Ballast Point Ventures led the round and was joined by investors including Mercury and Lytical Ventures.
XPLORER CAPITAL SERIES
careviso, a Falls Church, Va.-based molecular diagnostic patient access health care provider, raised $17 million in Series B funding. Sequoia Capital led the round and was joined by investors including A Capital, SV Angel, and other angels. Kumo, a San Francisco-based predictive analytics platform, raised $18 million in Series B funding. FTX Ventures and Jump Crypto co-led the round and were joined by investors including Multicoin Capital, Anagram, and K5 Global.
Coral, a decentralized infrastructure developer, raised $20 million in funding.
Emergence Capital led the round and was joined by investors including 11.2 Capital, GreatPoint Ventures, and Industry Ventures. Coalesce.io, a San Francisco-based data transformation company, raised $26 million in Series A funding. Rippl, a Seattle-based mental health company for seniors with dementia and other neurocognitive conditions, raised $32 million in seed funding led by General Catalyst and ARCH Venture Partners. GGV Capital led the round and was joined by investors including Founders Fund, Coatue, BOND, Basis Set Ventures, CRV, WiL, Soma Capital, and other angels. Workstream, a San Francisco-based hiring and onboarding platform for the deskless workforce, raised $60 million in Series B extension funding. led the round and was joined by investors including Squarepoint Capital, Portfolia, Grosvenor Food & AgTech, Tiger Global, Liberty Street Funds, Walleye Capital, Celtic House Asia Partners, and Apeira Capital.
XPLORER CAPITAL SOFTWARE
GrubMarket, a San Francisco-based software and e-commerce platform provider connecting farmers and food suppliers with customers, raised $120 million in funding. Addition led the round and was joined by investors including Greyhound Capital, Coatue, Lightrock1, Block Inc.2, Tencent, and Mediolanum Gestione Fondi SGR. Satispay, a Milan-based mobile payment network, raised €320 million ($311.6 million) in Series D funding. Jackson Fordyce curated the deals section of today’s newsletter. Jessica Mathews Twitter: Email: Submit a deal for the Term Sheet newsletter here. Yesterday evening, Porsche priced its shares at the high end of its range, at €82.50 ($80.23) each, and listed them this morning in Frankfurt, Germany, where its share price is currently on the rise. After the IPO, Porsche is the fifth largest carmaker in the world by market cap. The listing offers some relief to a sour IPO market, but it’s unlikely the broader market will pick up anytime soon. Porsche prices… After a remarkably silent year in the IPO market, Volkswagen Group’s listing of Porsche offers some much-needed good news.
“Ask yourself: Do I really need it? Or am I better off investing a lot of it in startups,” Khurshid says. For example, a $50 million fund with a 2% management fee will be taking a $1 million cut right off the bat-money that never gets invested. But fees cut into the money you have to invest and generate returns for LPs, warns Khurshid. Steep upfront costs can make it tempting for GPs to keep their fees high for Fund 1.
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