Enterprise security tech company Illumio, which emerged from stealth mode just six months ago, has closed on $100 million in Series C funding led by BlackRock and Accel. The company chose not to disclose valuation. If you ask Ben Nasarin of TriplePoint and Jeremy Abelson of Irving Investors, the team at Illumio were smart to keep their valuation quiet. The "unicorn" label may be popular, Nasarin and Abelson say, but big valuations come with dangerous small print and meaningful long-term consequences. Riffing on the same theme of moderation yesterday, Brad Feld dove into the out of favor mindset of capital efficiency. The capital efficient startup may be less trendy than it was five years ago, but according to Feld, these 'silent killers' that only raise $10 million often bring a much higher return.
Heads up, another pot startup just got funded: DCM led a $10 million Series A for Eaze, the 'Uber for Weed.' Round detail here.
|