Summary:
Mainstreet.com acquired by Employer.com, valuing the latter at over $700 million
General Fusion lays off 25% of staff due to financial difficulties
Datadog acquires Eppo, adding to its recent purchase of Metaplane
NewLimit raises $130M Series B for age-reversing therapies
Finom secures $105M to expand its neobank services for SMBs in Europe
Clay offers employee liquidity at a $1.5B valuation, a rare early exit opportunity
This week in the startup world was anything but dull. While the IPO market remained quiet, the landscape was buzzing with unusual liquidity events, significant funding rounds, and strategic acquisitions. Here's a breakdown of the most compelling stories.
Most Interesting Startup Stories from the Week
- Scooped up: Mainstreet.com, a fintech based in San Jose, was acquired by Employer.com, pushing the latter's valuation to over $700 million.
- Short on cash: General Fusion laid off 25% of its workforce as the fusion power startup faces financial hurdles.
- By Datadog: Datadog expanded its portfolio by acquiring Eppo, a feature-flagging platform, following its recent purchase of Metaplane.
- Retention issues: 11x saw its co-founder step down amid scrutiny over customer retention and misleading customer logos.
- Build or invest: Carta acquired SimpleClosure, a startup simplifying the shutdown process for businesses, after discontinuing its own similar service.
- Small world: ServiceNow made its second acquisition in two months, this time picking up Data.World for its data governance platform.
- With conditions: BluSmart might receive a $30 million lifeline, contingent on its co-founder's resignation.
- Liquidity: Clay allowed employees to sell shares at a $1.5 billion valuation, a rare move providing early liquidity.
Most Interesting VC and Funding News This Week
- No limit: NewLimit, focusing on age-reversing therapies, secured a $130 million Series B.
- Qonto rival: Finom raised $105 million to expand its neobank services for SMBs across Europe.
- Boosted by defense: Orca AI's autonomous shipping platform attracted $72.5 million in Series A funding.
- Scanning: Ox Security's vulnerability scanning tool garnered a $60 million Series B.
- Crafty: Recraft, with its stealth AI model, raised $30 million after outperforming giants like DALL-E.
- Bye, business cards: Blinq's digital business card platform secured a $25 million Series A.
- Wisdom truth: WisdomAI's approach to avoiding AI hallucinations in business insights earned it $23 million in seed funding.
- More power: Breathe Battery Technologies raised $21 million to enhance battery performance prediction.
- Coding context: Unblocked's AI assistant for understanding legacy codebases received $20 million in Series A funding.
- Positive energy: Bosch Ventures announced a new $270 million fund with a focus on North American deep tech startups.
Last but Not Least
Marathon Venture Capital's new $84 million fund highlights the growing influence of Greek startups on global markets, as discussed with partner Panos Papadopoulos.
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