Business and Economy

Crunchbase Daily: Zuoyebang, Zhihu, Framebridge, Seeq, and Reali

Crunchbase Daily: Zuoyebang, Zhihu, Framebridge, Seeq, Reali, Glovo, Light, Centivo, Openpath Security, and Peerspace

Big Five tech firms valued over $4T

The collective market value of the five biggest U.S. technology companies just surpassed $4 trillion. Whether they will maintain or surpass that mark will depend heavily on their latest earnings, which start to trickle out this week.

Insight Venture Partners closes $6.3B Fund

Another day, another really, really big tech fund closing. This time it’s software growth investor Insight Venture Partners, which just raised $6.3 billion for its tenth fund. This latest fund dwarfs its Fund IX, which closed in 2015 with $3.3 billion.

Chinese ed-tech platform raises $350M

Baidu-owned education startup Zuoyebang just raised a $350 million Series D led by Coatue Management. Participating investors include Goldman Sachs, Sequoia Capital China, and New Enterprise Associates, among others.

Light snaps up $121M Series D

Light, a developer of advanced imaging technology for digital photography, raised $121 million in a Series D round led by SoftBank.

Incubator aims to mint more German unicorns

While Germany’s economic prowess is indisputable, the country assumes a much more modest reputation in the tech startup scene. A government-backed incubator is working to turn that around, helping startups network their way to global expansion.


Greycroft closes $250M fund

New York-based VC Greycroft has raised $250 million for its latest early-stage fund, which will invest in seed through Series A rounds for promising technology startups.

Pintec files for IPO

Two-year-old fintech startup Pintec has filed for a U.S. IPO, hoping to raise $70 million.The Beijing-based company provides online financial services including loans, wealth management, and insurance.

Rubius raises $241M in upsized IPO

Rubius Therapeutics, a Cambridge, Mass.-based developer of drugs based on genetically-engineered red blood cells, has raised $241 million in an upsized IPO that reportedly sets an initial market valuation for the company of around $2 billion.

K Health adds AI to online diagnosis

K Health, an app that uses AI and anonymous health records to augment the diagnoses of health problems, has raised $12.5 million. Investors include Comcast Ventures, Bessemer Venture Partners, and Mangrove Capital Partners, among others.

Niantic snaps up Seismic Games

Niantic, the augmented reality game developer best known for Pokemon Go, has acquired Seismic Games, a venture-backed developer of mobile games based on the Marvel comic universe.TTTTTT


Glovo115M EUR / Series C
Glovo is an on demand service that purchases, picks-up and delivers anything that is ordered through the app. The Barcelona, Spain-based company intends to use the new funds for global expansion in Latin America and EMEA areas.
Categories:   Administrative Services · Mobile · Transportation · Delivery · Local
Founders:  Sacha Michaud, Oscar Pierre, Miguel Vicente
Investors:  Seaya Ventures, Cathay Innovation, Rakuten, + 3 more
Light$121M / Series D
Light is a digital photography company that develops lenses and cameras in mobile devices. The Palo Alto, Calif.-based company will use the new funding to expand beyond consumer photography and into security, robotic, automotive, aerial and industrial imaging applications.
Categories:  Commerce and Shopping · Consumer Electronics · Content and Publishing · Hardware · Internet Services · Media and Entertainment · Software · E-Commerce · Internet · Photography
Founders:  Dave Grannan, Rajiv Laroia
Investors:   Leica, SoftBank Vision Fund (Lead)
Centivo$34M / Series A
Centivo is a self-funded health plan built specifically for employers, employees, and families. The New York-based company will launch its product in 2019 with an emphasis on employers with employees in New York, New Jersey, Connecticut, and select other markets.
Founders:  Boris Khomut, Stuart Roth, Ruth Berkowitz, Jordan Silvergleid, Tahasin Alam, Alan Cohen, Ashok Subramanian
Investors:   Bain Capital Ventures (Lead), Ingleside Investors, Oxeon Partners, + 7 more
Zuoyebang$350M / Series D
Zuoyebang is an online education platform for K-12 students. The Beijing, China-based company currently works with 113 educational organizations and 370,000 schools in China.
Categories:  Community and Lifestyle · Education · Internet Services · Software · Q&A · Web Browsers
Founders:   Hou Jianbin
Investors:  Primavera Capital Group, Goldman Sachs, Taihe Capital, + 5 more
Zhihu$300M / Series E
Zhihu is a question-and-answer knowledge sharing platform. The Beijing, China-based company has over 160 million registered users since launching in 2010.
Categories:  Community and Lifestyle · Information Technology · Internet Services · Media and Entertainment · Information Services · Q&A · Social Media
Founders:  Shenshen Li, Yuan Zhou, Jixin Huang
Framebridge$30M / Series C
Framebridge is an online custom framing startup. The Washington, D.C.-based company intends to use the funds for brand awareness and to expand manufacturing capabilities.
Categories: Commerce and Shopping · Internet Services · Real Estate · E-Commerce · Home Decor · Internet
Founders:  Susan Tynan
Investors:  NEA, SWaN & Legend Venture Partners, Revolution Ventures, + 1 more

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