Deals

Funding Daily: March 12, 2014


Get all the tech funding news of the day delivered straight to your mailbox! Sign up for Funding Daily and never miss a deal.


Here are the day’s funding stories:

Quikr raises $90M

There’s big money in e-commerce — especially in India, whose web-browsing populace is on track to surpass the United States’ 260 million Internet users in the next few quarters. Indian classified ads site Quikr has raised $90 million in new financing, the startup announced this morning. It’s one of India’s fastest-growing companies, with over 30 million unique visitors per month and annual revenues of roughly $50 million (from traditional advertising and promoted listings). Read more on VentureBeat.

Credit Karma gets $85M

Google is bullish on free credit reports, apparently. Google Capital, the search giant’s newest venture fund, has poured $85 million into Credit Karma, a San Francisco-based startup that provides free credit scores to consumers. People visiting Credit Karma can take a free peek at their credit score weekly, which is based primarily on information from credit-rating agency TransUnion. The site has over 20 million registered folks, up from about 9 million a year ago, according to chief executive Ken Lin. Read more on VentureBeat.

L2 rakes in $16.5M

Venture capitalist Paul Sagan sounds quite enthusiastic as he opens our phone call about his firm’s latest investment. Sagan’s firm, General Catalyst Partners, just announced its lead in a new investment of $16.5 million in business intelligence firm L2, and he will now be advising a friend of over 20 years. L2 uses algorithms to track and analyze hundreds of data points about a variety of digital media. The company claims it’s figured out how to gather these points and slice them up by geography, categories, verticals, and so on. It also identifies trends and provides comparisons between brands in the same category. Read more on VentureBeat.

Azimo raises $10M

Expatriates in Europe, North America, and Asia received good news today with the announcement that Azimo, the low-cost international money transfer startup, raised a $10 million first round of funding for use in expanding into those markets. Focused on allowing fast, cheap, convenient, and secure money transfers, UK-based Azimo currently allows users to send money from four countries (UK, Germany, Austria, and Ireland) to over 192 countries. Read more on VentureBeat.

Omniata takes $5.2M

Omniata processes 23 billion events a month for game developers who need to understand their users and why they’re playing or dropping out of games. And because of that kind of reach, Omniata has been able to raise $5.2 million in funding. The San Francisco company is coming out of stealth today to describe its business: It provides analytics and engagement information to game companies and app makers such as Rovio, Electronic Arts, Miniclip, and Grand Cru. Read more on VentureBeat.

Tipbit receives $4M

I sometimes hate my phone. The dang thing hamstrings me when it comes to tacking email. But startups like Tipbit are determined to change this. Tipbit and its free iOS app stands a better chance of increasing the amount of work we can do with email on the go, having just received $4 million in new funding. Read more on VentureBeat.

TaxJar bottles up $600K

Sales taxes. Customers hate them, retailers hate them — or do they? Maybe not anymore. TaxJar, a San Diego-based provider of tax management software for online retailers, just picked up $600,000 in seed funding from several angel investors. “We’re solving what is perhaps the biggest administrative and compliance burden for small businesses — the headaches of sales tax,” said Mark Faggiano, TaxJar’s chief executive and cofounder. Read more on VentureBeat.