San Francisco-based Eaze, a provider of medicinal marijuana delivery services, announced it has raised $13 million in a Series B round of funding. The round was led by Fresh VC, an early-stage micro VC fund started by Shri Ganeshram (founder of FlightCar) and Brian Sheng (formerly with China’s Shenzen Capital Group. Also participating in the round are DCM Ventures, Tusk Ventures, Winklevoss Capital, Rose Capital and others. The company, founded in 2014, has now raised $25 million in funding.deal
Last week, Sequoia Capital announced something that one of my friends called “amazing.” The 44-year-old firm named Jess Lee the first female investment partner within the firm’s U.S. operations. It’s an amazing development because last year Sequoia Chairman Mike Moritz was roasted on Twitter for telling Emily Chang of Bloomberg TV, while discussing the lack of women partners, […]
Sequoia Capital named Jess Lee a U.S. investing partner, the first female VC in the firm’s 44-year history. Lee, who was co-founder and chief executive of fashion ecommerce site Polyvore, which Yahoo bought last year for about $200 million. Sequoia had been trying to recruit Lee to its roster since 2012, and she will start work on Nov. 7, according to Bloomberg. Lee, 33, will also be one of Sequoia’s youngest partners at the firm.
San Francisco-based TravelBank, which provides an app to help manage expense reporting and budgeting, launched today. The company also disclosed it had raised $10 million in Series A funding from New Enterprise Associates, Accel Partners and angel investors. TravelBank co-founder Duke Chung was previously founder of customer service software developer Parature, which Microsoft bought in 2014 or $100 million.
Omaha, Nebraska seed-stage investor Dundee Venture Capital, which recently held an initial close of $20 million for its third fund, announced the opening of a new office in the Minneapolis area. The location is part of its ongoing regional growth plan as it expands in the Midwest and raises Fund III targeted at $30 million.
Nashville, Tennessee-based axial Healthcare, a provider of pain management care solutions, announced it has raised a $16.5 million Series B round of funding. Oak HC/FT led the funding round, which included previous investors .406 Ventures, BlueCross BlueShield Venture Partners and Sandbox Advantage Fund. The company previously raised an $8 million Series A round.
Greylock Partners announced in a blog post that it has raised $1 billion for its 15th early-stage fund. The firm, which has backed the recently exited Apptio, Pure Storage, Quip and TellApart, raised virtually the same amount for its previous fund in 2013. U.S.-based venture funds have raised more than $33 billion in commitments through the first three quarters of the year, according to Thomson Reuters and Greylock’s is the seventh venture fund to close at $1 billion or more in 2016, according to Thomson Reuters.
Rishi Garg, 39, who previously ran corporate development and strategy for Twitter and Square, has joined Mayfield as a partner to focus on consumer Internet deals. He becomes the sixth investment partner at Menlo Park, California-based Mayfield, joining Rajeev Batra, Navin Chaddha, Tom Chang, Ursheet Parikh and Robin Vasan. Mayfield earlier this year raised $525 million combined for two new funds.
San Francisco-based Dealpath, which provides a commercial real estate platform, announced it has raised $8 million in Series A funding from a mix of venture firms, real estate developers and corporations, including Formation 8, LeFrak, Milstein, Bechtel, Goldcrest Capital and Deep Fork Capital. The company was founded in 2014.
Stephan Eberle has joined Scale Venture Partners as general counsel. His first day was Oct. 4. His bio says he will oversee fund and portfolio legal matters and is a point of contact for the firm’s limited partners. Before joining Scale, Eberle spent 17 years at Silicon Valley Bank, most recently as deputy general counsel.
St. Louis-based Cultivation Capital held a $20.5 million close on a $100 million targeted fund, according to a regulatory filing. The Cultivation Capital Fintech Fund raised the initial close from 30 investors, the filing reports. The firm was co-founded by General Partner Jim McKelvey, who’s co-founder of Square and remains on the board of the mobile payments company.
Promod Haque is definitely not slowing down, David Chao is high on China prospects and Venky Ganesan admits the venture community has hurt itself by not doing a better job recruiting and promoting women. Those were some of the takeaways from PartnerConnect West, which included VCJ‘s annual West Coast conference, Venture Alpha, at the Hotel […]
Palo Alto, California-based Contrast Security, a provider of software application security, announced it raised $16 million in a Series B round of funding. General Catalyst Partners led the round, which included Acero Capital, as well as individual investors Ron Gula, founder of Tenable Network Security; Paul Sagan, former chief executive of Akamai Technologies; and John W. Thompson, chairman of Microsoft Corp. The company has now raised $24 million in funding. As part of the latest round, Steve Herrod, managing director of General Catalyst, has joined the board.
Canvas Ventures, whose partners backed Houzz, Lending Club and Mulesoft, has wrapped up its second fund, reaching its hard cap of $300 million. The fund, which closed during the summer, is more than 70 percent larger than the firm’s previous early-stage fund in 2013, when the Portola Valley, California, firm raised $175 million in commitments.
Boston-based venture firm Pillar Companies, which is looking to raise a $100 million inaugural fund, has added Sarah Hodges as partner. Hodges had co-founded Intelligent.ly and is a former adviser with Flybridge Capital Partners. She also previously worked at Pluralsight, Smarterer and FitnessKeeper. She blogged about her joining Pillar on Medium.
New York-based Nucleus, which provides a connected home intercom that incorporates the Alexa Voice Service, announced it has raised $5.6 million in Series A funding. The Alexa Fund, a $100 million fund established last year by Amazon to invest in voice tech, led the round. It’s the first investment Alexa has led. Also participating in the Series A are BoxGroup, Greylock Partners, FF Angel (Founders Fund), Foxconn, Liquid 2 Ventures and SV Angel. Nucleus has now raised $10 million in funding since it was launched in 2014.
San Francisco-based Vlocity, a cloud software company developing customer service technology, announced it has raised $50 million in a funding round led by Sutter Hill Ventures. The round includes participation from strategic investors, including Salesforce Ventures, Accenture, New York Life, Kennet Partners, TDF Ventures and Wildcat Venture Partners. Vlocity, which previously raised a $42.8 million Series A round in April 2015 led by Salesforce, has now raised $92.8 million in funding.
Dundee Venture Capital, an Omaha, Nebraska, seed-stage firm that invests in Midwest startups, said it held an initial close of $20 million for its third fund and partnered with Lakewest Venture Partners in Chicago. Lakewest Co-Founder David Mann will join the Dundee team, which includes Founder Mark Hasebroock and Partners Beth Engel and Greg Beaufait.