Weekly Investment Picks (March 23 – 30)
April 01, 2021
The latest family office and institutional deals from the past week.
Veev Raises 100M
Veev has raised nearly $200 million to date in total funding. Veev raised the new funding through a listing on TASE UP, a first-of-its-kind digital platform built for innovative companies to seek capital. Since the Recession, the US has experienced a housing shortage, which has ballooned to a current deficit of 7 million units nationwide with 3 million in California alone. The new funding will fuel the company’s rapid growth and bold vision of building better homes, faster, at a lower cost and at a faster rate than the industry standard .
Veev is a building technology company founded on the belief that homes are the ultimate consumer product, and they need to be built better, and faster.
Healthcare Company Ro Raises $500m
Ro has raised $500 million in a new funding round. The company says it’s the only one to combine a telemedicine, pharmacy distribution and in-home care platform. The new cash will be used to strengthen its primary care platform and expand into new areas. Last July, Ro reached a valuation of $1.5 billion after a funding round of $200 million. It will use the money to expand its pharmacy distribution network and build new remote patient-monitoring capabilities. The latest funding comes after the company’s acquisition of Workpath in December, which allows it to offer in- home care and diagnostic services. It’s Ro’s fifth funding round since it was founded in 2017. The firm says it now has $876 million in funding.
Eat Just Inc Raises $200m
Eat Just has raised $200, in a round led by the Qatar Investment Authority (QIA). They will use the investment to build capacity for its plant-based egg and cell-based chicken products. The company plans to bring its Just Egg refrigerated and frozen formats to more consumers around the globe in 2021. The $200 million round brings the company’s total funding to more than $650 million since its founding in 2011. In March, Peet’s Coffee partnered with Eat Just on the nationwide launch of a new Just Egg sandwich, featuring all plant- based ingredients. The company also secured the first-in-the-world regulatory approval for cell- based meat. Other investors in the round included Charlesbank Capital Partners along with Vulcan Capital, the investment arm of the estate of Microsoft co-founder Paul G. Allen.
Pandemic Insights Raises $5M in Series A
Pandemic Insights has raised $5M in Series A tranche-based financing from Convergence Ventures. The investment will be used to accelerate the development and go-to-market release of the company’s products. Products will: Create personal-risk insights to help individuals make informed decisions on where they go throughout the day. Aid corporations and public health entities in visualizing risk profiles for physical facilities and their workforce via a software-as-a-service (SaaS) product.
Neighbor.com Raises $53m in Series B
Neighbor.com said it will use the cash to build up its marketplace. Neighbor is a self-storage marketplace based in Utah. The company connects owners of underused property to customers looking to rent storage space. Neighbor’s pitch is that it provides safer, more accessible storage for half the price of a traditional self-storage unit. The round also includes investments from DoorDash CEO Tony Xu, StockX CEO Scott Cutler, former Uber CEO Ryan Graves and Overstock.com CEO Jonathan Johnson, among others. The firm aims to bring digital and mobile efficiencies to the self- storage industry, where “demand is outstripping supply,” its CEO said in an interview.
IFoodDS closes Series A
iFoodDS closed a $15m Series A funding round. The Seattle-based platform provider of food safety, traceability, and quality management solutions for fresh food supply chain. Insight Partners’ Allyson White will join the iFoodDS Board of Directors.
Deliveroo Falls On Listing
Deliveroo dropped as much as 30 percent in its first minutes of trading on its London public debut. The company had set its initial public offering price at 3.90 pounds a share, valuing it at £7.6 billion. Deliveroo sold just under 385 million shares, raising £1.5 billion. The business model of Deliveroo and other gig economy companies is increasingly under threat in Europe as legal challenges mount. The offering has been troubled by major investors planning to sit out the I.P.O. amid concerns about shareholder voting rights and Deliveroo rider pay.
ServiceTitan Raises $500m
ServiceTitan announces a $500 million round at an $8.3 billion valuation. The company serves more than 7,500 contracting businesses that collectively employ more than 100,000 technicians. The capital raised will be used to fuel rapid growth, ServiceTitan says. The round was led by Tiger Global Management and Sequoia Capital Global Equities, with participation from other investors. The news release also reported that ServiceTitans has surpassed $250 million in annual recurring revenue.
Foodsmart Announces $25million in Series C
Foodsmart, a personalized telenutrition service, announces a $25 million Series C round of funding. The company hosts a national network of registered dietitians to counsel users, and offers personalized meal plans. Foodsmart is part of the food-as-medicine movement, which encourages healthier eating as an important part of creating a healthier life overall. Last year, Kroger tested out a concept where doctors wrote food prescriptions for their patients, and the prescriptions were fulfilled at a Kroger store with the help of a health professional. The food as medicine trend could kick back up as people re-connect with more active lifestyles.
HiDef Announces Series A
HiDef has announced its launch alongside a $7.5M Series A financing round led by Wick Capital Partners. The company is led by CEO Anthony Castoro alongside Rick Fox, Jace Hall, and social impact consultant David Washington. According to the company’s website it intends to create games using the games-as-service model.