Kansas City-based ShotTracker raises $11M

Plus software for payroll, investment management, home services, and more...

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

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What’s New 

Excoastal Stats 📊

• Last Week’s Open Rate: 43%

• Last Week’s Views: 175

ICYMI: the Excoastal Investors Airtable sheet: 

Midwest Venture Capital Firms and Angels

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Venture Capital Deals 

📍 Chicago

Enfusion, a provider of investment management SaaS, has received a $150 million investment from Iconiq Capital, at a valuation of $1.5 billion. Additional investors include FTV Capital and Hillhouse Capital.

ThreeFlow (fka Watchtower), a provider of software for managing employee benefits, raised $8 million in a Series A funding round. Emergence Capital led and was joined by Equal Ventures and First Trust Capital Partners.

📍 Kansas City

ShotTracker, a sports analytics company, raised $11 million in funding. Evertz Technologies and Verizon Ventures led.

📍 Boulder/Denver

Neat Capital, a Boulder-based home financing platform, raised $22.5 million in Series B funding. Left Lane Ventures led, joined by American Family Ventures.

JumpCloud, a Louisville-based cloud directory platform provider, raised an additional $25 million in new Series E funding (bringing the round total to over $100m). BlackRock led, joined by H.I.G. Growth, OurCrowd, and return backer General Atlantic.

Gtmhub, a Denver-based provider of OKR-focused business orchestration software, raised $30 million in Series B funding. Insight Partners led, and was joined by Singular and return backers CRV and LaunchHub Ventures.

📍 Silicon Slopes

Lehi-based fintech data company MX, which provides software used by banks and credit unions to help aggregate, analyze, and visualize financial data, raised $300 million in a Series C financing. TPG Capital led.

JobNimbus, a Lehi-based provider of home services software, raised $53 million from Mainsail Partners.

📍 Texas

Gig Wage, a Dallas-based payroll platform, raised an additional $2.5 million in extended Series A funding led by Foundry Group.

M-Files, a Plano, Texas-based information management company, raised $80 million. Bregal Milestone led, and was joined by insiders Partech, Tesi, and Draper Esprit.

Molecula, an Austin-based store built for machine-scale analytics and A.I., raised $17.6 million in Series A funding. Drive Capital led the round and was joined by investors including TTV Capital and Tensility. Term Sheet

Bold Commerce, an Austin-based e-commerce technology company, raised $27 million ($35 million CAD) in Series B funding. OMERS Ventures led the round and was joined by investors including Whitecap Venture Partners and Round 13 Capital.

Private Equity Deals

Francisco Partners completed its purchase of Forcepoint, an Austin, Texas-based cybersecurity company, from Raytheon.

GIC, Siemens, Fidelity Management and Research, and Mubadala Investment Company invested $720 million in ThoughtWorks, a Chicago-based software consultancy, valuing it at $4.6 billion. Term Sheet

M&A

Omnigo Software, a St. Louis-based company, acquired Incident Response Technologies, a Denver-based provider of incident management solutions.

New Funds  

Detriot-based lower-middle-market investor O2 Investment Partners has closed its latest flagship fund on $270 million. 

Heritage Group, a Nashville-based healthcare-focused private equity firm, raised over  $300 million for its third fund. Term Sheet

What I’m Reading

10 Kansas City Startups to Watch in 2021

The State of Early Stage Funding in Chicago

Then & Now: No Nonsense Due Diligence

Trolling the Great Outdoors

Startup/VC Twitter

🌀 @HipCityReg

Jack is the CEO of twitter because he was simply cooler than the other cofounders That’s his moat, and SF will never understand this

Turner Novak @TurnerNovak

Since the Stitch Fix IPO in November of 2017 $AMZN +175% $SFIX +404%

Jonathan Ellis @JonREllis

If you don't think anything is happening in the Midwest, you're not paying attention

Chris Berry @ChrisBerryOH

“Tech outside Silicon Valley” is hot in the news right now. But in places like Ohio it's been happening. In just six months... - Root's $6 Billion IPO - Bold Penguin acquired by American Financial - RV Share's $100m raise - Olive's $225m raise - Within3's $100m raise

Bryce Roberts @bryce

2020 VC totals hit record highs, while VC deal volume near record lows. Mega rounds nearly 50% of total dollar volume:

axios.comTop of the Morning

freia lobo @freialobo

I can relate to Plaid as I too have experienced a months long process with a lot of paperwork only to be denied the visa

Podcast Addiction 

Between Two Hedges // building companies with one foot in and one foot outside Silicon Valley - Upside

Culture Break 

📚Read- The Man Who Ran Washington by Peter Baker and Susan Glasser (I read Peter Baker’s earlier book Days of Fire when I was in undergrad and it left a lasting impact. This book is a similar work, masterful in its attention to detail without losing the larger narrative.)

🎬Watch- Ted Lasso on Apple TV+

🎧Listen- 

🧐Think- A Former Marine Stormed the Capitol as Part of a Far-Right Militia

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