Ramp raises $300 M; Hunters raises $30 M from Bessemer Venture Partners and more
Two year old start-up Ramp raised $300 million from investors at a $3.9 billion valuation, more than double its previous $1.6 billion value as estimated in April. Ramp offers a corporate credit card with zero fees, no interest rates and cash-back rewards, but it aims to differentiate itself with an expense-management platform that uses artificial intelligence to analyze transactions and identify savings opportunities. The company went through a $115 million round led by Goldman Sachs and payments giant Stripe in April. This particular Series C funding round, is led by return investor Founders Fund.
As of today, New York City-based Ramp's total funding has crossed $620 million, including $150 million in debt financing from Goldman Sachs this past February. Other previous investors joining the new round also include RedPoint Ventures, Thrive Capital, D1 Capital Partners and fintech Stripe.
Cybersecurity startup Hunters has raised $30 million. The fresh funding will be used to increase the internal headcount, drive innovation, enhance customer satisfaction, increase market reach and support partner expansion. Hunters specializes in autonomous threat hunting solutions to detect cyberattacks that bypass existing controls in information technology environments. The company’s platform extends threat detection and response to every attack surface thanks to its XDR capability.
Bessemer Venture Partners led the Series B round along with other investors like YL Ventures, Blumberg Capital, Microsoft’s Venture Fund M12 and U.S. Venture Partners.
Upstream announced closing of a $62 million investment as part of round C funding. Upstream is a cloud-based cybersecurity and data analytics platform which harnesses data stored in connected vehicles and combines it with purpose-built artificial intelligence and machine learning technologies to empower its customers by offering advanced security capabilities as well as data analytics actionable insights. This latest investment, which was led by Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, Inc., along with new investors I.D.I. Insurance, 57 Stars' NextGen Mobility Fund, and La Maison Partners. The list of existing investors include names like Glilot Capital, Salesforce venture, Volvo Group Venture Capital, Nationwide, Delek US, and others. The company has raised a total of $105 million investment since its founding.
Linktree, is partnering with PayPal to expand its recently launched “sponsored links” tools for direct payment on Linktree globally. The creators in more than 200 countries where PayPal operates can now accept payments through transaction tools. Commerce Links allows users to accept payments directly on their Linktree profile without opening a new browser or tab. The new integration allows Linktree customers to connect their PayPal accounts and receive payments from their subscribers or customers via PayPal, debit card or credit card. There are two types of commercial links that creators can use to accept payments from their subscribers and customers: Creator services directly from their Linktree profile.
A UK-based smart property management platform, Plentific raised $100m in Series C funding. New investors Highland Europe and Brookfield Technology Partners led the round alongside Mubadala Investment Company (Mubadala) and RXR Digital Ventures, as well as existing investors A/O PropTech and Target Global.
The funds will be used to expand its presence in the US, and globally, and to accelerate its engineering and product development to increase digitalization across the property and facilities management space.