Funding Watch – 8/05/2020
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.
Stash Invest, a New York-based banking and investment fintech, has raised $112m in a Series F funding round led by LendingTree. Stash operates as a beginner’s investment platform which allows customers to invest incrementally, while also offering personal finance management services.
Stash has earmarked some of its latest funding for expanding its customer base, marketing operations, and adding new services to its current offering. Reportedly one of the fastest growing banking and investing services in the US, Stash saw a 100% increase in weekly customer deposits in the last quarter, despite the economic downturn. Potentially one of the few businesses to see growth during the pandemic, reaching out to Stash now could see you making deals all the way through COVID-19.
New York-based AI software firm ASAPP has raised $185m in Series B funding, reportedly valuing the company at over $800m. With just over 300 employees, ASAPP also has two offices in the San Francisco Bay Area, a further office in New York State, and offices in Raleigh, North Carolina, London, and Buenos Aires.
This latest round comes as ASAPP sees increased demand for its call centre analysis software as COVID-19 disruption pushes up call centre volumes. Despite the increased demand for its services, ASAPP hasn’t stated any specific plans for the funding, but you can expect that with increased customer demand, comes an increased demand for staff. And that’s where you could be winning deals.
Carpinteria, California-based construction management software firm Procore Technologies has raised $150m in new funding, following the decision to postpone its initial public offering due to COVID-19 disruption. The firm has a global presence, with three additional offices in California, two in New York City, and further offices in Austin, Portland, London, Mexico City, Sydney, Toronto, and Vancouver.
Following an impressive year of growth from 2018 to 2019, which saw its headcount increase by 600 and revenue to surge by over 55%, Procore has raised this latest round at a $5bn valuation. Though its IPO plans are currently postponed, Procore is reportedly still planning on going public this year, if the markets stabilise. Building a relationship now could see you reaping the rewards of its IPO, as well as this latest funding.
Investment app Robinhood has raised $280m in Series C funding, increasing its valuation to $8.3bn. Sequoia Capital led the round, joined by returning investors like NEA and Ribbit Capital. The funding follows a year of growth for Robinhood, which saw its customer base increase by three million.
Robinhood has stated that some of the funding will go towards improving its app’s infrastructure, following a number of issues over the last few months. It can be expected that a lot of the remaining funding will go towards the general strengthening of its business and expansion of its product, both in terms of development and market. Robinhood could be a global tech recruiter’s best friend through the pandemic.
In the last of our funding rounds this week, mobile challenger bank N26 has raised $100m in an extension to its January 2019 Series D funding round, bringing the round to a combined total of $570m. Based in Berlin, N26 also has bases in New York, Barcelona, and Vienna.
While N26 has stressed that this latest round of funding is not due to pressures from COVID-19 disruption, the bank is reportedly reviewing its spending given the current economic downturn. Despite this, it has stated that it is still committed to plans for expansion, including a focus on the US and plans to launch in Brazil, which it identifies as a large opportunity. Reaching out now could see you supporting N26 when it begins to push for global expansion.
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