VC Deals: Sirius XM Buys SoundCloud Stake, Seatsby VCDeals
Welcome to Seeking Alpha’s Venture Capital Deals of the Week. Follow this account and turn on the e-mail alert to receive VCDeals in your inbox on Friday afternoons.
- Salesforce (NYSE:CRM) Ventures and Dragoneer Investment Group co-led the $479M Series F for cloud data warehousing startup Snowflake at a $12.4B post-money valuation. Salesforce’s participation includes a strategic partnership, but Snowflake won’t reveal the details until June. Snowflake says it has more than 3,400 customers, including Domino’s, JetBlue, and Nationwide.
- DXC Technology (NYSE:DXC) and ABN AMRO Ventures co-led the $80M round for Irish fintech Fenergo at an $800M valuation. The startup makes lifecycle management technology and handles compliance matters for banks and other financial institutions. DXC returned after investing $72M in Fenergo last summer. The new funds will help enhance the existing product and for potential M&A.
- Sirius XM (NASDAQ:SIRI) invested $75M into SoundCloud for an undisclosed minority stake and two board seats. SoundCloud says it’s on track for over $200M in revenue in 2020. The infusion will help expand artist services and build out other products.
- Nvidia (NASDAQ:NVDA) participated in the $43M Series C for cybersecurity company Deep Instinct. Millenium New Horizons led the round for the startup, which offers an AI-backed platform that automates the prevention and detection of security threats. Deep Instinct’s enterprise customers cover a wide range of industries, including finance, healthcare, and aviation.
- IRobot (NASDAQ:IRBT) joined the $36M Series B for Intuition Robotics, which creates the ElliQ robot digital home companion for the elderly. SPARX Group and OurCrowd co-led the round. The empathic AI startup is working with backer Toyota (NYSE:TM) Research Institute to bring its tech to Toyota’s LQ, a concept vehicle that uses AI to create an “emotional bond” between car and driver.
- Dell (NYSE:DELL) contributed to the $17M round for database visualization platform Datometry. WRVI Capital led the Series B, which brought total funding up to $28M. Datometry helps move data and applications to the cloud with an initial focus on the popular enterprise offering Teradata. The startup supports the major cloud platforms, including AWS, Microsoft Azure, and Google Cloud. The new money will help build up a partner network with systems integrators to help Datometry’s small team with implementation, leaving the startup more time to develop products.