Excoastal Issue 61

Social impact shopping, cybersecurity, and healthcare software.

Sep 20, 2020

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: 42%
Last Week’s Views: 171

ICYMI: the Excoastal Investors Airtable sheet:

Midwest Venture Capital Firms and Angels

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Venture Capital Deals

📍 Chicago

ShoppingGives, a platform that offers social impact and donation processing for retailers, has raised $5.5 million in Seed funding. Caffeinated Capital led the round, joined by investors including Tuesday Capital, SciFi VC, Background Capital, Red Dog Capital, 20VC, Global Founders Capital, Big Future Fund, Rogue Capital, Night Capital, Manresa Ventures, and Sugar Capital. Term Sheet

📍 Detroit

AaDya Security, a cybersecurity startup, raised $2.7 million in seed funding. Investors include Firebrand Ventures, 645 Ventures, and Next Coast Ventures.

📍 Columbus

Olive, an Ohio-based provider of AI-powered software for hospital systems that helps reduce costs and automate tasks, raised $106 million. General Catalyst and Drive Capital co-led and were joined by Ascension Ventures, Oak HC/FT, and SVB Capital.

📍 Minneapolis

Wisdom Gaming Group, an e-sports content company, raised $3 million in Series A funding led by Excelsior Ventures.

📍 Indiana

JupiterOne, an Indianapolis-based cyber asset management automation startup, raised $19 million in Series A funding. Bain Capital Ventures led, and was joined by Rain Capital and LifeOmic.

Bloomerang, an Indianapolis-based provider of nonprofit donor management software, raised an undisclosed amount of financing from JMI Equity.

📍 St. Louis

TCare, a support platform for family caregivers, raised $3 million. SixThirty Ventures led, and was joined by Aflac Ventures, BlueCross BlueShield MN, Blu Ventures, Village Capital, Connetic Ventures, and Gener8tor Fund.

📍 Pittsburgh

Seegrid Corporation, a maker of self-driving industrial vehicles for material handling, raised an additional $27 million in funding adding to a $25 million round announced earlier this year.

📍 Toronto

OnCall Health, a provider of virtual care software to healthcare providers, raised $6 million in Series A funding. Base10 Partners led the round and was joined by investors including Ripple Ventures, Panache Ventures, and Stout Street Capital. Term Sheet

📍 Silicon Slopes

eFileCabinet, a Lehi, Utah-based document management startup, raised $11.5 million in Series C funding. Allegis Capital and Signal Peak Ventures co-led, and were joined by Camden Partners, Allegis Nippon Life, and Oquirrh Ventures.

📍 Texas

Austin-based data.world, a startup that creates cloud-native catalog maps of an enterprise’s data, closed on an oversubscribed $26 million round of venture capital funding. The round was led by Tech Pioneers Fund and joined by investors including Breyer Capital, Prologis Ventures, Alumni Ventures Group, Shasta Ventures, OurCrowd, and Workday Ventures.

Private Equity Deals

Thomas H. Lee Partners acquired Insurance Technologies, a Colorado Springs-based provider of sales and regulatory automation software to the insurance and financial services industries, from NexPhase Capital.

Highlander Partners acquired Hilo Nutrition, a Columbus, Ohio-based maker of pre-workout gummies.

Clearlake Capital Group agreed to buy Zywave, a Milwaukee-based provider of front office insurance SaaS, from Aurora Capital Partners.

Thoma Bravo is seeking a buyer for Planview, an Austin, Texas-based provider of portfolio and resource management SaaS, per PE Hub.

M&A

Ericsson agreed to buy Cradlepoint, a Boise, Idaho-based wireless networking company focused on distributed enterprises, for $1.1 billion. Cradlepoint had raised around $165 million from firms like TCV, Sorenson Capital, Delta-v Capital, and The Caprock Group. Axios

New Funds

Chicago-based GCM Grosvenor has closed its first Labor Impact Fund on $893 million, with plans to use the capital to invest in infrastructure products that rely in part on union labor according to Pitchbook.

Others

Palantir Technologies, the Denver-based big data/government contracts company, plans to list on the NYSE on September 29.

Culture Break

📚Read- Devil in the Grove by Gilbert King

🎬Watch- Marshall (film) on Showtime

🎧Listen-

🧐Think- How Cameo Blew Up During Quarantine

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