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J.C. Flowers leads $92.2 mln Series C for KreditechKreditech said Monday that it raised 82.5 million euros (US$92.2 million) in Series C financing led by J.C. Flowers & Co. LLC. Peter Thiel and Amadeus Capital Partners invested earlier this year in a bridge loan that has now fully converted into Series C equity. Existing shareholders Värde Partners, HPE Growth Capital and Blumberg Capital also participated in the round. Hamburg, Germany-based Kreditech is a consumer finance technology company. The company said it is in advanced discussions for a final close that could boost the Series C to over 100 million euros. Jefferies and Berenberg acted as financial advisors on the transaction.
- CoverHound scores $33.3 mln Series C
San Francisco-based CoverHound, a digital platform for comparing and buying insurance, has secured $33.3 million in Series C funding. ACE Group led the round with participation from return backers RRE Ventures, Blumberg Capital, Core Innovation Capital, Route 66 Ventures and American Family Ventures.
- Fundbox raises another $50 mln
Fundbox said Thursday it has raised an additional $50 million in equity funding led by new investor Spark Capital Growth with participation from Bezos Expeditions (the personal investment arm of Jeff Bezos), Ashton Kutcher and Guy Oseary's Sound Ventures and Entrée Capital. Existing investors, including Khosla Ventures, General Catalyst Partners, Shlomo Kramer, and Blumberg Capital, also participated. San Francisco-based Fundbox, a cash flow optimization tool for small businesses, raised $40 million in Series B funding in March.
- Blumberg Capital and Nick and Joe Jonas back alcohol delivery service Saucey
Los Angeles-based alcohol delivery platform Saucey has secured $4.5 million in seed funding. Blumberg Capital led the round with participation from other investors that included Structure Capital, Altpoint Ventures, T5 Capital, HashTagOne, Scooter Braun, Phil MacIntyre and Nick and Joe Jonas.
- Blumberg, RPM Ventures lead $6 mln funding in Able
Blumberg Capital and RPM Ventures led a $6 million Series A funding round in Able, which provides loans and connects small businesses into a network of borrowers. Other investors in the funding include Peterson Partners and Expansion Ventures AngelList Syndicate.
- Yotpo scores $15 mln in Marker-led round
Customer content marketing platform Yotpo has closed $15 million in funding. Marker LLC led the round with participation from other investors that included Innovation Endeavors, Vintage Investment Partners, Blumberg Capital and Access Industries. Also, the company has appointed former GoDaddy CEO Warren Adelman to its board.
Breaking through the ice: How Canada’s narwhal club was bornCanada has four companies that have achieved billion-dollar valuations, and many more are nearing the list
- Mayfield leads funding of Arcadia Data
San Mateo, Calif.-based Arcadia Data has come out of stealth and announced its has raised $11.5 million in Series A funding led by the Mayfield Fund. Blumberg Capital and Intel Capital also invested in the company, which provides a business intelligence platform for big data.
In search of narwhals: A word from VCJ's editorIn Canada, much like the United States, the talk lately in venture and startup circles is about young tech startups that have reached at least $1 billion in value, writes Venture Capital Journal editor Alastair Goldfisher. Up north, the term some are using for these fast-growing companies is narwhals, which are known as "the Unicorn of the Sea." In fact, Canada is flush with companies and emerging narwhals.
Editor's letter: In search of narwhalsThe rise of billion-dollar startups is happening up north, too. Some Canadians just call them something different.