Series A
The news that Yo has raised a Series A will do nothing to calm those fearing a tech bubble. The messaging app’s sole function is to send “Yo” back and forth between its users, but has secured $1.25 million in venture funding from Betaworks and Pete Cashmore (founder of Mashable). The financing values the company between $5 and $10 million, according to those familiar with the deal. Yo was founded by Mobli CEO Moshe Hogeg and is based in Israel. The app claims it currently facilitates 2 million “Yo’s” per day. While it is unclear what the app’s specific business strategy might be, it has been suggested that the application could be used for customer alerts.
The UK-based daily deal online furniture store Swoon Editions has raised £4 million ($6.8 million) from Octopus Investments and Index Ventures. The platform allows its subscribers to purchase boutique furniture directly from the producers before it has even been completed, dramatically reducing the need for warehouse space.
Series B
Threadflip, a peer-to-peer women’s shopping platform, has raised $13 million in Series B from Norwest Ventures and returning backers Baseline Ventures, First Round, and Shasta Ventures. The round brings the company’s total funding to $21.1 million. Threadflip is one of several companies attempting to become the chosen marketplace for Craigslist-type designer fashion. Competitors include Poshmark, Vinted, and Twice.
The parking reservation app, ParkWhiz, announced that it has raised $10 million from Jump Capital and existing investors Hyde Park Venture Partners, Alexis Ohanian (the Reddit co-founder who also became a partner at Y Combinator over the weekend), Amreesh Modi, and Henry Feinberg. ParkWhiz, which has now raised over $12 million, is joined by SpotHero as a venture-backed, Chicago-based parking startup.
Urban Compass, a New York-based real estate platform, has raised $40 million in Series B funding from Thrive Capital, Founders Fund, .406 Ventures, Advance Publications, Kenneth Chenault and Marc Benioff. Urban Compass has raised over $70 million to date and will use the funds to double its number of employees, currently 100. The company’s main focus is helping users buy and rent apartments in the New York market.
Funding
TradeBlock is the latest to benefit from Andreessen Horowitz’s bullish opinion of the cryptocurrency market. Incubated at Y Combinator but now operating out of New York, the company provides authoritative research, data, and analysis about developments in digital currency mining, markets, and regulation. Barry Sillbert, Devonshire Investors, and FinTech Collective joined a16z in the $2.8 million investment.