Briefing

The Briefing: New Raise Values Reddit At $10B, Eruditus Picks Up $650M, 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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Eruditus raises $650M at $3.2B valuation

Higher education platform Eruditus raised $650 million in a new financing round backed by Accel and SoftBank Vision Fund II. The funding reportedly sets a valuation of $3.2 billion for the company. Eruditus works with leading global universities to provide executive-level courses to an online audience.  Focus areas include finance, leadership and management, and data science. Previously, the company had raised at least $163 million in known funding, per Crunchbase data.

— Joanna Glasner

Reddit raises $410M

Online forum Reddit has raised $410 million in funding led by Fidelity Investments that values the company at $10 billion.

The company was most recently valued at about $6 billion. Its latest funding comes as Reddit ponders a public-market debut, though it hasn’t decided when and how it would go public, CEO Steve Huffman told the New York Times.  The funding round will likely increase and close at around $700 million, Huffman said in the interview.

Reddit is backed by investors including Tencent and Y Combinator.

–Sophia Kunthara

E-commerce

• SellerX lands $100M: Berlin-based SellerX, an aggregator of Amazon retailers, raised $100 million in a Series B funding round led by L Catterton. Founded in 2020, the company previously raised over $148 million in known funding, per Crunchbase data.

— Joanna Glasner

Enterprise tech

• Aforza closes $22M Series A: London-based Aforza, which makes cloud and mobile apps for consumer brands, closed a $22 million Series A funding round led by DN Capital, with participation from Bonfire Ventures, Daher Capital and Next47.

Founded in 2019, the company has developed a suite of cloud & mobile apps built for consumer goods companies. It plans to use the new funding to double its employee headcount in the next six months and establish new US headquarters in the Northeast.

• Bitwave raises seed: San Francisco-based Bitwave closed a $7.25M seed investment led by Blockchain Capital, with participation from Nascent, Nima Capital, Arca, XBTO Humla and Rowan Trollope. The company supplies back-office software solutions to enterprises that accept cryptocurrencies and helps them with bookkeeping and other accounting practices.

— Chris Metinko

Illustration: Dom Guzman

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