Bay house Funding Roundup: Fitbit, Cohesity, physician On Demand, Fetch
Fitbit’s mammoth preliminary public offering was once the enormous Bay house fundraising event of the week, roping in additional than $ seven hundred million for the company and giving investors who paid the IPO value of $ 20 a direct 50 p.c bump in the first day of trading Thursday.
however a couple of other companies in the area additionally scored some striking money:
—Santa Clara, CA-primarily based Cohesity emerged from stealth mode Wednesday to report that it had already raised a complete of $ 70 million from a roster of prominent challenge companies.
the company will use the cash to refine and launch the Cohesity information Platform, which is designed to interrupt down useful partitions between company information sets which might be regularly saved with more than one outdoor carriers. the idea is to assist firms more easily manage and mine all their data for insights, whether or not the tips is held within the expensive major storage reserved for mission-critical industry apps, or in the more cost-effective secondary storage used for purposes akin to archiving and backing up information.
Cohesity describes its CEO Mohit Aron as a pioneer within the box of “hyperconvergence”—combining secondary storage into a united platform along with computing functions. Aron helped design the Google File system as an engineer at Google between 2003 and 2007.
Google Ventures participated within the $ 55 million series B investment round Cohesity accomplished this month. The spherical was led by means of ARTIS Ventures and Qualcomm integrated, via its project funding staff, Qualcomm Ventures. Accel partners, Battery Ventures, and Trinity Ventures additionally invested. Cohesity had already raised a $ 15 million collection A round ultimate yr, led by Sequoia Capital and Wing challenge Capital.
—San Francisco-based totally doctor On Demand, a telemedicine company that provides fast video-based totally consultations with physicians, introduced this week it has closed a $ 50 million spherical of series B financing.
the corporate was once founded in 2012 with the aid of speak exhibit psychologist Phil McGraw—best often called Dr. Phil—his son Jay McGraw, and CEO Adam Jackson.
doctor On Demand says massive employers such as Comcast and Union bank & trust have turn out to be purchasers as a result of they favor its trade variation over that of older telemedicine providers that cost corporations subscription charges. physician On Demand expenses employers only when considered one of their staffers makes use of the provider by means of arranging a video appointment with a health care provider or psychologist enlisted in the company community.
Tenaya Capital led the collection B round, joined by means of new investors Qualcomm Ventures; Dignity well being; Anne Wojcicki; and other growth stage corporations. physician On Demand’s current traders Venrock, Shasta Ventures, and Sir Richard Branson additionally participated. The collection B brings physician On Demand’s total fundraising to greater than $ 74 million.
—San Jose, CA-based Fetch Robotics, which debuted its human-sized warehouse robots in late April, raised a $ 20 million series A round led by way of SB crew US, or “SoftBank.” Seed buyers O’Reilly AlphaTech Ventures and Shasta Ventures also participated. Fetch will use the money to strengthen its advertising and sales unit and to meet demand for the robots.
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