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San Francisco-based HR software firm Rippling secured $250M in Series D financing. The Bedrock and Kleiner Perkins co-led financing round gave the company an $11.25B valuation. Existing investors Y Combinator and Sequoia Capital participated in the funding. More: - The company provides businesses a platform to manage their human resources and includes features such as employees’ onboarding and payroll management.
- Incoming proceeds will help the company expand its product offerings — with seven new products in the pipeline — and scale its business.
- The company reported $100M in annual recurring revenue.
- Rippling has secured a total of $700M in capital to date.
- Its last fundraising came in the form of a Sequoia Capital-led $250M Series C investment in Oct. 2021 at a $6.5B valuation.
- Bedrock contributed $125M in the current funding round.
- The company's current worth is more than double that of Zenefits, where CEO Parker Conrad formerly worked as a chief executive.
- Zenefit was valued at $4.5B at its peak.
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Private investing platform Republic’s venture capital arm is looking to raise $700M toward two cryptocurrency-focused funds. Republic Capital has earmarked $200M for its flagship venture capital fund, with the other $500M for backing later-stage blockchain protocols. More: - 80% of the capital from its flagship venture capital fund will facilitate traditional equity investments in Web3, fintech, and deeptech startups, while the remaining 20% are set aside for token investments.
- Republic Capital had secured $60M for its crypto seed funding-focused fund in October last year.
- The company currently has over $1B of assets under management and has invested in over 100 companies.
- Notable previous portfolio companies include Kraken, Dapper Labs, Avalanche, Polygon, and Terra, among others.
- Parent organization Republic secured $150M Series B financing led by Valor Equity Partners in October last year.
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Habi, a Latin American real-estate digital marketplace, raised $200M in Series C funding led by Homebrew and Softbank Latin America Fund. The company received a $1B valuation, making it the first unicorn PropTech in the Spanish-speaking Latin American region and the only one to be founded by a female. More: - Habi provides a full stack of real estate solutions, including brokerage, marketplace, and financial services.
- The startup currently operates in 15 cities across Mexico and Colombia.
- It reported a 20x growth in revenue last year.
- Proceeds from the funding will enable further geographic expansion and help expand its suite of offerings.
- SoftBank led its last $100M Series B funding round in June 2021.
- Since the last funding, Habi acquired online marketplaces Propiedades.com and iBuyer Tu Canton, expanded operations into Mexico, and strengthened its leadership team.
- The round saw participation from Banco Mercantil del Norte, Institución de Banca Múltiple, Grupo Financiero Banorte , Tiger Global, Inspired Capital, and Clocktower Ventures, among others.
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Fasanara Capital is looking to raise $350M for a new fintech and cryptocurrency focussed venture fund. The London, U.K.-based asset management firm has already secured $100M in commitments, as reported by The Block. Sixty percent of the new fund will be earmarked for fintech startups, with the rest to be invested across cryptocurrency and Web3 firms. More: - Fasanara has invested in blockchain-based payment infrastructure startup Twig and gaming reward token store Scuti, with the funding secured under the new fund.
- The company expects each investment to range between $500,000 and $5M, with the option of an equity and token deal mix.
- The company has over $3.5B in assets under management and has raised a combined $550M for its last two fintech-focused venture funds.
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Founders Fund led a $100M Series C financing into California-based zero trust email security platform Material Security. The company's USP is protecting emails even after a compromise. The company cemented its unicorn status with the recent fundraising, valuing the firm at $1.1B. More: - Material Security intends to use the incoming funds to grow its marketing and sales team, expand its product portfolio, and fuel geographic expansion.
- Prominent enterprise clients include Lyft, DoorDash, Roblox, Mars, Stripe, and Chubb.
- Since its founding in 2017, the company has secured $166M in total capital to date.
- The funding round saw participation from Andreessen Horowitz and solo investor Elad Gil.
- CEO Ryan Noon reported revenue doubled YoY without disclosing the actual figures.
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Evisort, an AI-powered contract management platform, secured $100M in Series C funding led by TCV. The round received backing from Breyer Capital, General Atlantic, M12, Amity Ventures, and Vertex Ventures. More: - To date, it has secured $150M in total funding, last raising $35M via a Series B funding round in Feb. 2021.
- General Atlantic led the Series B financing.
- Evisort intends to bring improvements to its customer experience, accelerate product development, and scale its business globally with the proceeds from the funding round.
- Amol Helekar, TCV’s General Partner, joins the Envisort board of directors as part of the deal.
- The company has over 150 enterprise customers.
- Bank of New York Mellon, Microsoft, Motley Fool, Vonage, and NetApp are a few of its esteemed customers.
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Quick Hits: - From 5x to 10x, VC growth stage revenue multiples have doubled in the past year, according to the 2022 Pepperdine Private Capital Markets Report.*
- Venture capital firm Educapital secured $105M in commitments toward its second edtech-focused fund. The firm is targeting a $160M (€150M) final close for its fund. The firm will invest between $3.16M (€3M) and $10.5M (€10M) in Series A stages.
- Boulder, Co.-based ColdQuanta acquired Super.tech to expand its quantum hardware and software capabilities. Financial details were not disclosed.
- French HR digital transformation company HR Path secured $237M (€225M) in funding led by Andera Partners with participation from Societe Generale Capital Partenaires, Société Générale, BNP Paribas, Crédit Agricole Ile de France, and others.
- Texas-based last-mile freight technology company Mothership received a $76M financing from Benchmark, WestCap, and Bow Capital.
- California-based software observability platform Observe raised $70M in a Series A-2 financing from Sutter Hill Ventures, Capital One Ventures, and Madrona Ventures.
- Pitango Growth and Saban Ventures co-led a $67M Series C financing into Nexite at a $356M post-money valuation. The Israel-based company provides a merchandise tagging and tracking solution. Battery Ventures, Intel Capital, Pitango First, and Vertex Ventures participated in the funding.
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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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