Raise Report: New Funding for Instacart, Kabbage, Drizly
Every two weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech.
Saturday, February 25: Drizly Secures $2 Million More for Hyperlocal Alcohol Marketplace
Adding to a Series B that now amounts to $17 million, Drizly’s investors offered the company $2 million more, TechCrunch reported. Drizly, which used to be an alcohol delivery service, now offers a marketplace on which customers can compare the prices of local liquor stores. Drizly will use the funding to expand the geographic range of its operations.
Monday, February 27: Cordial Rakes in $6 Million for Email Marketing Service
Upfront Ventures led the Series A round, San Diego Business Journal reported. Cordial helps businesses sharpen their marketing strategies with automated messages that cater to a consumer’s interests.
Tuesday, February 28: Workfit Scores $5.5 Million for Enterprise AI
Battery Ventures, Salesforce Ventures, and Greycroft Partners participated in the round of seed funding, according to TechCrunch. Workfit’s AI-powered voice assistant is designed to maximize the efficiency of meetings. With the funding, Workfit will grow its staff and launch its product.
Wednesday, March 1: Incorta Takes in $10 Million to Help Businesses with Data Analytics
GV, Alphabet’s venture capital operation, led the round, Silicon Angle reported. Incorta simplifies the process by which companies collect and break down data, thereby helping companies understand and act on their data much quicker. Incorta will use the funding to publicize its product and court additional clients.
Monday, March 6: Peerspace Raises $11 Million for Event Location Marketplace
Foundation Capital led the round, VentureBeat reported. Peerspace is a marketplace that connects buyers looking for spaces in which to hold events and sellers who have vacant locations to offer. The company will use its new funding to advance product development and conquer the markets in which it currently operates.
Wednesday, March 8: Goldbely Lands $10 Million for Signature Dish Delivery
Global Founders Capital and Intel Capital led the Series A round, the Wall Street Journal reported. Goldbely grants users the opportunity to order a favorite dish from a restaurant thousands of miles away and receive it the next day. For example, a user in Seattle could order a dish from a favorite restaurant in New York. Goldbely will put the cash infusion toward building its staff in San Francisco and New York.
Wednesday, March 8: Instacart Picks Up $400 Million for Grocery Delivery
Sequoia Capital led the round, Bloomberg reported. Instacart, a leader in the packed startup space that is grocery and food delivery, is now valued at about $3.4 billion. The company will use its latest funding to focus on revenue gains in areas such as branded advertising.
Wednesday, March 8: Kabbage Nabs $500 Million for Small Business Loans
Techcrunch reports that the company has locked in $500 million in fixed-rate, asset-backed notes. The company plans to “expand the amount, payback terms and size of loans it makes to SMBs over the next three years.”
Joseph Zappa is Street Fight’s news editor.
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