Group14 raises Monster Round for EV battery hardware; Mosyle lands $196 million to manage Apple devices
This is a weekly feature that features the top 10 funding rounds of the week in the United States. Check out the biggest funding rounds from the past week here.
Remarkable this week was that the much-talked-about pullback from investors seems very real. Crunchbase has previously reported that April saw the lowest amount invested in private companies in the past 12 months, and a quick look at the major fundraising rounds raised this week indicates that May is also getting off to a slow start. Five of the top 10 deals that made the list this week were for $100 million or less. This would never have happened five months ago.
1. Group14, $400 million, drums: An electric vehicle battery company based in Woodinville, Wash., took pole position this week. Group14 has closed a $400 million Series C led by German auto giant Porsche AG. The company is a manufacturer of materials needed to create lithium-silicon batteries and will use the new funds to expand the company’s manufacturing capacity. The development of EV batteries has become prominent among investors. Last year saw record investment, with more than $3.6 billion going to hardware and software companies developing better battery technologies, according to data from Crunchbase. Group14 has raised $441 million to date, according to the company.
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2. Mosyle, $196 million, mobile device: Protecting and managing mobile devices is always a concern for enterprises. This is especially true today as more and more employees use their own personal devices for work. This has caused IT departments to find solutions for multiple products, especially the growing number of Apple products in the workforce. Mosyle, based in Winter Park, Fla., this week raised a $196 million Series B round, led by New York-based Insight Partners, to help manage and secure these Apple devices. The company launched a new unified Apple mobile device management solution just to help struggling IT departments catch up. Other cybersecurity companies, as well as San Diego-based startup Kandji, which has raised nearly $190 million according to Crunchbase, also offer Apple solutions. However, with Insight’s support, Mosyle may be in a prime position in space.
3. Materials Bank, $175 million, interior design: Bloomberg reported that Material Bank has raised a $175 million funding round led by Brookfield Growth that values the architecture and design-focused Material Asset Library at $1.9 billion. That nearly doubles the $975 million valuation the Boca Raton, Fla.-based startup hit last April when it raised $100 million, according to the report. Founded in 2018, the design materials marketplace has raised over $320 million, according to Crunchbase.
4. Dot, $115 million, fintech: Most homeowners would like to tap into the equity in their home. However, refinances and loans obviously come with costly monthly payments and interest. Point based in Palo Alto, Calif., offers a different route. It allows owners to sell a fraction of the home’s future value to institutional investors for immediate financing. The business model — which may be attractive to owners given rising interest rates — was enough for the company to close a $115 million Series C fundraising round led by WestCap. Founded in 2015, Point has raised more than $170 million in equity, according to the company.
5. Teleportation, 110 million dollars, identity: Facilitating the development of developers is a good way to raise funds from investors. Oakland, Calif.-based Teleport closed a $110 million Series C led by Bessemer Venture Partners at a $1.1 billion valuation. The company offers what it calls “identity-based” infrastructure access, which consolidates all aspects of infrastructure access into a single platform for software engineers and their applications. The new round comes after the company nearly tripled its revenue and doubled its customer base from 2020 to 2021. Founded in 2015, the company has raised $169 million to date, it said in a statement. The identity and authentication space has seen unprecedented investment in the past year. It can continue.
6. Fictiv, $100 million, manufacturing: San Francisco-based Fictiv, an on-demand manufacturing company, raised $100M Series E led by Activate Capital. Founded in 2013, Fictiv has raised a total of $192 million, according to the company.
7. Sentry, $90 million, app performance: San Francisco-based Sentry has raised a $90 million Series E co-led by BOND and Accel at a valuation of over $3 billion. The Application Performance Management (APM) firm tripled its valuation from February 2021, when it raised a $60 million Series D at a $1 billion valuation. Founded in 2012, Sentry has now raised $217 million, according to the company.
8. (tied) Hello Heart, $70 million, healthcare: Hello Heart, a heart-focused digital therapeutics company based in Menlo Park, Calif., has closed a $70 million Series D led by Stripes. Founded in 2013, the company has raised a total of nearly $140 million, according to Crunchbase.
8. (tied) Lev, $70 million, real estate: New York-based Lev has closed a $70 million Series B funding round led by Parker89 and Cross River Digital Ventures. The company also secured $100 million in debt financing. Founded in 2019, the digital commercial real estate transaction platform has raised more than $200 million, the company said.
ten. Edge Delta, $63 million, data analytics: Seattle-based Edge Delta has raised a $63 million Series B round led by Quiet Capital. Founded in 2018, the company, whose platform helps clients analyze and extract insights from data, has raised more than $80 million, according to Crunchbase.
big world business
Three of the five largest rounds were raised by companies outside the United States, including one round over $1 billion.
- South Africa-based Inspired, an operator of premium schools in Europe, Australia and Africa, has closed a private equity financing of over $1 billion.
- Zepto, an India-based grocery delivery service, raised $200 million in Series D.
- Paris-based digital health insurance platform Alan has closed a round worth around $194 million.
We tracked the biggest rounds in the Crunchbase database that were raised by US-based companies for the seven-day period from April 30 to May 6. Although most of the advertised rounds are represented in the database, there might be a small lag as some rounds are posted on weekends.
Illustration: Dom Guzman
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