Left Lane announced the close of its second fund with $1.4B in capital commitments. The fund will back early-stage internet and consumer technology companies. The New York- and London-based VC firm initially targeted a $1B close for its fund. More: - Per TechCrunch, it may lead investments ranging from $5M to $75M in high-growth startups.
- For its first fund, it raised $630M in capital against an initial expectation of $500M.
- Since its founding in 2019, the firm’s portfolio has grown to over 36 companies across fintech, edtech, software, foodtech, e-commerce, health and wellness, gaming, and entertainment sectors.
- The firm has typically invested from Series A to Series C stages.
- Notable unicorn investments include video tutoring platform GoStudent, investment and advisory platform M1 Finance, and e-commerce platform for businesses Wayflyer.
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Clean code platform SonarSource secured $412M in financing at a $4.7B valuation. Advent International and General Catalyst co-led the financing round with participation from Permira and Insight Partners. The firm’s products assist developers to iron out any bugs or security vulnerabilities while building their code, helping them develop software at pace and with inbuilt security features. More: - The company had last secured $45M from Insight Partners in 2016.
- Co-founder and CEO Olivier Gaudin is confident of revenues topping the $1B mark, buoyed by a 2,000% growth in the commercial consumer base in the last four years.
- Current annual recurring revenue is $175M, with revenues forecasted to reach $240M this year.
- It currently caters to over 16,000 organizations.
- Their platform is reportedly used by over five million developers worldwide.
- SonarSource intends to use the proceeds to back its sales and marketing efforts, grow its team to over 400, and set up new regional headquarters in Singapore.
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Harness raised $230M in a Series D financing round consisting of $175M in equity and $55M in debt financing. The company leverages AI to simplify DevOps processes. Norwest Venture Partners led the financing round, which valued the company at $3.7B. The company has raised $370M in funding to date, with the last fundraise being an $85M Series C at a $1.7B valuation raised last year. More: - GV, Service Now, Menlo Ventures, IVP, Capital One Ventures, Gaingels, Citi Ventures, Battery Ventures, and others participated in the financing.
- It acquired open-source integration startup Drone.io in 2020 and chaos engineering firm ChaosNative last month.
- It reported doubling its annual revenue rate and tripling its workforce to 700 since last year.
- CEO Jyoti Bansal’s previous venture AppDynamics was acquired by Cisco for $3.7B in 2017.
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IoT sensing, automation, and software solution provider Kinexon received $130M in Series A funding led by Thomas H. Lee Partners. The company’s platform is used across the manufacturing, logistics, and sports industries. Incoming funds will help accelerate product development and expand its presence across North America and Europe. More: - Kinexon secured $18M in seed and debt financing to date, with European Investment Bank providing the debt financing in late 2020, per Crunchbase.
- Airbus, Siemens, BMW, and Continental are among their clients, leveraging Kinexon’s technology to automate manufacturing and increase the efficiency of their logistic processes.
- BMW i Ventures and Telekom Innovation Pool (TIP) backed the funding round.
- Their sports industry products help track players' performance and conditioning and devise strategies in real-time.
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Sales pipeline generation platform Qualified secured $95M in funding. The Series C financing round was led by Sapphire with participation from Tiger Global, Norwest Venture Partners, Redpoint Ventures, and Salesforce Ventures. More: - Qualified will use the proceeds of the funding to further develop its technology and scale its business.
- Pitchbook valued the company at $376M last year.
- The company claims to have increased revenue by 400% YoY with a net customer retention rate of 150%.
- Autodesk, GE Healthcare, iHeartMedia, and Fujitsu are a few of its most prominent clients.
- Salesforce led a Series B funding worth $51M into Qualified in May 2021.
- Until the Series B round, the firm has secured $68M in funding.
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Call center automation solution provider Replicant raised $78M through a Series B funding round. Salesforce Ventures, Omega, IronGrey, Norwest, and Atomic participated in the funding led by Stripes. Incoming funds will be used to grow its customer success team and double R&D efforts. More: - The company's estimated post-money valuation stands at $550M, per sources close to TechCrunch.
- Replicant has tackled over 30 million customer service calls since its founding in 2017.
- The company has secured $110M in funding to date.
- The global call center automation market is forecasted to grow to $3.54B by 2026, up from $967M in 2020, per Expert Market Research.
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- Retail technology company Upside raised $165M in funding at a $1.5B valuation. The funding consisted of $65M in equity financing led by General Catalyst and $100M in debt financing.
- Boardman Bay Capital Management led a $130M Series C financing into California-based optical connectivity solution startup Ayar Labs. Hewlett Packard Enterprise (HPE), NVIDIA, Applied Ventures LLC, GlobalFoundries, Intel Capital, and Lockheed Martin Ventures participated in the funding.
- Indian cricket NFT platform Rario secured $120M in Series A funding led by Dream Capital with participation from Alpha Wave Global.
- Singapore-based music creation and sharing platform BandLab received $65M in Series B funding led by Vulcan Capital. The platform received a post-money evaluation of $315M.
- Podcast recording platform Riverside secured $35M in Series B funding led by Oren Zeev with participation from Lachy Groom and Seven Seven Six.
- Israel-based Source Defense raised $27M in Series B funding. Springtide Ventures led the funding into the security and compliance platform.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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