From credit cards to home repair, San Francisco companies are attracting new investment

From credit cards to home repair, San Francisco companies are attracting new investmentPhoto: Fleetsmith/Facebook
Hoodline
Published on April 23, 2019

San Francisco-based credit card company Brex has secured $100 million in debt financing, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced April 16 and financed by Barclays Investment Bank.

According to its Crunchbase profile, "Brex is rebuilding B2B financial products, starting with a corporate credit card for technology companies. They help startups of all sizes (from recently incorporated to later-stage companies) instantly get a credit card that has 20x higher limits, completely automates expense management, kills receipt tracking and magically integrates with their accounting systems. Brex was founded by Henrique Dubugras and Pedro Franceschi, two engineers who previously founded Pagar.me, one of the largest payment processors in Brazil with over $1.5 billion in GMV."

The two-year-old startup has raised four previous funding rounds, including a $125 million Series C round in 2018.

The round brings total funding raised by San Francisco companies in financial services over the past month to $729 million, an increase of $404 million from the month before. The local financial services industry has produced 223 funding rounds over the past year, securing a total of $4.8 billion in venture funding.

In other local funding news, IT management company Fleetsmith announced a $30 million Series B funding round on April 8, led by Menlo Ventures.

According to Crunchbase, "Fleetsmith helps companies put device management on autopilot by automating new device setup, inventory, patching, and security for their Macs, iPhones, iPads, and Apple TVs. It is trusted by companies like Robinhood, Segment, HackerOne, Clearbit, and more. Fleetsmith is based in San Francisco and backed by Menlo Ventures, Tiger Global Management, Upfront Ventures, and Harrison Metal."

Founded in 2016, the company has raised two previous rounds, including a $7.7 million Series A round in 2018.

Meanwhile, predictive analytics company 6sense raised $27 million in Series C funding, announced on April 16. The round's investors were led by Industry Ventures.

From the company's Crunchbase profile, "6sense is a B2B predictive intelligence engine for marketing and sales. Using its private network of billions of time-sensitive intent interactions, 6sense uncovers net-new prospects at every stage of the funnel and determines which existing prospects are in market to buy. 6sense predicts what products prospects will buy, how much they will buy and when."

6sense last raised Series B funding in 2015.

Also of note, home repair company Super raised $20 million in Series B funding, announced on April 17 and led by Aquiline Technology Growth.

From Crunchbase, "Super is a subscription service that provides care and repair for your home. Become a member and we’ll pay to repair or replace covered appliance and home system breakdowns. Super’s concierge service manages the logistics for all your home service needs."

The company previously raised funding in 2018.

Rounding out the city's recent top local funding events, virtual assistant company Rasa raised $13 million in Series A funding, announced on April 11 and led by Accel.

From Crunchbase, "Rasa is building the standard infrastructure for conversational AI. It develops an open source machine learning tools for developers to create contextual text- and voice-based chatbots and assistants. Rasa has raised $14 million in total funding from Accel, Basis Set Ventures and open source founders such as Ross Mason (MuleSoft), Mitchell Hashimoto (Hashicorp) and Florian Leibert (Mesosphere)."

The company previously raised $1.1 million in seed funding in 2018.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.