PitchBook News - Stripe valuation soars to $36B

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The Daily Pitch: VC

April 17, 2020

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Today's Top Stories

Stripe pockets $600M as business and consumer confidence plummets

Stripe CEO Patrick Collison (left) onstage at the WIRED25 Summit on Nov. 8, 2019 (Matt Winkelmeyer/Getty Images)

For businesses whose models depend on people and companies spending large volumes of money, a rapidly accelerating recession might seem like cause for panic. But America's payments startups are loading up with cash and talking about growth.

Case in point: Stripe announced Thursday that it has raised a record-setting $600 million to help it capitalize on a global increase in ecommerce and digital payments:

Recommended Reads

For Snowflake and the enterprise software darling's CEO, Frank Slootman, the current crisis is putting plans for an IPO—plus plenty of other things—in a very different light. [Protocol]

Lee Holloway was a brilliant coder who helped turn Cloudflare into a colossus. Then, a devastating decline began. [Wired]

While a pandemic began to unfold, Carnival cruise ships encouraged their passengers to keep the party going. Now, the deaths and the lawsuits are beginning to mount. [Bloomberg]

On reading "The Plague" during a plague. [The Believer]

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Today's Headlines


	The Daily Benchmark
	2005 Vintage Global Real Assets Funds
	VC Deals
	Robinhood seeks $250M at $8B valuation
	Vast Data secures $100M
	Taxfix banks $65M Series C
	Lucid inks $52M
	NoBroker nabs $30M from General Atlantic
	Anodot secures $35M
	Exits
	Verizon to buy videoconferencing startup BlueJeans
	Edison exits Clearpool
	Fundraising
	Dragoneer readies new fund

The Daily Benchmark

2005 Vintage Global Real Assets Funds

Median IRR

1.26%

Top Quartile IRR Hurdle Rate

5.00%

1.01x

Median TVPI

Select top performers

Och-Ziff Real Estate Fund

Westbrook Real Estate Partners V

SCF-VI

*IRR: net of fees

32 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Robinhood seeks $250M at $8B valuation

Online brokerage Robinhood is in talks to raise roughly $250 million in a round led by Sequoia that would give the company a pre-money worth of $8 billion, according to Bloomberg. The Bay Area company, which was valued at $7.6 billion last year, suffered from platform outages in March amid stock market turmoil.

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Vast Data secures $100M

New York-based Vast Data has raised a $100 million Series C led by Next47, Siemens' corporate venture arm. Other investors in the round included 83North, Dell Technologies Capital, Goldman Sachs and Norwest. The funding brings the data storage startup's valuation to about $1.2 billion.

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Taxfix banks $65M Series C

Index Ventures has led a $65 million investment in Taxfix, according to TechCrunch. The Berlin-based business offers an app to automate tax filings. Index Ventures partner Neil Rimer will join Taxfix's board.

Additional Investors:

Valar Ventures, Creandum, Redalpine

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Lucid inks $52M

Lucid has raised $52 million in a round led by Iconiq Capital, with participation from Meritech Capital, Spectrum Equity and Cross Creek. Lucid develops collaborative tools used to create diagrams and flowcharts. Based in Utah, the company counts Google, Salesforce and Microsoft among its partners.

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NoBroker nabs $30M from General Atlantic

Indian real estate tech startup NoBroker has raised $30 million from General Atlantic, bringing its Series D to $80 million, according to TechCrunch. The company runs a platform for renting and buying residences across India, where the population of more than 1.3 billion people is under a lockdown order that has largely halted economic activity.

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Anodot secures $35M

Anodot has raised a $35 million Series C led by Intel Capital, with participation from SoftBank Ventures Asia, Samsung Next and La Maison. Founded in 2014, the company is a provider of data analytics intended to forecast business performance in real time.

Additional Investors:

Aleph, Disruptive Technologies Venture Capital, Redline Capital Management

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Exits

Verizon to buy videoconferencing startup BlueJeans

Verizon has agreed to buy BlueJeans Network, a videoconferencing rival to Zoom, as global lockdown measures force work teams online. The communications giant will pay less than $500 million, according to The Wall Street Journal. BlueJeans previously raised $175 million from investors including NEA, Battery Ventures, Accel and Norwest Venture Partners, reaching a $728 million valuation in 2015, according to PitchBook data.

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Edison exits Clearpool

New Jersey-based Edison Partners has completed its sale of Clearpool Group to BMO Financial Group, a Canadian investment bank, according to reports. Edison took part in an $8 million Series A round in 2015 for the New York-based provider of electronic trading software.

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Fundraising

Dragoneer readies new fund

San Francisco-based growth investor Dragoneer Investment Group has registered its fifth opportunities fund with the SEC. Dragoneer's portfolio of previous tech investments includes names such as Airbnb, Facebook and Netflix.

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View 61 investments »