A hardier roundup than those in recent memory, featuring two 9-digit rounds. Based on how controversial last issue's graphs were, we decided to keep looking at accelerated startups. We found that while the difference between average and median funding by company was greater in absolute terms for startups without accelerator programs, it was significantly smaller as a percentage. This implies that funding for accelerated startups is proportionately more concentrated among fewer companies.
--VC Reads--
-- Why Was Winter in Venture Capital So Short?: Mark Suster’s annual state of VC notes that 31% of VCs cut investment and that 76% reported valuation declines, but that the market is booming nonetheless.
-- How to Change the Ratio Now: Matthew Johnson, partner at 500 Startups, explains his method for focusing on women during the recruiting process.
-- Staying Productive During Rough Times: VP of Product Design at Facebook Julie Zhou on where to let one’s personal feelings affect work, where to try to keep them separate, and how to cope in general.
-- The Battle for the Soul of San Francisco: Wired takes on the problems with gentrification in the Tenderloin District, and profiles a reverend who is deeply involved.
-- Lessons From Doing YC Twice: Triplebyte co-founder Harj Taggar talks about bootcamps in general, what one should do while in an incubator, remote vetting, and more. (Video)
-- Why Silicon Valley Wouldn’t Work Without Immigrants: Tech journalist Farhad Manjoo explains why tech workers overwhelmingly fought against Donald Trump.
--Enterprise--
-- Fuze (Cambridge, MA), enterprise-grade communication platform: $104 led by Wellington Management Company, participation from Greenspring, Summit Partners, Bessemer. Seeks international expansion. CEO Steven Kokinos founded two companies that were both acquired, one of which had previously gone public.
-- Meltwater (San Francisco, CA), online media intelligence platform for brand management: $60M Debt from Silicon Valley Bank, Vector Capital. To increase strategic acquisitions.
-- Mojo Networks (Mountain View, CA), enterprise-grade cloud managed Wi-Fi: $30M E & Debt from Presidio, Trident, Granite, North Haven, Walden Riverwood, Alpha Technologies. CEO Rick Wilmer spent one year at Lightspeed Ventures’ Entrepreneur in Residence after negotiating Pliant Technologies’ sale to Sandisk for $327M.
-- SpringCM (Chicago, IL), cloud-based contract and other document management: $25M from Crestline Investors.
-- Trax Image (Singapore), image recognition to convert retail shelf photos into insights: $19.5M led by Investec Bank. Will begin to focus on top-tier retailers.
-- Xeneta (Oslo, Norway), ocean freight market intelligence: $12M B from Smedvig Capital/ Creandum, Alliance Venture.
-- Cuebiq (New York, NY), location intelligence platform to derive consumer trends: $3.5M from Tribeca Angels, ARC Angel Fund NYC.
-- Agent.ai (Sunnyvale, CA), AI- and message-based customer service platform: $2.7M from David Zhao, Ethan Davidoff, Dave Liu, et al.
--Industry4.0--
-- View (Milpitas, CA), smart glass that can both tint itself and respond to smart device commands: $100M from TIAA Investments, et al.
--Consumer Internet--
-- CarTrade (India), online P2P car auction platform: $55M led by Temasek.
-- Goat (Los Angeles, CA), mobile P2P sneaker marketplace: $25M B led by Accel, participation from Matrix, Upfront, Webb Investment Network.
--Cybersecurity--
-- HackerOne (San Francisco, CA), bug bounty and vulnerability disclosure: $40M C led by Dragoneer Investment Group. CEO Marten Mickos headed numerous companies, was an SVP at HP, and was Entrepreneur in Residence at both Index Ventures and Benchmark Capital.
-- Exabeam (San Mateo, CA), analytics-based security geared towards financial, retail, govt, energy and healthcare companies: $30M C led by Lightspeed Venture Partners, Cisco Investments, participation from Norwest, Aspect, Icon, Shlomo Kramer. To expand on Security Information and Event Management market.
-- Javelin Networks (Austin, TX), AI-based autonomous breach prevention and active directory protection: $5M A from RSL Capital, Hillsven Capital, UpWest Labs, Tomer Weingarten, et al.
-- Rippleshot (Chicago, IL), AI- and analytics-based fraud detection through payment processing: $2.6M led by KDWC, participation from CMFG Ventures. Seeks growth in credit union and banking sectors.
-- Resilient Network (San Francisco, CA), contextual access platform for disparate organizations: $1.2M A from HRK Investments. Seeks expansion in government and healthcare.
--Biotech/Health---
-- CXA Group (Singapore), healthcare worker benefits and workplace wellness platform: $25M B from B Capital Group, EDBI, Philips, RGAx. Aims to expand to other Asian countries.
-- WelbeHealth (Menlo Park, CA), housecalls- and intensive care-based healthcare for seniors: $15M A led by F-Prime Capital, .406 Ventures.
-- HealthReveal (New York, NY), clinical analytics to use proven medicine for the basis of AI-based diagnostics: $10.8M A led by GE Ventures, participation from Greycroft, Flare Capital, Manatt.
-- LifeDojo (San Francisco, CA), 12-week corporate health retreats to monitor and change health behavior: $5.1M A led by Sodexo Ventures, participation from Launchpad Digital Health, GP, JD, Telluride. To expand coaching and mobile app platform.
-- Hashed Health (Nashville, TN), blockchain and distributed ledger for healthcare improvement: $2M led by Martin Ventures, participation from Fenbushi Capital.
-- Nido Surgical (Boston, MA), medical devices for heart surgery: $1.3M A led by Broadview Ventures, participation from Angels.
--Data/Storage--
-- Fungible (Santa Clara, CA), cloud data center infrastructure maintenance: $32.5M A led by Mayfield, Walden Riverwood Ventures, Battery Ventures, participation from Juniper Networks. To work towards 2018 product rollout.
-- SnapRoute (Palo Alto, CA), modular, Linux-based platform for open sourced data centers: $25M A led by Norwest Venture Partners, participation from Lightspeed, AT&T, Microsoft Ventures. Founder Jason Forrester spent more than four years as Apple’s Global Datacenter Network Manager.
--AI/Machine Learning--
-- Chorus.ai (San Francisco, CA), AI-based platform to convert leads into sales: $16M A led by Redpoint Ventures, participation from Emergence.
--Consumer Products--
-- Chatbooks (Provo, UT), converts digital photos into physical photo albums: $11.5M B led by Aries Capital Partners, participation from Signal Peak, BYU Cougar.
-- Tenka Labs (Sausalito, CA), LEGO-compatible smart toys that teach STEM and STEAM: $2.1M Seed.
--Fintech--
-- Exactuals (Los Angeles, CA), platform for complex payments: $10M A led by City National, TTV Capital, participation from Stanford-StartX, S-Cubed, Palo Alto, Skyview, The Strand, Temerity, et al. Began partnership with the SAG for residuals direct deposit payments. CEO Mike Hurst was a Stanford Sloan scholar, and a mentor at Startx.
-- Inbox Health (New Haven, CT), patient billing and payments, insurance transparency platform: $1.5M Seed led by Connecticut Innovations, participation from Launch, Enhanced, I2BF Global, David Sturek, Mohawk, Margaret Ricciardi.
--Edtech--
-- Holberton (San Francisco, CA), platform to train full-stack software engineer: $2.3M Seed led by daphni, participation from Reach, Insight , Trinity, Jerry Yang, Partech, Jonathan Boutelle. CEO Julien Barbier successfully sold three companies.
Today’s newsletter is brought to you in part by Jam City:
--Funding Breakdown--
--Enterprise--
8 Deals: $256,700,000
--Industry4,0--
1 Deal: $100,000,000
--Consumer Internet--
2 Deals: $80,000,000
--Cybersecurity--
5 Deals: $78,800,000
--Biotech/Health--
6 Deals: $59,200,000
--Data/Storage--
2 Deals: $57,500,000
--AI/Machine Learning--
1 Deal: $16,000,000
--Consumer Products--
2 Deals: $13,600,000
--Fintech--
2 Deals: $11,500,000
--Edtech--
1 Deal: $2,300,000
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