The Funded: 11 Bay Area startups raise more than $400M at midweek
More than $400 million in Bay Area venture funding was disclosed at midweek, along with news about two big IPOs, two acquisitions and a new VC fund.
Here are the details:
• IGM Biosciences Inc., Mountain View, $102 million: Investors in the Series C round of this cancer drug developer are Redmile Group, Janus Henderson Investors, Vivo Capital and Haldor Topsøe Holding.
• Revolution Medicines Inc., Redwood City, $100 million: Investors in the Series C round of this developer of medicines for cancer patients include Boxer Capital of the Tavistock Group, Cormorant Capital, Deerfield Management, Fidelity Management & Research Company, Vivo Capital, Biotechnology Value Fund, Nextech Invest, Schroder Adveq, The Column Group, Third Rock Ventures and Casdin Capital. (Read more here.)
• TrustArc Inc., San Francisco, $70 million: Bregal Sagemount led the Series D funding of this provider of privacy management software. It was joined by Accel, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures.
• Anchorage Hold LLC, San Francisco, $40 million: Blockchain Capital led the Series B funding of this cryptocurrency custodian for institutions. It was joined by Visa and Andreessen Horowitz.
• 15Five Inc., San Francisco, $30.7 million: Next47 led the series B round of this provider of continuous performance management software. It was joined by Matrix Partners, PointNine Capital, Launch fund, Newground Ventures, Bling Capital, Chaifetz Group and Origin Ventures.
• Kyndi Inc., San Mateo, $20 million: Intel Capital led the Series B funding of this natural language processing platform provider. It was joined by UL Ventures and PivotNorth Capital.
• Mesmer Eyes Inc., Palo Alto, $15 million: Intel Capital led the Series A round of this creator of AI-powered bots. It was joined by investors including True Ventures.
• Powerhive Inc., Berkeley, $9.3 million: Investors in the Series B round of this startup focused on providing rural home access to microgrid electricity include Toyota Tsusho, Kouros, To:org and return backers Tao Capital, James Sandler, Prelude Ventures, Caterpillar Ventures and Total Energy Ventures.
• Jacobi Inc., San Francisco, $7.7 million: Investor in this investment portfolio design platform provider include Illuminate Venture Partners, 8VC and Credit Ease Venture Fund.
• MedaRed Inc., San Francisco, $6.5 million: Seed investors in this developer of therapeutics targeting fibrin include Dementia Discovery Fund and Dolby Family Ventures.
• Richard Branson’s Virgin Galactic space tourism business has announced plans to go public in a merger valued at about $1.5 billion with Social Capital Hedosophia, the Palo Alto-based blank check company run by Chamath Palihapitiya. (Read more here.)
• Concord-based AssetMark Financial Holdings Inc. set price targets for an IPO in which it hopes to raise up to $302 million next week. It plans to sell 12.5 million shares for between $19 and $21 each, and another 6.25 million shares have been set aside for underwriters. It would have a market cap of about $1.5 billion at the top of its target range and plans to trade on the New York Stock Exchange with tnhe symbol of "AMK." The company reported $99 million of net income on $296 million in revenue for 2018. It major shareholders include China’s Huatai International.
• Palo Alto-based AppLovin, the mobile gaming platform provider, acquired SafeDK, an Israeli mobile SDK management platform for an undisclosed amount. AppLovin earlier this year sold a 20 percent equity stake to KKR for $400 million. SafeDK raised over $5 million before the sale from firms like Samsung Next Ventures, StageOne Ventures and Kaedan Capital.
• Mountain View-based Alphabet Inc. unit Google is acquiring Santa Clara-based cloud storage business Elastifile. Terms aren't being disclosed. Elastifile had raised $74 million from investors who include Cisco Investments, SanDisk Ventures, Dell Technologies Capital, Lightspeed Venture Partners, Battery Ventures and Western Digital Partners. (Read more here.)
Funders in the news
- San Francisco-based venture capital firm Haystack Ventures raised $50 million for its fifth fund, according to a filing with the SEC.
Mesmer, the leader in Robotics Process Automation for Development (RPAD), is radically changing the way developers work. Mesmer’s AI-powered bots use patent-pending Deep Learning Automation (DLA™) to accelerate every function of customer experience testing. This means means crazy fast releases, better apps, and happier employees. Mesmer is headquartered in Palo Alto, California, and funded by Intel Capital and True Ventures.