Startups Venture

The Most Recent Startup Investments Over $250 Million In 2019

2018 was the year supergiant VC deals became a nearly everyday occurrence. Equity funding rounds of $100 million or more dominated the global VC market, accounting for a vanishingly small percent of total deal volume, but accounting for 56 percent of the total dollar volume.

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Here’s the thing about these supergiant VC deals though. The New York Times headline from August 2018 said it simply: $100 million was once big money for a startup. Now, it’s common. In our Q4 and end-of-year analysis of the global VC market, Crunchbase News found that there were over 500 rounds in the “supergiant” size class throughout 2018, worldwide. Although we covered many of them last year, there were just too many to discuss individually.

“Supergiant” stars aren’t the absolute biggest, brightest things in the universe, though they loom larger than just about everything else. Supergiant VC rounds bent the curve of the venture market. But, there’s another size up. Hypergiant stars are many times the size of supergiant stars, and, so, it follows that hypergiant VC rounds would follow a similar pattern.

In a prior exploration of beyond-supergiant VC, Crunchbase News defined “hypergiant rounds” as any VC round of $250 million or more (at least 2.5x larger than the “supergiant” threshold). These are the deals that shine a bright and sometimes harsh light over a given market. And, at this point, there are sufficiently few of them that we can track a whole year’s worth of hypergiant deals.

So, below, you can find an ever-expanding list of hypergiant rounds from 2019, filed in reverse-chronological order based on announcement date. We’ll update this post on a weekly basis. If you’d like to check in on a more real-time basis, take a look at the query we’re using to surface these rounds.

Last updated on February 20, 2019.

February

Shiheng

Shiheng is an online catering management service provider based in Beijing, China.

  • The company raised $300 million in a Series B round announced on February 18. SoftBank (not the Vision Fund) and TPG co-led the deal. CEO Fang ShiHun told DealStreetAsia that “ShiHeng is now valued at more than 1 billion yuan ($150 million), and is the leader of the takeaway/catering industry,” adding that “Our current GMV (gross merchandise value) is over 400 million yuan ($59 million).”
  • The company was founded in 2017.
  • DealStreetAsia reports that Shiheng has “raised three funding rounds in the last 12 months.” The report says that over the course of 2018, Shiheng raised over ¥200 million (approximately $30 million USD) between its Series A and “Series B-1” round. (The round above is being reported as a “Series B-2” deal.) Sequoia Capital China, Gaorong Capital, and Vision Plus Capital invested in those prior rounds.

Nuro

Nuro is a Mountain View, CA-based designer and manufacturer of autonomous delivery robotics.

Reddit

Reddit is a social media and community platform company headquartered in San Francisco, CA.

OakNorth

Based in Manchester, U.K., OakNorth is a commercial bank focused on serving the capital needs of small and medium-sized businesses.

Aurora

Aurora is a Palo Alto-based self-driving vehicle company.

Lime

Lime is an on-demand point-to-point transportation company that offers electric scooters and bicycles for metered rental enabled through its mobile application. The Silicon Valley company is situated in San Mateo, California.

  • Lime raised $310 million in a Series D round announced on February 6, 2018. The company announced it is now valued at $2.4 billion, post-money. Andreessen Horowitz, Bain Capital Ventures, Fidelity Investments, GV, and IVP co-led the round. Existing investors including Alphabet (parent organization to GV) and Singapore’s GIC fund, among others, participated. Additional, new investors joined in in what looks like quite the party round.
  • The company was founded in June 2017.
  • Crunchbase does not have information about Lime’s Series A round, or how much was raised in its seed round, at time of writing. Lime raised $120 million across two separate tranches in its Series B round. The company subsequently raised $335 million in its Series C round, announced in July 2018.
  • Crunchbase News has covered Lime and other scooter companies in the past.

Databricks

Databricks offers big data and analytics software as a service, built on top of Apache Spark. The company is based in San Francisco, California.

January

Clover Health

Clover Health is a Medicare benefits company based in San Francisco, California.

Jusda

Based in Shenzhen, China, Jusda (准时达) is a B2B supply chain management (SCM) company.

BridgeBio

BridgeBio is a clinical-stage biopharmaceutical company focused on treating genetic diseases. It is based in Palo Alto, California.

Zhangmen

Zhangmen is a K-12 personalized online tutoring company based in Shanghai, China.

DaDa

DaDa is a Shanghai-based online education service for English language learners.

Rubrik

Hailing from Palo Alto, Rubrik is a provider of enterprise-focused data backup, management, and recovery services.

Knock

Launched by the founding team members of real estate listing site Trulia, Knock is a “home trade-in” platform for existing homeowners. The company is based in Atlanta, Georgia.

Yimidida

Shanghai-based Yimidada develops logistics management systems.

N26

German fintech company N26 is a provider of mobile banking and international money transfer infrastructure and services.

The We Company

Née “WeWork,” the recently re-christened The We Company is a New York City-based commercial real estate company that offers temporary, shared, and private workspace options to clientele ranging from individuals to corporations.

  • The company raised $1 billion in a Series H round formally announced on January 9th.  SoftBank (not the Vision Fund) invested $2 billion total in the transaction: $1 billion from the de novo equity financing, and an additional $1 billion in equity acquired through a secondary stock sale from prior shareholders. These were the final parts of a transaction that ultimately netted The We Company $6 billion.
  • The company was founded in 2010.
  • Prior to the $6 billion deal (which included debt and warrant issuance was announced in several parts between August 2018 and January 2019), The We Company had raised nearly $6.8 billion in prior equity and debt funding.
  • Crunchbase News covered the deal when it was announced.

Grab

Grab, a ride-hailing platform offering transportation in shared and private car rides, as well as motorbikes, is based in Singapore.

  • The company raised $350 million in the latest tranche of an extended Series H round, formally announced on January 7th. Tokyo Century led the deal.
  • Grab was founded in June of 2012. Prior to the company’s multi-part Series H round (the first part of which closed in June 2018) Grab had raised at least $4.135 billion in VC, PE, and debt financing.
  • Crunchbase News covered Grab’s never-ending Series H round back in December 2018. Between the first tranche from June 2018 and the last (for now?) $350 million raised in January, Grab has raised at least $3 billion in its Series H round.

Illustration: Li-Anne Dias