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Tech startup Bevy — the only enterprise virtual, hybrid, and in-person event community platform on the market — announced that the company has just secured a $40 million Series C funding round in an effort to continue helping companies expand their global customer communities and drive radical change for diversity and inclusion in tech. The funding round was led by Accel Partners — for the second time in the past year — with participation from other investors such as LinkedIn, Qualtrics co-founder Ryan Smith, Upfront Ventures, as well as over 25 top Black leaders in the tech industry. Bevy — currently operating with a completely remote workforce located in 10 different countries on four continents — plans to use the new funding to expand its team from 100 employees to 250 later this year. Not only does this new funding round mark a major milestone for Bevy, it also outlines the company’s intentions to establish more diversity in tech so it deliberately carved out more space to allow...
This time last year, Nigerian-founded and San Francisco-based startup Flutterwave just finished closing on a $35 million Series B funding round. Now this week they close on an additional $170 million, bringing the company’s value to over $1 billion, TechCrunch reports. This Series C round was led by New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global. Additionally, new and existing investors who participated in the round also include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. According to TechCrunch, Flutterwave has raised an upwards of $225 million total in the last three years and is one of the few African startups to have secured more than $200 million in funding overall. We previously reported that the startup had processed more than $5.4 billion in transactions as of 2019, more than doubling its...
Privately-held investment firm ICONIQ Capital has invested $60 million in Squire Technologies following its latest Series C funding round. According to Fortune, the four-year-old payments company — who raised $34 million for its Series B round just six months ago — is the leading barbershop management and point of sale system software looking to help bring new businesses online. ICONIQ, which invests on behalf of Mark Zuckerberg and Jack Dorsey, has been eyeing the male grooming industry for some time, according to the firm’s Yoonkee Sull. “The men’s barbershop and grooming industry as a men’s industry has grown very robustly from an interest perspective, which has been a boom to the barbershop industry,” Sull said. Founded by Songe LaRon and Dave Salvant, Squire is an all-in-one, easy-to-use platform that allows businesses to fully integrate their business into a system that can increase revenue and create a smooth customer experience. In addition, the product features contactless...
Funding isn’t a one-time deal for most startups. It’s common for startups to raise capital via multiple funding rounds, each being a step above the previous. Even when a startup achieves success in a lower round, they continue to raise capital via consecutive rounds in efforts to scale their business to new heights. So, what are funding rounds? How do they work? How do you determine how many funding rounds are appropriate for your startup? We’re glad you asked. Here’s all you need to know: What is a funding round? Essentially, a funding round is a period of time where a startup sets out to raise capital in order to achieve a goal or milestone. In between funding rounds, the startup will continue to improve via sales, digital impressions, or adding new team members to increase the overall valuation, which is evaluated and assessed by potential investors. There is no standard amount of time between funding rounds which is usually determined by founders who feel their valuation has...