The end of June came with a flurry of funding rounds and acquisitions closing out the second quarter of the year in San Francisco’s tech scene. There were multiple hundred-million-dollar rounds as well as a number of companies joining forces to create better products. Here’s what you may have missed last week. This is the Built In SF Weekly Refresh.
Intersect Power raised $750M. The clean energy resource developer will use its new funds led by TPG Rise Climate to scale its renewable energy portfolio and new product pipeline. Intersect Power develops clean energy resources that aim to provide low-carbon fuels, electricity and more. [Built In SF]
Clockwork was highlighted as a Future 5 startup. The robotics company creates AI-enabled manicure robots that cut the time and costs of traditional nail salons. A manicure with Clockwork only takes 10 minutes rather than an hour and costs $8 to $10. The startup hopes to expand into other beauty services in the future and scale its engineering and marketing teams. [Built In SF]
Pave acquired Advanced-HR and raised $100M. The Series C round led by Index Ventures was used to purchase Advanced-HR from Morgan Stanley. Some of the funds will also be used to expand Pave’s presence in Europe and other regions. Advanced-HR will bring its Option Impact platform to Pave’s compensation tracking offerings. [Built In SF]
Bay Area Tech Quote of the Week
Posh got $3.8M. Posh combines robotic arms and computer vision to automate the battery dismantling process. Following its seed funding, the lithium battery recycling startup was featured as part of Built In’s Future 5 series for Q2. [Built in SF]
Grain was featured as a Future 5 startup. The fintech platform gives users access to a revolving line of credit based on their current financial behavior rather than their credit score. The Oakland-based company aims to mitigate the risk of falling into debt and empower users to shop for what they need while also building good credit. Grain is currently hiring remote employees. [Built In SF]
Ontra acquired FundFormer. The contract automation and intelligence company acquired FundFormer, an electronic subscription document provider, for an undisclosed amount. Together the two companies will provide a comprehensive funds platform that help asset managers digitize contract workflows. [Ontra]
In other funding news: Customer communication platform Front raised $65 million in Series D funding, bringing its valuation to $1.7 billion. Front is also actively hiring. [Front]
PicnicHealth, a healthtech company that builds patient datasets for science researchers, raised $60 million in Series C funding to scale its medical data platform. The company is currently hiring for 19 roles. [Built In SF]
Blockchain-enabled digital asset infrastructure provider PolySign raised $53 million in Series C funding. [Business Wire]
Ria Health, a virtual alcoholism treatment program, raised $18 million in Series A funding. [Built in SF]
