Category: Press Release

Candex Raises $3.5 Million To Conquer The Pain Of Enterprise Payments

SAN FRANCISCO, March 23, 2018 — Candex, the simplest way businesses engage, track and pay for high volume services, has raised $3.5 million of series seed funding from Edenred Capital Partners, Partech Ventures, Advisors.Fund, Camp One Ventures, NFX, Tekton Ventures, Big Sur Ventures and fintech angel Mark Goines. The financing positions Candex to accelerate its business in Fortune 500 customers and beyond.

Companies are taking advantage of the gig economy and using more vendors than ever to compete and stay nimble. In the typical large enterprise organization, admin layers across departments inefficiently cope with the 90 percent of tail service vendors that account for only five percent of spend. Sometimes the administrative costs exceed what is actually paid.
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Everledger Closes US$10.4M in Series A Funding Round

Everledger, a London, UK-based developer of real-world applications based on emerging technologies, closed US$10.4m in Series A funding round.

Toronto-based investment banking firm GMP Securities co-ordinated the round with lead investor, the Canadian arm of Fidelity Investments. Participants in the round included Vickers Ventures Partners, Graphene Venture Capital, and existing investors Tekton Ventures, FPV, Fenbushi, Bloomberg Beta, and Rakuten. In conjunction with the funding, Dr. Finian Tan, currently the chairman of Vickers Venture Partners, joined Everledger’s Board.

The company will use the funds to continue to develop its platform and expand its business reach.

Led by Founder & CEO Leanne Kemp, Everledger is a technology enterprise that tracks the provenance of high-value assets on a global digital ledger. Using blockchain, the company provides stakeholders across supply chains with an immutable history of an asset’s authenticity, existence and ownership. Everledger started off with tracking diamonds and currently has the provenance of over 2 million diamonds cryptographically-certified on the blockchain. This tech solution has since expanded into the world of coloured gemstones, jewellery, fine wine and art, among other industries.
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Grabr Gets $8M to Connect Travelers with Luggage Space

grabr team

You might get to actually save money while you’re traveling if you just leave some free space in your bag — or not pay for that travel at all — if Daria Rebenok’s plan plays out.

As avid travelers, and ones longing for products from home they can’t get abroad, she and Artem Fedyaev decided to start Grabr to work on exactly this problem. While you might not be able to get those products you’d find everywhere on shelves in a foreign country on Amazon, or anywhere else online for whatever reason, there are people traveling to and from those countries all the time. Grabr  serves to connect those travelers that have a few square inches or feet in their bags, tasking them with bringing back those products abroad for a fee. Grabr today said it has raised a new $8 million financing round led by Foundation Capital, as well as some additional investors we’ll add at the bottom.
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Bug Bounty Startup Bugcrowd Raises $26 Million

Bug Bounty Startup Bugcrowd Raises $26 Million
By ROBERT HACKETT 

In 2011, Patrick Webster, a security researcher, notified an Australian pension fund manager of a glaring flaw in its website that allowed him to access people’s personal information. The firm, First State Superannuation, returned the favor by sending the police to his home and threatening to sue him.

The incident was a disaster—a masterclass in how not to treat vulnerability researchers. First State Super eventually backed down and thanked Webster, but not before catching considerable flak for its handling of the affair.

Now First State Super has signed on as an investor in Bugcrowd, a San Francisco-based startup that runs bug bounty programs for businesses. The new round of fundraising, led by venture capital firm Triangle Peak Partners, is worth $26 million.
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May Mobility Raises $11.5 Million to Deploy Self-Driving Shuttle Fleets

may_rearquarter

Michigan -based startup May Mobility, which is trying to swap out current transportation options for corporate and other clients with self-driving small shuttles, has raised $11.5 million in sed funding from investors including BMW i Ventures and Toyota AI Ventures, along with existing investors. The round comes just about a year into the company’s launch, and 2018 will also see May Mobility launch its first commercial operations in the later law of the year.

May Mobility has a team that includes DARPA Urban Challenge participants, as well as vets of Ford, GM, and Toyota as well as the University of Michigan’s automotive engineering programs. The company’s goal has been to provide self-driving solutions that are practical on real routes today, using technology currently available, with defined shuttle paths. It’s also aiming to offer commercial benefit to clients by managing the fleet service from end-to-end, including vehicle maintenance and operation the shuttles on a daily basis.
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Signifyd Raises $56 Million for E-commerce Fraud Protection

E-commerce fraud is a growing problem, but Signifyd thinks it has a solution to save businesses money.

Their company is growing fast and has closed a $56 million Series C investment led by Bain Capital Ventures. Menlo Ventures and American Express also participated in the round. 

Signifyd counts big clients like Jet.com, Peet’s Coffee and Lacoste, where it uses its pattern recognition technology to warn them upfront about potential fraudulent charges. Signifyd is so confident in its assessments that it offers the companies a guarantee, so they don’t have to pay for errors.

The product “protects the merchants so they don’t have to bear the liability,” said co-founder and CEO Rajesh Ramanand. The team has been developing a “machine learning platform that makes these decision in real-time.”
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FretLink Raises $6.4 Million to Make Trucks Run Like Clockwork

Don’t you love it when there’s a fragmented market with many different actors and outdated tech products? French startup FretLink is using all the tips in the startup handbook and applying them to a neglected industry — the trucking industry.

FretLink is a software-as-a-service marketplace connecting thousands of transportation companies with companies that need to send big piles of stuff. And the startup just raised $6.4 million (€6 million) from Daphni, Tekton Ventures, Elaia Partners and Breega Capital.

If you’re like me, you don’t know much about the transportation industry. Sure, you know the names of a few big logistics companies that bring you your Amazon packages. But it’s a bit more mysterious if you think about the pallets that move from one warehouse to another.
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Korea’s Top Financial Services Startup Lands $48M From PayPal and Others


Viva Republic, the company behind Korean financial services app Toss, has closed a $48 million Series C funding round which includes a strategic investment from payment giant PayPal.

The deal is PayPal’s second investment this year — coming just days after it backed health startup Virta — but the round was led by San Mateo-based VC firm Goodwater Capital, which led Viva Republica’s Series B round and counts Korean tech giants Kakao (messaging) and Coupang (e-commerce) among its portfolio. Bessemer Venture Partners, Altos Ventures, Tekton Ventures and Partech Ventures also participated in the round.
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Flower Delivery Startup The Bouqs Raises $24 Million


There’s a field full of flower delivery services to choose from these days from the old school 1-800-flowers and FTD to startups popping up over the last few years like BloomThat, Farmgirl Flowers, UrbanStems and The Bouqs.

That last one just raised $24 million in Series C financing, bringing the total now to $43 million. The Bouqs doesn’t quite roll off the tongue but that fresh new funding puts it at the top of the heap in capital raised among on-demand flower startups.

Like its competitors, the Los Angeles-based outfit delivers Pinterest-worthy bouquets at the click of a button. The difference being The Bouqs gets its supply directly from the farm, cutting out costs from middlemen and bringing you flowers that last longer.

The financing was led by new investor Partech Ventures. Other newbies to the round include Tekton Ventures, NextEquity Partners and Reimagined Ventures. Existing investors Azure Capital Partners, KEC Ventures, Quest Venture Partners, and Shark Tank’s Robert Herjavec (who first laughed at the valuation during The Bouqs initial presentation to the Sharks, by the way. So, entrepreneurs, don’t give up hope!).

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Cuvva Launches Pay-As-You-Go Car Insurance With New Funding



Cuvva, the Scottish startup that reckons it’s spotted a gap in the market by offering hourly car insurance sold through a mobile app, is set to launch a novel and potentially disruptive new type of car insurance designed for infrequent drivers.

It’s well known that many people who own a car drive it less and less these days, especially those who live in a city, and yet conventional car insurance does a relatively poor job of reflecting this in the premiums we pay…

…Cuvva is announcing £1.5 million in new funding, in a round led by LocalGlobe, the VC fund founded by father and son duo Robin and Saul Klein.

The startup’s other backers include Tekton Ventures, Techstars Ventures, Seedcamp, Nick Hungerford (founder of Nutmeg) and Ian Hogarth (founder of SongKick). Cuvva has raised £2 million since being founded in late 2014.
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Drone Delivery Startup Flirtey Raises $16 Million

Drone delivery startup Flirtey has raised $16 million in Series A funding to bring its high-flying service to new customers, companies and possibly countries. Earlier, the startup raised $120,000 in seed funding and participated in the Y Combinator accelerator. Flirtey was also the first company to attain FAA approvals to conduct a drone delivery in the US in 2015. That fact helped it land one of its drones in the Smithsonian’s National Air and Space Museum, a milestone that CEO Matthew Sweeny calls a “kittyhawk” moment for the startup.

Flirtey’s Series A round was led by the company’s seed investors, Menlo Ventures and Qualcomm Ventures, and joined by Tekton Ventures, Chris Sacca’s Lowercase Capital, Y Combinator and World Innovation Lab, a firm that counts among its limited partners the Japanese airline ANA, Goodwater Capital, Amity Ventures and Partech Ventures.

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Memebox Announces Series C Extension of $60M

Customers browse at Memebox's San Francisco holiday pop-up shop.
This announcement caps off a record year of growth for the company, which recently welcomed Laura Mercier founder and former CEO Janet Gurwitch to its Advisory Board

SAN FRANCISCO, Dec. 15, 2016 /PRNewswire/ — Today, Memebox announced it had raised $60M in a Series C extension round. Led by new and existing investors including Goodwater Capital, Altos Ventures, Tekton Ventures, Cowboy Ventures, Mousse Partners, Formation Group, Funders Club, Pear Ventures, Cota Capital and Janet Gurwitch, the round is an extension of the $66M the company raised in its initial Series C. The round brings the company to $160M raised since it was founded in 2012.

The additional investment will allow Memebox to continue to invest in streamlining its mobile shopping experience, develop a database of beauty ingredients and products, and build out its global operations for efficiency as the company grows its global footprint. 

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Hyperloop One Raises $50 Million, Hires Former Uber CFO

Image result for hyperloop one dubai
Hyperloop Technologies Inc., a Los Angeles-based company building a futuristic transportation system, said it raised $50 million in convertible-debt financing and hired Uber Technologies Inc.’s former chief financial officer.

DP World Group of Dubai, one of the world’s largest ports operators, led the funding round, with its chairman and chief executive officer Sultan Ahmed bin Sulayem taking a Hyperloop board seat. The company, known as Hyperloop One, has now raised $160 million. CEO Rob Lloyd, a former Cisco Systems Inc. executive, has made finding a chief financial officer and new strategic partners top priorities since joining the company last year. Hyperloop One already works with organizations such as French railway SNCF and engineering giant Arup Group.

The new hire, former Uber CFO Brent Callinicos, will serve as a full-time strategic adviser, the company said in a statement. Previously, he worked as vice president, treasurer, and chief accountant at Google, and also held various roles in finance at Microsoft Corp.
Uber and Hyperloop share an investor in Sherpa Capital’s Shervin Pishevar, who co-founded Hyperloop and is a board observer at Uber.

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TapFwd Raises $3 Million, Rolls Out Mobile Data Marketplace

tapfwd
TapFwd, a mobile data marketplace founded by two LiveRamp vets, raised a $3 million seed round led by Partech Ventures with participation from previous investor Tekton Ventures.

TapFwd matches online and offline data sets to mobile device IDs and then sells these data sets to help advertisers target campaigns. The rough analogy is “a BlueKai built from the ground up for mobile,” said TapFwd CEO Alex Wasserman.

By including data that marketers want to use for targeting, such as automotive, financial, purchase history and demographic data sets, TapFwd plans to accelerate the use of mobile as a platform for brand advertising, not just performance advertising.

“Person-level targeting in desktop has been around for awhile, but on mobile it hasn’t been around except for Facebook,” Wasserman said.

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Gfycat Raises $10 Million to Help Creatives Fire Up the Memes


A startup called Gfycat (which is pronounced “Jiffy Cat”) has raised a mammoth $10 million seed round to turn its already popular user-generated content platform into a revenue generating concern.

On the content creation side of its business, the startup reports that 2.5 million unique users have already created 25 million “Gfycats,” or short, silent, looping animations and video clips.

Gfycat also boasts 75 million monthly active users on the viewer side of its platform, who watch 1.5 billion user-generated GIFs and clips there per month.

CEO and founder Richard Rabbat said the clips are not technically the same as GIFS. Technically, the company’s site is a Webm host that lets people convert videos into short-form, shareable, looping and fast-loading clips.

“My cofounders and I were avid GIF creators but just found them hard to make, slow to upload, and when you shared them, the quality wasn’t very good. We wanted to make it easier to upload a video, say this is the part I want to turn into a GIF and then to share it,” he explained.

Gfycat is already ranked as a top 100 site in the U.S. by Alexa, however it is not yet generating revenue. A repeat media entrepreneur, Rabbat started the company formally with Dan McEleney and Jeff Harris in 2015.

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Signifyd Raises $19 Million to Help Fight Online Fraud


Online merchants spend a lot of money on chargebacks, which are demands by credit card providers to reimburse for fraudulent charges. That’s why Signifyd created technology that assesses a transaction risk before the card is processed.

The San Jose-based company is raising $19 million in financing for its fraud protection services. Investors include Menlo Ventures, TriplePoint Capital and American Express Ventures.

Many e-commerce businesses do not have the resources to screen for risky transactions, so Signifyd’s financial guarantee has allowed them to secure clients like Jet.com, Lacoste, and Peet’s coffee. Signifyd says it has developed machine learning capabilities that are accurate enough for them to feel confident reimbursing the merchant on the rare occasions when its predictive technology is wrong.

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Petnet Raises $10 Million Series A

PetCo
Petnet
, the leader in personalized feeding for pets, today announced it raised a $10 million Series A financing round, led by Petco.
With the new funds, Petnet will continue to expand its product line, develop its pet food delivery service, and enhance its infrastructure. Beginning this week, Petnet’s SmartFeeder ($149) and SmartBowl ($49) are available at select Petco stores nationwide and online at Petco.com.

Carlos Herrera, CEO and co-founder of Petnet, said: “Petnet was born out of love for our pets and the passion to improve their lives. We are pleased to partner with Petco to leverage their know-how and existing infrastructure to reach more pet owners across the U.S. These new funds will enable us to further develop our personalized pet feeding service to keep pets everywhere happy and healthy.”

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Domino’s Partners With Flirtey to Deliver Pizzas by Drone

“This isn’t a pie-in-the-sky idea.”

Some of the world’s biggest companies—Amazon, Google—are itching to make commercial deliveries by drone, but a pizza restaurant may beat them to it.

On Thursday, Domino’s Pizza Enterprises—an international franchiser of the Domino’s Pizza brand—conducted a demonstration of pizza delivery by drone in Auckland, New Zealand as it stated its intent to be the world’s first company to launch regular drone delivery.

“We’ve always said that it doesn’t make sense to have a 2-tonne machine delivering a 2-kilogram order,” Domino’s Group CEO and managing director Don Meij said in a statement. The use of drones, “is the next stage of the company’s expansion into the artificial intelligence space and gives us the ability to learn and adopt new technologies in the business.”

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ApolloShield Sends Unwanted Drones Home


ApolloShield
, which was originally incorporated as Airfence Inc., has launched an anti-drone system that detects drones flying where they’re not authorized or wanted, and forces them to fly home.

The startup intends to sell its technology to owners or managers of venues that have intense security needs such as oil refineries, nuclear facilities, airports, prisons, stadiums or hotels and buildings where high-net worth individuals or public figures may reside.

Co-founders Nimo Shkedy (CEO) and Gilad Beeri (CTO) explained that the ApolloShield system includes a unit installed on the ground that contains a radio and antennae. Each unit scans an area for drone communications.

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The Co-founder of Nigerian Startup Andela is Leaving to Start Flutterwave

Payments has been one of the biggest challenges for Africa’s fledgling e-commerce market and Aboyeji, 25, whose previous startups have focused on the education and training sectors in the past, believes solving the payments challenge for merchant partners across the continent could unlock billions of dollars in value.

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