Category: Recent Funding

June 11, 2019 Off

Providing supplemental educational videos online nets Osmosis $4 million

By Jill T Frey

With over one million YouTube subscribers and 500,000 registered users for its supplemental educational videos, Osmosis, which bills itself as the Khan Academy of healthcare, has raised $4 million in new funding.

The round was led by Felicis Ventures, with participation from previous Osmosis investors including GreycroftCoverysFundRxFigure 8Social Starts, and LearnStart,

“By reimagining medical education, Osmosis is addressing a critical impending global crisis: the need to develop and retrain tens of millions of healthcare professionals over the next decade to meet growing demand,” said Aydin Senkut, founder and managing partner at Felicis Ventures.

Felicis is betting on Osmosis in part because of the increasing demand for healthcare professionals around the world. The company cites statistics claiming that roughly 35 million more healthcare professionals will need to be trained by 2030.

Co-founders Shiv Gaglani and Ryan Haynes met at … Read the rest

June 7, 2019 Off

Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users

By Jill T Frey

The rising popularity of omni-channel commerce — selling to customers wherever they happen to be spending time online — has spawned an army of shopping tools and platforms that are giving legacy retail websites and marketplaces a run for their money. Now, one of the faster growing of these is announcing an impressive round of funding to stay on trend and continue building its business.

Depop, a London startup that has built an app for individuals to post and sell (and mainly resell) items to groups of followers by way of its own and third-party social feeds, has closed a Series C round of $62 million led by General Atlantic. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski, founder and CEO of Swedish payments company Klarna, all also participated.

The funding will be used in a couple of areas. First, to continue building … Read the rest

June 6, 2019 Off

The Ticket Fairy is tech’s best hope against Ticketmaster

By Jill T Frey

Ticketmaster’s dominance has led to ridiculous service fees, scalpers galore and exclusive contracts that exploit venues and artists. The moronic approval of venue operator and artist management giant Live Nation’s merger with Ticketmaster in 2010 produced an anti-competitive juggernaut. It pressures venues to sign ticketing contracts under veiled threat that artists would otherwise be routed to different concert halls. Now it’s become difficult for venues, artists and fans to avoid Ticketmaster, which charges fees as high as 50% that many see as a ripoff.

The Ticket Fairy wants to wrestle away from Ticketmaster control of venues while giving fans ways to earn tickets for referring their friends. The startup is doing that by offering the most technologically advanced ticketing platform that not only handles sales and check-ins, but acts as a full-stack Salesforce for concerts that can analyze buyers and run ad campaigns while thwarting scalpers. Co-founder Ritesh Patel says … Read the rest

June 6, 2019 Off

Voatz has raised $7 million in Series A funding for its mobile voting technology

By Jill T Frey

Voatz, the four-year-old, Boston, Mass.-based voting and citizen engagement platform that has been at the center of debate over the merits and dangers of mobile voting, has raised $7 million in Series A funding. The round was co-led by Medici Ventures and Techstars, with participation from Urban Innovation Fund and Oakhouse Partners.

Voatz, which currently employs 17 people, is modeled after other software-as-a-service companies but geared toward election jurisdictions, working with state and local governments to conduct elections and provide related election management and cybersecurity services.

As we reported back in March, the city of Denver agreed to implement a mobile voting pilot in its May municipal election using Voatz’s technology, an opportunity that was offered exclusively to active-duty military, their eligible dependents and overseas voters using their smartphones.

The company hasn’t yet shared how many people wound up using the platform. As Voatz co-founder and CEO Nimit Sawhney … Read the rest

June 6, 2019 Off

Legacy, a sperm testing and freezing service, raises $1.5M

By Jill T Frey

Femtech is having a banner year, largely as a result of a massive uptick in venture capital financings for women’s fertility businesses. Men’s health companies, however, are having a moment too.

Legacy, a male fertility startup that won TechCrunch’s Startup Battlefield competition at Disrupt Berlin 2018, is today announcing a $1.5 million seed round led by Bain Capital Ventures. The news follows an announcement from Dadi, a sperm storage business that closed on $2 million in capital commitments from London-based seed fund firstminute capital and New York-based Third Kind Venture Capital four months ago.

Founder and chief executive officer Khaled Kteily tells TechCrunch that Legacy, which is based out of the Harvard Innovation Labs in Boston, will use the capital to expand its sperm analysis, improvement and cryogenic storage services.

Like the genetic testing business 23andMe, Legacy sends … Read the rest

June 4, 2019 Off

VCs bet $12M on Troops, a Slackbot for sales teams

By Jill T Frey

Slack wants to be the new operating system for teams, something it has made clear on more than one occasion, including in its recent S-1 filing. To accomplish that goal, it put together an in-house $80 million venture fund in 2015 to invest in third-party developers building on top of its platform.

Weeks ahead of its direct listing on The New York Stock Exchange, it continues to put that money to work.

Troops is the latest to land additional capital from the enterprise giant. The New York-based startup helps sales teams communicate with a customer relationship management tool plugged directly into Slack. In short, it automates routine sales management activities and creates visibility into important deals through integrations with employee emails and Salesforce.

Troops founder and chief executive officer Dan Reich, who previously co-founded TULA Skincare, told TechCrunch he opted to build a Slackbot rather than create an independent … Read the rest

June 4, 2019 Off

Sequoia-backed Whole Biome wants to heal your gut with medical-grade probiotics

By Jill T Frey

Whole Biome has pulled in $35 million in Series B financing from a list of investing titans, including Sequoia, Khosla, True Ventures, the Mayo Foundation and AME Ventues — just to name a few. The goal? To heal what ails you using microscopic bugs.

Medical science has caught on in the last few years about the importance of gut health using these bugs (also known as probiotics). Now startups are pitching in using venture money to come up with new and novel ideas.

“We’re at a unique point in time as the field of microbiome biology converges with enabling cutting-edge technologies and bioinformatics that will open up a whole new world of innovative health products,” said Colleen Cutcliffe, Whole Biome’s co-founder and chief executive officer.

Cutliffe, who hails from DNA sequencing company Pacific Biosciences, along with her partners Jim Bullard and John Eid, built a platform able to compute information … Read the rest

May 31, 2019 Off

Groupon co-founder Eric Lefkofsky just raised another $200 million for his newest company, Tempus

By Jill T Frey

When serial entrepreneur Eric Lefkofsky grows a company, he puts the pedal to the metal. When in 2011 his last company, the Chicago-based coupons site Groupon, raised $950 million from investors, it was the largest amount raised by a startup ever. It was just over three years old at the time, and it went public later that same year.

Lefkofsky seems to be stealing a page from the same playbook for his newest company, Tempus. The Chicago-based genomic testing and data analysis company was founded a little more than three years ago, yet it has already hired nearly 700 employees and raised more than $500 million — including through a new $200 million round that values the company at $3.1 billion.

According to the Chicago Tribune, that new valuation makes it — as Groupon once was — one of Chicago’s most highly valued privately held companies.

So why all … Read the rest

May 31, 2019 Off

Foursquare buys Placed from Snap Inc. on the heels of $150M in new funding

By Jill T Frey

Foursquare just made its first acquisition. The location tech company has acquired Placed from Snap Inc. on the heels of a fresh $150 million investment led by The Raine Group. The terms of the deal were not disclosed. Placed founder and CEO David Shim will become president of Foursquare.

Placed is the biggest competitor to Foursquare’s Attribution product, which allows brands to track the physical impact (foot traffic to store) of a digital campaign or ad. Up until now, Placed and Attribution by Foursquare combined have measured more than $3 billion in ad-to-store visits.

Placed launched in 2011 and raised $13.4 million (according to Crunchbase) before being acquired by Snap Inc. in 2017.

As part of the deal with Foursquare, the company’s Attribution product will henceforth be known as Placed powered by Foursquare. The acquisition also means that Placed powered by Foursquare will have more than 450 measureable media … Read the rest

May 30, 2019 Off

Password manager Dashlane raises $110M in Series D, adds CMO

By Jill T Frey

Password manager maker Dashlane has raised $110 million in its latest round of funding, the company said Thursday.

The company said Sequoia Capital led the Series D round, with partner Jim Goetz joining the board. Dashlane also said Lyft executive Joy Howard was appointed as its new chief marketing officer and will start in August.

Dashlane said it will invest its latest funds back into its core product and will focus on addressing the needs of its consumer and business customers.

Chief executive Emmanuel Schalit said the company is “only scratching the surface” of its security opportunities.

“Billions of people and millions of businesses around the world feel the pain of digital identity — from breaches to stolen identities and the nuisance of remembering passwords,” said Schalit.

“With this new capital and the addition of Joy to our leadership team, we have the resources to increase our product leadership, grow … Read the rest