Lume Weekly Private Market News & Notes 12.12.2022
Covers news about startups, private deals, technology, and innovation in the private market
📊 Stats of the Week 📊
Startup sector deal value, deal count and valuations
💰 Fundraising 💰
Pylon closes $8.5M round (Dec 6)
Pylon, the embedded mortgage infrastructure platform, raised $8.5M in a seed round of fundraising. Pylon has about 15 early customers. Combined they total approximately $3.5B in loan volume.
Cacheflow doubles its valuation (Dec 6)
Cacheflow, a SaaS sales platform that automates the proposal-to-payment process, announced that it closed $10M round which doubled the company’s valuation.
MarginEdge secures $45M in Series C to give restaurants real-time spend data (Dec 7)
MarginEdge, a restaurant management and bill payment platform, announced it has raised a $45M Series C investment. According to TechCrunch, MarginEdge grew its revenue 100% and is now working with 4,000 customers and processing 80,000 invoices per week.
Digital asset finance platform Bitwave secures $15M (Dec 7)
The crypto accounting and compliance platform Bitwave has bagged $15M from a Series A. The company’s clients include OpenSea, Compound, Anchorage Digital, and more.
BondIT Secures $14M led by BNY Mellon (Dec 8)
Credit analytics and fixed income technology company bondIT has raised $14M in new funding. According to Crunchbase, the funding brings bondIT’s total equity capital to more than $32M.
Cybersecurity startup Snyk raised $196.5M at a lower valuation (Dec 12)
Snyk raised $196.5M in Series G funding at $7.4B valuation. Its previous round was valued at $8.5B. The CEO said, “Despite the headwinds that I think everybody sees in the market, we were able to still grow over 100% in new logos and in revenue, so we’re very pleased”.
Nillion raises over $20M to build new web3 infrastructure (Dec 12)
Nillion, a web3 startup aiming to build a non-blockchain decentralized network, closed an oversubscribed round of more than $20M. The startup was founded in November 2021 and has bootstrapped operations up until this point, with more than 40 employees and no prior funding.
🗞 Others 🗞
Thales releases 'Voice Payment Card' for the visually impaired (Dec 5)
Thales developed a 'Voice Payment Card' to protect blind and visually impaired people with their daily payments.
Nubank announces $330M equity capitalization in Mexico (Dec 6)
Brazilian digital bank Nubank (NUN.MX), announced a $330M equity capitalization in Mexico, as it pushes to expand operations there.
Plaid lays off 20% of staff (Dec 7)
In a letter to employees that was posted on Plaid’s website, CEO and co-founder Zach Perret said the company is laying off 260 employees, or about 20% of its workforce.
FTX founder Sam Bankman-Fried has been arrested in the Bahamas (Dec 12)
Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, was arrested in the Bahamas after U.S. prosecutors filed criminal charges.