Weekly-Round-Up-May 15th to May 21st
May 22nd, 2023
Zip, an intake-to-pay platform, announced a $100 million Series C funding round including investment from Y Combinator, CRV, and Tiger Global at a $1.5 billion post-money valuation. Zip’s total fundraising now stands at $181 million, including its previous seed, $25 million Series A, and $43 million Series B rounds. The business also announced the release of Zip Intake-to-Pay, an extension of its industry-first Intake-to-Procure platform for contemporary expenditure approvals that now includes Procure-to-Pay (P2P) capabilities.
Tipalti, a payables automation platform, announced a $150 million incremental growth funding round led by JPMorgan Chase Bank and Hercules Capital, Inc. (NYSE: HTGC). Following a $270 million Series F round in 2021, which took the company’s total funding to over $550 million, this current round will allow Tipalti to invest even more in product innovation and customer support.
Prime Roots, a pioneer in deli-style meats made from koji mycelium, announced $30 million in Series B funding from True Ventures, Pangaea Ventures, Prosus Ventures, Top Tier Capital, Diamond Edge Ventures, SOSV/IndieBio, Solasta Ventures, Monde Nissin, Alumni Ventures, Gaingels, Meach Cove Capital, The House Fund, and Hyphen Capital, bringing their total funding to around $50 million.
Ray Therapeutics, a leading optogenetics business, announced a $100 million Series A investment round that has been expanded and oversubscribed. Novo Holdings A/S led the round, which was supported by Deerfield Management, Norwest Venture Partners, Platanus, MRL Ventures Fund, Merck & Co., Inc.’s therapeutics-focused corporate venture fund, and current investor 4BIO Capital. The funds will be used to accelerate clinical development of many treatments aimed at curing blinding eye conditions.
Noveon Magnetics, the sole manufacturer of high-performance neodymium sustainable rare earth magnets in the United States, has completed a $75 million Series B fundraising round. NGP and Aventurine Partners led the round. The new capital will help Noveon speed its manufacturing expansion and strengthen its position as a leading supplier of important rare earth magnets to organizations in the automotive, defense, energy production, medical, and consumer products industries, among others. In addition, NGP Partner James Wallis will join Noveon’s Board of Directors.
Avenue One, a property technology service platform and marketplace for institutional housing owners, buyers, and sellers, has announced a $100 million strategic fundraising round. WestCap led the round, which also included MetLife Investment Management and other prominent investors. The additional funds will be used to improve the company’s technology and data platform, increase its local partner network, and assist the expansion of its institutional marketplace. Credit funds administered by KKR, a worldwide investment organization, and worldwide Atlantic, a renowned insurance company, are also existing investors in Avenue One.
Spiff, the premier sales commission software provider for forward-thinking revenue and sales businesses, has announced the completion of a $50 million Series C funding round. Salesforce Ventures led the round, with participation from Lightspeed, Norwest, Kickstart Fund, Album, and others. The funds will be used to expand the company’s industry-leading sales commission portfolio and to start solving for additional difficult sales and finance procedures that have traditionally relied on spreadsheets.
Gradiant, a global provider of end-to-end solutions for advanced water and wastewater treatment, said today that it has raised $225 million in its first round of Series D funding. BoltRock Holdings and Centaurus Capital led the round, increasing Gradiant’s total fundraising to date to over $400 million and its valuation to $1 billion.
Weekly Round-Up – May 8 to May 14
Weekly Round-Up – May 1 to May 7