Weekly Round Up: 7/17/20

At Greenspring we believe in venture capital's ability to propel innovation, job creation and positive societal change. We celebrate those who think differently, take measured risk and challenge perceptions. Here's what's trending in VC this week: 

Portfolio News

• Congratulations to Twilio for their acquisition of Redpoint-backed Electric Imp, which makes it easier for businesses to connect their IoT devices with data centers! Read more here.

• Securden, an all-in-one security platform, raised $1.2 million in seed financing led by Greenspring primary manager Accel.

• With more employees working from home and fewer commuters on the roads, new trends in work and productivity are emerging. Navin Chaddha, Greenspring Industry Advisory Board member and Managing Director of Mayfield, discusses how his new schedule impacts his productivity and more here.

• Size inclusive online undergarment retailer ThirdLove, backed by Greenspring primary manager Felicis Ventures, has been working hard to support frontline workers throughout the COVID-19 pandemic. To date, the Company has donated over 1,000 undergarments to healthcare workers at UCSF Respiratory Clinic and Montefiore Hospital in the Bronx, sourced high quality elastics for other brands like Rothy’s working to make masks in-house and worked with one of their manufacturers to donate 2,000 surgical masks to UCSF. #VCforGood

• Auth0, a developer-centric identity and security platform, raised $120 million in Series F financing with participation from Greenspring primary managers Bessemer Venture Partners and Meritech Capital Partners.

• Aukland-based Narrative, a platform that helps make life easier for freelance photographers with tools, a website builder and more, has raised $2.58 million in seed financing led by Greenspring primary manager Founders Fund.

• The TechCrunch list, a directory of the most active and engaged investors in the VC industry, is here! Check out the list of 400+ investors featured, including investors from Greenspring primary managers Felicis Ventures, Accel, Amplify Partners, Redpoint Ventures, Benchmark and more here.

• Congratulations to Greenspring secondary investment Tipalti, the leading global payables automation platform, on surpassing $11 billion in annual transactions! Read more about the company’s momentum here.

• “VC is the most healthy part of the capitalist system.” Check out what Jeremy Grantham, GMO Co-Founder and Chief Investment Strategist, had to say about venture capital on CNBC, including why he believes the asset class is as dominant as ever in the video here.

• Cityblock Health, which brings healthcare services to neighborhoods where it is needed the most, raised $54 million in Series B financing with participation from Greenspring primary manager Redpoint Ventures.

• Glympse Bio, a lab committed to understanding and treating infectious diseases, raised $46.7 million in Series B financing with participation from Greenspring primary manager CRV.

• Sourcegraph, which provides Universal Code Search for developers, raised $5 million in Series B financing led by Greenspring primary manager Felicis Ventures.

Greenspring News

While impact is a developing vertical within the VC asset class versus a sprawling universe of established managers with existing track records, it is showing early evidence of a long-held belief at Greenspring Associates: impact's double bottom line represents a compelling investment case. Check out our recent blog post for more on why venture capital is the asset class of choice for sustainability-minded investors seeking to make the greatest impact on society, the environment and their bottom line.

We are thrilled to welcome over 30 interns to Greenspring this summer and will be highlighting our new team members over the course of their time with us. Join us this week in welcoming Alessio Ruvinov, Thompson Davis and Eric Ortero! Alessio attends the University of Maryland where he will be a senior this fall. Alessio assists with student research, and he is focusing on providing consulting for startups in East Africa. Alessio is enjoying soaking up the venture capital industry as a member of the Investment Team this summer. Thompson attends Elon University where he will be a senior this fall and is a member of the Club Baseball Team. Thompson is interested in learning more about the VC industry as a whole and looking forward to his experience on the Finance Team this summer. Eric graduated from Towson University this spring and is continuing his internship from the spring with Greenspring, into the summer. He hopes to continue to build upon the skills he has gained this past spring and is excited to be working on new projects this summer. #InternAtGreenspring

The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. In fact, the content is not directed to any investor or potential investor and may not be used to evaluate or make any investment.