Goldman Sachs’ startup investment pace has increased dramatically over the last couple of years, and this quarter is no exception. The banking giant has backed 20 startups in Q3, including cybersecurity company Acronis, GitLab, and insuretech startup Ethos.
San Francisco-based Postmates, the on-demand delivery unicorn, raised $225 million in fresh funding at a $2.4 billion valuation. The financing comes on the heels of a private IPO filing, with the public prospectus reportedly likely to surface later this month.
Airbnb issued a statement that it “expects to become a publicly-traded company during 2020.” The company also gave a peek into its finances, saying it had more than $1 billion in revenue in the second quarter of 2019.
Payment processing unicorn Stripe raised $250 million in a new round of funding said to make its valuation $35 billion. Sequoia Capital, General Catalyst, and Andreessen Horowitz reportedly backed the round, which brings the San Francisco company’s total funding to more than $1 billion.
WordPress publisher Automattic announced that it has closed a new $300 million Series D, with Salesforce Ventures backing the entire round. The financing puts the 14-year-old company at a post-round valuation of $3 billion.
Funding for cannabis companies has slowed this year compared to 2018, with fewer giant financings announced. Startups say expenses are also higher for legal, licensing and compliance work that is needed at the onset.
Raising a seed round is tough, but raising a Series A round is even more difficult. One founder reviews his experience and offers tips and tricks for raising this imperative round.