Raise Report: LendUp, DroneDeploy, Vettery Secure Fresh Funding
Every two weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech.
Tuesday, August 16: Simbi Raises $1.2 Million for Online Services Marketplace
Greylock Discovery fund, Crunchfund, Ranch Ventures, and Y Combinator supplied the funds, TechCrunch reported. Simbi will use the capital to spread the news about its business and grow its staff, which currently stands at just five members.
Wednesday, August 17: Dexter Secures $2.3 Million for Bot-Building Software
2016 has been a big year for bots, as conversational commerce makes its way into more and more business models. Dexter is riding that wave, raising a $2.3 million round led by Rakuten Ventures, the company announced via a post on Medium. The funds will go toward product development as Dexter attempts to become the best bot-building platform available.
Wednesday, August 17: Vettery Grabs $9 Million to Locate Finance, Tech Talent
Vettery feeds the talent-gobbling machines of the high-rolling technology and financial industries, using technological infrastructure to find talent faster than traditional recruiting agencies. Greycroft Partners and Raine Ventures led the round, according to a press release on Yahoo Finance. Vettery plans on putting the funding toward geographic expansion and building its team.
Monday, August 22: MediaBrix Lands $6.5 Million for Mobile Brand Marketing
MediaBrix, a mobile advertising firm that helps brands connect with consumers, scored the new funds from Edison Partners, Revel Partners, and Horizon Technology Finance, according to VentureBeat. MediaBrix will put the funds toward research and development and expanding its data science staff.
Tuesday, August 23: RedShelf Scores $4 Million to Disrupt College Textbook Market
Local college bookstores are in for a rude awakening. RedShelf, which enables cheap, electronic distribution of college textbooks that have conventionally cost students hundreds, picked up $4 million this week from Coniston Capital, TechCrunch reported. RedShelf will use the Series B capital to accelerate and innovate within product development.
Tuesday, August 23: LendUp Locks Down $47 Million for Its Alternative Credit System
LendUp offers deals to consumers struggling with bad credit or a scant credit history, and its vision has been rewarded. Y Combinator Continuity led the Series C round, Finovate reported. LendUp will put its new funding toward scaling its products, including its L Card, which is, according to its website, “for people new to credit or those who’ve had trouble in the past.”
Wednesday, August 24: DroneDeploy Scoops Up $20 Million to Improve Maps
DroneDeploy makes software that renders geospatial data collected by drones into maps and 3D images. Its potential utility for businesses looking to capitalize on advancements in drone technology was noticed by Scale Venture Partners and High Alpha Capital, which supplied the funding, Fortune reported. The company will use the Series B funding to develop new features and grow its business.
Joseph Zappa is Street Fight’s news editor.
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