San Francisco

Blend's $130 million financing tops recent funding news in San Francisco

San Francisco-based home services and enterprise company Blend has secured $130 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion, announced June 24, was led by Temasek Holdings.

According to its Crunchbase profile, "Blend is a Silicon Valley technology company transforming the consumer lending ecosystem. Blend's technology delivers speed and efficiency to lenders, so they can serve the modern borrower and safely navigate the industry's changing rules and regulations. Founded in 2012, Blend is backed by Greylock Partners, Emergence Capital, 8VC, Founders Fund, Andreessen Horowitz, Lightspeed Venture Partners, Nyca, Max Levchin, and other leading venture investors."

The seven-year-old company has raised six previous funding rounds, including a secondary market round in 2018.

The round brings total funding raised by San Francisco companies in financial services over the past month to $922 million. The local financial services industry has produced 231 funding rounds over the past year, yielding a total of $6.3 billion in venture funding.

In other local funding news, a/b testing company Optimizely announced a $55 million debt financing funding round on June 18, financed by Bridge Bank.

According to Crunchbase, "Optimizely is the world's leader in customer experience optimization, allowing businesses to dramatically drive up the value of their digital products, commerce and campaigns through its best-in-class experimentation software platform. By replacing digital guesswork with evidence-based results, Optimizely enables product and marketing professionals to accelerate innovation, lower the risk of new features, and drive up the return on investment from digital by up to 10 [times]. Over 26 of the Fortune 100 companies choose Optimizely to power their global digital experiences."

Founded in 2009, the company has raised nine previous rounds, including a secondary market round in 2017.

Meanwhile, credit cards company Tally Technologies raised $50 million in Series C funding, announced on June 18. The round's investors were led by Andreessen Horowitz.

From the company's Crunchbase profile, "Tally is a financial automation company that helps users manage multiple credit cards. It is the first app to unbundle the credit card, putting power back into the hands of consumers. With Tally, consumers can use their credit cards without unfair APRs, costly fees, and hassle of managing multiple cards."

Tally Technologies last raised $25 million in Series B funding in 2018.

Also of note, email company Valimail Inc. raised $45 million in Series C funding, announced on June 19 and financed by Insight Partners.

From Crunchbase, "Valimail is an anti-phishing company that has been driving the global trustworthiness of email communications since 2015, with the only comprehensive solution for stopping fake email, protecting brands, and helping ensure compliance. The company's unique authoritative anti-phishing approach protects customers’ own brand against impersonation globally and also protects them from malicious emails by ensuring that only trusted domains are allowed into the inbox. Valimail has won more than a dozen prestigious cybersecurity technology awards and authenticates billions of messages a month for some of the world's biggest companies, including Uber, Fannie Mae, WeWork, and the U.S. Agency for International Development."

The company previously raised $25 million in Series B funding in 2018.

Rounding out the city's recent top local funding events, loyalty programs and transaction processing company SpotOn raised $40 million in funding, announced on June 11.

From Crunchbase, "SpotOn Transact LLC (“SpotOn”) is a payments and software company redefining the merchant services industry. SpotOn brings together payment processing and customer engagement software, giving merchants richer data and tools that empower them to market more effectively to their customers. The SpotOn platform offers the most comprehensive tools for small and medium businesses, including payments, marketing, reviews, analytics and loyalty, backed by industry-leading customer care."

The company previously raised $20 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.


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