Lume Weekly Private Market News & Notes 7.31.2022

Covers news about startups, private deals, technology, and innovation in the private market

📊 Stats of the Week 📊

Global secondary market transactions

💰 Fundraising 💰

OneTrust valued at $4.5B (Jul 26)

• OneTrust, a privacy and security startup, became one of the latest startups to raise a down round, as it locked up a $150M round. The valuation represents about a 12% drop from the $5.1B valuation after it raised a Series C in late 2020.

Croissant raises $24M in initial funding (Jul 27)

• Croissant is a fintech platform that integrates directly into merchants’ existing checkout flows to give shoppers a guaranteed ‘buyback’ value at the point of sale, giving them the chance to sell the item back within a year if they wish. The buyback price is determined by an AI-powered algorithm, with Croissant then fulfilling those buyback guarantees. The startup raised $24M.

GlossGenius raises $28M (Jul 27)

• GlossGenius, a platform designed to handle bookings and payments for salons and spas, announced that it raised $28M in a Series C funding round at $510M valuation. GlossGenius claims that 60,000 spas and beauty salons are now using its platform and it is handling billions of dollars in activity annually.

New Relic agrees to go private in a $6.5B all-cash deal (Jul 31)

• New Relic, an observability software company, has reached an agreement with private equity firms TPG and Francisco Partners to go private in a $6.5B all-cash deal.

Topline Pro raises $12M to help home service businesses scale online (Jul 31)

• Topline Pro, a Generative AI platform enabling home services, announced $12M in new Series A capital. The company has double-digit monthly revenue growth and nearly doubled its employee compared to last year.

🗞 Others 🗞

Amazon to launch pay-by-palm technology at all Whole Foods stores by year-end (Jul 20)

• Amazon will let shoppers pay with their palms at all Whole Foods stores by the end of the year, the company announced.

TikTok to launch e-commerce program to bring Chinese goods to the US (Jul 26)

• TikTok, owned by ByteDance, plans to launch a program in August to help Chinese merchants sell goods globally, and will officially roll it out first to consumers in the United States.

AngelList expands into private equity with acquisition of fintech startup Nova (Jul 28)

• AngelList, a website for startups and angel investors, is making a move into the private equity space with the recent acquisition of fintech startup Nova. According to TechCrunch, Nova’s revenue tripled in 2022.

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