San Francisco-based credit-card company Brex has secured $100 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced June 11 and led by Kleiner Perkins.
According to its Crunchbase profile, "Brex provides a corporate credit card called the Brex Visa for technology companies. It helps startups of all sizes (from recently incorporated to later-stage companies) to instantly get a credit card that has 20 times higher limits, completely automates expense management, kills receipt tracking and magically integrates with their accounting systems."
The 2-year-old startup has raised five previous funding rounds, including $100 million in debt financing earlier this year.
The latest round brings total funding raised by San Francisco companies in payments over the past month to $214 million, an increase of $92 million from the month before. The local payments industry has seen 93 funding rounds over the past year, securing a total of $2.1 billion in venture funding.
In other local funding news, real time company RapidAPI announced a $25 million Series B funding round on June 11, led by M12.
According to Crunchbase, "RapidAPI is an API marketplace that aids developers to connect directly to thousands of public APIs. APIs are the language that software uses to communicate and connect. RapidAPI lets developers manage all API integrations from one place and gives a real-time performance metrics."
Founded in 2014, the company has raised two previous rounds, including a $9 million Series A round in 2018.
Meanwhile, journalism company The Athletic raised $21 million in Series C funding, announced on May 29. The round was financed by Founders Fund.
From the company's Crunchbase profile, "Backed by Precursor Ventures, Y Combinator and other early-stage investors, The Athletic is a subscription-based, local-focused sports media brand targeting the premium fan segment. The company aspires to be the most credible voice in sports media by combining privileged locker-room access with a deep reliance on analytics and led by an experienced staff of professional sportswriters."
The Athletic last raised $40 million in Series C funding in 2018.
Also of note, wireless company Helium raised $15 million in Series C funding, announced on June 12 and led by Union Square Ventures.
From Crunchbase, "Helium is building the world’s first peer-to-peer wireless network to simplify connecting anything to the internet by rewarding anyone to become a network operator."
The company previously raised $20 million in Series B funding in 2016.
Rounding out the city's recent top local funding events, women's company Modern Fertility raised $15 million in Series A funding, announced on June 11 and financed by Forerunner Ventures.
From Crunchbase, "Modern Fertility is a women’s health company that empowers all women to make informed decisions about their health, starting with fertility. Modern Fertility takes the same lab tests previously confined to infertility clinics and makes them more accessible, by enabling women to administer a finger-prick at home or going to a nearby lab for a traditional blood draw for a fraction of the cost."
The company previously raised $6 million in seed funding in 2018.
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