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.
Sprinklr raises $200M at $2.7B valuation
Sprinklr, a provider of customer experience management software for enterprises, has raised $200 million in a funding round led by Hellman & Friedman. The financing carried a valuation of $2.7 billion.
New York-based Sprinklr also secured $150 million in convertible securities from Sixth Street, providing the company with a total of $350 million in fresh capital to fuel its growth.
Founded in 2009, Sprinklr had previously raised at least $228 million in fresh funding. The company has also been an active buyer of startups, with at least 10 known acquisitions in the past seven years, per Crunchbase data.
Grand Rounds secures $175M for new virtual care tools
Grand Rounds brings on a new investor as the health care company scales to meet demand for its quality and clinical navigation products.
The Carlyle Group led a $175 million investment in San Francisco-based Grand Rounds, which will be used to further develop clinical navigation and virtual primary care offerings, the company said in a written release. Grand Rounds has raised more than $270 million since its inception in 2011, according to Crunchbase data.
Grand Rounds recently launched new virtual provider offerings including Urgent Response and adding telemedicine to its Premier Navigation tool. It said it now covers 6 million lives across 130 large, self-insured employers, an increase of 55 percent over the past year.
Report: New York health care startup funding reaches new milestone
Despite New York being at the center of COVID-19 for most of 2020, a new report released by NYC Health Business Leaders and AlleyCorp showed that digital health financing for New York-based startups reached all-time highs.
“The State of NYC Digital Health” reported that as of July 31, companies brought in $1.5 billion in funding among 105 deals, surpassing the $1.2 billion raised in 2019 by 25 percent. A quarter of the deals were in digital pharmacy with patient engagement tools not far behind at 22 percent. That was followed by insurance, analytics and provider tools, with social determinants of health and women’s health rounding out the bottom.
Most of the funding came in later stages—Series B and beyond—with some of the biggest funding going to startups including insurtech company Oscar, telehealth company Ro, patient payment and engagement platform Cedar, and digital pharmacy Medly.
The report also revealed that more is coming: It is estimated that startups will be awarded another $2.2 billion before the year is out.
Security startup Snyk snags $200M at $2.6B valuation
Open-source security startup Snyk said Wednesday that it has closed on a new $200 million funding round led by Addition. With the latest round, the company has now raised $450 million and reached a valuation of $2.6 billion.
- Xometry raises $75M equity round: Manufacturing marketplace Xometry said it completed a $75 million equity round, led by funds and accounts advised by T. Rowe Price Associates. Durable Capital Partners and ArrowMark Partners also participated in the round along with seven existing venture and strategic investors. This new funding round brings Gaithersburg, Maryland-based Xometry to $193 million in total funding since its founding in 2013.
- Deel raises $30M to meet remote work demand: Deel, a San Francisco-based payroll and compliance platform for international teams, said it secured $30 million in Series B funding led by Spark Capital. The investment follows a May $14 million Series A round led by Andreessen Horowitz, bringing Deel’s total funding to more than $48 million in two years.
- Pcysys raises $25M to expand internationally: Israel-based cybersecurity validation company, Pcysys, announced a $25 million Series B funding round led by Insight Partners, along with existing investors Awz Ventures and The Blackstone Group. The company, which has developed the PenTera automated penetration testing platform, has raised $40 million to date. The new funding will be used to expand the company’s sales and delivery teams in North America, EMEA and Asia Pacific.
- Optimize.health lands $15.6M: Seattle-based Optimize.health has raised $15.6 million for its remote patient monitoring technology. Founded in 2015, the startup offers software, equipment and services for outpatient medical practices.
- Panther Labs raises $15M: Cybersecurity startup Panther Labs, announced $15 million in Series A funding to accelerate development of its open-source security platform. Lightspeed Venture Partners led the round with participation from S28 Capital, Innovation Endeavors and Fathom Capital. The investment brings the company’s total funding to $20.5 million.
- CredoLab raises $7M for expansion: CredoLab, a developer of bank-grade digital credit scorecards based on smartphone metadata, said it secured $7 million in Series A funding round led by GBG with participation from Walden International and Access VC. The funding will enable CredoLab to consolidate leadership in Southeast Asia and expand market reach in the United States Asia, Latin America and Africa.
- Metadata.io raises $6.5M to scale: Metadata.io, a San Francisco-based autonomous demand generation company focused on B2B marketing, said it raised $6.5 million in its Series A round. Resolute led the series with participation from Greycroft, York IE and Stormbreaker, as well as Mark Organ, Ilya Volodarsky and more than a dozen Metadata customers and key employees.
- Salaryo raises $5.8M for new business banking products: Fintech platform for U.S. freelancers and startups Salaryo, said it raised $5.8 million in funding from Variant Investments, KEN Investments, Techstars Ventures and Michael Ullmann, bringing its total funding to $12 million. Since 2017, the New York-based startup has processed more than $60 million in loan applications and is planning to launch new business banking products in 2021.
Mergers and acquisitions
UNest acquires Littlefund: UNest, a company developing a mobile app that helps parents create tax-free college savings plans, said it acquired Littlefund, a smart gifting and savings app for parents, for an undisclosed amount. The deal helps UNest double its user base to more than 60,000 and add new features, such as enabling extended family and friends to contribute monetary gifts directly to a UNest account. In June, UNest closed on an oversubscribed $9 million Series A round from investors including Northwestern Mutual Future Ventures and Baron Davis.
Dawn Capital raises $400 million to invest in the future of enterprise software: London venture capital firm Dawn Capital announced its largest fund raised to date that will invest exclusively in early-stage European B2B software startups. The firm’s fourth fund will invest in Series A and B rounds in areas such as data and analytics, security, fintech and future of work and will target initial investments in the $5 million to $20 million range. To date, Dawn has invested in 40 startups across 15 European countries.
Amwell Health Sets IPO Price Range: The telehealth company set a price range of between $14 and $16 per share. Amwell Health is set to start trading on the public markets on Thursday, September 17, according to IPO Scoop.
Unity Sets IPO Price Range: Unity Software set a price range of between $34 and $42 per share. If it prices at the top of the range, the company would raise $1.05 billion and be valued at more than $11 billion.
Illustration: Dom Guzman