Trip Actions has raised a $400M credit funding round from Goldman Sachs and Silicon Valley Bank to expand its expense management platform. The company started offering the service as its travel business was shut down during the lockdown. More: - Trip Actions is a travel and corporate card expense management platform. The company enables users to book their journey within minutes and helps them save up to 90% on hotel bookings.
- After the COVID-19 lockdown in 2020, the company had to pivot to general expense management since travel was canceled everywhere around the U.S.
- The amount spent by customers on TripActions increased by 400%, while the company also saw 4.2x year-over-year revenue growth in Q3 2022.
- Some of its customers are Pinterest, Lyft, Heineken, Box, Ancestry.com, Thomson Reuters, Axios, etc.
- Goldman Sachs has invested a guaranteed $200M, with the option to deploy another $100M if needed. Silicon Valley Bank will invest $100M.
- The California-based company has over 2500 employees and has raised $2.2B since being founded in 2015.
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Marketing tool developer Banzai has acquired distribution platform Hyros for $110M. The company announced that it is also going public via a SPAC, raising $100M. More: - The acquisition will be officially completed after Banzai first concludes its SPAC deal with 7GC & Co Holdings. The company is expected to go public in NASDAQ, while company estimates claim that the newly formed business unit will be worth $380M.
- Banzai is a marketing company that creates customer engagement products. The company aims to help its clients target, contact, and sell to the specific audience that they want.
- The company's two main products are named Reach and Demio. Reach helps clients target customers through Artificial Intelligence and then leads them to attend events organized by the client, while Demio helps users easily create webinars and extract specific data afterward.
- Banzai, founded in 2015, has around 7,000 customers and has raised $220M so far.
- Company officials stated that this deal will allow the company to reap the benefits of a market consolidation that they anticipate will happen in the next 48 months.
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reAlpha Asset Management has raised a $100M funding round to enable digital investments in vacation homes. The company is based in Dublin, Ohio. More: - reAlpha is a digital real estate investing platform that aims to make it easier to invest in vacation home properties that could rise in value and help investors create wealth.
- The company finds properties through its proprietary AI algorithm called reAlphaBRAIN. The AI platform predicts how much a specific property will be worth in the short-term rental market, as well as in the long term.
- This funding round was led by GEM Global Yield. As part of the deal, Gem Global Yield will provide reAlpha with a share subscription facility of up to $100M for a period of 36 months.
- The company aims to use the funding to expand its operations, invest in existing properties, and make acquisitions.
- reAlpha has recently reached a $200M partnership with SAIMS, as well as a $200M financing agreement with Churchill Real Estate.
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VC firm Jenson Funding Partners has launched a $73M fund to invest in U.K.-based early-stage climate startups. The company is based in London, United Kingdom. More: - The fund has to be fully deployed by 2026, starting from Q2 2023.
- Jenson Funding Partners will invest in 60 pre-seed and seed-stage companies in the first year. From there, the company will make 20 investments in the second year and write 10 checks to the most successful portfolio companies in the third year.
- The B-Corp firm invests in startups that are: in the Pre-Seed up to Series A stages, based in the U.K., and working on climate tech.
- So far, the investment company has had 10 exits and claims to have an average ROI of 4x.
- Some of its portfolio companies include The Seam, TreeApp, ZappedSkin, Vestico, etc.
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Today's funding 💵 Supply Chain - GoBolt (Canada), provides last-mile logistics services for e-commerce companies: $53M Growth led by Yaletown Ventures, with participation from Export Development Canada, BDC Capital, Whitecap Venture Partners, MIG Group, Northleaf Capital Partners, BMO Capital Partners, and Ingka Group.
Biotech - Dantari (California), a clinical-stage biotech company that develops therapies for cancer: $47M A led by Westlake Village BioPartners with participation from Corner Ventures, Alexandria Venture Investments, and Caltech.
- Vevo Therapeutics (Californa), aims to discover new drugs using its proprietary tech platform: $12M Seed co-led by Wing Venture Capital and General Catalyst with participation from Mubadala Capital, AIX Ventures, and Camford Capital.
- Eigen Therapeutics (California), an oncology biotech startup that aims to make cancer cells easier to track: $7M Seed led by First Round Capital with participation from Builders VC and multiple angel investors.
Cybersecurity - Second Front Systems (Virginia), a software company that aims to speed up the process of analysis and approval for national security projects: $32M A led by AEI HorizonX with participation from ARTIS Ventures, 8VC, Gula Tech Adventures, Abstract Ventures, Pallas Ventures, Gaingels, and Kleiner Perkins.
Artificial Intelligence - Pactum (California), provides an autonomous business negotiation platform: $20M Growth led by 3VC with participation from Maersk Growth, NordicNinja VC, Atomico, Project A, Metaplanet, and Taavet+Sten.
Health tech - SaVia Health (Utah), creates automated healthcare workflow solutions: $8.5M Seed led by Intel Capital with participation from Kickstart, Peterson Ventures, Tom Burton, and Dr. Brent James.
Deeptech - Treble Technologies (Iceland), a company that creates sound simulation experiences: $8.4M Seed led by Frumtak Ventures with participation from NOVA.
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- XYZ Venture Capital led a $12M Seed funding round for Pebble, a company that aims to provide comprehensive health benefits for enterprises.
- Mezo (Illinois), which provides an AI platform that helps homeowners with property maintenance, raised a $6M Seed round led by Chicago Ventures and Building Ventures, with participation from The 81 Collection.
- Uplinq, an Arizona-based company that provides automated bookkeeping solutions, has raised $5.6M in a Seed funding round led by AZ-VC.
- Seattle-based mobile hospitality company Cabana has raised $3M in a funding round led by TechNexus Venture Collaborative.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | 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 and 1972 Fords. | |
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