Small business lender Kabbage has raised $135 million in funding led by Reverence Capital Partners, ING, Santander InnoVentures and ScotiaBank. The investment round reportedly values Kabbage at more than $1 billion. China’s Yuan Capital and Japan’s Recruit Strategic Partners also participated in the funding, as did previous backers BlueRun Ventures, UPS Strategic Enterprise Fund, and Thomvest Ventures. Kabbage also announced the expansion of its credit facility to more than $900 million. “Lending is changing rapidly, with small businesses and consumers demanding a simpler and more customized experience,” said Milton Berlinski, Managing Partner of Reverence Capital Partners, who also has joined Kabbage’s Board of Directors. “While Kabbage’s growth is remarkable, we are more impressed with Kabbage’s ability to scale while economically acquiring customers, decreasing risk and gaining significant operating efficiency.”
Bit9 + Carbon Black, an endpoint security startup, has secured $54.5 million in Series F funding. Accomplice led the round, with participation from previous backers .406 Ventures, Blackstone, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and Sequoia Capital and new investors Evolution Equity and Founders Circle. The company will use the funds for product innovation and international expansion. “Protecting the endpoint is the number-one issue in cyber security today as organizations have realized that the network is not the target of advanced threats; it’s their endpoints—where a company’s digital information lives,” said Patrick Morley, president and CEO of Bit9 + Carbon Black. “Many vendors are trying to get into this space, including network security vendors, IT operations companies, and small startups. We invented the NGES market, and we have more success and experience in it than anyone.
Bracket Computing, which offers an enterprise solution allowing networking, applications and data management infrastructure to reside in a single software construct, has raised more than $45 million in a Series C funding round. New investors include Fidelity Management and Research Company and Goldman Sachs, while previous backers Allegis Capital, Andreessen Horowitz, ARTIS Ventures, Columbus Nova Technology Partners, Norwest Venture Partners, and Sutter Hill Ventures, plus strategic investors GE and Qualcomm all participated. The company has now raised more than $130 million. “Imagine if you could encapsulate your most sensitive applications, data, and services and have them run securely across leading hyperscale public clouds and your private cloud, all the while ensuring consistent security controls and data management capabilities,” said Jason Lango, CTO and co-founder of Bracket. “This is what a Bracket Computing Cell allows. It enables an enterprise without boundaries, without sacrificing security and control.”
Sales software startup SteelBrick has raised $48 million in Series C funding led by Institutional Venture Partners. Existing investors Emergence Capital, Salesforce Ventures and Shasta Ventures also participated. SteelBrick has now raised more than $78 million in the last 18 months. “SteelBrick is about helping our customers grow revenue more quickly and more profitably. With our newly expanded Quote-to-Cash suite, we make closing deals as easy as possible for sales teams, while we help our customers quickly recognize revenue and collect cash,” said Godard Abel, CEO of SteelBrick. “We’re thrilled to now have the capital and support from world class technology investors to build the company of our dreams.”