Sunday, May 31, 2015

Funding Box: The Latest Startup Funding News

The Funding Box provides information on venture capital/private equity and startup funding. Here's a list of top startup funding stories.
Nexar, a Tel Aviv, Israel and Los Angeles-based developer of technology to improve driving behaviour, has raised $4 million in funding round led by Aleph, with participation from Slow Ventures and angel investors. Nexar is a network of human drivers and machine sensors, working together to predict, prevent and protect the cars on the cars on the road from difficult and dangerous situations.

Funderbeam, a Talinn, Estonia-based subscription service for startup intelligence, has raised €500k in additional funding. Investors included UK-based Rockspring, and existing investors. Funderbeam has now raised  €1.1m in total funding. Funderbeam is a subscription service for discovering, tracking and analyzing startups, it aims to automate the creation of investment syndicates.

Tectonic, a Denver-based technology and business services company focused on insight to cloud action automation, has received a $1 million loan facility from Silicon Valley Bank. The new funds will be used to fund the company's growth and pursue additional acquisitions. Tectonic serves mid-sized business and enterprise customer via its offices in Denver, Chicago, Houston and Los Angeles.

Lendkey, a New York and Ohio-based Lending-as-a-Service platform that connects borrowers with credit unions and banks, has raised $8 million venture debt line from Silicon Valley Bank. The new capital will be used to drive continued technology and product innovation, and expand its partnership and marketing initiatives. LendKey provides a Lending-as-a-Service (LaaS) platform with over 300 financial institution clients. LendKey, which deployed $800 million in loans to over 35,000 borrowers, also received an additional $125 million commitment from its network of 300 credit unions and banks.

Yonder, a Woodstock, VT-based outdoor recreation mobile app and platform, has raised $2 million in seed funding round. Vermont Seed Capital Fund and Monster Worldwide led this round, with some participation from angel investors. The new funds will be used to expand the company's platform infrastructure, integrate technology that will accelerate the deployment of partner brands into the products and improve the infrastructure. Yonder is a mobile platform for outdoor enthusiasts to connect and share adventures around the globe.

Wealthminder, a Reston, VA-based provider of financial planning and investment advice software as well as marketplace for connecting individuals to financial advisors, has raised $1.45 in seed capital funding. Investors included Green Visor Capital, signatures Capital and other angel investors. The company intends to use the funds to further invest in its technology platform and accelerate sales and marketing efforts. Wealthminder provides platform that includes financial planning and automated investment advice tools delivered in the cloud through an interface as well as a service for connecting consumers with financial advisors. 

Francisco Partners, a global technology-focused private equity firm, has completed the acquisition of Healthcare Sources, a provider of talent management solutions for healthcare industry. Financial terms of the deal were not disclosed. MA-based HealthcareSource provides a suite of talent management solutions for the healthcare industry, including applicant tracking, behavioral assessments, employee performance, compensation, learning management, and eLearning courseware. Healthcare Sources has more than 2,500 healthcare clients. Healthcare Sources was previously owned by Insight Venture Partners, with a minority stake by Bulger Capital Partners.

NewsWhip, a Dublin, Ireland-based provider of a social content discovery platform, has raised $1.6 million in funding round. Investors included The Associated Press, 500 Startups, Tribal.vc, Matter, Social Starts, the SaaS Syndicate, UK Technology by Flight VC, Sam Perry, Angus McMillian, Jim Mullins, Armando Biondi, the AIB Seed Capital Fund, Dublin Business Innovation Centre, Meridian Growth, Chairman Shane Naughton, and other angel investors. NewsWhip intends to use the funds to develop the next generation of its platform, improving tracking, predicting and understanding capabilities as well as to grow its US-based business development team. 

Passion Capital, a London-based venture capital firm, has secured its second fund at £45 million or $69 million. Investors included the British Business Bank, which committed £17.5m, as well as family offices in Europe and in Southeast Asia. Passion Capital provides digital media/technology startups with £200,000 and £2500,000 in funding.

Image Credit: Tectonic

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