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If you want to know why the internet broke today, we have the story you need. I think it’s nice to read that story for once without Amazon’s fault. Or Cloudflare. Now that we think about it, there are a lot of failure points for the Internet. Today’s criminal, Fastly, went downstairs with a lot of internet with him. But Fastly’s stock? As I write to you, more than 9%. understand that one – alex
ClearTips Top 3
- How Bottom-Up Sales Helped Expensify Lead the Way to SaaS: ClearTips’s final entry for a deep dive into Expensify’s business ahead of its IPO is live today. Anna Its final installment of a five-part series focused on how the famed spending software company managed the growth it’s helping take public.
- Personal computers are not dead: Remember when the iPad came out and the PC was considered a hoax? Well, they’re not dead yet, not by a long shot. In fact, here in the US, PC sales grew 73% in the first quarter compared to Q1 2020 numbers. And Apple lost its top spot to HP, at least in the US.
- Investors still prefer software over life: The market for high-growth technology companies is very hot at the moment, for which recent evidence was provided by Monday.com’s IPO pricing and expected investments from both Zoom and Salesforce. The Israeli company should debut in the US markets later this week.
Startups and VCs
We have three main sections of startup news this morning. The first pertains to consumer social applications, a category that has gone through ups and downs in investor interest. The other is fintech focused. And the third is a mix of large and small funding rounds to keep you up to date on the latest.
2 turntables and a camera phone:
- Dispo’s Camera app confirms its Series A round: After a hyped launch and fallout about a member of co-founder David Dobrik’s “vlog squad,” the social camera application confirmed what we heard earlier this year: It raised a $20 million round. It will be interesting to see when the company will be able to enter the private markets again, if it is able to.
- Turntable spins up beta apps for Android and iOS: Turntable, a similar but not identical application to Turntable.FM, is launching an early-release application for iOS and Android. Don’t forget that Turntable raised half a million dollars earlier this year. Or that a competitor, Turntable.fm, is back from the dead. Effectively having two startups in the market with the same name is very 2021.
From the world of fintech:
- NuBank $750M . enhances: The Brazilian neobank Nubank is now worth $30 billion and has an additional three-quarters of a billion dollars in the bank. Its new capital is an extension of its known Series G, albeit at a higher valuation. That is, this is a new era. But, hey, it’s 2021 and the rules are over.
- Corporate spending startup Airbase raised $60M . mobilize: After setting up a big new round on the heels of competing startups Ramp and Brakes, Airbase followed suit. The company is betting that its focus on midmarket companies and software will set it apart from its competitors.
Our regular funding round digest:
- What happens when you exceed easy consumer credit and subprime lending scores? Coffin is going to find out. The company raised $14 million to build what one of its founders called “Confirmation for Subprime.” So, buy-now-pay-later tooling, but for people with poor, traditional credit scores. Expect “confirm but for rich people” to come forward.
- Compose.ai Raises $2.1M So You Can Write Super, Really, Very, Amazingly Fast: The rise of GPT-3 has helped ClearTips get hip to all kinds of neat language-focused startups. Compose.ai is similar, even though it uses its own AI. It wants to help everyone write faster, and over time, gives companies the ability to have their own in-house language models to help keep everyone in the same tone. [ed note:😬].
- If you cross 3D-printing and rockets, you could raise a $650M raise: That’s the lesson Relatively Space taught us this week. It’s now worth $4.2 billion after its latest fundraising, and the company thinks it can print its new heavy rocket in 60 days. This will shake things up.
- And the world of warehouse robotics is far from complete: So says Gideon Brothers, a Croatian robotics startup that just raised a $31 million round. Per mike, “The investment will be used to accelerate the development and commercialization of GB’s AI and 3D vision-based ‘autonomous mobile robots’ or ‘AMRs’.”
Network security startup XtraHop exits and jumps to $900M
News broke this morning that Bain Capital Private Equity and Crosspoint Capital Partners are buying Seattle-based network security startup XtraHop.
Part of the Network Detection and Response (NDR) market, XtraHop’s security solutions are for companies that manage assets in the cloud and on site, “something that could be useful as more companies find themselves in that middle position.” Huh.”
A year ago, XtraHop was closing in on $100 million in ARR and was considering an IPO, so we talked to XtraHop CTO and co-founder Jesse Rothstein about how (and why) the deal came together.
(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
Our Apple coverage isn’t complete yet: The company’s Realty Kit 2 is about helping developers create 3D models from iPhone photos. It’s a neat sounding technology, but I have to admit I’m curious how it will be used in the market.
To close, Google is shaking up its Android search tool after running into a regulatory buzzsaw, and Ford is building a smaller hybrid truck. It’s very cute.