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Funding Daily: Veteran’s Day


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Veteran’s Day is an official federal holiday observed on November 11th every year to celebrate the service of all U.S. military veterans. Since it fell on a Sunday this year, the government and many other businesses are closed today and events were held around the country, including parades, ceremonies, and thank-you dinners. As a result, it was a slow day for investment news, but there are still a few stories that filtered in. And in my own little corner of the internet, I would like to say thank you to my sister Sarah for her service in the Marine Corps.

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Frequent traveler perks are not enough: Concur dedicates $150M to simplifying business trips

Concur, a company that provides a suite of solutions for the corporate travel industry, has formed a $150 million fund to invest in startups developing tools for travel and expense management. This pool is called the Concur Perfect Trip Fund and will be dedicated to developing cloud products that contribute to the overall goal of creating a frictionless ecosystem for business travel. Portfolio companies include buuteeq, Cleartrip, Room 77, Taxi Magic and Yapta.

Along with this announcement, Concur also disclosed a $2 million investment in Evature. Evature has created an Expert Virtual Agency which provides natural-language search capabilities for online travel planning. Read the press release.

‘Amazon for Asia’ Lazada pulls in another $40 million

Southeast Asian e-commerce giant Lazada has raised $40  million to support growth. Lazada, active in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, and described by tech press at launch as an “Amazon clone in Asia”, recently added fashion to its repertoire of consumer electronics, household goods, toys, and sports equipment. Swedish bank Kinnevik is investing a fresh $40 million into online super-mall, following news of a double-digit million funding round from JP Morgan for Lazada in September. Read more on VentureBeat.

DoubleDutch hops to it with $4 million 

Jumping rope, like running a startup, is all about being quick on your feet. The ability to work on a mobile platform is crucial for this, enabling productivity anytime, anywhere. For its mobile-first, enterprise CRM applications, DoubleDutch reigned in $4 million in its second round of financing. This round was led by Floodgate Fund, with participation from Bullpen Capital and Lightbank. Read the press release.

LiveU raises $27M to fuel the future of portable video uplink 

How much money is LiveU’s 4G LTE-equipped LU70 backpack worth? At least $27 million, according to the company’s latest funding round. The portable video uplink company has become the go-to for companies looking to uplink HD video while on the field. Broadcasters as big as BBC News and NBC already rely on the technology, and it’s that reliance that’s fueling LiveU’s growth. Joining the funding this time around is Lightspeed Venture Partners, which joins existing backers Canaan Partners, Carmel Ventures and Pitango Venture Capital. Read more on VentureBeat.