Sunday, February 18, 2018
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Roostify Closes $25 Million

Roostify, a leading digital lending platform provider, today announced the completion of a $25 million Series B round of financing. The round included new investments from Cota Capital, Point72 Ventures, and Santander Innoventures, and the venture capital arm of Banco Santander. Additional funding came from previous investors JPMorgan Chase, Colchis Capital, and a subsidiary of USAA.

Roostify, launched in 2014 with the aim of speeding up the mortgage process and eliminating paper-bound inefficiencies, has grown into an enterprise-class digital lending platform used by lenders across the U.S. to accelerate, simplify, and reduce costs around the origination process. Roostify’s cloud-based, API-enabled, partner-friendly solution allows lenders to offer their clients a seamless, branded experience from searching to closing their home loans.


Dash Robotics Raises $2.7 Million

Dash Robotics, a Silicon Valley hardware startup developing futuristic, app-controlled robots, today announced it has raised $2.7 million in funding, led by Ironfire Ventures.

During the 2017 holiday season, Dash Robotics made a big-box debut of its first product in partnership with Mattel, Inc. The products, Kamigami Robots, are currently available at Amazon, Target, Toys”R”Us, and other major retail locations. The company plans to use the new funding to partner with large toy and entertainment companies to bring more connected toys to life.

Kamigami, a series of $49 robot kits, was one of the most sought-after children’s products of the 2017 holiday season. Once assembled, the Kamigami robots can be programmed or steered remotely using a mobile device.


DroneBase Secures $12 Million in Series B Funding

DroneBase today announced it has raised $12 million in Series B funding to continue expanding its drone operations services for enterprises. Union Square Ventures and Upfront Ventures co-led the round, alongside DJI and new investors Hearst Ventures and the Pritzker Group.

DroneBase, located in Los Angeles, provides a platform for aerial images and data for worldwide enterprise commercial clients across multiple industries. According to the company, DroneBase recently completed more than 100,000 drone missions for enterprise clients across multiple industries such as real estate, insurance, telecommunications, construction, and media.

With the new funding, DroneBase will focus on expanding its enterprise offering to include AirCraft Pro, an augmented reality technology for both recreational and commercial drone use. AirCraft Pro  will be available later this year.


Reflektive Closes $60 Million

Reflektive, a real-time performance management cloud company, today announced it has raised $60 million in Series C funding, led by TPG Growth. Existing investors Andreessen Horowitz and Lightspeed Venture Partners also participated.  

Reflektive offers a suite of core performance management applications for managers and employees to provide real-time feedback, set and manage goals, and conduct regular check-ins to improve engagement, skills development, and strategic alignment. Reflektive integrates with frequently used tools such as Slack, Gmail, and Outlook, enabling people seamlessly to incorporate feedback and goal alignment into their day-to-day workflows.

Reflektive plans to use the proceeds to invest in R&D into its cloud-based platform of people management solutions. The company plans to double its engineering team and expand go-to-market strategies worldwide.

Miso Robotics Secures $10 Million in Series B Funding

Miso Robotics, a robotics and artificial intelligence solutions company for restaurants and food providers, today announced it has secured $10 million in Series B financing, led by Acacia Research Corporation (NASDAQ: ACTG). Strategic investors participating in this funding round include Levy, an industry-leading sports and entertainment hospitality company, and OpenTable’s chief technology officer Joseph Essas.

Miso Robotics’ suite of collaborative, adaptable robotic kitchen assistants and its Miso AI platform are designed to boost productivity and improve food quality. Their goal is to enable restaurants and food providers to accommodate increasing customer expectations for fresher ingredients prepared quickly and consistently while keeping the cost of food down.

Miso Robotics plans to use the new capital to expand its suite of collaborative, adaptable robotic kitchen assistants and to broaden applications for Miso AI, the company’s machine learning cloud platform.

ENGAGE Talent Raises $3 Million

ENGAGE Talent, an AI software company that helps businesses identify and engage with passive candidates, has raised $3 million in new funding. Participating investors in the round include Revolution’s Rise of the Rest® Seed Fund, Refinery Ventures and Grand Ventures.

Among ENGAGE’s customers are Dell, Hilton, Allstate, Transamerica, Yoh, and Hudson RPO. ENGAGE has announced a number of innovations during the last year, most recently ENGAGE ME!, a new recruiting marketing engine. ENGAGE ME! not only automatically identifies the best candidates based on a recruiter’s specifications, but also the most effective ways to nurture them.

ENGAGE will use the new funds to continue developing its predictive recruiting technologies and to expand its R&D and success teams.

Varsity Tutors Raises $50 Million

Varsity Tutors announced today that it has closed a $50 million Series C funding round led by Learn Capital, with participation from The Chan Zuckerberg Initiative and existing investor TCV.

Varsity Tutors connects students with 40,000 experts in more than 1,000 subjects and tests. The company plans to increase those numbers substantially as it targets new verticals and new international markets. Varsity Tutors also intends to focus on new product innovation, including expansion of its Instant Tutoring product, which allows learners to connect with live experts in as little as 15 seconds in nearly 150 subjects.

According to the company, more than 100,000 students have relied on Varsity Tutors’ online, mobile and in-person live instruction to meet personal and professional goals. Learners have accessed more than three million hours of live instruction on the platform. In 2017, Varsity Tutors acquired First Tutors, the largest tutoring marketplace in Europe. It has also acquired four educational content websites to introduce Varsity Tutors to millions of new users.

ProsperWorks Broadens Leadership Team

On the heels of a $53 million funding round, CRM technology company ProsperWorks today announced it has appointed Jon Aniano as chief product officer, Morgan Norman as chief marketing officer and Niraj Shah as vice president of growth.

Previously, Aniano served as the senior vice president of product management for the Salesforce Service Cloud. He also served as head of product management at Salesforce’s Prior to Salesforce, Aniano helped lead cloud-based web chat startup Activa Live Chat to an acquisition by Salesforce in 2010.

Norman was previously the chief marketing officer of Dialpad, where he helped the business communications platform grow annual recurring revenue nearly five times in two years. Prior to Dialpad, Norman was chief creative officer and senior vice president of marketing at NetSuite and Zuora, and also held a marketing executive role at Microsoft’s Dynamics CRM division.

Shah previously helped Zendesk and Marin Software through successful IPOs, serving in leadership roles across sales, operations, and strategy. At Zendesk, Shah held a variety of management positions in marketing and sales focused on its growth division. At Marin, he served as a general manager, where he led the launch of its mid-market business unit.

“Jon, Morgan and Niraj bring a wealth of impressive experience scaling businesses quickly and building multi-billion dollar companies, which is exactly what we need to accelerate our growth,” said Jon Lee, ProsperWorks CEO. “Bringing them on board makes us even more confident in our ability to fulfill our mission to shift how companies manage relationships.”

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SEEVA Closes $2 Million

SEEVA today announced it has raised $2 million in seed funding from Trucks VC, Dynamo VC, Expansion VC, Haystack VC and Revolution’s Rise of the Rest Seed Fund®.

SEEVA designs visibility systems for mobility. The company’s first proprietary product, SEEVAtherm, quickly cleans windshields, cameras, LIDAR and other sensors to help vehicles see more safely and reliably. Founded in 2016, SEEVA is a graduate of the Techstars Mobility program and is dually headquartered in Seattle and Detroit.

SaltStack Completes Series A Round of $28 Million

SaltStack today announced a $15.5 million Series A financing round led by Mercato Partners. This new close is additive to previous investments from Peak Capital, Epic Ventures and Deep Fork Capital, bringing total the SaltStack funding round to $28 million.

SaltStack is an event-driven automation platform used for configuration management, security compliance, and orchestration of hybrid cloud, network, IoT and application environments at scale. In 2017, SaltStack launched SaltStack Enterprise, an IT management solution built to scale and replicate human intelligence for more efficient and autonomic infrastructure.

SaltStack plans to use this investment to hire talent across the organization, with specific emphasis on increasing its product and engineering output and extending sales and marketing programs to accelerate adoption of SaltStack Enterprise.

Perception Point Announces $8 Million in Series A Funding

Cybersecurity company Perception Point today announced it has raised $8 million in Series A funding. The round was led by Pitango Venture Capital, along with State of Mind Ventures (SOMV) and Korea Investment Partners (KIP).  

Perception Point was founded in 2015 by Israeli cyber-intelligence experts. It uses proprietary algorithms to examine data at an earlier stage than other cyber-intelligence options, directly accessing a computer system’s CPU to detect and prevent attacks prior to exploitation without delays or scale limitations. The company’s initial product is a cloud-based, multi-layer e-mail protection solution that protects against every level of threat, from phishing through to the most sophisticated attacks, known as N-Days and Zero Days.


SpotHero Partners With Hertz

Parking reservation service SpotHero has announced a partnership with Hertz, one of the world’s most recognized car rental brands. The two companies say they are collaborating on a suite of mobility solutions to make parking easier for Hertz’s rental car customers, beginning with the ability to find, book and pay for off-street parking directly from the Hertz mobile app in more than 50 major cities across North America.

Rental car customers often have difficulty finding parking, since they are frequently in unfamiliar cities facing time constraints and limited visibility into the parking costs. The partnership between SpotHero and Hertz aims to alleviate this stress and uncertainty with a mobile parking solution that provides renters with end-to-end predictability and control. Beyond offering easy parking, the two companies see additional future synergies in fleet management and connected car parking.