Plus a busy week in Texas, medical data in Madison, and a Series B for Foxtrot Market
|Evan Lonergan||Feb 28||1|
Welcome to Excoastal, a newsletter covering deals, startups, venture capital, and more from Chicago to Boulder, Detroit to Columbus, and beyond. I’m Evan Lonergan, a native Midwesterner.
Excoastal Stats 📊
Last Week’s Open Rate: 38%
Last Week’s Views: 219
ICYMI: the Excoastal Investors Airtable sheet:
Venture Capital Deals
Chicago-based Foxtrot Market, an online and offline upscale convenience store chain, raised $42 million in Series B funding co-led by Almanac Insights and Monogram Capital Partners. The company operates brick-and-mortar stores offering products from nearby retailers, as well with an app-based delivery platform.
Natural Fiber Welding, a Peoria-based textile fibers company, raised $2 million from shoemaker Allbirds.
Redox, a Madison-based healthcare data company, raised $45 million in Series D funding. Adams Street Partners led the round, joined by Avenir, Battery Ventures, .406 Ventures, and RRE Ventures.
TradeCafe, a B2B marketplace for protein commodities, raised C$10 million from Round13 Capital.
📍 Silicon Slopes
Pocket Outdoor Media, a Boulder-based creator of active lifestyle content and experiences, raised $150 million in Series B funding. Sequoia Heritage led and was joined by JAZZ Ventures, Zone 5 Ventures, and NEXT Ventures.
Austin-based FloorFound, developer of a service that facilitates returns and resales of oversized products for e-commerce retailers, raised $4 million in a seed funding round led by LiveOak Venture Partners.
Episode Six, an Austin-based payment processing and banking infrastructure company, raised an additional $30 million. Investors include HSBC, Mastercard, SBI Investment Co., and Anthos Capital. Term Sheet
Sunroom Rentals, an Austin-based real estate software startup, raised $11 million in a Series A round led by Gigafund.
Katana Graph, an Austin, Texas-based graph processing company, raised $28.5 million in Series A funding. Intel Capital led with participation from WRVI Capital, Nepenthe Capital, Dell Technologies Capital, and Redline Capital.
VenoStent, a Houston-based developer of polymers for vascular surgery, raised $2.3 million in seed funding. Creative Ventures led the round and was joined by investors including IAG Capital Partners, C3 Ventures, Olima Ventures, Texas Halo Fund, Cowtown Angels, and SP Investment Fund. Term Sheet
Private Equity Deals
Abry Partners made a minority investment in Kingland Systems, an Iowa-based provider of enterprise data software for the financial sector.
Buildout acquired Rethink, an Austin-based provider of commercial real estate deal-making tech.
AsTech acquired adasThink, a Toronto-based car calibration software company.
Cision, a Chicago-based portfolio company of Platinum Equity, agreed to buy Brandwatch, a British social media listening platform, for $450 million. Axios
Lightbank, a Chicago-based VC firm, raised $180 million for its second fund.
Austin-based Peak Rock Capital has raised about $1.6 billion out of a planned $1.8 billion for its third fund.
Alta Partners, a San Francisco and Denver-based early-stage healthcare venture capital firm, closed Alta Partners NextGen Fund III with $275 million. Term Sheet
Peterson Private Equity, a Salt Laker City-based firm focused on small and mid-cap businesses, raised $225 million for its ninth fund.
CORE Industrial Partners, a Chicago-based PE firm, raised $465 million for its second fund.
Fintech startup Brex, which provides business credit cards to technology startups, has filed to create a bank based in Draper, Utah. The company has hired Silicon Valley Bank veteran Bruce Wallace to be Brex Bank's potential CEO. Brex raised $150 million last May in a round led by DST Global, valuing the company at $2.75 billion, according to PitchBook.
What I’m Reading
Chamath Palihapitiya - The Major Problems Facing The World - Invest Like the Best
📚Read- Reagan Land by Rick Pearlstein
🎬Watch- Nothing new this week. I’ve had a busy schedule lately but if you have any interesting TV or film recommendations, send them my way.
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