Funding Watch – 13/05/2020
Here at Talent Ticker, we’re all about removing some of the stress from recruiters’ lives. With everyone on lockdown and companies battening down the hatches, a recruiter’s job is harder than ever at the moment. That’s why we’ve collected the largest funding rounds from the last week which you may have missed into one list, to help make finding your next deal that little bit easier.
Cockroach Labs, a New York-based SQL database firm, has raised $86.6m in Series D funding, bringing its total funding to $195m. The company’s main product, CockroachDB, is an SQL database which allows businesses to store and scale transactional data in the cloud.
Cockroach Labs has earmarked a portion of its latest round for product development, and strengthening its engineering and marketing teams. The company states it has seen a year-on-year commercial customer growth of 295%, with a first-year customer renewal rate of over 90%. With flexibility of location for some of its roles and funding to expand its team, reaching out to Cockroach Labs now could see you making deals all the way through COVID-19.
San Francisco-based mobile market intelligence solutions firm Sensor Tower has received $45m in investment through a strategic partnership with private equity firm Riverwood Capital. With additional offices in London, Shanghai, and Seoul, Sensor Tower also has staff in more regional locations.
This latest round marks the first time Sensor Tower has taken on investment since its 2013 seed round, where it raised $1m. With the operational support of Riverwood Capital, as well as its financial backing, you can expect to see Sensor Tower recruiting for many roles outside of the service offering and product innovation it’s earmarked this funding for.
Berkeley, California-based AI robotics start-up Covariant has raised $40m in a Series B round led by Index Ventures and Radical Ventures. Started in 2017 under the name Embodied Intelligence, Covariant is building a universal AI which allows robots to see, reason, and act.
Having launched from stealth in January with a slew of customers already onboarded, Covariant plans to use its latest funding to move into new industries, accelerate current and future partnerships, and expand its team. Building a relationship now could see you making placements across Covariant’s growing teams.
Business spend management and revenue management solutions provider Corcentric has received an $80m minority investment from growth-equity firm Bregal Sagemount. Based in Cherry Hill, New Jersey, Corcentric also has offices in New York, Fort Lauderdale, and McLean, Virginia.
Corcentric has stated that some of the funding will be used to support product innovation and solution integration for its procurement, accounts payable, and accounts receivable solutions. It can be expected that a lot of the remaining funding will go towards strengthening the firm’s business and teams, making them a fintech recruiter’s best friend through the pandemic.
In the last of our funding rounds this week, over-55s-focused credit broker free2 has raised £105m through debt funding, with NatWest Markets providing up to £200m in an additional securitisation facility designed to assist free2 in funding new customer loans. The firm has its headquarters in London.
Ahead of its official launch in June, free2 has stated that some of the funding will be used to ensure its lending product and services are ready for the public. The broker’s long-term plan is to provide a diverse suite of products to the over-55s markets – reaching out now could see you helping to build free2’s teams as it expands its scope.
Looking for more companies to reach out to? Let us save you time. You can find even more daily leads on Talent Ticker to help you through the COVID-19 drought. Make sure to set up notifications for saved searches in your area, so you never miss a lead.
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