Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.
Top Stories of the Week
Georgian doubles down on Top Hat with $130 million USD investment as company swaps CEOs(BETAKIT)
The deal brings Georgian’s share to just below 50 percent majority ownership. SEC filings reviewed by BetaKit confirm a new Georgian Alignment Fund I, which sources indicated participated in the investment.
Hubba to shut down(BETAKIT)
An unconfirmed number of Hubba employees were also laid off as part of the decision (LinkedIn lists 45 current employees, with the majority located in Canada).
As founding partners step back, a new Real Ventures prepares to raise its next fund(BETAKIT)
Regarding the overall evolution and next phase of Real, Bannister told BetaKit, “We very much value diversity of thought [and] diversity of perspectives on the Real Ventures team.”
Fiscal third-quarter sees Lightspeed continue growth trajectory with revenue increasing 79 percent year-over-year(BETAKIT)
The Montreal company’s revenue totalled $57.6 million when accounting for the addition of its recent acquisitions, ShopKeep and Upserve.
Latest Funding, Acquisitions, and Layoffs
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MKB closes $100M (Read here)
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Flexiti Financial to be acquired by CURO (Read here)
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Vanrx Pharmasystems acquired by Cytiva (Read here)
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Athena Software to be acquired by Social Solutions Global (Read here)
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Certn announces $43M (Read here)
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Clover secures $12M in growth capital (Read here)
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Flosonics Medical raises $14M USD Series B round (Read here)
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VEERUM secures $7.4M in Series A financing (Read here)
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ChrysaLabs closes $1.3M seed round (Read here)
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sMedia Ventures receives $3.5M growth credit facility (Read here)
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Showbie raises $7.5M Series A extension (Read here)
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Cavelo raises $1.3M pre-seed (Read here)
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PMEit launches with $29M in funding (Read here)
RECOMMENDED BY BETAKIT
GOOD WEALTHSIMPLE, BAD FINTECH, UGLY INTERNET(BETAKIT)
Stonks were discussed. But we also discussed how business models differentiate trading platforms like Wealthsimple and Robinhood more than the underlying tech.
IS A COVID-FUELLED CLEANTECH BOOM POSSIBLE?(BETAKIT)
Climate change is right up there on the existential dread charts. Sounds like now is a really good time to talk about cleantech.
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