North America

SpringWorks Therapeutics grabs $125 mln Series B

Stamford, Connecticut-based SpringWorks Therapeutics Inc, a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, has raised $125 million in Series B financing. Perceptive Advisors led the round.

Women's health tech startup NextGen Jane locks in $9 mln Series A

Women's health tech startup NextGen Jane has secured $9 million in Series A funding. Material Impact led the round with participation from other backers that included Access Industries, Viking Global Investors and Liminal Ventures.

AudioConexus secures mezz financing from BDC Capital

AudioConexus, a Kingston, Ontario-based tourism technology company, has raised undisclosed mezzanine financing from BDC Capital. BDC invested through its Growth and Transition Capital group. Founded in 2006, AudioConexus produces software, hardware and multilingual content for automated GPS tours and audio guides. More than 30 million people each year listen to the company's audio tours. Led by President and CEO Jonathan Stanley, AudioConexus will use the proceeds for working capital, building inventory for its new multimedia tour system Navilution, expanding in Europe, and adding to the management team.

Diligence from day one: best practices for startups to engage investors or acquirers

Any time a startup is reticent or delayed in providing critical information to investors or prospective acquirers, the perception of that company may be diminished. Losing momentum during this period can have a real impact on closing the deal; luckily, this can be avoided and preparedness can be accomplished with a little forethought and consistency, writes Scott Munro, a venture partner at Inovia Capital. In a PE Hub Canada feature, Munro provides some best practices that allow an organization, at any point in time, to be prepared for and exhibit high quality expertise to any externally interested party, be it an investor or potential buyer.

Medical device software company Fifth Eye snags $11.5 mln Series A

Ann Arbor, Michigan-based Fifth Eye, a medical device software company, has secured $11.5 million in Series A funding. Arboretum Ventures and Cultivation Capital led the round.

CollegeVine lands $24 mln Series B

Cambridge, Massachusetts-based CollegeVine, a provider of high school guidance and college admissions advising, has secured $24 million in Series B funding. The investors were Maywood Street Investments, Fidelity Investments, Morningside Technology Ventures and University Ventures.

Restaurant management platform Toast inks $250 mln Series E

Boston-based Toast, a restaurant management platform in North America, has raised $250 million in Series E funding. TCV and Tiger Global Management led the round with participation from other investors that included Bessemer Venture Partners, Lead Edge Capital and T. Rowe Price Associates Inc.

Karuna Therapeutics nabs $12 mln, raising Series B to $80 mln

Karuna Therapeutics has raised an additional $12 million for its Series B round, bringing the total to $80 million. The new investor is Sofinnova Investments. Karuna focuses on targeting muscarinic cholinergic receptors for the treatment of neuropsychiatric disorders.

Banking startup Novo picks up $4.8 mln seed

New York City-based banking startup Novo has raised $4.8 million in seed funding. The investors included Crosslink Capital, Red Sea Ventures, RRE and Hack VC.

Betaworks targets $75 mln for sophomore fund

Betaworks Ventures is seeking to raise $75 million for its second fund, according to an SEC filing. Based in New York City and San Francisco, Betaworks is a product-focused, seed-stage venture firm.