Clear Street raises $270M Series B extension to digitize prime brokerage infrastructure, reaches $2B valuation

Plus: ID.me raises $132M Series D to offer identity verification for secure logins

Inside.com Part of   Network April 12, 2023

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Clear Street has raised a $270M Series B extension to digitize prime brokerage infrastructure for financial institutions. The company is now valued at $2B. More: The company offers a cloud-based prime brokerage services platform that aims to replace the current infrastructure used in large financial organizations. The platform processes over $10B worth of financial trades every day. Prysm Capital led the funding round, with participation from institutional investors and pension funds. Since its inception in 2018, the company has raised over $335M. Clear Street is based in New York.

ID.me has raised a $132M Series D to offer identity verification software that enables secure log-ins. The company has raised $210M since its inception. More: ID.me is an identity verification platform that enables federal agencies and enterprises to provide their users with a secure way to log in through identity verification. ID.me claims to have around 100 million users in 30 states across the U.S. Viking Global Investors led the funding round, with participation from CapitalG, Morgan Stanley Counterpoint, FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, and Scout Ventures. The company is based in McLean, Virginia. ID.me was founded in 2018.

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Smart home gym company Tonal has raised a $130M funding round. L Catterton led the funding. More: Tonal has a library of over 3,000 workouts in categories such as: Cardio, Yoga, HIIT, Mobility, Pilates, and Barre. The company has partnered with athletes such as LeBron James and Stipe Miocic. In addition to L Catterton, Cobalt, Dragoneer, Kindred Ventures, and THVC also participated in this funding round. The company aims to use the funding to strengthen its balance sheet, reach profitability, and expand its market reach. Tonal is based in San Francisco.

GM has invested $50M in lithium extraction company EnergyX. GM will now have exclusive access to a percentage of the lithium EnergyX extracts. More: EnergyX claims to have patented an innovative method of extraction that enables it to offer a highly competitive price. The investment was made from GM's venture arm, GM Ventures. EnergyX aims to use the funding to develop at least five new plants and hire at least 50 new employees. The plants will be located in Arkansas, California, Utah, Argentina, Bolivia, and Chile. The company has previously expressed its goal of becoming publicly traded by 2024. EnergyX is based in Austin and has an additional office in San Juan, Puerto Rico.

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💵 Today's funding: Robotics Carbon Robotics (Washington), produces laser weeding robots: $30M C led by Sozo Ventures, with participation from Anthos Capital, Fuse Venture Capital, Ignition Partners, Liquid 2, and Voyager Capital. Healthcare tech Oshi Health (New York), specializes in telehealth healthcare services: $30M B led by Koch Disruptive Technologies, with participation from Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures, and Takeda Digital Ventures. Cryptocurrency/Web3 Sei Labs (Remote), a blockchain development company that is building its own network: $30M Growth led by Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere, and Bixin Ventures.  B2B Elevate (Colorado), a benefits administration platform: $28M Growth led by Anthemis with participation from Fin Capital, Norwest Venture Partners, Greycroft, Bowery Capital, and Firebolt Ventures. SaaS NetBox Labs (Remote), a software platform that enables users to manage data infrastructure: $20M A led by Flybridge Capital, Grafana Labs, Mango Capital, Two Sigma Ventures, IBM, the Founder Collective, and Entrée Capital. Alice Technologies (California), enables construction companies to plan their projects: $13M Growth led by Swire Properties. Sustainability Emrgy (Georgia), a renewable energy technology and project developer: $18M A led by Oval Park Capital with participation from Fifth Wall, Blitzscaling Ventures, Overlay Capital, and Veriten. Consumer Prophet Exchange (New Jersey), a peer-to-peer sports betting exchange: $10M Growth led by MIXI, Ninjabet.com, and Chicago Trading Company.

Quick Hits: They're "realigning" the $19.4B joint surgery market…with robotics. Invest in Monogram ahead of their planned Nasdaq listing.* Texas-based financial infrastructure company Brassica Technologies has raised an $8M Seed round led by Mercury Fund, with participation from Valor Equity Partners, Long Journey Ventures, NGC Fund, Neowiz, Broadhaven Ventures, Armyn Capital, VC3DAO, and Alpha Asset Management. MedArrive, a Texas-based care management platform, raised an $8M Growth round led by Cobalt Ventures. Xclaim, a California-based platform that enables users to trade crypto assets locked by bankruptcy, has raised $7M. Customer profiling company Patri has raised $2.4M in a funding round led by Kickstart Fund with participation from Summit Capital, Capital Eleven, Peak Capital, Mucker Capital, Luxstone Group, and Luv Holdings. Put your data where your compute is — close to your users. Turso brings the SQLite database experience to the Edge. Get Started Free.* *This is sponsored content.

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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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