Here’s a list of today’s tech funding stories, updated as the day unfolds. Tip us here if you have a deal to share.
Norwest Venture Partners announced that it has raised $1.2 billion for its 13th fund, which it’ll use to support its sector and stage independent investment strategy. With this fund, the firm now has a total capital and commitment size of more than $6 billion.
This is the third consecutive $1.2 billion fund that Norwest has raised. The firm has made investments in companies like Blue Jeans Network, Casper Sleep, Honybook, IFTTT, Jet, Lumosity, Modcloth, Spotify, Uber, and Udemy. Norwest said that in the past 18 months, its portfolio has seen seven public offerings in the United States, India, and Israel, and 15 acquisitions.
Three months after Deezer’s scrapped IPO raised questions about its future, the Paris-based music streaming company announced it had raised $110 million in a critical vote of confidence from its partners.
“We can see that we are still at the beginning of a very fast-growing market,” said Deezer CEO Hans-Holger Albrecht. “We want to capture that growth and momentum.”
Albrecht joined the company in early 2015, coming aboard just in time to experience a transformative year for music streaming.
Founded out of Los Angeles in 2011, FreedomPop has built its mobile offering around giving away free mobile data, text messages, and talk time, in the hope that those who require more than the bundled allowance will pay to upgrade. The company has largely operated in the U.S. since its inception, though it made its first foray into international territories with a U.K. launch back in September.
Cisco and Verizon Ventures led a $25 million investment for Kumu Networks, the startup announced today. Deutsche Telekom and Swisscom also participated in the series C round.
To date, Kumu Networks has raised at least $45 million.
Hospitality app Alice welcomes $9.5 million round led by Expedia
Alice, a hospitality app that says to connect hotel teams with their guests’ requests, announced yesterday that it took in a $9.5 million investment led by Expedia.
The New York-based startup has the Gansevoort Hotel Group and The Setai Miami Beach, Viceroy and Dorint Hotels in its portfolio.
Laconia, 645 Ventures, and Neuehouse founders also participate in the round that sets Alice at $13 million in funding.
New York-based startup Jopwell announced today that it closed a $3.35 million seed round to help build its recruitment and hiring platform, which aims to increase diversity in the workforce.
Backed by Magic Johnson Enterprises and Andreessen Horowitz, Jopwell wants to give members of minority groups a boost in the job application process. Once users complete 60 percent of their profile, they get access to job postings in Jopwell’s partnered companies. After they apply for a position, Jopwell serves as an intermediary by highlighting the applicant’s profile.
This list will be updated with breaking funding news all day. Check back for more.
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