Friday, 2 February 2024

The state of startups in 7 charts

Plus, AI will do your taxes now

February 2, 2024

Hi, Agen. Last year saw the lowest level of startup funding in five years, witnessed valuations fall drastically, and offered little hope for IPO contenders. But is that all now in the rearview mirror? Let’s take a look at the current state of startups, in seven charts. Plus, increasingly, startups are turning to AI to help with auditing and accounting, as evidenced by a new $100 million funding to a new unicorn.

📊 The state of startups in 7 charts

From M&A activity to Web3 funding, let’s look at what’s happening in the startup world as seen through seven charts based on recent Crunchbase data.

🧮 AI will do more accounting if startup investors have their way

Ever wish an AI could just do your taxes for you? Increasingly, funded startups are turning AI to the tasks of accounting and auditing. The latest company to raise a big round taking this route is DataSnipper, an audit automation platform that yesterday announced a $100 million Series B financing at a $1 billion valuation.

Related Crunchbase Pro list: Accounting-Related Recently Funded Startups

🛑 Regulatory pushback scuttled over $70B in M&A deals

Amazon pulling the plug on its planned purchase of iRobot is just the latest deal to fall apart in a surge of antitrust scrutiny. Many large tech acquisitions have been pulled following pushback from regulators, and the value of those deals keeps mounting, our analysis shows.

Related Crunchbase Pro list: M&A Involving VC-Backed Startups In 2023

🤔 5 interesting startups that got money in January

AI is still big and doing intriguing things, making humanoid robots to help around the house more viable, and driving investor interest in a startup that applies artificial intelligence to its parent-led autism therapy. Let’s look at five interesting funding deals you may have missed last month.

🛒 When will big-spender PE firms resume buying software startups?

Over the past five years, the most-active PE buyers have collectively spent more than $36 billion to buy dozens of private companies in the space, Crunchbase data shows. But M&A deals for private companies peaked in 2020 and 2021, and slowed considerably in recent quarters, with a similar trend playing out for PE purchases of both public and private software companies.

Related Crunchbase Pro list: Software Startup Acquisitions By The Most-Active Private Equity Buyers

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Recent Investments

Metronome

$43M / Series B

Metronome is a usage-based billing platform that helps companies to implement new business models and launch products faster.

Categories:

Enterprise Software • SaaS • Software

Founders:

Kevin Liu, Scott Woody

Investors:

New Enterprise Associates (Lead), Andreessen Horowitz, General Catalyst

Owner

$33M / Series B

Owner.com develops a digital marketing platform to help restaurants generate revenue and manage their online presence.

Categories:

Marketing • Restaurants • Sales Automation • Software

Founders:

Adam Guild, Dean Bloembergen

Investors:

Altman Capital (Lead), Redpoint (Lead), Activant Capital + 2 more

Benepass

$20M / Series B

Benepass is a benefits administration platform that helps companies manage and distribute employee perks and benefits.

Categories:

Employee Benefits • Enterprise Software • FinTech • Human Resources

Founders:

Jaclyn Chen, Kabir Soorya, Mark Fischer

Investors:

Portage Ventures (Lead), Clocktower Technology Ventures, Gradient Ventures + 2 more

Aquaconnect

330M INR / Series B

Aquaconnect is an aquaculture platform that uses AI and satellite remote sensing to decarbonize the seafood value chain.

Categories:

AgTech • Aquaculture • Artificial Intelligence (AI) • FinTech • Seafood

Founders:

Rajamanohar Somasundaram

Investors:

S2G Ventures (Lead)

More Fundings

Company Amount / Round Lead Investor
Generate Capital $1.5B / Private Equity Round -
All Recent Funding Activity

Recent Acquisitions

Specialty Networks

Pending acquisition by Cardinal Health for $1.2B

More Acquisitions

Company Acquired By Amount
Vision-Box Amadeus 320M EUR
All Recent Acquisition Activity

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