto Network — has been pegged by experts as one likely to see a lot of interest from investors and strategics as more companies move to the cloud and undergo their digital transformation.

— Chris Metinko

Enterprise

Didomi lands $40M for consent tools: Paris-based Didomi, a user consent and preference management platform for online businesses, raised $40 million in a Series B funding round led by Elephant and Breega.

E-commerce

Korean grocer Kurly raises $200M: South Korea-based Kurly, a provider of online grocery ordering and delivery, raised $200 million in a Series F round led by Aspex Management, DST Global, Sequoia Capital China and Hillhouse Capital. The financing reportedly sets a valuation of $2.2 billion for the company.

— Joanna Glasner

Illustration: Dom Guzman

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