MX Raises $300M Series C | Podium, Homie & Lendio Make Deloitte Fast 500 | Divvy Raises $165M Series D | GuideCX Raises $10M Series A | Neighbor Facilitates Office Rentals, Founders Make Forbes List | Route Raises $35M Series A | TaxBit Brings on Strategic Investors, Partners with Gemini | Transfr Raises $12M Series A | Diogo Myrrha Shares a Message with the Next Generation of Utah Startups

Fund I

MX Raises $300M Series C

MX recently announced a $300M raise led by a $150M investment from TPG Growth with additional participation from new and existing investors including CapitalGGeodesic CapitalGreycroft, and more. In the last 12 months, the company has increased its valuation to $1.9B, powering more than 2,000 banks, credit unions, fintechs, and technology companies, as well as 85% of digital banking providers, with a combined reach of over 200 million consumers. Congrats to Ryan CaldwellBrandon Dewitt and the entire MX team!

Podium, Homie & Lendio Make Deloitte Fast 500

Three Fund I portfolio companies (PodiumHomie & Lendio) made Deloitte's 2020 Technology Fast 500 list. The ranking is compiled based on submitted applications and public company database research, with winners selected based on percentage fiscal-year growth over a three-year period. Kudos to these three companies and their leadership!

Fund II

Divvy Raises $165M Series D

Divvy recently announced that it closed a $165M round from HanacoSchonfeldPayPal Ventures and Whale Rock. The $1.6B valuation and the addition of key investors validates Divvy’s ambition to modernize financial processes by combining credit, vendor, and spend management into a single platform. With this round of funding, Divvy plans to invest heavily in product development and engineering in order to accelerate their roadmap. Shoutout to Blake MurrayAlex Bean and the rest of the Divvy team!

GuideCX Raises $10M Series A

GuideCX announced a $10M Series A led by Sorenson Ventures, with previous investors, Album & Prelude, and new investors, Epic & Orchard, also participating among others. This round of capital will be used primarily to expand the engineering team to further develop the product offering. Congrats to Pete OrdTodd WhiteHarris Clarke and the entire GuideCX team!

Neighbor Facilitates Office Rentals, Founders Make Forbes List

Neighbor’s primary business is signing up residents with a spare garage or unused bedroom who want to rent it out for storage use, but as the pandemic forced retailers to shutter and companies to close their offices, it has added more landlords as new commercial tenants have been hard to find. The Wall Street Journal and Cheddar took note covering the startup late last year. Also of note, Forbes recognized Neighbor’s Co-Founders (Joseph WoodburyPreston Alder, and Colton Gardner) on its 2021 Consumer Technology 30 under 30 list. Proud of what these Founders and the Neighbor team are contributing to society amid the pandemic!

Route Raises $35M Series ANeighbor Facilitates Office Rentals, Founders Make Forbes List

Route announced in December a $35M Series A led by Craft Ventures. The company surpassed the $50M run rate mark and was serving around 3 million customers per month coming through 6,500 merchants as of the time of the announcement. Shoutout to Evan WalkerMike Moreno and the entire Route team!

TaxBit Brings on Strategic Investors, Partners with Gemini

TaxBit recently announced new, strategic investments from PayPal VenturesCoinbase Ventures, and existing investor, Winklevoss Capital. These new investments from major fintech companies reinforce the importance of tailored software solutions, like TaxBit, in driving widespread cryptocurrency adoption. Also, late last year, Gemini announced it would begin implementing TaxBit’s Tax Center Suite technology to automate and optimize its customers’ cryptocurrency tax reporting, making it simple and easy for them to complete their crypto taxes. We’re excited for Austin WoodwardJustin Woodward and the TaxBit team!

Fund III

Transfr Raises $12M Series A

Transfr announced a $12M Series A led by Firework Ventures. The money will primarily be used to grow Transfr’s catalog of virtual reality training simulations which include manufacturing-plant shop floors and warehouses. The company is also behind a statewide initiative in Alabama where its software is being used in the community college system and industrial workforce commission for re-skilling purposes. We’re excited about what Bharani Rajakumar and the Transfr team are doing to help the millions of workers displaced by the pandemic safely and effectively learn a trade!

Other News

Diogo Myrrha Shares a Message with the Next Generation of Utah Startups

Silicon Slopes published a piece written by our very own Diogo Myrrha in its Winter 2020 issue titled “My Message to the Next Generation of Utah Startups: Build on Conviction” which you can read here.

-The Album Team