• StrictlyVC: April 28, 2017

    Friday!! [Handstand forward roll, front tuck, hitch kick.]

    Fun new development for next Thursday night. Celebrated San Francisco chef Traci des Jardins is now coming, too, to talk about culinary leadership and food science alongside Impossible Foods CEO Pat Brown. Squeak!

    Top News in the A.M.

    Amazon shattered earnings expectations yesterday. Revenue hit $35.7 billion in the first quarter and the company said it remained profitable for the eighth straight quarter in a row.

    Qualcomm just revealed that Apple is cutting off licensing payments related to the iPhone until their legal dispute is settled, forcing the chipmaker to lower forecasts it gave just last week and sending its shares tumbling this morning.

    A Word from Our Sponsor . . .

    StrictlyVC is sponsored today by the Bay Area firm Greenbrier. Scandal; injury; breach; litigation; presidential tweet. Crises can damage your corporate brand, personal reputation, employee morale and have lasting financial impacts. That’s why you need Greenbrier. We provide crisis planning, strategic advice and tactical execution to clients facing complex image, marketing, branding, media, legal and political challenges. With more than 30 years experience predicting, mitigating, managing and building resilience against reputational risks, Greenbrier can help.

    For OpenGov, President Trump is a Boon for Business

    OpenGov, a Redwood City, Ca., company whose software helps local governments keep transparent financial records, has been picking up speed in a variety of ways, and co-founder and CEO Zac Bookman traces some of that momentum to the election of Donald Trump as U.S. president.

    “We had the best Q1 in company history. It’s typically a quiet quarter, and we blew the top off” our internal projections, says Bookman.

    He adds that OpenGov has seen a 20 percent surge in job applicants, too.

    It’s easy to see why Americans may be growing more focused about transparency than in recent years. In just one small example of how things have changed under the new administration, the White House announced earlier this month that it will no longer disclose the logs of those who visit, a meaningful shift in stance compared with the Obama administration, which disclosed more than 6 million related records.

    White House communications director Michael Dubke told reporters that the decision owes to the “grave national security risks and privacy concerns of the hundreds of thousands of visitors annually.” (The previous administration also redacted some records on a case-by-case basis.)

    The Trump administration has also removed the “Open Government” section from the White House website, and, more recently, Walter Shaub, director of the Office of Government Ethics, which advises federal agencies on how to ensure that employees comply with federal ethics laws, very publicly complained about the lack of transparency into potential conflicts of interest arising across the executive branch.

    To hear Bookman tell it, local governments are largely moving in the opposite direction, partly in reaction to these White House moves, but also because it’s easier than ever to make public data seeable and searchable.

    In fact, according to the five-year-old, 120-person company, there are now 1,400 public agencies across 47 states using OpenGov’s software, which helps governments create budgets and perform analytics, and allows residents to see what is being spent and where.

    Bookman half-jokingly suggests that a third reason that city and state governments are embracing its services is peer pressure.

    More here.

    New Fundings

    3D Robotics, an eight-year-old, Berkeley, Ca.-based early drone player turned aerial analytics play, has raised $53 million in Series D funding, including new equity funding and conversion of debt equity. Atlantic Bridge led the round, joined by Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield and other undisclosed investors. TechCrunch has more here.

    Avedro, a 10-year-old, Waltham, Ma.-based ophthalmic pharmaceutical and medical device company focused on corneal remodeling, has raised $42 million in equity and debt funding. The equity piece was led by HealthQuest Capital, with participation from earlier backers OrbiMed Advisors and InterWest Partners. The debt comes from an affiliate of OrbiMed. More here.

    Cubigo, a six-year-old, Hasselt, Belgium-based interactive online care platform for senior people, enabling them to access products, services, and applications that hopefully enable them to live independently longer, has raised €4 million (4.4 million) in funding, including from veteran entrepreneur Urbain Vandeurzen and Transvision. More here.

    Deep Sentinel, a 16-month-old, Pleasanton, Ca.-based home security startup, has raised $7.4 million in Series A funding led by Shasta Ventures, with participation from Bezos Expeditions, Lux Capital and UP2398. More here.

    Domo, a six-year-old, American Fork, Ut.-based business software maker, has added $100 million in Series D funding to its coffers from earlier investor BlackRock, along with international family offices in Europe and Asia. The company, now valued at $2.3 billion, is looking to raise as much as $200 million as it holds off on an IPO, says Bloomberg. More here.

    Epic Sciences, a nine-year-old, San Diego, Ca.-based developer of liquid biopsy tests to predict drug response in cancer patients, has raised $40 million in Series D funding led by Hermed Capital, with participation from Altos Capital Partners, Domain Associates, Genomic Health, Pagoda Investment, Reach Tone Limited, RMI Partners, Sabby Capital and VI Ventures. More here.

    Mech Mocha, a 3.5-year-old, Bangalore-based mobile game maker, has raised $5 million in Series A funding led by Accel Partners and Shunwei Capital. The outlet Bizztor India has more here.

    Me.me, a San Francisco, Ca.-based meme search engine, has raised $1.5 million in funding, including from Arjun Sethi from Social Capital, Peter Rojas from Betaworks Ventures, Danhua Capital, Mirarmar Ventures, and others. More here.

    Oddup, a 1.5-year-old, Hong Kong-based research platform that provides information to startup investing using data and analysis, has raised $6 million in Series A funding led by Brand Capital, the investment arm of The Times Group, India’s largest media conglomerate. Other investors included 500 Startups, Click Ventures, Moneta Ventures and White Capital. Tech in Asia has more here.

    Renovo Auto, a 6.5-year-old, Campbell, Ca.-based autonomous-vehicle tech startup that’s best known for turning a vintage DeLorean into a self-driving car (it’s creating what it calls autonomous mobility-on-demand software) has raised $10 million in fresh funding led by earlier backer True Ventures, with participation from Verizon Ventures. The WSJ explains the giant telecom’s interest here.

    Ripio, a three-and-a-half-year-old, San Francisco-based bitcoin and digital payments startup that was formerly known as BitPagos, has raised $400,000 in new Series A funding from Medici Ventures. The company had earlier closed the round in January with $1.9 million led by China-based Huiyin Blockchain Venture, with participation from earlier backers Digital Currency Group, Boost VC and Draper VC. More here.

    Singapore Life, a three-year-old, Singapore-based company that plans (but is not yet authorized) to offer users a wide range of insurance products, has raised $50 million in Series A funding from the Hong Kong-listed integrated financial technology group Credit China FinTech Holdings Limited and the U.K.-based private equity firm IPGL Limited. Tech in Asia has more on this somewhat strange deal.

    Xee, a six-year-old, Marquette-Lez-Lille, France-based connected car services platform, has raised €12 million ($13 million) in funding from Bridgestone EMEA, Total, Cofip, and Via ID. Tech.eu has more here.

    IPOs

    Cloudera‘s shares have jumped 20 percent this morning, on its first day of trading, but industry insiders are still wondering whether it’s really a win.

    Carvana, the used car retailer, also saw its shares begin trading today, and they’ve since driven off a cliff.

    Meanwhile, Appian, a nearly 18-year-old, Reston, Va.-based business process management provider, just filed to go public. Its plan: to raise up to $86 million. The company has raised just less than $50 million over the years, according to Crunchbase. Its biggest shareholders include Novak Biddle Venture Partners, which owns 21.5 percent of the company, and New Enterprise Associates, which owns 11.7 percent.

    Exits

    Purdue University, a flagship public institution in Indiana, is jumping into online education by buying for-profit Kaplan University with the aim of creating a new, public online university, reports USA Today. The unusual acquisition aims to extend Purdue’s reach to more working adults. Purdue paid just $1; Kaplan will meanwhile continue running the university and it will collect 12.5 percent of the new school’s revenue for the next 30 years. More here.

    Taboola and Outbrain, two content recommendations companies that employ roughly 500 people, were formed the same year (2006), and have each raised substantial sums of venture capital, are in advanced merger talks, reports the Israeli news outlet Calcalist. The deal isn’t final, says the report, but the two companies have moved past many of the sticking points that ended earlier talks between the two companies, including in late 2015. More here.

    People

    Anthony Levandowski, the head of Uber’s self-driving group, is stepping aside in face of trade-theft accusations from his former employer, Waymo. In an email to colleagues yesterday, Levandowski said he will no longer be working on work related to Lidar, the specialized radar sensors that autonomous vehicles rely on to map their surroundings and to navigate on their own. He’ll remain at Uber, though, reports Business Insider, which has some skeptical that this move is much more than theater meant to appease a judge in Uber’s related battle with Alphabet’s self-driving vehicles unit, Waymo.

    Former Y Combinator partner and chief operating officer Qasar Younis has left the company to work on “something new,” he revealed on his personal site and Facebook account. Younis first participated in the accelerator in 2010 as an entrepreneur. Three years later, he joined Y Combinator as an investor after selling his company, TalkBin, to Google. VentureBeat has more here.

    Jobs

    Bolt, the hardware-focused venture firm, is hiring a Director of Platform and Portfolio. The job is in San Francisco.

    Unternehmertum Venture Capital Partners (UVC Partners) is looking to hire an investment associate. The job is in Munich.

    Data

    Good news, says Bloomberg research; the startups economy may be stabilizing.

    Essential Reads

    Didi Chuxing, the Uber of China, has confirmed that it has closed on $5.5 billion from investors. TechCrunch sources say the company is now valued at more than $50 billion.

    According to The Information, Tencent is opening an AI research center in the Seattle area to be run by former Microsoft principal researcher Yu Dong.

    Meet Aurora, the secretive startup from the best minds in self-driving cars.

    If you grow frustrated with Uber, it’s now much easier to delete the app.

    Detours

    Thirty-one explosive facts about volcanoes.

    Thirty Met Gala looks.

    One hundred WTF moments from President Trump’s first 100 days.

    Essential Reads

    Lighter beers for summer.

  • StrictlyVC: April 27, 2017

    Thursday!  Thanks very much to those of you who wrote in yesterday; we’ve given away the handful of tickets we had courtesy of Bullish, and our event is pretty much packed to the max at this point. For those who might be interested, in the “product you can’t do without” category, we had lots of votes for the iPhone, along with earbuds and a car tracking application called Automatic that sends reminders to move your car for street cleanings. (The company just sold to SiriusXM, incidentally. More on that below.) What the majority of readers wish would go away, a little to our surprise: Facebook and their Fitbits.

    Top News in the A.M.

    Apple appears to be working on a person-to-person payment service.

    A Word from Our Sponsor . . .

    StrictlyVC is sponsored today by the Bay Area firm Greenbrier. Scandal; injury; breach; litigation; presidential tweet. Crises can damage your corporate brand, personal reputation, employee morale and have lasting financial impacts. That’s why you need Greenbrier. We provide crisis planning, strategic advice and tactical execution to clients facing complex image, marketing, branding, media, legal and political challenges. With more than 30 years experience predicting, mitigating, managing and building resilience against reputational risks, Greenbrier can help.

    Barry, Dave, Bob: More Startups ‘Humanize’ Their Offerings

    Naming companies is a daunting task, as anyone who does it for a living can attest. “It’s difficult to criticize a name,” says S.B. Master, a Berkeley, Ca.-based founder who has launched two naming companies in her career, one of which is nearly 30 years old. “From choosing a name, to getting a team to agree to it, to clearing that name from a trademark and URL and social media standpoint — it’s a pain.” By “triangulating around these difficulties, people end up someplace, which is better than no place,” she adds sympathetically.

    Interestingly, the place where a growing number of startups seems to be landing is on a person’s name that may have nothing to do with their business.

    This week, for example, a year-old, L.A.-based company called Dave raised $3 million for an app that predicts upcoming expenses and alerts users if their bank balance is low. Its founders say that people often ask friends or family for short-term loans to cover shortfalls; they want their customers to think of their startup as a pal who’s also looking out for their best interests.

    Another company, U.K.-based Hibob (for “Hi, Bob”), raised $17.5 million in Series A funding this week for its cloud-based HR and benefits platform.

    Other companies have taken the same tack in recent years, including an app called Barry that lets users save full-length webpages, the tech-focused health insurance company Oscar and Clara, the virtual assistant company, whose name probably makes the most sense of the bunch, given that assistants have historically been actual people.

    Indeed, assigning tech startups human names dates back at least five years. Alex Friedman, president of Ruckus Marketing in New York, points to Casper, the mattress and bedding company whose brand evokes the friendly ghost who helps keep his friends safe while they sleep. There’s also Harry’s, the shaving gear company whose name evokes, of course, hair. And founders have named companies after themselves for as long as anyone can remember, in tech or otherwise. The online education company Lynda.com is named after co-founder Lynda Weinman. Philz Coffee is named after founder Phil Jaber.

    Still, assigning companies human names simply to make tech products more approachable is a  newer trend, and it’s poised to escalate quickly in the age of artificial intelligence. Branding experts can’t quite agree on whether it’s an approach to emulate or avoid, either.

    More here.

    New Fundings

    HealthVerity, a three-year-old, Philadelphia, Pa.-based health IT Platform, has raised $10 million in Series B funding co-led by earlier investors Flare Capital Partners and Greycroft Partners, with participation from Foresite Capital. Technically Philly has more here.

    Lynk, a four-year-old, Hong Kong-based data-driven curation and knowledge sharing platform that connects enterprise users to experts in a variety of fields, has raised $4 million in Series A funding round led by Hong Leong Group. Other investors in the round include include Cyberport, Zhuhai Da Heng Qin and CRE Venture Capital. DealStreetAsia has more here.

    Propel, a three-year-old, Brooklyn, N.Y.-based startup that helps food stamp recipients manage their benefits, has raised $4 million in seed funding from Andreessen Horowitz, Omidyar Network, Kevin Durant’s The Durant Company and Max Levchin’s SciFi VC, as well as from previous investors Jay Borenstein, WinWin and the Financial Solutions Lab at the Center for Financial Services Innovation. TechCrunch has more here.

    Riskmethods, a 2.5-year-old, Munich, Germany-based SaaS company focused on discovering risk exposure in supply chains, has raised €13.5 million ($14.7 million) in Series B funding. Digital+ Partners led the round, with participation from earlier backers EQT Ventures, Senovo and Bayern Capital. EU Startups has more here.

    UiPath, a five-year-old, London-based company whose apps help businesses automate repetitive functions like processing insurance claims or employee onboarding, has raised $30 million in Series A funding. The round was majority led by Accel Partners, with participation from Earlybird, Credo Ventures and Seedcamp. TechCrunch has more here.

    WorkMarket, a nearly seven-year-old, New York-based freelancer-management startup, has raised $25 million in fresh funding from Accenture and Foundry Group. The company has now raised $56 million altogether. The WSJ has more here.

    Zeta Global, a 10-year-old, New York-based marketing tech company, has raised $140 million in Series F funding ($115 million of it in equity and $25 million in debt). Backers include GPI Capital, as well as funds sponsored by Franklin Square Capital Partners. TechCrunch has more here.

    New Funds

    Origin Ventures, an early-stage, 18-year-old venture firm based in Chicago, has closed its fourth fund with $80 million in commitments. The fund is twice as big as the firm’s third fund, which closed in 2013. The sum is even more meaningful when compared to the outfit’s first two funds. One of those was a $1.5 million fund that cofounder Steve Miller pooled together with a cofounder in 1999 to try his hand at venture. (He was previously involved with his family’s office products business, Quill Corp., which sold to Staples in 1998.)  A second fund, with outside funding, closed in 2005 with $15.5 million. More here.

    Warburg Pincus, the private equity firm where former Treasury Secretary Tim Geithner is president, is targeting $1.6 billion for its first fund dedicated to financial services, reports Bloomberg, which says the firm aims to close on the capital in December. More here.

    Exits

    SiriusXM has acquired Automatic, the six-year-old, San Francisco-based smart driving assistant company (it makes the Automatic Pro and Automatic Lite connected car OBD-II port accessories). Sirius is paying a little more than $100 million, says its CFO. Automatic’s brand will remain separate. According to Crunchbase, Automatic had raised $24 million from investors, including Y Combinator, Lumia Capital, USAA, Comcast Ventures, and Anthemis Group, among others. TechCrunch has more here.

    People

    According to Reuters, Tesla executive Klaus Grohmann was ousted last month after a clash with CEO Elon Musk over the strategy of Grohmann’s firm, which Tesla had acquired in November. The carmaker is counting on Grohmann Engineering’s automation and engineering expertise to help it ramp up production to 500,000 cars per year by 2018, but Musk was reportedly pressuring Grohmann to focus on Tesla at the expense of legacy clients like Daimler and BMW.

    Naspers Ventures has brought aboard Martin Tschopp as its COO, based in San Francisco. Tschopp joins the firm from Kiva.org, where as CEO for just less than two years and, before that a VP and GM with eBay.

    Mark Zuckerberg is definitely not planning to run for president. Probably.

    Jobs

    Samsung is looking to hire an investment director for its Catalyst Fund, which is focused on components and subsystems. The job is in Menlo Park, Ca.

    Also Sponsored By . . .

    StrictlyVC is also sponsored today by the Financial Solutions Lab at the Center for Financial Services Innovation, which is closing applications for its next class today. Financial Solutions Lab was the first investor in Propel, which is today announcing $4 million in seed funding led by Andreessen Horowitz. (See “New Fundings.”) Note that winning companies receive $250,000 in capital, plus access to incredible fintech resources. If you’re a fintech innovator with a solution that can help more Americans achieve financial health — or know someone who is — apply today. Seriously. Applications are due today.

    Essential Reads

    A new version of Apple Music is coming.

    Alphabet could bring home $47 billion in cash if President Donald Trump’s tax plan goes through.

    Speaking of the president’s tax plan: we’d written about this late last year, when Trump was promising his campaign supporters a 15 percent business tax for members of partnerships and other pass-through business entities. The experts we’d spoken with at the time warned that the tax is so low that pretty much every business in the U.S. would look to restructure itself into a pass-through business if it came to fruition, quickly destroying the economy. (Kansas passed a similar law in 2012. Now the head coach of the University of Kansas’ men’s basketball team — who reportedly makes more than $2.75 million a year — pays almost no income tax because he receives the bulk of his annual compensation through an LLC.) One tax specialist had noted that the rate was “not remotely practical when you consider the deficit challenges going forward” and called Trump’s plan “little more than an aspirational blueprint.” That sounds right to us, but stay tuned.

    Detours

    Meet the woman who took Bill O’ Reilly down.

    Why most middle school friendships are doomed to fall apart.

    How a misquotation is born.

    Retail Therapy

    White socks are back, Scooter.

  • StrictlyVC: April 26, 2017

    Wednesday!

    Bullish, a StrictlyVC sponsor and self-described creative venture firm (that we’re seeing recently received a nice write-up in Adweek, btw), has five last tickets to release to readers who want to join them — and us — next Thursday night at NextWorld Capital in San Francisco.

    To land them, just let us know in one or two sentences: what’s one consumer product you can’t do without, and one you wish would go away. (We’d probably say our iPhone for obvious reasons, and tropical shirts, also for obvious reasons, though Brad Feld pulls these off quite nicely.)

    Our other partners in the evening include: Square1Bank, the bank for entrepreneurs and investors; L.A.-based Rosebud Communications, PR for growing number of startups, and Haystack, seed-stage capital for innovators. Thank you all — we’re excited for this.:)

    Top News in the A.M.

    Instagram says it’s growing faster than ever and now has 700 million users.

    Ride-hailing giant Didi Chuxing is reportedly nearing an agreement to raise $5 billion to $6 billion in a deal that would make it the most valuable startup in China.

    And, it’s now official: the ride-hailing app Gett has acquired New York rival Juno. The price? $200 million. More here.

    A Word from Our Sponsor . . .

    This week’s StrictlyVC is brought to you by Greenbrier. Scandal; injury; breach; litigation; presidential tweet. Crises can damage your corporate brand, personal reputation, employee morale and have lasting financial impacts. That’s why you need Greenbrier. We provide crisis planning, strategic advice and tactical execution to clients facing complex image, marketing, branding, media, legal and political challenges. With more than 30 years experience predicting, mitigating, managing and building resilience against reputational risks, Greenbrier can help.

    New Fundings

    AIdoc Medical, a year-old, Israel-based company that has built what it describes as an AI that can spot visual abnormalities in medical scans, has raised $7 million in funding led by TLV Partners, with participation from previous investors, including Magma Ventures and Emerge. TechCrunch has more here.

    EverFi, a nine-year-old, Washington, D.C.-based education software startup, has raised $190 million in funding — one of the biggest ed tech rounds ever — including $120 million from Rise, the social impact investing fund established last year by TPG Growth. Other investors include TPG Growth (which kicked in another $30 million), MainStreet Advisors, and numerous earlier investors, including Jeff Bezos and Eric Schmidt. Fortune has more here.

    Huddly, a three-year-old, Oslo, Norway-based startup whose camera for remote company meetings (or huddles) aims to help managers glean better data from those meetings, has raised $10 million in Series B funding from undisclosed sources. More here.

    Ivalua, a 17-year-old, Redwood City, Ca.-based web-based spend management software company, has raised $70 million in growth equity minority funding from KKR, with participation from earlier investors, including Ardian. SiliconAngle has more here.

    MarcoPolo Learning, a 4.5-year-old, New York-based mobile-based early childhood education company, has raised $8.5 million in a first round of funding led by Boat Rocker Ventures, a division of Boat Rocker Media. Other investors in the round include Horizons Ventures, Seedcamp, the managing partners of DST Global, and numerous other individual investors. VentureBeat has more here.

    OverOps, a six-year-old, San Francisco-based application reliability and log intelligence company, has raised $30 million in Series C funding led by earlier investor Lightspeed Venture Partners, with participation from another earlier investor, Menlo Ventures. The company has now raised $52 million altogether. TechCrunch has more here.

    Oyo Rooms, a four-year-old, Gurgaon, India-based online hotel booking platform, is reportedly closing a $250 million round that will value the company at $850 million, led by earlier investor Softbank Group. Earlier investors aren’t pleased, reportedly. The Economic Times has more here.

    Quovo, a seven-year-old, New York-based company behind an API management toolkit for individual financial managers and financial services companies, has raised $10 million in new funding from F-Prime Capital and Napier Park Global. TechCrunch has more here.

    Robinhood, the four-year-old, Palo Alto, Ca.-based stock brokerage that allows customers to buy and sell U.S. stocks and ETFs without paying commission fees, has raised $110 million in Series C funding at a $1.3 billion valuation. DST Global led the round, with participation from Thrive Capital, Greenoaks Capital, and earlier backers New Enterprise Associates, Index Ventures, and Ribbit Capital. TechCrunch has more here.

    Tmon, a seven-year-old, Seoul-based mobile e-commerce company whose verticals include a grocery shopping service and travel meta-search platform, has raised $115 million in funding from Simone Investment Managers, with participation from earlier shareholders, including a number of sovereign wealth funds. VentureBeat has more here.

    Token, a two-year-old, San Francisco-based startup that helps financial services companies comply with EU regulations, has raised $15.7 million in Series A funding from EQT Ventures, Octopus Ventures and OP Financial Group. Tech.eu has more here.

    Token (yes, a separate Token), a year-old, New York-based gift recommendation app that offers end-to-end service for customers, has raised $2.5 million in seed funding led by Upfront Ventures, with participation from Slow Ventures and Human Ventures. TechCrunch has more here.

    Twistlock, a two-year-old, San Francisco-based maker of cloud container security software, has raised $17 million in Series B funding led by Polaris Partners, with participation from earlier backers YL Ventures, TenEleven and Rally Ventures. More here.

    WiBotic, a two-year-old, Seattle-based company that develops wireless charging platforms specifically for robots, has raised $2.5 million in seed funding led by Tsing Capital, with participation from Comet Labs, Digi Labs, and earlier investors W Fund, WRF Capital and Wisemont Capital. More here.

    Exits

    Gojimo, a eight-year-old, London-based app that helps U.K. high school students prepare for exams, has been acquired by Telegraph Media Group, the publisher of The Daily Telegraph and The Sunday Telegraph newspapers. Terms of the deal remain undisclosed; Gojimo is believed to have raised roughly $3 million, including from Index Ventures and JamJar Investments. TechCrunch has more here.

    Infor, a privately held software company in San Francisco, has acquired Birst, a San Francisco-based business intelligence platform. Financial terms weren’t disclosed, but the price has been pegged at $100 million. According to Crunchbase, Birst had raised $129 million in funding across three rounds, including from Sequoia Capital, DAG VenturesWellington Management, and Northgate Capital. Infor has raised at least $2.5 billion. Fortune has more here.

    Spotify has acquired the Brooklyn-based blockchain startup Mediachain, whose team will join the company’s office in New York where they will work on developing better technology for connecting artists and other rights holders with the tracks hosted on Spotify’s service. Terms aren’t being disclosed. According to Crunchbase, Mediachain had raised just $1.5 million in seed funding, including from Andreessen Horowitz and Union Square Ventures. More here.

    Vantiv, a Cincinnati, Oh.-based publicly traded payment tech company, is acquiring Paymetric, a 19-year-old, Roswell, Ga.-based electronic payments software company. Terms aren’t being disclosed. According to Crunchbase, Paymetric had raised $30.5 million from investors, including Palomar Ventures, Francisco Partners, and Austin Ventures. ZDNet has more here.

    People

    Sergey Brin is (of course!) working on his own secret airship. (Remember, this has been a fascination for the Google cofounder since way back when.)

    Advisors representing Gawker Media are now exploring whether they can bring a lawsuit against Peter Thiel.

    Investor Chris Sacca says he’s getting out the startup investing game.

    Ivanka Trump tells Axios that she plans to launch a fund that will benefit female entrepreneurs around the globe, and she says the capital will come from both countries and companies.

    Uber is being sued by the widow of an engineer who killed himself after working for the company for just five months. Her lawyer says his death was prompted by work-related stress.

    The cast and creators of HBO’s “Silicon Valley” explain how they keep the show fresh.

    Settlements

    Palantir Technologies will pay $1.66 million to settle a hiring discrimination complaint brought by the U.S. Labor Department. The payment is designed to cover back wages, stock options and other compensation for Asian engineers who applied for, but didn’t receive jobs at the data analytics startup. The company has also agreed to extend job offers to eight people who were unfairly denied jobs, according to a statement by the Labor Department. Bloomberg has the story here.

    Also Sponsored By . . .

    StrictlyVC is also sponsored today by the Financial Solutions Lab at the Center for Financial Services Innovation, which is accepting applications for its next class until tomorrow, April 27. “Winning companies receive $250,000 in capital, plus access to incredible fintech resources. If you’re a fintech innovator with a solution that can help more Americans achieve financial health — or know someone who is — apply today.  Applications are due tomorrow, so hurry!

    Essential Reads

    Uber is making it easier to see your rider rating.

    Silicon Valley hires the most alumni of these 10 universities, and none of them are in the Ivy League.

    A Waymo filing relating to its suit against Uber has revealed details about its lidar technology. You can learn more here.

    Detours

    Don’t call me a millennial.

    If you’re going to ask rapper Action Bronson about his glass collection, well, you’ll see what happens.

    Retail Therapy

    Bali Resort Hotel.

  • StrictlyVC: April 25, 2017

    Hi, everyone, hope you’re having a great Tuesday. (No column today; we’re in the middle of a few things but none is done quite yet.)

    Top News in the A.M.

    The Nasdaq composite just passed 6000 for the first time ever.

    Gett — the taxi-hailing service backed by $300 million from Volkswagen — is acquiring New York-based Juno, one of the latest ride-hailing upstarts, at a valuation of around $250 million, according to TechCrunch. More here.

    Uber plans to test self-driving cars within three years.

    A Word from Our Sponsor . . .

    Today’s StrictlyVC is being brought to you by Greenbrier: Scandal; injury; breach; litigation; presidential tweet. Crises can damage your corporate brand, personal reputation, employee morale and have lasting financial impacts. That’s why you need Greenbrier. We provide crisis planning, strategic advice and tactical execution to clients facing complex image, marketing, branding, media, legal and political challenges. With more than 30 years experience predicting, mitigating, managing and building resilience against reputational risks, Greenbrier can help.

    New Fundings

    AltheaDx, an eight-year-old, San Diego-based commercial stage molecular diagnostics company specializing in the field of personalized medicine, has raised $27 million in Series D funding from undisclosed sources. More here.

    Babylon Health, a three-year-old, U.K.-based mobile healthcare consultation app, has raised $60 million in Series B funding from the Sawairis, an Egyptian billionaire business family, earlier backers AB Kinnevik and Hoxton Ventures, and Deepmind founders Demis Hassabis and Mustafa Suleyman. The Financial Times has more here.

    Dave, a year-old, L.A.-based U.S.-only app that predicts upcoming expenses and alerts users if their bank balance is low, has raised $3 million in seed funding, including from billionaire Mark Cuban, SV Angel, The Chernin Group, and numerous others. TechCrunch has more here.

    Doc Halo, a seven-year-old, Cincinnati, Oh.-based real-time communications platform for physicians, nurses and other hospital staff, has raised $11 million in Series A funding led by Bain Capital Ventures, with participation from Refinery Ventures. The round marks the company’s first outside funding. More here.

    Faasos Food Services, a 13-year-old, Pune, India-based fast-food restaurant chain and online food delivery company, has raised $6.2 million from earlier backers Lightbox Ventures, Sequoia Capital India, RuNet South Asia and RB Investments. Times of India has more here.

    Forge Therapeutics, a 2.5-year-old, San Diego-based company that’s developing antibiotics to treat multi-drug resistant bacteria, has raised $15 million in Series A funding led by MagnaSci Ventures, with participation from Evotec AG, Alexandria Venture Investments, MP Healthcare Venture Management, Red Apple Group and WS Investments. More here.

    Hibob, a year-old, U.K.-based cloud-based HR and benefits platform, has raised $17.5 million in Series A funding led by Battery Ventures, with participation from Eight Roads Ventures, Arbor Ventures, and earlier backer Bessemer Venture Partners, which led the company’s seed round of $7.5 million last June. More here.

    Kidfresh, a 10-year-old, New York-based maker of all-natural frozen kids meals, has raised $10 million in Series B funding led by Monogram Capital Partners, with participation from earlier investors Emil Capital Partners and AccelFoods. More here.

    Kuiu, a six-year-old, Dixon, Ca.-based maker of high-end hunting gear, has raised $50 million from the San Francisco-based private equity firm Main Post Partners in exchange for a 23 percent stake in its business. Fortune has more here.

    LoveCrafts, a four-year-old, London-based e-commerce marketplace and social network for home crafters, has raised $33 million in Series C funding led by Scottish Equity Partners, with participation from earlier backers Highland Europe and Balderton Capital Partners. TechCrunch has more here.

    Nutriati, a four-year-old, Richmond, Va.-based food tech company focused on the research, development and commercialization of plant-based food ingredients, has raised $8 million in funding led by London-based Tate & Lyle Ventures, which invests in food sciences and enabling technologies. Powerplant Ventures, an L.A.-based venture firm that invests in companies leveraging the power of plants to deliver better nutrition, joined the round, too, along with a Richmond, Va., firm called NRV, and San Francisco-based Blueberry Ventures. More here.

    POPxo, a three-year-old, New Delhi, India-based digital publication targeted at young women, has raised $3.1 million in Series B funding round led by GREE Ventures, with participation from earlier backers Kalaari Capital and IDG Ventures India. The Economic Times has more here.

    Prescient, a 4.5-year-old, Arvada, Co.-based company that says it can plan, design, manufacture, build and operate multi-unit buildings far less expensively than has been possible previously, has raised $40 million in Series D funding from undisclosed sources at a pre-money valuation of $475 million, it says. The company has now raised $80 million altogether. More here.

    RapidSOS, a five-year-old, New York-based emergency technology startup, has raised $14 million in Series A funding led by Highland Capital Partners, with participation from Motorola Solutions Venture Capital, A3Ventures (a subsidiary of AAA), The Westly Group, Two Sigma Ventures, Responder Ventures, and several notable angel investors, including three former FCC chairs (Tom Wheeler, Julius Genachowski, and Dennis Patrick). More here.

    Rubrik, a three-year-old, Palo Alto, Ca.-based data management software company, is reportedly raising between $150 million and $200 million at a $1 billion valuation. The company previously raised around $110 million from investors, including Khosla Ventures, Greylock Partners and Lightspeed Venture Partners. TechCrunch has the story here.

    Science37, a 2.5-year-old, L.A.-based platform that enables qualified patients to participate in clinical studies from the comfort of their own home, has raised $29 million in Series C funding led by Glynn Capital, with participation from GV and prior investors Lux Capital, Redmile Group, dRx Capital, and Sanofi Ventures. The company has now raised $70 million altogether. TechCrunch has more here.

    Two Pore Guys, a 6.5-year-old. Santa Cruz, Ca.-based molecule biosensor developer, has raised $24.5 million in Series A funding led by Khosla Ventures. FierceBiotech has more here.

    New Funds

    SeedPlus, an early-stage, Singapore-based investment firm backed by Singapore’s Jungle Ventures, has closed its debut fund with roughly $18 million in commitments from limited partners that include Cisco and Eight Roads Ventures, the investment arm of Fidelity. According to TechCrunch, the outfit is looking to invest in up to six deals per year, with check sizes that range from around $350,000 to $725,000. More here.

    The state of Ohio has a new accelerator in Fintech71, which will welcome is inaugural class in September. The outfit is backed by KeyBank, Progressive, The Kroger Co., Grange Insurance, Huntington, FifthThird, First Federal Lakewood, Root Insurance, and Safelite, among others. More here.

    IPOs

    Cloudera‘s IPO pricing might not be as bad as it looks.

    Exits

    Suitcase, a three-year-old, Antwerp, Belgium-based fashion e-commerce startup that specializes in menswear, has been acquired by fashion house FNG. Terms for the deal weren’t disclosed. It isn’t clear that Suitcase raised outside funding. Tech.eu has more here.

    TeleSign Corp., a  12-year-old, Marina del Rey, Ca.-based company that makes security software that works to prevent online fraud,  is being acquired for $230 million by BICSan international communications company. TeleSign will continue to operate independently as a wholly owned subsidiary of BICS. TeleSign had raised $78 million from investors over the years, including Telstra Ventures, Summit Partners, March Capital Partners and Adams Street Partners. More here.

    Unilever, the giant food and consumer product company, is buying Sir Kensington’s, a seven-year-old, New York-based small condiment maker whose ketchup, mustard and mayonnaise is sold in Whole Foods, among other places. Terms aren’t being disclosed. The company was funded by the founders’ friends and family, along with Verlinvest, a Belgian family investment firm. Dealbook has more here.

    Billionaire Bernard Arnault’s LVMH is buying Christian Dior for $13 billion.

    Also Sponsored By . . .

    Today’s StrictlyVC is also sponsored today by the Financial Solutions Lab at the Center for Financial Services Innovation, which is accepting applications for its next class until April 27. Winning companies receive $250,000 in capital, plus access to incredible fintech resources. If you’re a fintech innovator with a solution that can help more Americans achieve financial health — or know someone who is — apply today.  Applications are due April 27, so hurry!

    People

    Marissa Mayer will make a stunning $186 million off Yahoo’s sale to Verizon.

    Home-sharing service Airbnb has assembled an in-house humanitarian team headed by designer Cameron Sinclair to help it achieve its aim of providing temporary housing for 100,000 people within five years.

    Jobs

    Blumberg Capital is looking to hire an analyst, a role that’s “intended as a two-year position.” The job is in San Francisco.

    Draper Associates is also looking to hire an analyst for a similar role. The job is in Menlo Park, Ca. Email karen@dfj.com to apply.

    Essential Reads

    Yesterday, Apple announced that it’s reducing the commissions it pays on apps and in-app purchases from 7 percent to 2.5 percent, effective May 1st. The move strikes many as a bit harsh.

    Google‘s self-driving cars have followed Uber to Arizona.

    Why Juicero‘s press is so expensive.

    Huddle, an 11-year-old, London-based content collaboration platform that has raised roughly $90 million from investors, needs to raise at least $5 million by month’s end, reports Business Insider.

    Detours

    How to become well-connected.

    Three high school bullies describe their reigns of terror.

    54 stocks deep in the, ahem, weeds.

    Retail Therapy

    Shipping container pools.

  • StrictlyVC: April 24, 2017

    Hi, happy Monday, everyone; hope you had a terrific weekend. We’re so excited to see many of you next Thursday. Later this week, we’ll be giving away one last set of tickets, courtesy of the creative agency Bullish, so stay tuned.:)

    Top News in the A.M.

    Amazon has created a 12-person team focused on driverless-vehicle technology, reports the WSJ. For now, say its sources, Amazon doesn’t intend to build a fleet of vehicles; instead, the team serves as an in-house think tank to figure out how to leverage autonomous vehicles. More here.

    Square just acquired the team from the struggling social app Yik Yak. Bloomberg has the story.

    Ofo, the three-year-old, Beijing-based dockless bike-share company, has raised yet more funding, just two months after closing a $450 million round. (Ofo investor Atomico suggested to us in a recent, related story, that this was coming.) The undisclosed amount of funding comes from Alibaba’s financial arm, Ant Financial, which will be partnering with Ofo on e-payments. TechCrunch has more here.

    A Word from Our Sponsor . . .

    Today’s StrictlyVC is brought to you by Greenbrier. Its message to readers: Scandal; injury; breach; litigation; presidential tweet. Crises can damage your corporate brand, personal reputation, employee morale and have lasting financial impacts. That’s why you need Greenbrier. We provide crisis planning, strategic advice and tactical execution to clients facing complex image, marketing, branding, media, legal and political challenges. With more than 30 years experience predicting, mitigating, managing and building resilience against reputational risks, Greenbrier can help.

    This Startup Sells Hotel Rooms by the Minute, and JetBlue Just Backed It

    Recharge, a two-year-old, San Francisco-based company whose app enables users to book a stay in a hotel for just 66 cents a minute, is opening in select New York hotels today, after testing its service over the last year in San Francisco.

    The company has also raised an undisclosed amount of funding from JetBlue Technology Ventures, the corporate venture arm of airline JetBlue, which began providing seed funding to early-stage tech, travel, and hospitality startups roughly a year ago.

    Recharge’s earlier investors include Binary Capital, Floodgate, entrepreneur Rick Marini, Eniac VC, Expansion VC, investors Scott and Cyan Banister and early Google engineer Harry Cheung. They’d provided the company with $2.3 million in seed funding as of June of last year.

    Recharge is an interesting startup, one that we’ve half-kiddingly compared in the past with hotels that have long rented rooms by the hour for illicit activities. Given the caliber of the hotels with which it’s partnering, however, it’s seemingly time to rethink its place in the world. In New York, customers can now book rooms at The Pierre, W New York, The Knickerbocker and 1 Hotel Central. In San Francisco, it has struck partnerships with 15 properties, from the downtown Hilton hotel to the five-star hotel Taj Campton Place.

    According to cofounder and CEO Emmanuel Bamfo, Recharge, which has been used by at least 25,000 people to date, has several primary use cases. These include business travelers who may want to freshen up before heading into a meeting; families who might be doing some shopping and dining and need a place to relax; and local commuters who don’t have the time or inclination to ride home between work and evening engagements.

    Recharge’s partnership with JetBlue is purely financial for now, but Bamfo sees a day, too, when airlines use Recharge as a perk to offer for first-class travelers. You can imagine the business traveler whose flight is delayed being given a Recharge voucher, for example.

    According to the 10-person company, the average stay is two hours. Customers of its most expensive hotels pay $3 a minute for the service, money that it shares with the hotel. Bamfo says the revenue split depends on the day and the time and the time of month. (Hotels are always trying to maximize RevPAR, or the revenue pulled in from each available room.)

    More here.

    New Fundings

    Farmdrop, a five-year-old, London-based, farmer-friendly online grocery platform, has raised £7 million (nearly $9 million) in Series A funding led by Atomico. Other backers include SwiftKey CEO Jon Reynolds, Hoopla founder Alex Chesterman, and Asos cofounder Quentin Griffiths. TechCrunch has more here.

    IceKredit, a two-year-old, Shanghai, China-based credit assessment platform that evaluates credit for both individuals and small and mid-size businesses, has raised $16 million in Series A funding led by China Creation Ventures with participation from Lingfeng Capital. China Money Network has more here.

    Improbable Worlds, a five-year-old, London-based virtual reality startup focused on creating hyper-realistic simulations, is reportedly nearly a deal to land backing from Softbank Group. The company had previously raised $20 million in funding, led by Andreessen Horowitz. Bloomberg has more here.

    MJ Freeway, a nearly seven-year-old, Denver, Co.-based company that makes business management software for the cannabis industry, has raised $3 million in fresh Series B funding from earlier backers Roger McNamee and Tao Capital Partners. It brings the previously closed round to $11 million altogether. More here.

    Quora, an eight-year-old, Mountain View, Ca.-based online Q&A site, has raised $85 million in fresh funding at a roughly $1.8 billion valuation. Collaborative Fund and Y Combinator’s Continuity Fund co-led the round. Other investors include Tiger Global Management, Matrix Partners, and Facebook cofounder Dustin Moskovitz. According to Crunchbase, the company has now raised $226 million altogether from investors. TechCrunch has more here.

    Sensoro, a four-year-old, Seattle-based Internet of Things sensor device and network technology company, has raised $18 million in Series B funding from Bosch, Sumitomo and Tsing Capital. More here.

    Shadow Creator, a three-year-old, Shanghai, China-based virtual reality headset device developer, has raised $14 million in Series A funding led by Fortune Capital, with participation from Everest Venture Capital and Initial Venture Capital. China Money Network has more here.

    Sienna Biopharmaceuticals, a year-old, Westlake Village, Ca.-based clinical stage medical dermatology and aesthetics company focused treating inflammatory skin conditions, has raised $40 million in Series B funding led by earlier investors ARCH Venture Partners and Venvest Capital, with participation from Partner Fund Management, Altitude Life Science Ventures, and Fidelity Management & Research Company, among others. More here.

    New Funds

    YI Capital, a three-year-old, Beijing, China-based early-stage venture fund focused on China’s internet-driven “industrial upgrade,” has closed its debut fund with $116 million, reports China Money Network. The firm’s LPs include the home appliance company Joyoung, investment firm Zhongjin Qiyuan, and CITIC Industrial Fund of Funds. YI Capital was founded by two former partners at CDH Investments, Vivian Chen and Li Muqing. More here.

    IPOs

    Biohaven Pharmaceuticals, a four-year-old, New Haven, Ct.-based company that’s developing treatments for neurological diseases and rare disorders, revealed plans this morning to raise $125 million in an IPO by offering 8.3 million shares at between $14 and $16 apiece. The company has raised roughly $100 million from investors, including Venrock and Osage University Partners. Its new filing is here.

    Veritone, a three-year-old, Newport Beach, Ca.-based cognitive software company that has raised roughly $65 million from investors, priced its IPO shares on Friday. The plan: to raise $19 million by offering 1.3 million shares at between $14 and $16 apiece. Backers include Newport Coast Investments and Acacia Research Corp. The Orange County Business Register has more here.

    People

    Apple CEO Tim Cook once personally threatened to kick Uber out of its app store, as revealed in a must-read story about Uber CEO Travis Kalanick in this weekend’s New York Times.

    Alibaba chair Jack Ma says society should prepare for decades of pain as the internet disrupts the economy.

    Looks like serial entrepreneur Elon Musk and actress Amber Heard really want everyone to know they are dating.

    According to proxy adviser Institutional Shareholder Services, the 2016 pay package for IBM CEO Ginni Rometty may exceed a stunning $50 million, a hefty sum for an exec who has reportedly returned less than .1 percent to shareholders over the last five years.

    Essential Reads

    Tesla’s big Model 3 bet is riding on a risky assembly line strategy.

    Is it time to break up Google?

    People are freaking out because email decluttering service Unroll.me sold their data to Uber.

    Sequoia Capital has reportedly sold stakes in eight companies — most from its India-focused funds — for $180 million to a secondaries buyer, reports the Times of India. One of those slivers contained equity in Snapdeal, the India-based online marketplace that’s been battling to fight off Flipkart, Amazon, and other startups looking to eat into its market share.

    Detours

    You really should meditate.

    Retail Therapy

    The best 15 cabernets under $50.

    One hundred board games, discounted today at Amazon.


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