Somewhat surprisingly, late-stage funding has held steady in the first four months of the year per Crunchbase data. Overall, investors put $54 billion to work, roughly the same amount as the comparable period in 2019. Seed and early-stage funding, meanwhile, appear to be contracting more sharply amid the pandemic.
Cisco is buying network intelligence startup ThousandEyes in a deal reportedly valued at around $1 billion. San Francisco-based ThousandEyes, which previously raised $110 million in venture funding, provides tools to help IT teams determine what’s braking or slowing down apps and websites.
China’s ride-hailing giant Didi Chuxing raised more than $500 million for its autonomous driving subsidiary in a funding round led by SoftBank’s Vision Fund 2. The financing is the first fundraising round for that business since it was spun off into its own company in August.
Credit card companies commonly provide rewards for spending on travel and dining. But as those activities diminish amid the pandemic, they’re focusing rewards on products and services that people and companies can use while sheltering in place. The list includes fintech company Brex, best known for its credit cards for startups.
RemoteHQ, a Boston-based startup with a virtual office platform aimed at helping employees work from anywhere, has raised $2.7 million in a seed round led by TECHU and Underscore VC.
While the sales career path is known to be a roller coaster ride, sometimes the lows are prolonged much longer than anticipated and reps are caught in a slump. This year threw a brand new chaos factor into the mix: COVID-19. Not only are people facing their own challenges that unexpectedly marry home and work, but they are facing new obstacles like budget freezes, layoffs and global uncertainty.