July in Funding Rounds
With the UK easing lockdown, it’s time to take a look at companies who won’t be easing on their recruitment. We’ve collected the biggest funding rounds in the technology and financial services sectors from the last month to help make finding your next deal (and keeping track of what month it is) that little bit easier.
Bonn, Germany-based enterprise architecture start-up LeanIX has raised $80m in Series D funding, bringing the total raised since its founding in 2012 to $120m. With a second office in Germany and further offices in the Netherlands, Massachusetts and India, LeanIX offers a SaaS Enterprise Architecture Management solution which companies can use as an information hub for their IT architecture.
This latest round comes as LeanIX looks to strengthen its position as an enterprise architecture leader. The start-up has stated that the latest funding will be used to support its general international growth plans, as well as to continue its development of complementary cloud governance solutions.
Payments and working capital management fintech Taulia has raised $60m in an investment round led by the fintech investment arm of Ping An Insurance, with participation from J.P. Morgan and the venture arm of Saudi Aramco. Headquartered in San Francisco, Taulia also has European offices in London, Dusseldorf, Zurich and Sofia, an APAC base in Sydney, and further US offices in Salt Lake City, Austin and New Orleans.
With general plans to use the funding to support its global expansion and product development, including the development of new products, Taulia is eyeing continued growth. Its backers in this latest investment will go a long way in aiding this, as Ping An and Saudi Aramco help to strengthen Taulia’s presence in the Middle East and China.
Robotic process automation platform UiPath has raised $225m in Series E funding, sending its valuation past the $10bn mark. Based out of New York, UiPath already has an international presence with 12 offices in North America, two in South America, 19 across the EMEA region, and a further 19 in the APAC region.
UiPath, which has raised more than $1bn in funding to-date, uses artificial intelligence to build bots which observe user workflows in applications to deduce repetitive processes which can be automated. As interest grows for its solutions following COVID-19, UiPath plans to use some of the funding to position the company for a future IPO, as it looks to become cash-flow-positive by the end of the year.
Despite recently experiencing service disruptions and facing criticism for allowing inexperienced investors to make high-risk bets on the stock market, COVID-19 has seen Robinhood’s usage skyrocket. In March alone, Robinhood’s average customer trading volume tripled. This latest round of funding indicates that investors expect Robinhood to continue its growth trajectory.
Pricefx, a Germany-based automated pricing optimisation software firm, has raised $65m in its latest round of funding. With additional offices in the Czech Republic, Switzerland, Australia and the US, Pricefx has around 270 employees.
Pricefx has ambitious plans for its latest funding with global expansion, M&A opportunities, accelerated product development and the extension of its partner ecosystem all on the books. Hiring across all teams and locations should be expected as Pricefx sets its sights on growth.
Bellevue, Washington-based identity management platform Auth0 has raised $120m in a Series F funding round led by Salesforce Ventures. The round brings the company’s valuation to $1.92bn and total capital raised to $330m, and follows a year after its $103m Series E funding round.
Auth0 plans to use the funds to fuel its innovation and go-to-market expansion, in response to a growing global need for a secure identity management platform as companies continue to look to transform their digital presence in the wake of the pandemic.
SocialChorus, a communications Software-as-a-Service firm, has raised $100m in its latest round of funding, which was led by Sumeru Equity Partners. Based in San Francisco, SocialChorus also has offices in New York and London.
The firm, which saw 50% year-over-year growth in both 2018 and 2019, plans to use the funding to accelerate its operational growth and product innovation. SocialChorus’ main product is a workforce communications platform which allows companies to automatically contact employees and measure the impact across all channels.
Palo Alto, California-based Hippo Insurance has reached a valuation of $1.5bn after closing a $150m Series E funding round. The round follows 12 months of growth, with total written premiums increasing to $270m and year-on-year growth at 140%.
The insurtech has stated it will be putting the late-stage funding toward an aggressive hiring plan for its headquarters and offices in Austin and Dallas, Texas. With the proposed acquisition of a national insurance carrier also in its pipeline, Hippo is not only planning for organic growth.
Digital wealth manager start-up Scalable Capital has raised €50m in Series D funding, bringing the firm’s total funding to-date up to €116m. The funding round was made at a post-money valuation of €400m.
Based in Munich, the wealth manager plans to use its latest funding to strengthen its presence, develop its offering and increase its customers in Germany, Austria and the UK, as well as potentially expanding its services to more countries in Europe.
London-based Selina Finance has raised $53m (£42m) in its latest round of funding, as a mixture of equity and debt financing. The firm, which provides loans to SMEs in the form of flexible credit facilities, is in the process of gaining a licence to expand its offering to consumer borrowers also.
The lender plans to use the funding to expand its presence in the UK and begin the process of extending its reach to other markets in Europe. Selina also plans to raise significantly more debt over the coming months to continue to support its expansion.
Interactive SaaS design technology firm Ceros has received $100m in a strategic investment led by Sumeru Equity Partners. Ceros offers a cloud-based design platform that enables publishers and brands to create interactive content without the need for coding.
Based in New York, the firm plans to use the funding and the strategic backing of Sumeru Equity Partners to continue its current growth momentum in a time of increased interest in digital content creation, which has seen some of Ceros’ customers doubling their creative run rates.
Bitcoin Suisse, a Zug-based digital asset broker, has raised just under $50m (CHF 45m) through investment from private investors, business partners and clients. The round brings the broker’s valuation to around $330m (CHF 300m).
With dreams of becoming Europe’s first unicorn in the digital asset industry, Bitcoin Suisse will be putting this latest round of funding toward positioning the company for a security token offering (STO) and a public stock listing.
The UK’s most valuable consumer fintech firm, Revolut, has raised a further $80m in an extended Series D funding round, in addition to the $500m raised earlier this year. The new funding comes from TSG, a Silicon Valley private equity firm.
Revolut has said it will use the investment to accelerate the European rollout of its banking products, including full bank accounts and lending services, as well as supporting the development of its US arm and the debut of new US product lines.
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