The two Northern California counties that comprise Silicon Valley are taking in a smaller share of total startup funding. While they once reliably raised more than 40 percent of statewide investment, it’s now typically around a third or less, as more money flows to nearby San Francisco. Still, total investment has continued to rise.
Databricks, best known as a developer of massive scale data analytics tools based on the Apache Spark open source platform, has raised $400 million in a fresh funding round. Andreessen Horowitz led the financing, which sets a $6.2 billion valuation for the six-year-old, San Francisco-based company.
New York-based Blueground, a tech-equipped apartment rental company, raised $50 million in a Series B round co-led by WestCap and Prime Ventures. The company leases apartments and then upgrades and furnishes them, making them available for renters seeking short-term or turnkey properties.
Lyft announced that it expects to generate adjusted profit in two years’ time. The news, coming on the heels of sagging share prices from Lyft and its domestic ride-hailing rival Uber, pumped life into their public valuations.
Squarespace, a build-your-own website startup, has acquired social media app Unfold, used by a slew of celebrities including Kim Kardashian West and Selena Gomez, to bring digital storytelling capabilities to its users. The terms of the deal, the startup’s second acquisition to date, were not disclosed.
Planted, a Zurich-based startup that uses the protein and fibers of yellow split peas to create meat substitutes, just raised $7 million in a seed round backed by a long list of investors.
Analytics provider Splunk has invested an undisclosed sum in Zonehaven, a San Francisco startup that uses data to aid fire departments and emergency response agencies in combating wildfires.
Crunchbase talks to Megan Holston-Alexander of Unusual Ventures on how her hometown of Montgomery, Alabama inspired her to change her life in academia to one dedicated to helping fund entrepreneurs.