Deal Mania Across the Midwest and Beyond
Plus new funds for Minneapolis and Chicago firms.
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.
You can connect with me on Twitter @evanjlonergan, on Medium, and send deals/jobs/intel to evanlon92@gmail.com
What’s New
Excoastal Stats 📊
Last Week’s Open Rate: 37%
Last Week’s Views: 282
ICYMI: the Excoastal Investors Airtable sheet:
Midwest Venture Capital Firms and Angels
Venture Capital Deals
📍 Chicago
Civis Analytics, an audience campaign analytics company, raised $30.7 million in Series B funding from Alumni Ventures, Drive Capital, Verizon Ventures, and Silicon Valley Bank.
Zero Hash, a digital assets infrastructure startup, raised $35 million in Series C funding. Point72 Ventures led, joined by NYCA Partners, and DriveWealth.
Stable, an insurtech startup focused on commodity prices, raised $46.5 million in Series A funding. Greycroft led, joined by investors including Notion Capital, Anthemis, Continental Grain, Syngenta, and Ascot.
The Mom Project, the recruitment firm focused on moms, raised $80 million in Series C funding. Leeds Illuminate led, joined by 7GC, Initialized Capital, OCA Ventures, Citi, High Alpha, Grotech Ventures, and Silicon Valley Bank.
Prisidio, maker of secure personal-data storage products, raised $3.5 million in seed funding. Chicago Ventures led, joined by OCA Ventures and Origin Ventures.
📍 Michigan
InvestNext, a Detroit-based maker of tech for real estate investment firms to raise and manage capital, raised $4.3 million in seed funding. Hyde Park Venture Partners led, joined by Detroit Venture Partners, Whitecap Venture Partners, Grand Ventures, and ID Ventures.
RoboTire, a robotics and automotive manufacturing company, raised $7.5 million in Series A funding. Discount Tire led, joined by Automotive Ventures, Detroit Venture Partners and 640 Oxford Ventures.
📍 Indiana
Intelinair, an Indianapolis-based provider of crop analytics, raised $20 million in Series B funding. Investors included Regulator Group, Scientia Ventures, Takiff, and SDMC.
📍 Ohio
Redi.Health, a Columbus-based health management tech company, raised $1.2 million from Mutual Capital Partners.
📍 Wisconsin
Fiveable, a Milwaukee-based virtual study hall for high schoolers, raised $4.2 million from BBG Ventures, Metrodora Ventures, Emerson Collective, Beta Boom, gener8tor, and Matchstick Ventures.
📍 Toronto
AutoLeap, a Toronto-based auto repair software startup, raised $18 million in Series A funding. Bain Capital Ventures led, joined by insider Threshold Ventures.
📍 St. Louis
Pluton Biosciences, a bioscience research company, raised $6.6 million. Better Ventures led, joined by Grantham Foundation, Fall Line Capital, First In Ventures, Wing Venture Capital, and Yield Lab Institute.
📍 Tennessee
Wayspring, a Nashville-based substance use disorder-focused company, raised $75 million from Valtruis, Centene Corporation, CareSource, and HLM Venture Partners.
Built Technologies, a Nashville-based construction finance platform, raised $125 million in Series D funding at a $1.5 billion valuation. TCV led, joined by Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures.
Thyme Care, a Nashville-based provider of oncology care, raised $22 million in funding. Andreessen Horowitz led, joined by investors including AlleyCorp, Frist Cressey Ventures, Casdin Capital, and Bessemer.
Ambition, a Chattanooga-based gamified sales management platform, raised $15.5 million in Series B funding led by Primus Capital.
📍 Omaha
Omaha National Group, a workers compensation insurance and payroll services company, raised $45 million in Series B funding led by Accomplice.
📍 Denver/Boulder
Sunday, a Denver-based lawn care startup, raised $50 million in Series C funding. BOND led, joined by Sequoia Capital, Forerunner Ventures, and Tusk Ventures.
Denver-based Elevate, an employee benefits startup, raised $12 million in Series A funding from Greycroft and Norwest.
Bolder Industries, a Boulder-based company converting end-of-life tires into petrochemicals, steel, raised $80 million. CIM Group and Aravaipa Ventures co-led the round, joined by Tauber Oil.
📍 Silicon Slopes
Pattern, a Lehi-based ecommerce accelerator, raised $225 million. Growth Lane led, joined by insiders like Ainge Advisory and KSV Global.
Atomic, a Salt Lake City-based payroll startup, raised $22 million in Series A funding. Core Innovation Capital led, joined by Portag3 Ventures and Greylock Capital Management.
📍 Texas
Elligo Health Research, an Austin-based electronic medical records miner, raised $135 million in new funding. Morgan Stanley Expansion Capital and Ally Bridge co-led, joined by Norwest Venture Partners.
Membersy, an Austin-based digital dental health company, raised $66 million from Spectrum Equity.
Olea Edge Analytics, a Austin-based edge computing platform for water utilities, raised $35 million in Series C funding led by Insight Partners.
Assembly, an Austin-based virtual meals company, raised $1.8 million in seed funding. Wilshire Lane Partners and Acrew Capital co-led.
Otto, a Dallas-based startup that lets users leverage their car equity for loans, raised $4.5 million in seed funding. Uncommon Capital led, joined by Pelion Venture Partners, 1930 Capital, Bloom VP, and Spacecadet Ventures.
Alpha Paw, an Austin-based maker of breed-specific pet foods, raised $8 million in Series A funding from Nordic Eye.
📍 Arizona
Botco.ai, a Scottsdale-based conversational marketing company, raised an additional $1.6 million in seed funding from VamosVentures.
Private Equity Deals
Housatonic Partners invested in Veridic Solutions, a Dallas-based cloud and digital transformation services company.
Silver Lake invested in Pro Football Focus, a Cincinnati-based sports data firm owned by ex-NFL player Chris Colinsworth.
Brentwood Associates invested in Service Management Group, a Kansas City-based provider of customer, patient and employee experience software.
M&A
Sinch agreed to acquire Pathwire, a San Antonio-based marketing email delivery provider, for around $1.9 billion.
New Funds
Vensana Capital, a Minneapolis-based med-tech VC firm, raised $325 million for its second fund.
Energize Ventures, a Chicago-based venture capital firm, raised $330 million for its second fund.
G Squared, a Chicago-based growth-stage venture capital firm, raised $1.2 billion for G Squared V.
Startup/VC Twitter
Podcast Addiction
Culture Break
📚Read- Nothing new here this week.
🎬Watch- Succession is back on HBO!
🎧Listen-
🧐Think- White Riot
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