Cyber insurance provider Coalition has announced that it closed a $250M Series F funding round, bringing its total funding raised to date to $755M. Participation came from Allianz X, Valor Equity Partners, Kinetic Partners, and existing investors. More: - A San-Francisco-based startup, Coalition was founded in 2017 and claimed to be the "world's first Active Insurance company, combining comprehensive insurance and proactive cybersecurity tools."
- The company has grown to serve over 160,000 customers.
- As a result of its latest funding round, Coalition's value now stands at $5B, a significant increase from its previous valuation of $3.5B.
- Coalition currently has operations across all 50 U.S. states and provides services in Canada.
- Despite being young, the cyber insurance market is expected to reach $29.2B by 2027, according to a recent report by MarketsandMarkets.
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TrueBinding, a biotech firm based in Menlo Park, California, raised $100M on Wednesday to develop technologies for combating Alzheimer's. The deal is not being widely advertised, as demonstrated by the SEC filing not specifying the investors and the company declining to give a comment, CrunchBase reports. More: - TrueBinding was founded six years ago and has been developing technologies to fight Alzheimer's for as long as it has existed.
- The firm specializes in synthesizing specialized artificial molecules, which can be used for medical applications ranging from biotherapeutics to Immuno oncology, a form of cancer treatment.
- The aging population of much of the developed world makes Alzheimer's a rapidly growing problem.
- In June, two Massachusetts-based firms, Cognito Therapeutics and Alzheon, together raised over $100M to develop Alzheimer's treatments.
- This came after Neuron23, a California-based company, raised $100M by itself in a round led by SoftBank Vision Fund.
- The cost of overall spending on treatments for Alzheimer's in the United States is approximately $305B annually. The Center for Disease Control and Prevention calculates that around 5.8 million people in the U.S. suffer from dementia, a condition caused by Alzheimer's.
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Healthcare operating system provider Tebra has established itself as a unicorn after raising $72M in its latest funding round at a valuation of over $1B. The round, which brings Tebra's total funding raised to date to $137M, was led by New York-based Golub Capital. More: - Tebra was formed last year from a merger between two medical software companies, Kareo and PatientPop.
- The merger closed on Nov. 2, 2021, and formed an entity consisting of 1,000 employees who provided services to 20,000 medical practices.
- The merged entity was speculated to be worth over $1B but the company refused to comment at the time.
- Tebra specializes in providing an operating system to healthcare providers, including small independent providers in rural locations.
- The company now counts over 100,000 medical providers as its customers.
- Tebra's clients collectively serve over 85 million patients in the U.S.
- Tebra's software and related services specialize in advancing patient-centered healthcare.
- The software focuses on collating data to give patients individualized care.
- Tebra's offering now includes an app that links patients to healthcare providers near to them.
- Care Deliver, one of the services linked to Tebra's software, is intended to increase the time that doctors spend with patients by reducing the time it takes to fill in paperwork.
- Personalized healthcare is a key emerging trend in the medical industry.
- Personalized services are driven by advances in data collection and collation technologies.
- These technologies have attracted interest because of their potential to bring down healthcare costs.
- The market for personalized health care was valued at $1.9T in 2020 and is expected to grow to $5.7T by 2030.
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Global VC funding in the cybersecurity sector has dropped below $4B for the first time since Q4 2020. The decline suggests that this sector is not immune from the general VC malaise that is gripping other industries, particularly those in the tech startup scene. More: - The current figures indicate that VC funding for cybersecurity firms has dropped by $4.34B from its peak of $8.24B in Q4 2021.
- Despite the recent slowdown, investments in cybersecurity in the first half of 2022 are comparable to the amount invested at the same time last year.
- The first half of 2021 saw $9.9B invested in cybersecurity firms, while $9.8B was invested in this sector during the same period this year.
- Despite the dropoff, several major deals have taken place in the cybersecurity world in the past few months.
- In April, SonarSource, a Switzerland-based firm, raised $412M, while San Francisco-based startup Abnormal Security raised $210M in May.
- While data suggests that VC investments in cybersecurity have declined, the risk-off attitude is unlikely to prevail for long. With geopolitical uncertainties, notably the Russian invasion of Ukraine, defining global trends, the market for cybersecurity products is likely to continue growing rapidly.
- In 2021, cybercrime cost $6.9B in the U.S. alone, according to FBI figures.
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Hidden Road, a global credit network focusing on institutional investors, has raised a $50M Series A round. The round was led by Castle Island Ventures. Other participants included Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Windermute, SLN Capital, Profluent Trading, Coinbase Ventures, and Corner Capital. More: - Hidden Road was founded in 2018 and is based in the British Virgin Islands.
- The firm's key offerings include a platform based on quantitative technology that provides clients with real-time risk management.
- Hidden Road provides clearing, prime brokerage, and other financial services for both digital and traditional assets.
- The successful funding round comes despite VC investments into the fintech sector dropping by 18% in Q1 2022, per data from CB Insights.
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The difficult-to-understand nature of battery technology has created a funding gap in the sector, Bloomberg reports. Since 2017, battery-related startups have attracted only $3.3B in VC funding. This figure is minimal compared to $210B in VC capital brought in by fintech startups in 2021 alone. More: - Sweden-based battery startup Northvolt recently raised $2.75B in its latest funding round, making it a notable exception to the lackluster VC interest in the sector as a whole.
- Battery technology faces several bottlenecks, including high dependence on metals with difficult-to-predict price changes.
- While several possible solutions exist, R&D into new battery technologies has been hampered by the limited access that battery startups have to VC funding.
- Most VC investments into electric energy technology have gone into the renewable power and EV vehicle sectors rather than battery startups.
- Inflation combined with a lack of access to funding has resulted in LG Energy Solution, a South Korea-based firm, halting its plans to build a $1.3B facility to manufacture batteries in the U.S.
- The announcement accompanied a 4.6% drop in the company's share price.
- The slow movement of capital into battery firms has resulted in a weak and limited supply chain.
- The U.S. Department of Energy has announced new measures intended to divert public resources to scale up the production of batteries in the United States to strengthen the supply chain.
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Quick Hits: - Expense management slowly killing you? Get $100 to see how painless it should be.*
- Griffin, a fintech specializing in banking-as-a-service (BaaS), has raised $15.5M to build a full-stack digital platform. The round was led by Notion Capital and brings the total amount raised by Griffin to $27M.
- Construction-focused software startup Adaptive has raised a $6.5M Seed round led by Andreessen Horowitz (a16z). The company currently focuses on simplifying the management of construction spending.
- A trading firm that provides options and futures settled in stablecoins has raised $7.6M (€7.5) in its Series A round. Based in Gibraltar, Thalex is a crypto-native firm that offers a range of portfolio services.
- U.S.-based proptech Openn North America has raised $5M to expand its operations on the continent. The firm is a subsidiary of Openn, an Australian company that streamlines property transactions.
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 |  | Gregory Bridgman is a writer and researcher with an academic background in politics and the philosophy of science and technology. He holds a BA from the University of Cape Town, an MS from University College London, and is currently completing a PhD at the University of Cambridge. He is interested in climate issues, technological changes, and the implications of the fourth industrial revolution. Please feel free to contact me at gregory@inside.com! | | | | 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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