Round of the Week – InsideSales.com

cold call

The cold call is dead!  Well, that is what sales acceleration company InsideSales.com is attempting to prove and their latest $100M funding will give them quite the arsenal to do so.  This is not your typical “big data” cloud platform because in addition to providing a lot of sales features, it also uses predictive analytics and machine learning to provide insight that adapts to your business. Given how large the Inside Sales market is, we could easily see this company being a massive disruptor in the space in the next few years.  We here at C:V. will be following them along their journey for sure!

Name: InsideSales.com

Website: www.InsideSales.com

Funding to Date: $143M ($4M Seed, $4M A, $35M B, $100M C)

Deal Notables: You know you have something good going when you have the ability to turn down over 10 term sheets and $200M in additional funding…

Round of the Week – Synack

BinaryPeople(1)

A crowdsourced enterprise security firm raises an A round from top investors and our “C:V. favorite” Shape Security’s CEO? Talk about a guaranteed way to get featured as a Round of the Week on C:V.! NSA-led Synack has done just that with their $7.5M Series A this week to capitalize on the growing security needs of the Fortune 2000.

*Editor’s Note: If you are new to this site (Welcome, we hope you like it!) or unfamiliar with our infatuation about A) enterprise security or B) Shape Security please refer to the respective hyperlinks to get a taste…

Name: Synack

Website: www.synack.com

Funding to Date: $9M ($1.5M Seed, $7.5M A)

Deal Notables: While we are on record here at C:V. for being suckers for a large disruptive market with a strong management team (Synack has these in spades), we are intrigued by this business model as it can drastically reduce the costs for mid to large size businesses looking increase their security awareness. Needless to say, we look forward to following Synack in its life cycle.

Round of the Week – Wefunder

WEFUNDER

One of the upstarts in the crowdinvesting space, Wefunder has reportedly raised a $500K round this week.  Similar to the AngelLists of the world, Wefunder is a crowdinvesting platform that allows almost anyone to invest in promising companies.  What type of companies you ask?  Well, you have your run of the mill tech/hardware startups and then there’s the Flying Cars company.  Seriously, one of the most successfully funded projects to date for them is Terrafugia, a flying car startup with $30M in preorders to boot.

Name: Wefunder

Website: www.wefunder.com

Funding to Date: ~$1.1M ($530K Seed, $500K A?)

Deal Notables: Not so much deal related, but C:V. has a storied history with Wefunder.  Some of our early inspiration for creating C:V. stemmed from an email chain between colleagues where we would evaluate and value selected Wefunder startups. We would pick a company and do a rundown on their market size, management team, and product offering to determine whether or not we saw the opportunity as viable for investment.  VC nerds gonna VC nerd…

Round of the Week – Crittercism

2014-growth-chart-3-1024x819

MAU strikes again!  Mobile App Performance Management (mAPM) company Crittercism raised a $30M C round to assist in their expansion to the B2B app market.  We can only imagine how much larger their MAU will be once they do infiltrate the corporate world…

Name: Crittercism

Website: https://www.crittercism.com/

Funding to Date: $48M ($1.2M Seed, $5.5M A, $12M B, $30M C)

Deal Notables: Being tasked with fixing the “blue screen of death” for apps is quite an undertaking but Crittercism seems to have a solid direction of how to get there.  Interesting to note that two of their goals are to 1) Deliver more product capabilities/Expand their value-add and 2) Expand their distribution and partnership channels.  Hmmmm… where have we seen those tactics before...

P.S. if you were wondering, they already have plenty of “Lighthouse” customers

Round of the Week – SoFi

Student Loans from Select Colleges and Universities + Lower Rates than Sallie Mae + Social Community with Alumni support = SoFi

SoFi or Social Finance has followed the above equation and found great success in the Student Loan refinancing market. As a result, they have raised yet another $80M in a C round to expand their footprint and dive into other loan markets.

Name: SoFi

Website: https://www.sofi.com/

Funding to Date: $161M Equity, ~$400M Debt (Full Details here)

Deal Notables: Part of this funding will be for SoFi’s first foray out of the student loan business and into other lending verticals (mortgages, etc.).  This could be a daunting task for most startups for fear of growing too big too quick, but given SoFi’s track record of successful loan refinancing with a committed investor and applicant base, we see them having a strong case for exploring expansion.

This round was for preferred equity (we presume) but SoFi is the first company we have featured here on C:V. that has debt (And a large chunk of it!).  There does not appear to be any additional debt raised in this funding, but we do admire the fact that SoFi can play in both markets simultaneously so effectively.  Check out the piece in Time on them too!  Great read about how they are transforming the lending industry.

Round of the Week – Actifio

keep-calm-and-series-e-on-1Another week, another large (albeit later) round at a large valuation.   Boston-based Acitifo raised a $100M Series E at a rumored $1B valuation this week. We know what you are thinking, hey C:V., to quote your favorite YouTube video, “Series E, Oh No” shouldn’t we be worried about this deal?  Based on its funding history and market disruption potential (re: the VMware for Copy Data), we think everyone will be just fine…

Name: Actifio

Website: http://www.actifio.com/

Funding to Date: $208M (rounds A-E here!)

Deal Notables: “If you ask most corporate CIOs if they have a copy data problem, they’ll say they don’t,” Ashutosh says (CEO of Actifio). “When we then explain what it is, they tell us they’ve spent a ton of money dealing with the problem they just said they didn’t have.” Its quotes like these that we can see why Actifio has so much backing and given they are actively referring it to the same game-changing virtualization technology that VMware pioneered in the early 2000’s, this could be the beginning of a seismic shift in the storage management space. (Props to Dan Primack of Fortune for his article on the round)Actifio

*Editor’s Note:  Speaking of Dan Primack, if you don’t already follow Term Sheet, sign up here.  One of the best daily updates in the biz and C:V. required reading.

Round of the Week – Aquantia

To quote our favorite YouTube video “Series F. Where’s my IPO, Series G: Gettin Low”, whenever we see a later round investment we are always intrigued as to what the status of the company (and cap table) is.  In that light, we have given semiconductor company Aquantia and their $16M G round the honor of Round of the Week.

Name: Aquantia

Website: http://www.aquantia.com/

Funding to Date: $154M (too many to list!)

Deal Notables: Even with strong headwinds of VC’s movement away from semiconductor investments, Aquantia has raised yet another round and is apparently on an IPO path. Thankfully, they own about 70% of the market and are expecting phenomenal growth with  “large revenue opportunities”. So if anyone has the chops to go public amid all the chaos, they seem to fit the bill.  We just hope the founding members have some equity remaining to compensate them for their hard work all these years…

Round of the Week – Spritz

Pretty neat how this actually works without giving us a headache…

spritz

Finally coming out of stealth this week, Boston based speed-reading technology company Spritz has raised a $3.5M Seed round.   Check out the technology behind the faster reading tool here.  They plan to license their technology to app and web developers, which should be a good way to test new channels indirectly and inexpensively (free downstream R&D!).

Given that Spritz has the ability to disrupt so many MASSIVE markets (Email, Education, Business, etc.), we wonder if they are only using the licensing model initially for feedback loops to find product-market fit and then will pivot to a more vertical approach?  Either way, it will be fun to read about what happens (hopefully much faster than average!)

Name: Spritz

Website: http://www.spritzinc.com/

Funding to Date: $3.5M Seed

Deal Notables:  This was a tranched deal ($1M, $2.5M).  When we see tranches, we see it as our duty to at least guess what the terms of it were…

C:V.’s guess:  Initial funding went for development and since they are all about User adoption, we think they hit their User growth goal which triggered the final piece. Simple. Actionable. Desirable for all.

Round of the Week – DocuSign

And the award for the most crowded Cap Table of the week goes to…

crowded table

DocuSign board meeting?

Electronic signature platform DocuSign raised a whopping $85M this week (rumored at a valuation of $1.6B) to expand growth and innovation. This brings their total funding to $210M and their investor count to about the same… Seriously though, they did not name the investors this round, but according to their Crunchbase profile, they have at least 10 different investors in the round (holy syndicate Batman!).  What we would give to see the evolution of the Cap Table since inception…

Name: DocuSign

Website: https://www.docusign.com/

Funding to Date: $210M (reports vary, but had main rounds of $27M, $55M, and $85M among other smaller ones)

Deal Notables:  CFO Mike Dinsdale is on record as saying they are not a takeover target but rather an IPO candidate.  He claimed they couldn’t be valued properly because they span so many verticals. He definitely has a point given that they have the ability to disrupt almost every market in existence (i.e. anything that requires a signature…). Makes us wonder that if $1.6B was the value for the round, what was the associated TAM for E-signatures and DocuSign’s corresponding market share expectation?  $16B and 10%, $8B and 20%??

Round of the Week – Shape Security

In honor of the RSA Conference happening this week, we have decided to bestow our first “Round of the Week” on Shape Security.

After being rather tight-lipped since its inception and releasing its first product just last month, Shape has quickly become a force to be reckoned with. Armed with quite possibly the best Management/Board/Investor/Advisor combo in the security business and a fresh $40M in backing, this company need not be quiet about their plans anymore.

Name: Shape Security

Website:   http://www.shapesecurity.com/

Funding to Date: $66M ($6M A, $20M B, $40M C)

Deal Notables:  The Board/Management team is literally an “All Star” cast of the security world.  It is no surprise they have been able to secure so much funding prior to their product launch with the caliber of talent they have at their disposal (has to make for a crowded cap table though…). Highlights of the team below, but read here and here to see for yourself just how stacked they are.

  • Sumit Agarwal – The 1st Google Mobile Product Manager and Former Deputy Assistant Secretary of Defense for US Department of Defense
  • Shuman Ghosemajumder – Google’s former “Click Fraud Czar”
  • Michael Coates – Former Chief Security Officer of Mozilla

*Editor’s note:  We will be doing features on both the current state of the Enterprise Security market (hot like fire!!) and the relation of funding amounts to “Exceptional Co-Founders” in the near future so stay tuned!