Weekly Round Up: 8/07/20

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

• Magnetis, an automated wealth management solution, raised $11 million in recent financing with participation from Greenspring primary manager Redpoint Ventures.

• Moonbug, which owns some of the most popular kids content channels on YouTube, raised $120 million in a recent financing round with participation from Greenspring primary manager Felix Capital.

• Stuff That Works, an online platform where people with chronic disease can share information on effective treatments for their condition, raised $9 million in seed financing with participation from Greenspring primary manager Bessemer Venture Partners.

• Congrats to online dating app Bumble, backed by Greenspring primary manager Accel for surpassing 100 million users globally! Read more about this huge accomplishment here.

• Congrats to all of the innovative companies named to this year’s The Top 100 Software Companies of 2020, including Greenspring direct investments WalkMe, Kareo, Namely and Workfront, plus several companies backed by Greenspring primary managers like ActiveCampaign, Asana, Couchbase and many more! Check out the full list here.

• Crossbeam, an automated partnership data integration software company, raised $25 million in Series B financing led by Greenspring primary manager Redpoint Ventures.

• Rippling, a platform that manages all aspects of employee data, raised $145 million in recent financing led by Greenspring primary manager Founders Fund.

• Rigetti Computing, a quantum computing startup, raised $79 million in Series C financing led by Greenspring primary manager Bessemer Venture Partners.

• Ginger, which provides on-demand mental healthcare services, raised $50 million in Series D financing led by Greenspring primary manager Bessemer Venture Partners.

• Congrats to SpaceX, backed by Greenspring primary managers Founders Fund and Craft Ventures, for their successful launch of its 10^th Starlink Mission last night. Watch the full recap here.

Greenspring News

Last Friday Greenspring Managing General Partner Ashton Newhall presented to Girls Who Invest via webinar in a session entitled Reimagining the World Through Venture Capital.

Greenspring General Partner Hunter Somerville recently sat down with Blackbird’s Wild Heart podcast to discuss his belief in ANZ’s new wave of home grown talent building world class companies. They also discuss the importance of building trust between founders and investors when making fund decisions. Listen to this episode here.

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 Jack Simmons, Nicholas Mejia and Eli DeGregorio. Jack is a rising junior at University of Virginia where he is a member of the Men’s Varsity Lacrosse team. As part of the Investment Team, Jack is looking forward to soaking up as much knowledge as possible about the VC ecosystem. Nicholas is a rising senior at Loyola University Maryland where he is a part of the Men’s Varsity Golf Team. Eli is a rising junior at University of North Carolina at Chapel Hill where he is a member of the Club Ski and Snowboard Team. #InternAtGreenspring

While our internship program is virtual this summer our new team members are still finding ways to connect! Check out this shot from last week’s happy hour! #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.