Visual milestones in Robinhood's journey

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The Daily Pitch: VC

July 30, 2021

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

Today's Top Stories

Robinhood's IPO: Visual milestones of a fintech journey

Robinhood stock had a lackluster debut in its first day of Nasdaq trading in one of the biggest initial public offerings of 2021.

In an interactive infographic, PitchBook News has mapped out the milestones of Robinhood's $5.6 billion private-market timeline, its IPO deal terms and some key measures of the company's growth and financial performance.

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Autonomous technology is a good fit for the trucking industry

(hwanchul/Getty Images)

Autonomous trucking technology can potentially solve many of the challenges faced by carriers today. From alleviating labor shortages to improving margins, self-driving technologies such as camera-based perception systems and light detection and ranging hold significant potential for use in long stretches of highway driving.

PitchBook's latest analyst note explores the major trends that have shaped the autonomous trucking industry in 2021, including why it may be the first area of the driverless vehicle sector to adopt self-driving technologies on a large commercial scale. Key insights include:

In the first half of 2021, investors poured a record $5.6 billion into autonomous trucking companies such as TuSimple and Plus, eclipsing the $4.2 billion invested in all of 2020.

PitchBook's unit economics analysis illustrates that autonomous driving technology could reduce the cost of trucking from $1.65 per mile to $1.30 per mile by mid-decade.

The industry is attracting a broad set of investors, including industry incumbents and trucking logistics providers. As a result, valuations for autonomous trucking startups are climbing more quickly than startup valuations in the robotaxi industry.

Autonomous trucks will face difficulties in commercializing at scale until clear regulatory guidelines are established for testing, deployment, driver licensing and driver hours of service.

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A message from NetSuite and ContinuServe

NetSuite and ContinuServe join forces to deliver carveouts at deal speed

ContinuServe uses NetSuite technology to deliver carveouts in a new solution that brings the leading cloud-based enterprise resource planning solution together with a premier business process outsourcing provider.

ContinuServe acquires NetSuite on behalf of the client and drives the technology carveout using proprietary tools to stand up a functional enterprise class NetSuite solution faster than comparable solutions. Once the business is operational, ContinuServe seamlessly transitions ownership of the system without a need for reimplementation or data migration, reducing risk and financial strain on both the private equity firm and the carveout.

NetSuite's preconfigured industry-specific ERP solution is the leading cloud-native solution and the No. 1 solution for carveouts.

To learn more about this new solution and how it drives value, download this compelling white paper.

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Recommended Reads

Due to pushback from the Chinese government, ridehailing company Didi Global is considering going private only a month after its IPO. [The Wall Street Journal]

New VC-backed rapid grocery delivery startups are continuing to hit the market with promises of shorter and shorter delivery times. [The New York Times]

Amid Biden-era antitrust crackdowns, will Microsoft escape the scrutiny of regulators this time around? [The Atlantic]

Since yesterday, the PitchBook Platform added:

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VC valuations

1746

People

493

Companies

25

Funds

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Quick Takes


	The Daily Benchmark
	2017 Vintage European Venture Funds
	VC Deals
	Exo lands $220M Series C
	Latin American property marketplace adds to Series B
	Australia's Culture Amp brings in $100M Series F
	Homebase picks up $71M

The Daily Benchmark

2017 Vintage European Venture Funds

Median IRR

30.69%

Top Quartile IRR Hurdle Rate

46.41%

1.10x

Median TVPI

Select top performers

Target Global Early Stage Fund I

Seaya Ventures II FCR

F/I Venture

*IRR: net of fees

7 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Exo lands $220M Series C

Exo has raised $220 million in a round led by RA Capital Management, with participation from BlackRock, Sands Capital, Avidity Partners, Pura Vida Investments and existing backers. The Redwood City, Calif.-based company is the developer of a hand-held ultrasound device and an AI-based medical imaging platform.

View round

View 18 competitors »

Latin American property marketplace adds to Series B

Proptech startup La Haus has collected $50 million in debt financing and raised an additional $50 million in Series B funding co-led by Acrew Capital and Renegade Partners, bringing the round's total to $135 million. NFX and other investors also participated in the round. Launched in 2017, La Haus operates an online marketplace for residential properties across Latin America.

Additional Investors:

Kaszek, Bezos Expeditions, Endeavor Catalyst, Greenspring Associates, Moore Strategic Ventures, Time Ventures, 75 & Sunny

View round

View 1 competitors »

Australia's Culture Amp brings in $100M Series F

Culture Amp has been valued at more than $1.5 billion after raising a $100 million round co-led by TDM Growth Partners and Sequoia China. Based in Richmond, Australia, the company is the developer of a data analytics and behavioral science platform that helps companies including PwC and SoulCycle access insights and suggested actions regarding employee engagement and performance management.

Additional Investors:

Blackbird Ventures, Felicis Ventures, Global Founders Capital, Grok Ventures, Index Ventures, Salesforce Ventures, Sapphire Ventures, Skip Capital

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View 56 competitors »

Homebase picks up $71M

Homebase has raised a $71 million Series C led by GGV Capital. The San Francisco-based company is a developer of employee management software geared toward small businesses and hourly workers. Homebase was valued at $159 million in 2019, according to PitchBook data. The startup's tech provides employee scheduling, time clocks, payroll and other services.

Additional Investors:

Bain Capital Ventures, Baseline Ventures, Bedrock, Cowboy Ventures, Plus Capital, Khosla Ventures

View round

View 60 competitors »

Chart of the Day

"We expect to see continued M&A flow in the media & information B2B space, as media companies seek to widen their offerings of sticky and unique content through leading a niche or subgenre, driving scale through content libraries, expanding access and distribution to consumers through differentiated over-the-top or direct-to-consumer strategies, and finding innovative ways to store, manage, and monetize consumer data to drive company growth."

Source: PitchBook's Q1 2021 Global M&A Report