(Group 11) | News
79
archive,paged,category,category-news,category-79,paged-2,category-paged-2,ajax_fade,page_not_loaded,,select-child-theme-ver-1.0.0,select-theme-ver-1.3,vertical_menu_enabled, vertical_menu_transparency vertical_menu_transparency_on,wpb-js-composer js-comp-ver-4.3.4,vc_responsive

American Express invests in insurance startup Next Insurance

BY Anna Irrera | Reuters | June 20th, 2017

American Express Co has invested in Next Insurance, a Palo Alto-based technology startup that sells customized insurance for small businesses online, as Silicon Valley companies look to shake up the insurance sector.

Next Insurance, which raised $29 million in May from investors led by reinsurer Munich Re’s HSB Ventures, said on Tuesday that American Express’s venture capital arm has joined the investor group. Next Insurance will use the new cash injection, which brings the investment round to $35 million, to expand the products it offers and target new business sectors, the company said.

Read the full article here.

Why this startup CEO went to the White House alongside Tim Cook and Jeff Bezos

BY CNN Money | by Aimee Rawlins | June 19th, 2017

The CEOs of some of the world’s biggest tech companies descended on the White House Monday — along with a few people who aren’t yet household names. One of those is Zachary Bookman, CEO of OpenGov. Launched in 2012, OpenGov focuses on helping state and local governments streamline their systems. Think opening up the budget process, setting trackable goals and being more transparent with constituents.

The state of Ohio, which used OpenGov to drill down on local spending, went from #46 in financial transparency to #1, according to the U.S. Public Interest Research Group. Meanwhile an official in Ivins, Utah (population 8,000) was able to cut his budgeting time in half using OpenGov. His experience made Bookman a perfect fit for Monday’s meetings, which were geared toward modernizing the federal government.

Read the full article here.

Fintech start-up SoFi is moving into traditional banking

BY LA Times | by AP | June 13th, 2017

Online lender and financial start-up SoFi has taken the first step toward competing with the nation’s biggest banks on their home turf: the checking account.

Last week, the San Francisco provider of student and personal loans submitted an application for federal deposit insurance, a protection normally available only to conventional banks. In its application, the company said its SoFi Bank subsidiary will offer bread-and-butter banking products, including checking accounts, debit cards and eventually credit cards.

Read the full article here.

Addepar raises $140 million to help rich people manage their assets

BY Paul Sawers | VentureBeat | June 9th, 2017

Addepar, a company that touts itself as the “operating system for the financial world,” has raised a whopping $140 million in a series D round of funding led by Valor Equity Partners, 8VC, and QuantRes founder Harald McPike.

Founded out of Mountain View, Calif. in 2009, Addepar is a data-driven investment management platform targeted at financial advisers, who use the software to track assets and “visualize” information for their clients. The company also offers APIs to integrate with third-party products, including Salesforce Financial Services Cloud. The company said that it works with hundreds of advisers, endowments, and major financial institutions, with more than $650 billion in assets funneled through its platform — up from $300 billion 18 months ago.

Read the full article here.

For OpenGov, President Trump is proving a boon for business

BY Connie Loizos | TechCrunch | Jan 24th, 2017

OpenGov, a Redwood City, Ca., company whose software helps local governments keep transparent financial records, has been picking up speed in a variety of ways, and co-founder and CEO Zac Bookman traces some of that momentum to the election of Donald Trump as U.S. president.

“We had the best Q1 in company history. It’s typically a quiet quarter, and we blew the top off” our internal projections, says Bookman…

Given the Trump “bump,” we ask Bookman — who has already raised $47 million for OpenGov and will announce a Series C round this year — if he has observed whether governments in so-called blue states and red states are distinct in any way. We ask if they use different products or whether their attitude toward the company itself is discernibly different.

Read the full article here.

Flower delivery startup The Bouqs raises $24 million to grow past its many competitors

BY Sarah Buhr | TechCrunch | Jan 30th, 2017

There’s a field full of flower delivery services to choose from these days from the old school 1-800-flowers and FTD to startups popping up over the last few years like BloomThat, Farmgirl Flowers, UrbanStems and The Bouqs.

That last one just raised $24 million in Series C financing, bringing the total now to $43 million. The Bouqs doesn’t quite roll off the tongue but that fresh new funding puts it at the top of the heap in capital raised among on-demand flower startups.

Read the full article here.

SoFi Looks to Raise $500 Million in Latest Test for Fintech

By Peter Rudegeair | Wall Street Journal | Sept 7, 2016

A deal would be one of the largest U.S. fintech funding rounds of the year

Online lender Social Finance Inc. is pitching a new fundraising effort as it looks to buck a recent slump in the industry, according to people familiar with the matter. Privately held SoFi hopes to raise about $500 million in equity to fund new growth initiatives among mass-market borrowers and international markets, according to the people and a presentation reviewed by The Wall Street Journal. The round is likely weeks away…

Read the Full Article on the Wall Street Journal Here.

SkyGiraffe raises $6M for its enterprise mobility platform

By Frederic Lardinois | TechCrunch

SkyGiraffe helps enterprises give their employees access to their line-of-business apps and enterprise data from virtually any device. The company today announced that it has raised a $6 million funding round led by SGVC, with participation from Trilogy Equity Partners and a number of angel investors, including Heroku founder and CEO James Lindenbaum, Lookout founder and CTO Kevin Mahaffey and Parse founder and CEO Ilya Sukhar.

SkyGiraffe does a couple of things. It helps businesses connect and aggregate data from their various on-premises and cloud-based applications and lets them build new apps or bring existing apps to iOS, Android and Windows. The company argues that its approach allows enterprises to bring their cross-platform development cycles down to a day, compared to the months it would take to develop custom apps for iOS and Android, for example…

Read the Full Article Here on TechCrunch.

With $17M in seed funding, RedKix wants to combine the best of email and chat

By Frederic Lardinois | TechCrunch

Lots of startups want to reinvent email, and some, like Slack, occasionally manage to change the way we work. At the end of the day, though, email isn’t going away and company-wide collaboration tools only really work when everybody is on the same platform.

RedKix, which is launching its private beta today, has raised $17 million in seed funding from a group of high-profile investors to bring together the best aspects of Slack and other collaboration tools with the simplicity and ubiquity of email. The company’s funders include Salesforce Ventures, Wicklow Capital, SG VC, Oren Zeev, Ori Sasson (one of the first investors in VMware), and others.

It’s not often that we see startups that raise $17 million in seed funding, but as RedKix CEO and co-founder Oudi Antebi told me, the company needed this kind of backing because of the complexity of the technology it is developing…

Read the Full Article Here on TechCrunch.

SGVC raises $50 mln for second fund

By Alastair Goldfisher | PE Hub | May 11, 2016

Beverly Hills, California-based SGVC has raised a little more than $50 million for its second fund, SG VC Fund II, from 81 investors, according to a regulatory filing.

The firm was founded in 2012 by Managing Partner Dovi Frances as the venture arm of SG, a global advisory firm. His LinkedIn profile says he acquired the SGVC portfolio from SG last year. SGVC invests in early-stage tech companies in Los Angeles, Silicon Valley and Israel and has backed RadPad, SoFi and Sidecar, among others, according to its website.

Read Original Article Here on PE Hub.