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The Briefing: Public.com Gains $1.2B Valuation, Copado Lands $96M, Fictiv Nabs $35M, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Public.com gets its horn after $220M Series D

Investing social network Public.com is now valued at $1.2 billion following a $220 million Series D investment. Investors in the deal include existing backers Accel, Greycroft and Lakestar, as well as Intuition Capital, Tiger Global, Mantis VC, Dreamers VC, Inspired Capital, Vine Capital Partners, Aglaé Ventures and Phil DeFranco.

This comes two months after the New York-based company raised a $65 million Series C, bringing total funding to date to $310 million.

In addition, the company has amassed 1 million members just 18 months after launching, according to the company. On Feb. 1, Public announced its decision to eliminate Payment for Order Flow (PFOF) from its business model, moving to now collect tips from users in exchange for executing their orders.

The company intends to use the new funding on platform infrastructure, product development and new features that will include crypto, pre- and post-market trading and ways to set up recurring investments, as well as other stock market education features.

— Christine Hall

Spain’s Copado lands $96M for devops platform

Madrid-based Copado, provider of a devops platform for Salesforce users, raised $96 million in a Series B funding round led by Insight Partners and Salesforce Ventures.

The eight-year-old company offers enterprise customers tools to automate or minimize manual tasks, and to get visibility of release pipelines and data flow between environments. Previously, the company had raised around $35 million in known funding, per Crunchbase data.

— Joanna Glasner

Enterprise software

  • Fictiv raises $35M for digital manufacturing: Fictiv, provider of an online platform for designing and manufacturing items, raised $35 million in a Series D round led by 40 North Ventures. The round brings total financing to date for the San Francisco-based company to around $92 million.
  • Peak raises $21M for enterprise AI: Peak, a startup out of Manchester, England that provides software for enterprises to accelerate adoption of artificial intelligence technology, raised $21 million in a Series B round led by Oxx.

Joanna Glasner

Health care

Excision, Nest Collaborative raise rounds: Excision BioTherapeutics, a San Francisco company developing potentially curative CRISPR anti-viral treatments, announced $60 million financing that will go toward clinical trial support of four candidates targeting treatment for viruses such as HIV, herpes and Hepatitis B. GreatPoint Ventures led the round and was joined by a group of existing and new investors. Meanwhile, virtual lactation consultation platform Nest Collaborative brought in $2.1 million in seed funding, led by Altitude Ventures. Other investors participating in the round included Bread and Butter Ventures and Wavemaker 360. This is the Baltimore-based company’s first institutional funding and will enable Nest to scale its team, invest in additional breastfeeding support offerings and increase marketing and partnerships.

— Christine Hall

Transportation

Super73 lands $20M: Lifestyle adventure brand Super73 closed on a $20 million investment from Volition Capital, bringing its total known funding to $29.5 million, according to Crunchbase data. The Irvine, California-based company makes two-wheeled electric vehicles and since 2016, has gained a following from celebrities like Jack Black, Will Smith and Madonna.

— Christine Hall

Energy

Dandelion lands $30M: Dandelion Energy, a home geothermal company, closed on a $30 million Series B round of funding, led by Breakthrough Energy Ventures, to give the Peekskill, New York-based company total funding of $65 million since the company was spun out of Alphabet’s X lab in 2017. This includes a $12 million Series A-1 round in January 2020. Dandelion has developed a virtual sales and design process for its heating and cooling systems, which reduce a home’s carbon emissions by as much as 80 percent and eliminates the need to buy heating fuel, the company said.

— Christine Hall

Fintech and e-commerce

  • Standard Cognition bags $150M: Standard Cognition, providing an autonomous checkout tool that can be installed into retailers’ existing stores, raised $150 million in a Series C round led by SoftBank Vision Fund 2. The San Francisco-based company plans to outfit hundreds of checkout-free stores, with a goal of more than 50,000 stores in the next five years. The global pandemic is driving more contactless payment options. The global contactless payment market was valued at more than $8 billion in 2019, and is expected to grow 15 percent each year, according to Research Corridor.
  • Goldin Auction raises $40M: Collectibles and trading card marketplace Goldin Auctions brought in approximately $40 million in growth financing from The Chernin Group. In addition to the investment, the Runnemede, New Jersey-based company announced Ross Huffman, former chief business officer at Headspace, joined as CEO. In addition to The Chernin Group, backers included a group of notable individuals and firms, including Mark Cuban, Kevin Durant and Chad Hurley.

— Christine Hall

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

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Source: https://news.crunchbase.com/news/briefing-2-17-21/

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Turning Talents Into Tender: West Tenth Bags $1.5M For Women’s Digital Marketplace

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The global pandemic changed the way women thought about their careers, with many choosing to leave their jobs in order to stay home and care for family members.

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West Tenth, a digital marketplace that is helping women turn nontraditional talents into flexible businesses run from home, closed $1.5 million in seed funding led by Better Ventures. Joining the firm was Stand Together Ventures Lab, Kapital Partners, The Community Fund, Backstage Capital, Wedbush Ventures and Gaingels. The funding gives West Tenth $1.75 million in total funding, according to Lyn Johnson, co-founder and CEO.

Johnson and Sara Sparhawk founded the Los Angeles-based company in 2019 after recognizing that many women turn to home-based businesses if traditional employment does not work out.

“We are supportive of women leaving the workforce, but terrible at supporting them on the way back in,” Johnson said. “As a result, women are turning to micro-entrepreneurship. However, it is hard to see all of those microbusinesses. Many are not on Google or Yelp and have to get word of mouth or be on some sort of social media.”

Prior to the pandemic, 28 million women in the United States did not participate in the workforce, Johnson told Crunchbase News. It is estimated that approximately 2.4 million women exited the workforce over the past year, compared with 1.8 million men, according to an NBC News report.

West Tenth app example

West Tenth’s app enables women to monetize their domestic talents, such as baking, photography or home organization, and then connects them with people in their communities who would like to purchase their products or services.

It is free to have a storefront on the app and people can purchase from the platform, with West Tenth collecting a portion of the purchases, Johnson said.

By Sparhawk’s count, there are more than 9 million home-based businesses, so the company will be using the new funds to build out its product team to get the marketplace into more hands, providing education and a community. The company is also spearheading a program called “The Foundry by West Tenth” that will have guest speakers and networking events focused on topics relevant to women, Sparhawk said in an interview.

The company’s marketplace started with 20 businesses and has grown to 600. It primarily operates in Southern California and Salt Lake City, and West Tenth is planning to expand into Boise and Phoenix later this year, but is also accepting new home-based businesses every day from women across the U.S.

Meanwhile, Lyndsey Boucherle, principle at Better Ventures, said in a written statement that the firm likes to back founders that are democratizing access to opportunity and prosperity.

“West Tenth provides a platform and community for women entrepreneurs to build their own businesses, at a time when women have left the workforce in record numbers,” Boucherle added. “We are excited to support their mission to enable these women to turn their skills and talents into successful home-based businesses.”

Feature photo of West Tenth co-founders Lyn Johnson and Sara Sparhawk, as well as app inset photo courtesy of the company.
Blogroll illustration: Li-Anne Dias

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Source: https://news.crunchbase.com/news/turning-talents-into-tender-west-tenth-bags-1-5m-for-womens-digital-marketplace/

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Turning Talents Into Tender: West Tenth Bags $1.5M For Women’s Digital Marketplace

Avatar

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on

The global pandemic changed the way women thought about their careers, with many choosing to leave their jobs in order to stay home and care for family members.

Subscribe to the Crunchbase Daily

West Tenth, a digital marketplace that is helping women turn nontraditional talents into flexible businesses run from home, closed $1.5 million in seed funding led by Better Ventures. Joining the firm was Stand Together Ventures Lab, Kapital Partners, The Community Fund, Backstage Capital, Wedbush Ventures and Gaingels. The funding gives West Tenth $1.75 million in total funding, according to Lyn Johnson, co-founder and CEO.

Johnson and Sara Sparhawk founded the Los Angeles-based company in 2019 after recognizing that many women turn to home-based businesses if traditional employment does not work out.

“We are supportive of women leaving the workforce, but terrible at supporting them on the way back in,” Johnson said. “As a result, women are turning to micro-entrepreneurship. However, it is hard to see all of those microbusinesses. Many are not on Google or Yelp and have to get word of mouth or be on some sort of social media.”

Prior to the pandemic, 28 million women in the United States did not participate in the workforce, Johnson told Crunchbase News. It is estimated that approximately 2.4 million women exited the workforce over the past year, compared with 1.8 million men, according to an NBC News report.

West Tenth app example

West Tenth’s app enables women to monetize their domestic talents, such as baking, photography or home organization, and then connects them with people in their communities who would like to purchase their products or services.

It is free to have a storefront on the app and people can purchase from the platform, with West Tenth collecting a portion of the purchases, Johnson said.

By Sparhawk’s count, there are more than 9 million home-based businesses, so the company will be using the new funds to build out its product team to get the marketplace into more hands, providing education and a community. The company is also spearheading a program called “The Foundry by West Tenth” that will have guest speakers and networking events focused on topics relevant to women, Sparhawk said in an interview.

The company’s marketplace started with 20 businesses and has grown to 600. It primarily operates in Southern California and Salt Lake City, and West Tenth is planning to expand into Boise and Phoenix later this year, but is also accepting new home-based businesses every day from women across the U.S.

Meanwhile, Lyndsey Boucherle, principle at Better Ventures, said in a written statement that the firm likes to back founders that are democratizing access to opportunity and prosperity.

“West Tenth provides a platform and community for women entrepreneurs to build their own businesses, at a time when women have left the workforce in record numbers,” Boucherle added. “We are excited to support their mission to enable these women to turn their skills and talents into successful home-based businesses.”

Feature photo of West Tenth co-founders Lyn Johnson and Sara Sparhawk, as well as app inset photo courtesy of the company.
Blogroll illustration: Li-Anne Dias

Checkout PrimeXBT
Source: https://news.crunchbase.com/news/turning-talents-into-tender-west-tenth-bags-1-5m-for-womens-digital-marketplace/

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Start Ups

Turning Talents Into Tender: West Tenth Bags $1.5M For Women’s Digital Marketplace

Avatar

Published

on

The global pandemic changed the way women thought about their careers, with many choosing to leave their jobs in order to stay home and care for family members.

Subscribe to the Crunchbase Daily

West Tenth, a digital marketplace that is helping women turn nontraditional talents into flexible businesses run from home, closed $1.5 million in seed funding led by Better Ventures. Joining the firm was Stand Together Ventures Lab, Kapital Partners, The Community Fund, Backstage Capital, Wedbush Ventures and Gaingels. The funding gives West Tenth $1.75 million in total funding, according to Lyn Johnson, co-founder and CEO.

Johnson and Sara Sparhawk founded the Los Angeles-based company in 2019 after recognizing that many women turn to home-based businesses if traditional employment does not work out.

“We are supportive of women leaving the workforce, but terrible at supporting them on the way back in,” Johnson said. “As a result, women are turning to micro-entrepreneurship. However, it is hard to see all of those microbusinesses. Many are not on Google or Yelp and have to get word of mouth or be on some sort of social media.”

Prior to the pandemic, 28 million women in the United States did not participate in the workforce, Johnson told Crunchbase News. It is estimated that approximately 2.4 million women exited the workforce over the past year, compared with 1.8 million men, according to an NBC News report.

West Tenth app example

West Tenth’s app enables women to monetize their domestic talents, such as baking, photography or home organization, and then connects them with people in their communities who would like to purchase their products or services.

It is free to have a storefront on the app and people can purchase from the platform, with West Tenth collecting a portion of the purchases, Johnson said.

By Sparhawk’s count, there are more than 9 million home-based businesses, so the company will be using the new funds to build out its product team to get the marketplace into more hands, providing education and a community. The company is also spearheading a program called “The Foundry by West Tenth” that will have guest speakers and networking events focused on topics relevant to women, Sparhawk said in an interview.

The company’s marketplace started with 20 businesses and has grown to 600. It primarily operates in Southern California and Salt Lake City, and West Tenth is planning to expand into Boise and Phoenix later this year, but is also accepting new home-based businesses every day from women across the U.S.

Meanwhile, Lyndsey Boucherle, principle at Better Ventures, said in a written statement that the firm likes to back founders that are democratizing access to opportunity and prosperity.

“West Tenth provides a platform and community for women entrepreneurs to build their own businesses, at a time when women have left the workforce in record numbers,” Boucherle added. “We are excited to support their mission to enable these women to turn their skills and talents into successful home-based businesses.”

Feature photo of West Tenth co-founders Lyn Johnson and Sara Sparhawk, as well as app inset photo courtesy of the company.
Blogroll illustration: Li-Anne Dias

Checkout PrimeXBT
Source: https://news.crunchbase.com/news/turning-talents-into-tender-west-tenth-bags-1-5m-for-womens-digital-marketplace/

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After $31M Raise, Nuvolo Eyes IPO As Early As 2023

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Nuvolo expects to significantly scale the company after closing a $31 million Series C, looking to hit $100 million in annual recurring revenue by late 2022 and possibly the public market the following year.

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“We plan to use the proceeds to drive this business to $100 million in ARR, a couple billion in valuation, and eventually liquidity in the public market,” said founder and CEO Tom Stanford.

Insight Partners led the Series C raise for the Paramus, New Jersey-based workplace services company. Other investors in the round include New Enterprise Associates, Kaiser Permanente Ventures and Revelation Partners.

“Nuvolo is exactly the kind of company we partner with,” said Henry Frankievich, principal at Insight Partners. “They have a great product with a huge market. Nuvolo is in that very exciting growth stage.”

The platform

Nuvolo’s integrated workplace management systems (IWMS) platform is built on top of ServiceNow and allows customers to manage their operations through one unified platform. Companies often use a variety of systems to manage things like real estate, operational technology, facilities and other assets. Nuvolo lets companies use just one cloud-native platform and consolidate down to one system of record, Stanford said.

In addition, Nuvolo also layers on operational technology security capabilities, letting customers such as health care providers know if medical equipment or other physical assets may be at risk of failing and proactively safeguard them.

While the company faces large competitors in the IWMS market such as IBM Maximo and Tango, Stanford said Nuvolo’s added security layer and cloud-native platform helps differentiate it in the market.

Growth ahead

Nuvolo plans to leverage its partnership with Insight to significantly grow the company in the years ahead, Stanford said. The 300-person company plans on 65 percent to 70 percent growth the next two to three years, hitting $100 million ARR by late next year, Stanford said.

While Nuvolo has customers in several categories, Stanford said life sciences and health care are the company’s largest verticals. Nuvolo currently works with more than 1,550 customers, and has a footprint in 65 percent of U.S. hospitals.

With Nuvolo’s platform expanding beyond the normal IWMS scope and into modern field service management and cybersecurity, Frankievich said, there is significant potential to expand in these large, fast-growing markets.

Stanford has no doubt that could set the company up for an IPO by 2023.

“We love ourselves as an independent company,” he said.

Illustration: Li-Anne Dias.

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Source: https://news.crunchbase.com/news/after-31m-raise-nuvolo-eyes-ipo-as-early-as-2023/

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