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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Toast sets range for IPO at valuation around $16.5B
Toast, a provider of software for restaurant payments processing and other functions, set a range of $30 to $33 per share for its upcoming initial public offering.
The Boston-based company, which previously raised over $900 million in private funding, is reportedly seeking to raise around $717 million in its NYSE offering at a public valuation of around $16.5 billion.
BitSight hits $2.4B after $250M raise
Founded in 2011, BitSight helps customers understand cyber risk through ratings, analytics and management tools. The company has now raised more than $400 million to date, according to Crunchbase data.
— Chris Metinko
Formo lands $50M for lab-grown cheese
Berlin-based Formo, an agtech startup developing animal-free dairy products using nature-identical milk proteins derived from precision fermentation, announced that is has closed a $50 million Series A funding round led by Elevat3 Capital and Lowercarbon Capital.
Freshworks sets terms for $855M IPO: San Mateo, California-based Freshworks, a provider of cloud-based customer support software, set a price range of $28 to $32 per share for its upcoming IPO. At the midpoint of that range, the company would reportedly have a market value around $9.6 billion and bring in $855 million through the offering.
— Joanna Glasner
Illustration: Dom Guzman
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