Are you thinking about an IPO? The second half of 2023 may not be the best time for tech companies seeking an IPO, especially those that are venture-backed (and not profitable). IOUs may play a part in launching successfully as public investors review spreadsheets with microscopes (not magnifying glasses) before buying. Crunchbase weighs in, and so should you, before going public.
Some notable trends this week:
- “Fund it done,” is the theme for companies like JPMorgan Chase, reflected in this week’s #1 (Tipalti) for payments startups.
- More funding rounds this week from Y Combinator and Tiger Global, now spreading their $ to this week’s #2, Zip.
- Another week of funding rounds from individual’s such as billionaires and professors, both good to have on ‘team startup.’
Drum roll please, here are this week’s Top 5 VC Deals…
1Tipalti
$150M, Capital | Equity| CA | Payments | JPMorgan Chase, Hercules Capital | https://tipalti.com/
LinkedIn Overview:
“Tipalti is the only global payables automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform. Tipalti makes it painless for accounts payable departments to manage their entire supplier payments operation…”
2Zip
$100M, Series C | Equity | SF | Payments | Y Combinator, CRV, Tiger Global | https://ziphq.com/
LinkedIn Overview:
“Zip is the world’s leading intake-to-procure solution. Providing a single platform for any employee to initiate a purchase or vendor request, Zip helps businesses gain clear and timely visibility across all purchases, while dramatically improving the employee experience…”
3Auradine
$81M, Series A | Equity | SF | Blockchain| Celesta Capital, Mayfield, Marathon Digital Holdings, Cota Capital, DCVC, Stanford University | https://auradine.com/
LinkedIn Overview:
“Pioneer in web infrastructure solutions including blockchain, security and privacy.”
4River Financial
$35M, Series B | Equity | Ohio| Crypto| Kingsway Capital, Peter Thiel, Goldcrest, Cygni, M13, Valor Equity Partners, Esas Ventures, Alarko Ventures | https://river.com/
LinkedIn Overview:
“Invest in Bitcoin with confidence Buy BTC | Zero-fee DCA | Hosted mining | 100% reserve custody | Lightning ⚡.”
5Cormint Data Systems
$30M, Series A| Equity | Fort Stockton | Blockchain | Jamie McAvity, Nav Sooch (Silicon Laboratories), Alessandro Piovoccari | https://cormint.com/
LinkedIn Overview:
“Cormint is a Bitcoin Miner whose team has been mining Bitcoin since 2018 at sites in New York and Texas. We are now rapidly scaling our site in Fort Stockton, Texas towards 130MWs, where our capabilities in power, engineering, and financial management…”
