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| Bitpanda rides the bitcoin wave to unicorn status | |  | | Bitpanda founders Christian Trummer, Paul Klanschek and Eric Demuth (Courtesy of Bitpanda) | | | Bitpanda has hit a $1.2 billion valuation with its latest round, as mainstream investors increasingly open up to cryptocurrency startups and bitcoin climbs to record heights. - Led by Valar Ventures, the $170 million Series B makes Vienna-based Bitpanda, which operates a cryptocurrency trading platform, the first Austrian unicorn.
- The investment is also the latest example of a funding surge for cryptocurrency startups, which have raised over $1.8 billion so far this year—more than half of 2020's total.
| | | | | | | | | | How the risks and rewards stack up in the future of IoT | | The internet of things is developing into a mature industry with attractive opportunities, driven by the spread of mobile devices, powerful analytical tools and the ever-increasing speed of connectivity. But the future is both bright and uncertain, as the space presents a complex risk-reward scenario for investors.
Many IoT technologies are past the peak of the hype cycle without substantial success for startups, yet other emerging developments have the potential to power high-growth use cases, according to our latest Emerging Tech Research. Key takeaways include: - The IoT space hit $14 billion in total VC exit value in 2020, more than three times the previous annual high.
- Funding increased sharply in connectivity devices, energy and utilities, and connected commercial real estate, with each segment more than doubling its total deal value year-over-year.
- IoT security is emerging as an outstanding opportunity, and its market is forecast to grow at a 16% CAGR over the next four years.
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| What does 2021 hold in store for the expansion-stage ecosystem? | | Private financial markets enter the 2020s with the existence of a brand-new ecosystem of large privately held businesses that hardly existed a decade ago. The Deloitte Road to Next series has mapped the key traits of these expansion-stage companies, outlining key hurdles they face as well as the actions they are taking to achieve commanding market share in their particular niches. In the latest edition, Deloitte industry leaders explore PitchBook datasets to analyze topics such as: - The implications of the SPAC boom
- What the stresses of 2020 meant for funding levels
- Whether valuations are entering bubble territory
Read it now | | | | | | | |
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| Cannabis startup Dutchie's valuation soars to $1.7B | |  | | (Heath Korvola/Getty Images) | | | Dutchie has raised $200 million in a round led by Dragoneer Investment Group that valued it at $1.7 billion. - The round made Dutchie one of the most valuable cannabis startups in the world, according to PitchBook data.
- The company operates a platform for ordering marijuana online from local dispensaries. As with ecommerce and food delivery apps, its growth has accelerated during the pandemic.
- VC funding for pot startups fell last year, but tailwinds are evident. Several US states reported record cannabis sales last year, and others have approved a fresh wave of legalization.
| | | | | | | | | | As Amazon tries to fend off one unionization drive in Alabama, a previously untold story about how the company shut down a similar effort in Virginia in 2016. [The New York Times]
Cybersurveillance tools have turned into one of Israel's most lucrative exports. Not everyone in the country thinks it's a good thing. [Rest of World]
Many aspects of life in the pandemic will perhaps soon begin to fade away. Will learning pods be here to stay? [The New Yorker] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 493 Deals | 2056 People | 610 Companies | 17 Funds | | | | | | |
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| 2016 Vintage Global PE Funds | | | | | | |
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| Healthcare network operator raises $150M | | | | | | | | | CapitalG leads Series B for kidney care provider | | | Kidney care provider Strive Health has landed a $140 million financing round. Alphabet's independent growth fund, CapitalG, led the funding, with participation from investors such as Redpoint, NEA and Town Hall Ventures. The new capital brings Denver-based Strive's total funding to $223.5 million. | | | | | | | | Clarify collects $115M Series C to fund healthcare analytics platform | | | Clarify Health, the developer of an enterprise analytics platform for the healthcare industry, has raised a $115 million Series C led by Insight Partners, Spark Capital, Concord Health Partners and HWVP. KKR, the startup's largest investor, was among the round's other backers. Clarify was valued at $182 million with a $25 million financing in 2019, according to PitchBook data. The San Francisco-based startup's data platform is used by healthcare providers, health plans and life sciences companies. | | | | | | | | Socure secures $100M at $1.3B valuation | | | Identity verification startup Socure has secured a $100 million Series D led by Accel. Citi Ventures, Wells Fargo Strategic Capital and Synchrony were among the other backers participating in the round. The financing brings Socure's total funding to $196 million, and comes a few months after a $35 million investment that valued it at $375 million, according to PitchBook data. The new round values the company at $1.3 billion, Bloomberg and TechCrunch reported. | | | | | | | | SafeGraph lines up $45M Series B | | | Sapphire Ventures has led a $45 million round for SafeGraph, which uses machine learning to manage geospatial data on the US and Canada. The company was founded in 2016 and raised a $16 million Series A in 2017. | | | | | | | | | | | | | | | | Stor.ai has raised $21 million in a Series A extension round co-led by Meitav Dash and Mizrahi Tefahot, with participation from Kli Capital. The Israeli company is the developer of a grocery delivery platform; it plans to use the funding in part to expand across North America, Latin America and Europe. | | | | | |
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| Accel-KKR takes majority stake in Kimble Applications | | | Kimble Applications has received a significant growth investment from Accel-KKR, which has backed the company since 2018. Based in London, Kimble is a provider of cloud-based professional services automation solutions that help organizations optimize resource utilization, profitability and business scalability. Accel-KKR is now the company's majority backer with the new funding. | | | | | | | | Peloton Capital purchases Glass Lewis in SBO | | | | | | | | | TA Associates devotes $100M to PE-backed Appfire | | | TA Associates has made a $100 million growth investment in Appfire, a Burlington, Mass.-based provider of apps that specialize in workflow automation, business intelligence, publishing and administrative tools. The news comes after Silversmith Capital Partners invested $49 million in Appfire last year. As part of the latest deal, TA principal Michael Libert and TA managing director Hythem El-Nazer will join the company's board of directors. | | | | | | | | | | | | | | | Clearlake takes strategic stake in RSA | | | | | | |
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| Chinese dating app maker seeks IPO in US | | | Soul, a Chinese dating app provider, is reportedly in talks with bankers about a deal to go public in the US at a valuation of $1 billion or more. The Information reported that Soul seeks to raise around $200 million in its IPO. Soul has previously raised $60 million from investors including DST Global, Genesis Capital and 5Y Capital (formerly Morningside Venture Capital), according to PitchBook data. | | | | | | | | | SEMrush, the provider of a SaaS platform for content marketers, has established plans to offer 16.8 million shares for $14 to $16 apiece on the NYSE. At the midpoint of the price range, the Boston-based company would raise $252 million and have a fully diluted market value of $2.2 billion, Renaissance Capital reported. SEMrush has received prior financing from investors including Greycroft and Siguler Guff. | | | | | |
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| 1984 Ventures eyes $60M fund | | | Early stage-focused VC investor 1984 Ventures is raising its second vehicle with a target of $60 million, according to a regulatory filing. The San Francisco-based firm closed its $42.3 million debut fund in 2018. | | | | | |
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"PE IT deal activity hit record proportions on both a value and volume basis in 2020, making up 21.7% and 25.9%, respectively, of overall European PE deal flow. The IT sector has been the number-one source of interest for PE managers over the past five years and will likely remain so for the next decade."
Source: PitchBook's 2020 Annual European PE Breakdown | | | | | |
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