Thursday, July 11, 2019

Term Sheet: Jul. 11, 2019

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July 11, 2019

Andreessen Horowitz just appointed its 16th general partner. Anish Acharya will join the venture capital firm as a general partner focused on fintech investing. 


Acharya is a serial entrepreneur who sold his first company to Google and his second to Credit Karma. During his four years at Google, he was a product manager before making his first foray in the investing world. Acharya became a partner at GV (formerly Google Ventures) in 2012 focusing on gaming and the consumer internet. 


"I was thankful for that experience because I got to work on a bunch of different sectors," Acharya told Term Sheet. "But I was still hungry at the time, and I still wanted to build companies."


Acharya moved into an entrepreneur in residence role within Google and began working on a new mobile notifications startup that he sold to Credit Karma in 2015. After four years at the company, Acharya most recently served as the vice president of product management at Credit Karma. Acharya told Term Sheet his move to Andreessen Horowitz was opportunistic and that he was already friendly with several of the firm's partners. 


"Credit Karma is an iconic company," said Andreessen Horowitz general partner Alex Rampell. "Anish, who was the product mind behind it, really had to understand everything going on in fintech across the globe. He has an encyclopedic knowledge of the space."


Andreessen Horowitz has been beefing up its fintech investment unit as of late. There are now three general partners — Acharya, Rampell, and Angela Strange — who focus on the sector, and their most recent investments include Tally, Synapse, ADDI, and Sentilink. 


40 UNDER 40: Fortune released its annual 40 under 40 list of the most influential young people in business. Browse the list here.


PS: Thank you to everyone who has emailed to alert me about the font and formatting of Term Sheet. We're going through a migration on the back-end, and we'll be making some fixes soon. I appreciate your patience. 


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VENTURE DEALS


Creditas, a Brazil-based lending platform, raised $231 million in funding at a $750 million valuation. SoftBank led the round, and was joined by investors including Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital. 


Remitly, a Seattle-based online international money transfer service, raised $220 million in financing. Investors include Generation Investment Management, Owl Rock Capital, Princeville Global, Prudential Financial, Schroder & Co Bank AG and Top Tier Capital Partners.


Sonder, a San Francisco-based hospitality company, raised $210 million in Series D funding at a valuation of more than $1 billion. Investors include Fidelity, Valor Equity Partners, Gavin Baker's Atreides Capital, ARod Corp, Tao Capital Partners, Spark Capital and Greenoaks Capital.


OneTrust, an Atlanta-based company that develops tools to help companies navigate data protection and privacy policies, raised $200 million in Series A funding at a $1.3 billion valuation. Insight Partners led the round. 


Signavio, a Germany-based business process optimization company, raised $177 million in funding. Apax Digital led the round, and was joined by investors including DTCP


Byju's, an India-based online educational service provider, raised $150 million in funding. Qatar Investment Authority led the round, and was joined by investors including Owl Ventures. The deal reportedly values Byju's at $5.75 billion, according to TechCrunch. Read more.


Luminar, a Portola Valley, Calif.-based maker of laser lidar sensors for self-driving vehicles, raised $100 million in funding. Investors include G2VP, Moore Strategic Ventures, LLC, Nick Woodman, The Westly Group, 1517 Fund / Peter Thiel, Canvas Ventures, Corning Inc, Cornes, Volvo Cars Tech Fund, Crescent Cove Advisors and Octave Ventures.


Minerva Project, a San Francisco-based provider of educational offerings, raised $57 million in Series C funding. Bytedance led the round, and was joined by investors including TAL Education Group, Yongjin Group, Pinpoint Ventures, Kakao Ventures, and Tan Tan Ventures.


Opay, a Nigeria-based mobile payments startup, raised $50 million in funding. Investors include Sequoia China, IDG Capital, and Source Code Capital


Pipefy, Brazil and San Francisco-based lean management platform that helps managers run efficient workflows, raised $45 million in Series B funding. Insight Partners led the round, and was joined by investors including Trinity Ventures and OpenView Venture Partners.


Nurx, a San Francisco-based birth control delivery startup, raised approximately $42 million in funding. Investors include Kleiner Perkins, Union Square Ventures, and Lowercase Capital.


Kyndi, a San Mateo, Calif.-based artificial intelligence company building the first explainable AI platform, raised $20 million in Series B funding. Intel Capital led the round, and was joined by investors including UL Ventures and PivotNorth Capital.


PlanetiQ, a Bethesda, Md.-based weather forecasting and analytics company, raised $18.7 million in Series B funding. New Science Ventures and AV8 Ventures led the round.


Akash Systems Inc, a San Francisco-based developer and supplier of small satellites, raised $14.5 million in Series A funding. Investors include Khosla Ventures, Founders Fund, ACME Capital, Sriram Krishnan and Correlation Ventures.


IQM, an Espoo, Finland-based makes hardware systems for quantum computers, raised $13 million in seed funding. Investors include Matadero QED, Maki.vc, MIG Fonds, OpenOcean, Tesi (Finnish Industry Investment) and Vito Ventures.


Powerhive Inc, a Berkeley, Calif.-based energy solutions and technology provider for emerging markets, raised $9.3 million in Series B funding. Investors include Toyota Tsusho Corporation.


Vyopta, an Austin, Texas-based developer of monitoring and analytics tools to optimize workplace collaboration, raised $7.5 million in Series B funding. The investor was Elsewhere Partners.


Swit, a San Francisco-based workplace team collaboration app, raised $6 million in funding. Korea Investment Partners led the round, and was joined by investors including Hyundai Venture Investment Corporation, and Mirae Asset Venture Investment.


Dataform, a London-based data pipeline management company, raised $2 million in funding. Investors include LocalGlobe.


HEALTH AND LIFE SCIENCES DEALS


Demetrix Inc, a New York-based biotechnology company focused on the production of cannabinoids, raised $50 million in Series A funding. Tuatara Capital led the round, and was joined by investors including Horizons Ventures. 


vasopharm GmbH, a Germany-based biopharmaceutical company developing a treatment for traumatic brain injury, raised €9.5 million ($10.7 million) in funding. HeidelbergCapital Private Equity and EF Investments co-led the round, and were joined by investors including Bayern Kapital, Future Capital, Hanseatic Asset Management and Ringtons Holdings


One BioMed Pte Ltd, a Singapore-based medical diagnostics company, raised $5 million in Series A funding. Biopath Ventures and ARCH Venture Partners led the round, and were joined by investors including SEEDS Capital.


PRIVATE EQUITY DEALS


Battery Ventures acquired 1WorldSync Holdings, a Ewing, N.J.-based provider of product content solutions. Financial terms weren't disclosed. 


Marlin Equity Partners acquired HotSchedules and Fourth, which provide workforce, inventory, and operations management solutions. Financial terms weren't announced. 


Prototek, a portfolio company of CORE Industrial Partners, acquired Cal-X, a Grafton, Wisc.-based provider of precision machining and sheet metal fabrication rapid prototyping services. Financial terms weren't announced.


OTHER DEALS


Shell and Sumitomo Corporation made an investment in LO3 Energy, a New York-based provider of energy technology consulting services. Financial terms weren't disclosed. 


Collibra acquired SQLdep, a Prague-based SaaS provider of automated data lineage. Financial terms weren't disclosed. 


EXITS


Palo Alto Networks acquired Twistlock, a San Francisco-based container security company, for about $410 million in cash. Twistlock had previously raised more than $63 million in funding from investors including Iconiq Capital, Dell Technologies Capital, YL Ventures, TenEleven Ventures and Polaris Partners.


FIRMS + FUNDS


The Carlyle Group (NASDAQ: CG) raised $2.2 billion for the Carlyle Global Infrastructure Opportunity Fund. 


Vista Equity Partners, an Austin, Texas-based private equity and venture capital firm, raised $850 million for a second, according to Reuters. Read more.


YL Ventures, a Mill Valley, Calif.-based venture capital firm, raised $120 million for its fourth fund.



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PEOPLE


Andy Freire joined SoftBank's Latin America fund as a managing partner.


YL Ventures promoted John Brennan to partner.


Vertex Ventures US appointed Chase Roberts as a principal. 


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