World business news 16.06-22.06

With a new $46 million funding round, Instabug wants to do more than just cure your app’s flaws

Insight Partners led a $46 million Series B fundraising round for Instabug, a firm that promises to assist mobile developers monitor, discover, and resolve bugs within apps.

The funding comes little over two years after the company raised $5 million in a Series A round led by Accel, which increased its stake in the new round. Forgepoint Capital and Endeavor joined the round as new investors. The corporation has refused to publish its current market value. The latest funding takes the company’s total stock raised to $54 million.

Musk has put his Twitter purchase on hold until the network verifies that less than 5% of users are spambots

Elon Musk backed up his previous tweets this morning, essentially indicating that if Twitter CEO Parag Agrawal can’t back up assertions that the number of spam and/or bogus accounts is around the 5% the firm estimates, Musk’s acquisition of Twitter will fall through. It would be a shame if the tale didn’t go through after we put so much work into following it.

Jungle Ventures closes a $600M fund, bringing its total assets under management to over $1B

With the closing of its fourth fund, Singapore-based venture capital firm Jungle Ventures is expanding its footprint in Southeast Asia and India. Fund IV has a total investment pool of $600 million, with $450 million set aside for new investments and $150 million set aside for follow-up investments in portfolio firms. With the closing of the fund, Jungle Ventures now has over $1 billion in assets under management, making it the first independent, Singapore-based venture company that invests across Southeast Asia and India to do so.

QuestBook has raised $8.3 million to assist web3 developers in obtaining funding

Blockchain and other web3 projects are vying for developers’ attention by conducting hackathons, awarding prizes, and providing other incentives. However, they now lack the resources to analyze the large number of applications they get, excluding some of the same builders who could provide significant value to those projects.

QuestBook, a startup seeking to solve all of these problems, said today that it has secured $8.3 million in Series A funding to help it scale its work.

After doubling ARR last year, Block rival SpotOn raises $300 million at a valuation of $3.6 billion

SpotOn, a payments and software business, has raised $300 million in a Series F round, valuing the company at $3.6 billion.

Existing investors Andreessen Horowitz (a16z), DST Global, Franklin Templeton, and Mubadala Investment Company, as well as new investor G Squared, participated in the newest round, which was led by Dragoneer Investment Group.

Southeast Asian payments infrastructure unicorn Xendit banks $300M

Xendit, a Southeast Asian payments infrastructure company, has raised $300 million in new investment. The company’s new worth was not revealed, however it achieved unicorn status in September 2021 during its final round of investment. Coatue and Insight Partners led the fresh round, which brought the total amount raised to $538 million, with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Goat Capital.

Fetcher raises $27 million to automate portions of sourcing employment candidates

Fetcher, the talent acquisition platform formerly known as Scout, closed a $27 million Series B investment round today headed by Tola Capital with participation from G20 Ventures, KFund, and Accomplice, reflecting increased investor interest in HR technology businesses. The new funding — $7 million in debt and $20 million in equity — brings the startup’s total funding to $40 million, which co-founder and CEO Andres Blank says will be used to expand internationally and expand the Fetcher platform with new ATS integrations and customer relationship management capabilities.

Data intelligence startup Near, with 1.6B anonymized user IDs, lists on Nasdaq via SPAC at a $1B market cap; raises $100M

In the midst of a catastrophic market slump, the IPO window for technology companies has all but closed, but there is still hope in the form of SPACs. Near, a data intelligence company with 1.6 billion anonymized user profiles attached to 70 million locations in 44 countries, announced today that it will list on Nasdaq through a merger with KludeIn I Acquisition Corp., one of the many blank check companies set up to take privately held companies public, at a valuation “near” $1 billion. It will be listed on Nasdaq under the symbol “NIR.”

Belong raises $80 million to make rental property management easier

The relationship between landlords and tenants has a long history of being tense.

Managing a property and renting one, on the other hand, are not necessarily pleasant experiences.

Belong, a startup that promises to address both of these issues while also allowing tenants to save for house ownership, recently obtained $50 million in equity and $30 million in debt to expand its offers and markets. Fifth Wall led the equity round, with Battery Ventures, Andreessen Horowitz (a16z), and GGV Capital returning as backers. Fifth Wall halted the financing, according to Owen Savir, co-founder and president of Belong.


Your email address will not be published. Required fields are marked *