Weekly-Round-Up-February 27th to March 5th
March 6th, 2023
Marco, the first tech-enabled trade financing platform developed for small and medium-sized enterprises in South America and the United States, has acquired a $200 million credit facility from MidCap Financial, a renowned middle market lender, and Castlelake, a worldwide asset-based private credit specialist. Marco has also announced an $8.2 million equity investment led by Arcadia Funds LLC. The additional money will help Marco develop its trade finance platform and range of trade services in order to close the $2 trillion global trade finance gap, which disproportionately affects small and medium-sized businesses (SMEs).
Typeface, the generative AI tool for enterprise content creation, has emerged from the shadows to enable businesses to safely generate unique, brand-personalized content faster and more efficiently than ever. Lightspeed Venture Partners, GV (Google Ventures), M12 (Microsoft’s Venture Fund), and Menlo Ventures led the $65 million round, which was oversubscribed. Typeface is led by Abhay Parasnis, former CTO of Adobe, and a highly experienced team of AI, SaaS, and media developers.
Temporal, the market leader in durable execution systems, announced that it has raised $75 million in Series B-Prime capital to accelerate investment in its open-source community and cloud service. The Temporal Series B-Prime investment comes one year after the company’s initial Series B round; during that time, customers and revenues for Temporal Cloud have risen 20X. Greenoaks joins the existing Temporal investor roster, which includes Amplify Partners, Index Ventures, Sequoia Capital, Madrona Venture Group, and Addition Ventures. To date, total financing has surpassed $200 million.
BetterNight, a leading supplier of comprehensive sleep care via its virtual care platform, announced a $33 million growth investment headed by NewSpring. Existing investors HCAP Partners and Hamilton Lane participated in the financing round through their Impact Fund II and other accounts maintained by the business.
CARGO Therapeutics, Inc. (CARGO), a biotechnology firm developing next-generation CAR T-cell treatments for cancer, announced the completion of a $200 million Series A fundraising that was oversubscribed and upsized. Third Rock Ventures, RTW Investments, LP, and Perceptive Xontogeny Venture Fund co-led the financing, which also included Nextech, Janus Henderson Investors, Ally Bridge Group, Wellington Management, and funds and accounts advised by T. Rowe Price Associates, Inc., Cormorant Asset Management, and Piper Heartland. The financing was also supported by founding investor Samsara BioCapital, as well as current seed investors Red Tree Venture Capital and Emerson Collective.
Homz, the first national housing company in the United States to construct wellness-centric multifamily housing, announced a $50 million pre-seed fundraising round. Nanban Ventures is a Dallas-based venture capital firm that invests in businesses around the United States.
Shef, the nation’s leading chef-to-consumer marketplace, revealed plans to expand nationwide after closing a $73.5 million Series B investment round last year, increasing the company’s total capital to more than $100 million. The money, the largest ever made in a chef-to-consumer marketplace, will enable Shef to link skilled local cooks anywhere in the United States with customers looking for healthy, high-quality meals produced by members of their community.
Kindbody, a leading technology-driven fertility clinic network, and employer supplier of family-building benefits, reported that it has secured $100 million in funding from Perceptive Advisors, a renowned life sciences investment firm, to support future company expansion. Kindbody’s total equity and loan capital now exceeds $290 million, and its valuation has risen to $1.8 billion, cementing its position as the largest women-owned fertility firm servicing employers and consumers.
Related Links:
Weekly Round-Up – Feb 20 to Feb 26
Weekly Round-Up – Feb 13 to Feb 19
