Although the past week has seen few major deals concluded, there has been a buzz of activity and VC finances covered various segments, from e-commerce to financial platforms. Here are highlights of some of the most interesting capital activity from around the globe.
Wayfair, a Boston-based multinational online retailer of home goods since 2002, raised $157 million in a new funding round. The round, including investment from T. Rowe Price and other unidentified mutual funds, gives the Boston firm a valuation of around $2 billion. The giant online retailer remains fairly low key and its brand awareness is low among most consumers. “There are very few retailers who do $500 million in sales you’ve never heard of,” said Niraj Shah, chief executive of Wayfair, told the media last year. Perhaps this year the company will break into the mainstream.
Quikr, which boasts 32 million unique visitors a month and collects revenue from advertising and premium listings, received $90 million in its seventh round of financing. The funding round was led by Kinnevik and also saw participation from Nokia Growth Partners, Norwest Venture Partners, eBay and Warbug Pincus. The latest funding in Quikr demonstrates growing interest from newer investors in India’s online commerce landscape
Credit Karma, which claims to now provide around 20 million US consumers with access to their credit score as part of a mission to deliver resources and financial education, confirmed the closure of its latest funding round at $85 million. The round was led by Google Capital with participation from Tiger Global, Ribbit Capital and Susquehanna Growth Equity. Credit Karma hopes to use the incoming money to double its workforce of 110 employees and introduce products “that are going to be disruptive,” according to the company’s CEO.
MuleSoft secured $50 million in its latest funding round. The San Francisco-based company, which has raised $131 million in funding since 2006, has indicated it will use the new capital to accelerate global growth. The company’s strong growth and valuaton is likely to lead to an IPO somewhere in 2015, and this is a company to look out for in the future.
We at Acuity are keeping a close eye on the VC market, having had a solid track record in raising funds for a number of firms, one example being the successfully raised venture capital investment for Amplience, the cloud based Rich Adaptive Media Platform (RAMP) that simplifies the production of interactive lifestyle, campaign and product media. Having our finger on the pulse is what separates our vision, and one of the factors behind ACQ Magazine announcing that Acuity Advisors was the UK Independent Corporate Finance Boutique of the year in 2013.
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