News & Analysis

CloudFlare raises $110 million; CliniCloud raises $5 million seed round; Readify acquires Huegin Consulting

- September 25, 2015 5 MIN READ

It’s been another big week for the global startup space, with Credit Mututel Arkéa acquiring French FinTech startup Leetchi, CloudFlare raising $110 million, and Blue Jean Networks raising $76.5 million. Closer to home, Readify acquired Huegin Consulting and Reffind acquired WooBoard, while SafetyCulture raised a $6.1 million Series A round and MedTech startup CliniCloud raised $5 million.


Credit Mutuel Arkéa acquires Leetchi

French bank Credit Mutuel Arkéa has acquired 86 percent of French FinTech startup Leetchi in a deal that has valued the startup at over €50 million. The bank will be injecting an investment of €10 million into the startup, which operates MANGOPAY and helps users create ‘money pots’ to collect funds for things like group birthday gifts. Leetchi’s founder and CEO Céline Lazorthes will be keeping the remaining 14 percent of the company.

Reffind acquires WooBoard

Two months after making its ASX debut, Sydney-based HR startup Reffind, whose app helps companies better engage with and train employees, has acquired employee recognition platform WooBoard. The deal will see $1.25 million of Reffind scrip, or shares, issued six months after completion of the acquisition, and an earn-out of between 900,000 and 2.9 million Reffind shares, which is to be assessed on a sliding scale 12 months from completion and is dependent on WooBoard hitting revenue targets. This saves Reffind’s cash balance of $7 million for its expansion plans. WooBoard’s platform will be integrated into Reffind’s product offering.

Readify acquires Huegin Consulting

Technology services company Readify has acquired Huegin Consulting, a firm offering analytics, modelling, and visualisation services. It is Readify’s second acquisition in a year, funded by an earlier $7 million capital raise and strategic partnership entered into with brand and UX design agency Folk last year. Readify wants to be a one stop shop for startups, with Graeme Strange, Readify’s managing director, saying in a statement, “We want to be the organisation that powers the next TaskRabbit or Airbnb. Software is useless unless it’s so beautiful and intuitive that people want to use it. Collecting data is pointless unless we can make sense of it and use it to change your world.” Huegin’s 15 person team will be integrated into Readify’s existing data analysis team.


CliniCloud raises $5 million

CliniCloud, an Australian-born, US-based startup that has developed an at-home medical kit which allows users to record basic vital signs such as temperature and heart and lung sounds and then send the readings to a network of on-demand medical professionals, has raised $5 million in a funding round led by Tencent and Ping An Ventures. The kit will be launching globally next month. The startup has also secured a retail partnership with US giant Best Buy.

SafetyCulture raises $6.1 million Series A round

Townsville tech company SafetyCulture has announced that it has secured $6.1 million in its oversubscribed Series A round of funding – most of the investors in this round are existing shareholders. This round brings the total amount raised by the startup to a little under $11 million.

Blue Jean Networks raises $76.5 million Series E round

Videoconferencing service provider Blue Jean Networks has raised $76.5 million in a Series E round led by NEA, with participation from Glynn Capital, Quadrille Capital, and former New York Yankee Derek Jeter. This funding will go towards the product innovation and expansion into Europe, Asia, and Australia.

MasteryConnect raises $5 million

EduTech startup MasteryConnect, which has created a competence-based personalised learning platform, has raised $5 million from Mark Zuckerberg and Priscilla Chan. The funding is an extension of the startup’s Series B round of $15.2 million and brings the total raised by the startup to date to $29 million. The funding will go towards facilitating the rapid growth of the platform and increasing its reach.

Cloudflare raises $110 million

Content delivery network and security provider Cloudflare has raised $110 million in a round led by Fidelity, with participation from investors including Baidu, Google, Qualcomm, and Microsoft. The announcement comes just a few days after the startup announced a partnership with Baidu. This latest round brings the total raised by the startup to date to $180 million, with Cloudflare last raising $50 million in 2013.

Globality raises $10 million

TechCrunch reports that Globality, a startup currently in stealth mode that’s looking to “build an ambiguous new ecosystem for global trade” has raised $10 million from a number of high profile angels. The startup’s landing page lists investors including Al Gore and Sheryl Sandberg.

Daraz raises $56 million

Daraz, a Pakistani e-commerce startup modelled on Amazon and backed by Rocket Internet, has raised $56 million in a round led by the UK government’s CDC Group, with participation from APACIG, Rocket Internet’s Asia Pacific Internet Group. The funding will go towards solidifying its presence in Pakistan, Bangladesh, and Myanmar.

CloverHound raises $33.3 million Series C round

CloverHound, a platform allowing users to easily compare insurance, has raised $33.3 million in a Series C funding round led by ACE Group, a multiline property and casualty insurer, with participation from existing investors including RRE ventures, Blumberg Capital, and Route 66 Ventures. This round brings the total raised by the startup to date to over $53 million, and will be used to build the CloverHound team and introduce new products.

iAdvize raises $16 million

French startup iAdvize, which helps businesses detect which customers need assistance online, has raised around $16 million, or €14 million, from Iris Capital, BPI France, existing investor Alven Capital. This funding will be used to boost product development and expand internationally.

Headspace raises $30 million

TechCrunch reports that meditation startup Headspace has raised $30 million from investors including The Chernin Group, Advancit Capital, Jessica Alba, and Jeff Weiner, to go towards hiring new team engineers and content marketers, and expanding Headspace’s content.

Portea Medical raises $37.5 million Series B round

Indian home healthcare startup Portea Medical has raised $37.5 million in a Series B round led by returning investor Accel Partners with participation from International Finance Corporation, Qualcomm, and Ventureast. The funding will be used to expand around India and Malaysia. The startup currently operates in 24 cities across India, handling 60,000 home visits a month.

Onshape raises $80 million

Computer-aided design software startup Onshape has raised $80 million in a round led by Andreessen Horowitz, with participation from existing investors New Enterprise Associates, Commonwealth Capital Ventures, and North Bridge Venture Partners. This latest round brings the total amount of funding raised by the startup to date to $144 million, and will be used to expand sales and marketing efforts globally and increase its investment in R & D.

Premise raises $50 million Series C round

Premise, a startup tracking economic data, has raised $50 million in a Series C round from Social + Capital Partnership and Valor Equity Partners. Valor’s Antonio Gracias will be joining the startup’s board. According to a blog post by Premise co-founders Jeff Reisinger and David Soloff, “Valor’s particular focus for Premise will be on revenue generation, refining the sales and business processes, and improving efficiencies on our contributor network as it continues to grow.”

Amino raises $6.5 million Series A round

Amino, a startup that creates apps for communities with niche interests – think turning a forum into an app – has raised a $6.5 million Series A round from Venrock, with participation from previous investor Union Square Ventures. According to TechCrunch, Venrock partner David Pakman is joining the Amino board, and Venrock vice president Richard Kerby will be joining the board as an observer.

Whoop raises $22 million

Boston-based fitness tracking startup Whoop has raised $22 million from Two Sigma Ventures, Mousse Partners, Accomplice, Promus Ventures, Valley Oak Investments, and NextView Ventures. The funds will go towards a beta phase for the next Whoop wristband, which SportsTechie reports “goes beyond the ‘do’s and don’ts’ of fitness, and brings big data and individualized analytics to the table.”

Image: CliniCloud founders Andrew Lin and Hon Weng Chong.