The Crunchbase News Briefing: Tues., Sept. 1

Illustration of CB reporters working.

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.

Owl Ventures raises $585M for edtech

Owl Ventures, a San Francisco-based VC firm focused on education technology, announced it has closed a pair of funds totaling $585 million.

Owl Ventures IV is a $415 million fund which will be used to invest in edtech startups at Series A and beyond. The firm also launched a $170 million  opportunity fund that will make growth-stage investments in existing portfolio companies.

The fundraising comes as the edtech space remains red-hot in 2020, with roughly $4.1 billion invested in the sector between January and July, per Crunchbase data.

Subscribe to the Crunchbase Daily

Funding rounds:

  • PicnicHealth picks up $35M for medical research and records: PicnicHealth, the San Francisco-based venture-backed startup that enables patients to access their medical records and contribute to scientific research, announced $35 million in equity financing, including a new $25 million Series B led by Felicis Ventures, and a previously-unannounced $10 million Series A led by Amplify Partners in 2018.
  • LunchClub lands $24.2M to make virtual connections: LunchClub, which matches professionals and facilitates virtual meetings, recently raised $24.2 million at a valuation above $100 million in a round led by Coatue and Lightspeed Venture Partners. [Read more: CNBC]
  • InCountry gets $18M for SaaS data storage: InCountry, a startup that helps companies comply with local data regulations when adopting SaaS products, raised $18 million in an extension of its Series A round. The latest funding was led Caffeinated Capital and Abu Dhabi-based Mubadala, with participation from new investor Accenture Ventures and previous investors Arbor Ventures, Felicis Ventures, Ridge Ventures, Bloomberg Beta and Team Builder Ventures. [Read more: TechCrunch]
  • InfoSum raises $15M for data-sharing: InfoSum, a London startup that has built a way for decentralized architecture for organizations to securely share their data with each other, raised $15.1 million in a Series A round led by Upfront Ventures and IA Ventures.
  • Cosmose AI lands $15M to analyze shoppers: Cosmose AI, a startup that analyzes mobile location data to predict and influence how people shop offline, announced it has raised $15 million in a Series A investment round that sets a valuation for the company in excess of $100 million. Tiga Investments, OTB Ventures and TDJ Pitango led the financing.
  • Acerta Analytics closes $7M for automative intelligence: Canada-based automotive intelligence startup Acerta Analytics said it closed on a $7 million round of Series A funding led by OMERS Ventures, with participation from M12, StandUp Ventures, Radical Ventures, EDC and Techstars.
  • Dorian secures $3.25M for interactive fiction: Dorian, a San Francisco-based platform that helps writers turn their fictional stories into interactive visual games, announced it raised $3.25 million in a seed funding led by March Gaming, with participation from VGames, Konvoy Ventures, London Venture Partners, Night Media, Michael Chow and Andover Ventures.
  • Chromologics lands $2.3M for natural food colorants: Chromologics, a Danish startup developing natural food colorants, secured $2.3 M in seed financing led by Novo Seeds and supported by Nordic FoodTech VC and Vækstfonden. If you’re into foodtech, check out today’s story on Climax Foods’s seed round.


Dialpad acquires Highfive

Dialpad, a cloud-based business communications platform, announced it acquired video conferencing company Highfive. Terms of the deal were not disclosed.

This is San Francisco-based Dialpad’s second acquisition since acquiring TalkIQ in 2018. The company, founded in 2011, has raised a total of $120 million in venture-backed funding from investors including ICONIQ Capital, Amasia, Andreessen Horowitz and GV, according to Crunchbase data. Redwood City, California-based Highfive was founded in 2012 and has raised $77.4 million in venture-backed funding to date from a group of investors including Dimension Data, Lightspeed Venture Partners and General Catalyst.

In discussing the deal, Zeus Kerravala, principal analyst at ZK Research, said in a written statement that the acquisition “makes perfect sense as businesses will have people working remotely for years to come.”

“Highfive gives Dialpad a cloud-native, open video platform that brings together desktop conferencing with smart meeting room connectivity, as well as video interoperability with other SIP-enabled video platforms,” he added.

Gong acquires Vayo

Revenue intelligence startup Gong announced on Tuesday that it bought Vayo, a company that focuses on data analytics for sales teams. The news of the acquisition comes a couple weeks after Gong raised a $200 million Series D, making it a unicorn with a $2.2 billion valuation.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link