Quite a few companies announced big news last week, helping grow the ever-evolving Bay Area tech scene. Find out who’s going public, who raised fresh funding and more. This is the Built In SF weekly refresh.
Nextdoor is going public via SPAC. The neighborhood social network platform is planning a reverse merger with a special purpose acquisition company sponsored by an affiliate of Khosla Ventures. The deal will also include a $270 million investment and will boost Nextdoor’s valuation to $4.3 billion. The transaction is set to close later this year, and Nextdoor will trade under the ticker symbol “KIND.” [Built In SF]
mmhmm raised $100M. With a fresh round of funding, the company has raised $140 million to date for its platform that offers video conferencing software. The platform comes with features like automatic background removal and dynamic presentation features. Investors led by SoftBank’s Vision Fund contributed to the round, alongside Sequoia Capital and others. [TechCrunch]
SF Tech Quote of the Week
Skedulo pulled in $75M. Its cloud-based workforce management platform provides enterprises with tools to manage, engage with and analyze the work of deskless employees. Skedulo just closed on a Series C round led by SoftBank’s Vision Fund II to invest in scaling up its platform and fueling international expansion. It’s also currently hiring for a few positions across marketing, sales and CX. [Built In SF]
Coda got $100M. As remote work has become the new norm, cloud-based document developer Coda is planning to pursue further growth with its latest injection of funding. Following its Series D round, Coda is looking to build out its all-on-one docs editing software. The round was led by the Ontario Teachers’ Pension Plan Board. [Coda]
Instawork secured $60M. The company operates a staffing platform that helps businesses connect with local, hourly professionals. Instawork’s Series C funding round led by Craft Ventures brings the startup’s total funding to $100 million. With the fresh capital, Instawork plans to expand into additional markets, job categories and industries as well as professional training and development. [PR Newswire]
Blend to file for IPO. Working in the lending space, Blend’s digital platform provides users with tools that help simplify applications for mortgages, consumer loans and deposit accounts. It announced its plans to go public and sell 20 million shares of Class A stock at $16 to $18 per share in an effort to raise a reported $360 million. The company will trade under the ticker symbol “BLND” and could achieve a $4 billion valuation following its IPO. [PYMNTS]
Mux made new executive hires. The video tech company recently announced the addition of several new members to its executive team. Names include Maya Spivak as head of marketing, Ike DeLorenzo as head of product, Roni Feldsher as head of customer success, Jessica Iyer as head of talent, Jaime Ortiz as head of business operations and finance and Rachel Belkin as head of sales. Mux is currently hiring with plans to double its 100-person headcount by the end of the year. [Mux]
In more VC funding news: With its no-code software that helps businesses keep tabs on fraudulent activity, Unit21 got a $34 million Series B led by Tiger Global to expand its tech and invest in its engineering, research and development and go-to-market teams. [TechCrunch]
Intellimize closed on a $30 million Series B for its AI-based platform that creates personalized web pages for visitors in real time. Cobalt Capital led the round that brings the company’s total funding to over $50 million. [VentureBeat]
Providing enterprises with its talent management software, Censia pulled in a $21 million Series A round led by Marbruck Investments to expand go-to-market efforts, scale its offering and invest in product innovation. [PR Newswire]
