Briefing

The Briefing: Poly Network Loses $600M In Hack, People.ai Hits $1.1B Valuation, And More

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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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Hackers nab $600M from DeFi platform Poly Network

Poly Network, a decentralized finance platform, had $600 million worth of cryptocurrency stolen, in a hack the company reported in a Twitter post.

In a strange turn of events Wednesday, CNBC reports, the hackers began returning some of the stolen funds. They reportedly sent a message to Poly Network embedded in a cryptocurrency transaction saying they were “ready to return” the funds.

— Joanna Glasner

People.ai hits $1.1B valuation

Redwood City, California-based People.ai raised a $100 million Series D funding co-led by Mike Dinsdale of Akkadian Ventures and Abdulla AlBanna of Mubadala Capital. The round, which gives the company a post-money valuation of $1.1 billion, also included participation from existing investors including ICONIQ Capital and Lightspeed Venture Partners.

People.ai helps generate insights to make revenue teams more productive. Founded in 2016, the company has raised more than $200 million to date, according to Crunchbase data.

— Chris Metinko

Transporation tech

Los Angeles-based HopSkipDrive, a rideshare platform focused on shuttling kids to school, reportedly raised $25 million in a Series C funding round.

— Joanna Glasner

Fintech

• Afilio raises $13M for estate planning: Berlin-based Afilio, provider of a centralized location for families to create and consolidate personal estate management, legal, financial and retirement/end-of-life planning, raised $13 million. CommerzVentures led the financing for the 4-year-old company.

— Joanna Glasner

 

Illustration: Dom Guzman

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