The Funding Box: The Latest Startup And Funding Stories

 
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The Funding Box provides information on venture capital/private equity and startup funding. Here’s a list of top startup funding stories.

Redemption Games is getting big help from a top mobile gaming company. The US-based mobile game studio has raised $5 million in its funding round. Finland’s gaming giant Supercell, which best known for its mobile hit Clash of Clans, has acquired a minority stake in the US-based mobile game studio Redemption Games. The funding round represents Supercell’s first major investment in a US gaming operation. Redemption Games plans to use the fresh funds for the development and launch of new games.

Founded in 2015 and based in Carlsbad, California, Redemption Games is casual games startup founded by Michael Witz and Dan Lin. The two have also founded Mob Science, which was acquired by gaming studio SGN in 2013.

NetRate Systems, a Michigan-based workflow platform for commercial insurance, has received some fresh funding of undisclosed amount. Massachusetts-based investment firm Polaris Partners made the investment. As part of the deal, Dan Lombard, a partner at Polaris Partners, will be joining NetRate Systems’ board of directors, according to the latest reports. The company plans to use the fresh funds to fuel expansion plans.

Based in Okemos, Michigan, NetRate Systems provides a SaaS rating engine and workflow platform for the commercial insurance market. It focuses on providing services on program administrators, insurance carriers and managing general agents (MGAs). NetRate’s solution also provides data analytics and reporting features, which allows clients to track key business metrics and even meet complex government regulatory requirements.

Podium, a Utah-based customer communication platform for businesses who interact with customers on a local level, announced this week that it has received $60 million in its latest funding round. IVP led this latest funding round, with some participation from existing investors Accel and Y Combinator. To date, the company has already secured around $92.6 million in total funding, according to CrunchBase.

Founded in 2014 and based in Lehi, Utah, Podium provides a platform that helps businesses manage reviews and communicate with customers online. The company has changed the way business happens locally with a customer-focused platform designed to help businesses be found and selected. Additionally, its platform also helped businesses gain insight into their customers’ experience.


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Gett, an Israeli-based global ride-hailing app provider, has also received funding this week. The company has raised $80 million in its latest funding round. This latest funding round valued the Israeli company at $1.4 billion, according to the latest reports. Gett’s investors include Access Industries and Volkswagen. The company plans to use the fresh capital to expand its business. Overall, the company has already received $700 million in total funding. The company’s ride-hailing app is currently available in more than 100 cities.

Homebase, a US-based provider of software for local business owners, has raised $20m in its Series B funding round. Bain Capital Ventures led this latest funding round, with some participation from existing investors Cowboy Ventures, Khosla Ventures, and Baseline Ventures. Homebase plans to use the fresh capital to continue product development, customer adoption, and also forge new partnerships. Homebase has already secured $28 million in total funding.

Founded in 2014 and based in San Francisco, California, Homebase provides software that allows local businesses ( such as restaurants, retailers, and other Main Street businesses) across the United States to find candidates, manage job listings and hourly workforce, and even schedule interviews. The company’s products automate scheduling, timesheets, and communication among employees, it offers its products free with tiered pricing option for some additional features and supports.
In addition, Homebase also partners with the tools companies use in their daily business. These include ADP, Quickbooks, Square, Clover, and Gusto.

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