Podium Raises $125M and Launches Payments | Lendio Raises $55M Series E | Divvy Mediates $800M in PPP Loans in Five hours | Jolt Offers Free Sanitization Package | Learn In Raises $3.5M Seed Round
Podium Raises $125M, Launches Payments
The cloud-based customer interaction platform Podium recently announced a $125M Series C round led by Y Combinator's Continuity fund with participation from Accel, GV, IVP, Sapphire, and Summit. The company hit $100M ARR at the end of 2019. Prior to the closing of the raise, Podium announced a new payment product which allows its customers to collect payments from their customers.
We're also proud that, in response to Covid-19, Podium is offering local businesses free access to the basic tools needed to start messaging, accepting contactless payments and converting web traffic into business via Podium Starter. Shout out to Eric Rea, Dennis Steele and the entire Podium team!
Lendio Raises $55M Series E
Lendio, which provides a marketplace for small business loans, recently announced a $55M Series E round led by Mercato. The company plans to use the funds to continue supporting its current marketplace while introducing new bookkeeping and lender service functions. Through its digital platform, Lendio recently facilitated 4,000 SMBs being approved for $1B in PPP loans in a single day with 300 banking partners continuing to process their customers adding an additional $0.5B to that figure. The company has recently hired 170 new employees to keep up with demand. Congrats to Brock Blake, Brett Child, Trent Miskin and the rest of the Lendio team!
Divvy Mediates $800M in PPP Loans in Five hours
Divvy, the tech company proactively helping businesses manage expenses, rapidly shifted its resources to help small businesses connect with federal stimulus money due to Covid-19 and helped process some $800M in loan applications in just the first five hours of launching its portal. While numerous financial institutions have struggled to bring systems online to process applications for PPP loans, Divvy partnered with a tech-savvy lender and launched a 100% digital portal that optimizes speed and efficiency. We're proud to say that two Album alumni, Emily Smith & Dan Appel, led this new, critical initiative. Props as well to Blake Murray, Alex Bean, and the entire Divvy team!
Jolt Offers Free Sanitization Package
In an effort to help restaurants combat the spread of COVID-19, Jolt is offering free access to its sanitization checklists and content package. The company's software, available on smartphones and tablets, helps restaurants and businesses achieve team accountability, digital food safety compliance, and boost employee performance. Proud of Josh Bird, Tyler Slater, CJ Lewis & the rest of the Jolt team!
Learn In Raises $3.5M Seed Round
Learn In, the full-service upskilling benefits platform helping companies solve for every barrier that stands between them and the future of work, recently announced a $3.5M seed round led by Album with participation by GSV, Firework Ventures and Village Global. The company is the latest effort from lifelong learning platform Degreed Co-founders David Blake and Eric Sharp, along with Taylor Blake and Yael Gilboa Kaufmann. Learn In is on a mission to transform the modern workforce with a business model that features an upskilling-as-a-service platform, improving workforce assets of its clients through sabbaticals and even work reductions or furloughs as opportunities to invest in training to catch up or stay current with the modern workplace. Excited to back this incredible team!