Social Stocks Slip, Boston VC Beats NYC, And Supergiant Rounds Counts Reach New Heights

The era of supergiant rounds continues. Singapore’s ridesharing company Grab doubled its Series H to $2 billion at an $11 billion valuation, while Softbank led a $240 million Series C in consumer product retailer Brandless. Meanwhile, a new unicorn was born: Freshworks raised a $100 million Series G at a $1.5 billion valuation. In the fintech space, BlueVine extended its Series E to $72 million.

Investors are also betting on vanity (aren’t they always). Naked Labs raised $14 million to sell 3D body scanning mirrors that track fitness progress. Startups in childcare have attracted investment, too. WeeCare scored $4.2 million to find parents affordable child care providers. Additionally, Skyline.AI picked up $18 million to connect investors with U.S. real estate opportunities.

It’s been a choppy moment for tech stocks. Even as SaaS and social companies fell in the public markets, Apple managed to cross the $1 trillion barrier. There’s good news ahead for IPOs like Sonos, however as investors value tech revenue at new highs.

Finally, Crunchbase News reviewed the top deals led by legacy firms Sequoia, New Enterprise Associates, and Accel. We also found that Boston has passed its rival New York City in total venture capital funding so far this year.

Cisco buys Duo Security for $2.35B

Cisco announced that it will buy Duo Security, a provider of access security and multi-factor authentication tools, for $2.35 billion in cash. Ann Arbor, Mich.-based Duo, founded in 2010, previously raised $122 million in venture funding.

Boston tops New York this year in VC investment

After years of trailing New York City in total annual venture investment, Massachusetts is taking the lead in 2018. Venture investment in the Boston metro area is on track for the highest annual total in years, fueled largely by a rise in big biotech deals.

Grab picks up $1 billion more

Singapore’s ridesharing darling Grab is reportedly poised to announce another $1 billion investment in its Series H round at a valuation of $11 billion. The cash infusion follows a $1 billion investment from Toyota in June.

Sonos prices IPO below range

Wireless speaker maker Sonos raised $208 million in its IPO after pricing shares at $15, below the expected $17 to $19 range. The offering sets an initial valuation for Santa Barbara, Calif.-based Sonos of around $1.5 billion.

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