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Inside Venture Capital

Inside Venture Capital (Jul 16th, 2017)

--VC Reads--

-- Review of KPCB’s 2017 Internet & Tech Trends: PROME Biologic CEO Sean Everett shares and breaks down the VC firm’s massive analysis.

-- How to Understand your Customers before Launch: Sterling Road’s Ash Rust recommends surveys, face-to-face interactions, demos, and an advisory board.

-- How to Think About A.I. Like a VC: Quentin Hardy, Google Cloud’s head of editorial, discusses the latest hot area in the context of previous trends.

-- Tech Takes a While: Founder Collective discusses disrupting the food industry.

-- Q&A with YC Partners at the Female Founders Conference (Video)

-- Study: Just the Perception of Implicit Bias Takes a Toll on Companies: Fortune reports on a study looking at the effects on employees.

-- Investing in Healthcare: Two Starkly Different Views: Fortune reports on CTL019, and its context in advisory boards, technology developers, and Novartis.

-- Morning Report: About A Fourth Of 2017 Tech IPOs Are Underwater: Crunchbase reports.

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--Consumer Internet--

-- Vroom (New York, NY), online used car retailer: $76M F from T. Rowe Price Associates, L Catterton, General Catalyst, PICO.

-- Rover (Seattle, WA), pet sitter and dog walkers network: $65M led by Spark Capital, participation from Bespoke, StepStone, Madrona, Menlo, Foundry Group, OMERS, Technology Crossover.

-- Framebridge (Washington, DC), custom eyewear frame e-commerce platform: $16.7M B led by Gordon Segal, participation from Beth Kaplan, New Enterprise Associates, Revolutionm, SWaN & Legend.

-- Cover (San Francisco, CA), mobile advisory platform for multiple insurance types: $11M Seed/A led by Social Capital.

-- Open Listings (Los Angeles, CA), home purchasing platform that provides rebates based on estimated agent commissions: $6.5M A led by Matrix Partners, participation from Initialized, Arena, et al.

--Enterprise--

-- Assent Compliance (Ottawa, Canada), global supply chain compliance platform: $31.4M B led by Greenspring Associates, participation from Volition, Open Text Enterprise, Business Development Bank of Canada, et al.

-- Pendo (Raleigh, NC), user experience analytics and guidance: $25M C led by Meritech Capital Partners, participation from Battery, Contour, Core, IDEAFund, Salesforce, Spark.

-- Nosto (Helsinki, Finland), user experience customization for online retailers: $17M from Wellington, Open Ocean, The European Investment Bank.

-- Bevi (Boston, MA), custom beverage-on-tap machines: $16.5M B led by Trinity Ventures, participation from Horizons, Tamarisc.

-- Lightbend (San Francisco, CA), distributed app development platform: $15M from Bain Capital, Blue Cloud, IBM, Intel, Juniper, Shasta.

-- Bespin Global (Seoul, South Korea), multi-cloud management platform: $15M A led by Legend Capital, participation from Premier, Altos, Hyosung ITX, et al.

-- OwnBackup (Fort Lee, NJ), SaaS and PaaS backup and recovery: $7.5M B led by Insight Venture Partners, participation from Innovation Endeavors, Oryzn, Salesforce.

-- Saucey (Los Angeles, CA), alcohol delivery logistics: $5.4M A led by Bullpen Capital, participation from Blumberg, Structure, HashtagOne.

--Biotech/Health--

-- Evelo Biosciences (Cambridge, MA), monoclonal microbials: $50M B from Flagship Pioneering, GV, Celgene, Mayo Clinic, Alexandria.

-- Solera Health (Phoenix, AZ), integrated chronic disease prevention: $18.3M B led by Adams Street Partners, participation from Blue Cross Blue Shield, Sandbox Industries, SJF.

-- Actinobac (News Brunswick, NJ), varied therapeutics: $4.4M from Kairos Ventures.

-- gel-e (College Park, MD), emostatic and wound treatment products: $3.1M from undisclosed investors.

-- iBeat (San Francisco, CA), wearables to track heart rate and send alerts in case of emergency: $3M Seed from WTI, SV Tech, Lee Equity, Michael Rubin, Mark Burg, Harald Ludwig.

-- BloomAPI (Seattle, WA), system to share medical records with patients or other doctors: $2.4M from Y-Combinator, Slow, Founders’ Co-Op, Section 32, Liquid 2, Parker Conrad.

-- Source Molecular (Miami, FL), species of origin identification in water sources contaminated with coliform bacteria: $1.6M A from New World Angels, et al. Currently uses EPA IP.

-- TheMednet (New York, NY), cancer research sharing platform: $1.3M Seed from Endure, Lumia, The Hope Foundation, The Bonnie J. Addario Lung Cancer Foundation, et al.

--Data/Analytics--

-- Segment (San Francisco, CA), customer data collection and analysis: $64M C led by Y Combinator Continuity Fund, GV, participation from Accel, Thrive, SV Angel, New Enterprise Associates.

-- Continuum Analytics (Austin, TX), Python-based data platform: $10M from undisclosed investors.

--Robotics--

-- Geek+ (Beijing, China), AI-based robots for logistics uses: $60M B led by Warburg Pincus, participation from Volcanics.

--Cybersecurity--

-- Flashpoint (New York, NY), business risk intelligence: $28M C led by Georgian Partners, participation from Greycroft, TechOperators, Leaders Fund, Jump, Bloomberg Beta, Cisco.

--Adtech/Martech--

-- Insticator (New York, NY), interactive ad content: $5.2M A from Associated Venture Management, Mintz & Co

-- AdQuick (Los Angeles, CA), platform to make billboard space purchasing easier: $1.1M Seed from Initialized Capital, VTF Capital, Haystack.

--AI/Machine Learning--

-- Entrupy (New York, NY), AI-based secondary retailer brand authentication: $2.6M A from Digital Garage, Daiwa Securities Group, participation from Zach Coelius.

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Funding appeared to have momentum moving into 2009, but instead hit a doldrums until late-2013. The number of funding rounds began fall
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The period between 2010 and late-2013 is characterized by series A/B rounds, after which late-stage rounds begin to emerge, subsequentl
Content for premium users only
The number of series A/B rounds maintained steady average per month until 2015 when it hit a crunch. Angel/seed rounds become rarer in
Content for premium users only

--Funding Breakdown--

--Consumer Internet--

5 Deals: $175,200,000

--Enterprise--

8 Deals: $132,800,000

--Biotech/Health--

8 Deals: $84,100,000

--Data/Analytics--

2 Deals: $74,000,000

--Robotics--

1 Deal: $60,000,000

--Cybersecurity--

1 Deal: $28,000,000

--Adtech/Martech--

2 Deals: $6,300,000

--AI/Machine Learning--

1 Deal: $2,600,000

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While funding this week picked up compared to last week's, it was still on the small side for the year to date.

Email x1 screen shot 2017 07 16 at 23.07.59
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--New Funds--

-- Google launches AI VC fund, Gradient Ventures. To invest $1M-$8M in 10-15 deals this year.

-- HarbourVest closes Co-investment Fund IV: $1.75B.

-- Brentwood Associates raises for Fund VI, parallel vehicles: $1.15B.

-- Star Capital Partners closes Fund III, Europe: $917M.

-- Partech Ventures closes Fund VII, series A/B Europe: $460M.

-- Saw Mill Capital raises for buyout Fund II: $340M.

-- Growth Capital Partners closes Fund IV, UK SMEs: $270M.

-- Union Capital closes Fund II, lower middle-market food processing, outsourcing, etc.: $200M.

-- Autotech Ventures closes maiden fund, ground transportation innovation: $120M.

-- Main Capital Partners raises for Fund V, buyouts and late-stage: $114M.

-- NRD Capital raises for Fund II, restaurants: $104.5M.

-- Dubin Clark & Co raises for Fund II, middle-market business, niche manufacturing, rental: $100M.

-- Toyota launches AI investment fund: $100M.

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