Upfront Healthcare brings in $11.5 million in a Series B
Plus two prop-tech deals in Chicago and Indiana, data, and language learning.
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: 36%
Last Week’s Views: 157
ICYMI: the Excoastal Investors Airtable sheet:
Midwest Venture Capital Firms and Angels
Excoastal will be off next week!
I’ll be taking exams next week and the week after. Have a safe and happy Thanksgiving however you’re able to celebrate it this year! 🦃 🍂 👨🏻💻
Venture Capital Deals
📍 Chicago
NestEgg, a management app for single-family and small multifamily homes, raised $7 million in Series A funding. Hyde Park Venture Partners led, and was joined by BAM Ventures, Bonfire Ventures, Financial Studio Ventures, Dreamit Ventures, and Hyde Park Angels.
Upfront Healthcare, a communication, and patient engagement platform raised $11.5 million in Series B funding. Baird Capital and LRVHealth co-led the round and were joined by Echo Health Ventures, Nashville Capital Network, and Hyde Park Venture Partners.
📍 Indiana
Realync Corp., a Carmel-based multifamily virtual leasing site, raised $22 million. Susquehanna Growth Equity invested. Term Sheet
📍 Pittsburgh
Language-learning platform Duolingo, raised $35 million in funding at a $2.4 billion valuation from Durable Capital Partners and General Atlantic.
📍 Toronto
Aya Payments, a healthcare payments startup, raised $2.9 million in funding. MaRS Investment Accelerator Fund and Luge Capital co-led the round, joined by Anthemis Group, BDC Capital, and StandUp Ventures.
📍 Boulder/Denver
Highwing, a Denver-based open data platform for insurance brokers and carriers, raised $4 million in seed funding co-led by Baldwin Risk Partners and BrokerTech Ventures.
Nymbl Science, a Denver-based provider of a fall prevention solution in the healthcare space, raised $4 million in Series A funding. Cobalt Ventures led the round. Term Sheet
📍 Texas
Austin-based ZenBusiness, a provider of micro-business formation and management platform, raised $55 million in Series B funding. Cathay Innovation led, joined by GreatPoint Ventures, Breyer Capital, Omega Venture Partners, and return backers Greycroft, Lerer Hippeau, Interlock Partners, Mark VC and ATX Venture Partners.
ClosedLoop.ai, an Austin-based developer of an AI-driven platform to help medical professionals predict likely patient outcomes, raised $11 million in Series A funding. Greycroft and .406 Ventures led the round and were joined by investors including Silicon Valley Bank and Meridian Street Capital. Term Sheet
ActivTrak has raised $50 million in a round led by Sapphire Ventures, with participation from Elsewhere Partners according to Pitchbook. The Austin-based company is the developer of a productivity analytics platform designed to monitor employee performance.
Private Equity Deals
Warburg Pincus invested in Quantum Health, a Columbus-based consumer healthcare company.
General Atlantic invested in Torchy’s Tacos, an Austin-based Taco restaurant, alongside D1 Capital Partners, T. Rowe Price, and Lone Pine Capital.
DW Healthcare Partners invested in CareXM, a Lehi, Utah-based provider of virtual care and patient engagement solutions for post-acute and non-acute health care providers. Axios
M&A
Wunderkind, formerly BounceX, plans to acquire SmarterHQ, an Indianapolis-based provider of a marketing platform. SmarterHQ is backed by investors including Battery Ventures.
AutoQuotes, backed by Luminate Capital Partners, acquired Axonom, a Minnesota-based provider of virtual reality technologies.
Belcan acquired Avista, a Platteville, Wisconsin-based provider of software engineering services to those in the aerospace, defense, industrial, and medical industries. Term Sheet
New Funds
Nashville-based Council Capital has closed its fourth fund on $200 million in outside commitments. The fund primarily targets lower-middle-market investments in the healthcare services and healthcare IT sectors.
Others
What I’m Reading
The New Status Game for Companies: Fewer Employees
Sports Tech Startups Find A Homebase In Indianapolis
The (Neo) Bank Bundle & Transition to Subscription Revenue
Startup/VC Twitter
Podcast Addiction
David Willbrand: An Attorney's Perspective on Startups and the Legal Implications of Big Tech - Middle Tech
Culture Break
📚Read- The Spymasters by Chris Wipple
🎬Watch- The Queen’s Gambit - Netflix
🎧Listen-
🧐Think- The Thanksgiving Myth Gets a Deeper Look This Year
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