Raise Report: Fresh Funding for Uber, Gett, Spredfast
Every two weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech.
Friday, May 20: Metadata Lands $2 Million to Boost B2B Digital Advertising Schemes
Metadata, which develops technology that helps business-facing businesses identify potential customers, has raised $2 million in seed funding. “We want to be the one place where [B2B businesses] can essentially have their demand-generation machine on auto pilot,” CEO Gil Allouche told TechCrunch. Hillsven Capital led the round.
Tuesday, May 24: Ride-Hailing App Gett Grabs $300 Million from Volkswagen
Joining the ride-hailing funding frenzy among auto giants, Volkswagen invested $300 million into Israeli startup Gett last week, Fortune reported. The deal will provide Volkswagen with the technological infrastructure to get into car-sharing, a market into which fellow big-time automakers General Motors and Toyota have also poured money.
Thursday, May 26: Front Racks Up $10 Million to Make Businesses Work Better
While Slack provides an internal message service instead of email, Front, which raised $10 million in fresh funding last week, aims to make email work better. The company makes individual team members’ email accounts collaborative, hooking up their inboxes and enabling comment sections. With the funds, Front will develop its product and bring in more staff members. Social Capital led the round.
Tuesday, May 31: Chef’d Locks Down $12 Million for Ingredient Delivery
Chef’d, which offers users a selection of recipes and delivers the ingredients to make them, has raised $12 million in a Series A round yet to be closed, LA Business Journal reported. Investors thus far include grocery delivery service Fresh Direct and Carl Shepherd, co-founder of HomeAway.
Wednesday, June 1: SevenFifty Secures $8.5 Million to Shake Up Alcohol Distribution
Businesses of all sizes selling alcohol can now obtain it through a steamlined, tech-driven solution offered by SevenFifty, which has just raised $8.5 million, TechCrunch reported. Formation8 led the round, which SevenFifty may use to expand abroad, develop consumer apps or upgrade its infrastructure.
Wednesday, June 1: SpreadFast Scores $50 Million for Social Media Marketing Platform
Spreadfast, which helps brands as big as AirBnB and Viacom sharpen their social media strategies on platforms such as Facebook and Twitter, has raised $50 million in fresh funding, VentureBeat reported. Riverwood Capital led the Series F funding round, which SpredFast will use to grow its staff and broaden its global reach.
Wednesday, June 1: Uber Closes $3.5 Billion Round from Saudi Arabia Public Investment Fund
On-demand economy juggernaut Uber has raised $3.5 billion in fresh capital, Forbes reported. The investment comes as Uber contends with challenges from Lyft at home and other ride-hailing apps such as Gett and Didi Chuxing abroad. This latest round gives the company a “war chest of cash and convertible debt of more than $11 billion to continue its international expansion,” according to Forbes.
Joseph Zappa is Street Fight’s news editor.
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