Andela Expands Globally | Degreed Raises $153M at $1.4B+ Valuation | Baller TV Launches Player NFTs | Divvy Acquired by for $2.5B | Filevine Acquires Outlaw | Spiff Announces $46M Series B | The IRS Selects TaxBit as Software Partner | Elektrik Raises $1M Seed Round

Fund I

Andela Expands Globally

Andela, which helps tech companies build remote engineering teams, recently announced the global expansion of its engineering talent. From October to April, the company has seen a 750% increase in applicants outside Africa. More than 30% of Andela’s inbound engineer applications also came from outside the continent in March alone. Half this number came from Latin America. Andela has engineers from 37 countries across Africa, Asia, Latin America, North America and Europe. Hats off to Jeremy Johnson and the Andela team.

Degreed Raises $153M at $1.4B+ Valuation

Degreed, which connects learning, talent development & internal mobility opportunities in one place, raised a $153M Series D valuing it at over $1.4B. Sapphire Ventures and Riverwood Capital led the round, which will be used to speed product development and global expansion and pursue acquisitions. The company also announced a leadership change, with Dan Levin former COO of Box, taking the helm as CEO. We are thrilled for him, Chris McCarthyDavid BlakeEric SharpKat Kennedy and the rest of the Degreed team!

Fund II

Baller TV Launches Player NFTs

BallerTV, a streaming service that provides access to youth sports games, has taken a big step toward bringing non-fungible tokens (NFTs) and sports together. While there have been many athletes and teams that have released NFTs, BallerTV is the first to offer high school players a chance to monetize their likeness by selling them. 

The BallerTV x Pangos NFT will feature highlights from the 2021 Pangos All-American Camp, a well-recognized showcase for the top 120 high school basketball players in the country with many NBA MVPs as part of its alumni. The limited-edition digital collection will consist of the best 30 players at the camp who will have an NFT of themselves minted that includes on-court footage of their performance. Excited about this innovation by Aaron HawkeyRob AngaritaSandeep Hingorani and the BallerTV team!

Divvy Acquired by for $2.5B

Divvy, a spend management solution that gives businesses credit and the software to manage it, was acquired by, a leader in cloud-based software automating back-office financial operations. The deal entailed a stock and cash transaction valued at approximately $2.5B just five years after the company was founded. Congrats to Blake MurrayAlex Bean, and the entire Divvy team!

Filevine Acquires Outlaw

Filevine, whose software acts as the operating core for legal, announced that it acquired Outlaw which had become the #1 Momentum Leader on for contract management by reimagining document creation, editing, and real-time, end-to-end collaboration for legal. The companies believe that the future of legal work will be one where contracts, databases, and documents are merged together. Kudos to Nathan MorrisRyan Anderson, and the rest of the Filevine team!

Spiff Announces $46M Series B

Spiff, whose software provides sales reps with personalized, real-time commission portals, announced it raised a $46M Series B led by Lightspeed Venture Partners with Salesforce Ventures and Stripes also participating as new investors. With this infusion of capital, the company will add five or more team members each month. It will also add sales performance functionality to its platform reflecting input from sales reps of its clients. Shout out to Jeron PaulJean-Philippe MaitreTanner LaceyAlbert Candari and the entire Spiff team! 

The IRS Selects TaxBit as Software Partner

TaxBit, which provides cryptocurrency tax software for consumers, enterprises and government entities, was recently selected by the IRS as a subcontractor under DPI, Inc. to provide data analysis and tax calculation support for taxpayers with cryptocurrency. Working hand-in-hand with several of the leading cryptocurrency platforms, TaxBit is also developing the industry's first Big Four & SEC grade accounting ERP solution that will publicly launch later this year, along with plans for international expansion in 2021. We're pumped for Austin WoodwardJustin Woodward and the TaxBit team!

Fund III

Elektrik Raises $1M Seed Round

Elektrik, the "Amazon-style" store-front for high voltage electrical supplies, raised a $1M seed round led by Album. After completing Techstars Fall 2020, Elektrik signed an agreement with Southwire, the largest cable manufacturer in North America. The company intends to become the leading supplier globally for both IEEE and IEC electrical equipment. We're stoked for Mario DealbaJosh Burns, and the Elektrik team! 

Intern Spotlights

The BYU Marriott School of Business recently named one of our former interns, Stephanie Maynes Aldous, among its Hawes Scholars. This honor carries the highest distinction given to MBA students at the business school, and we couldn’t be prouder of Stephanie!

Former intern, John Koelliker, recently launched his startup, Leland, out of Stanford GSB. The company unlocks access to higher education by providing a marketplace where applicants can find, evaluate and work with an expert independent coach who can help them get into their dream school.

We’d also like to introduce you to our Summer 2021 interns Emma Casey and Katelyn Bledsoe. We couldn’t be more excited to have these two women contributing to our mission!

-The Album Team