Silicon Valley Startup BlueVine Gains Additional $12 Million

BlueVine raised another $12 million from new investors M12, Microsoft’s venture fund, and the venture arm of insurance and financial services provider, Nationwide. The announcement comes eight weeks after BlueVine, a provider of online working capital financing to small and medium-sized businesses, said it had secured $60 million from Menlo Ventures and SVB Capital.

BlueVine, which now has more than 200 employees in Redwood City, New Jersey, New Orleans and Israel, is marking its fifth anniversary. Launched in July 2013, the Silicon Valley startup said its total funding volume since inception has topped $1 billion.