Tech.Co Deals Roundup: Medium Raises $57M, Business Insider Gets Acquired

September 29, 2015

3:12 pm

Today’s Tech.Co Deals Roundup is brought to you by National Coffee Day. Drink responsibly.

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Funding

Medium Raises $57M at Estimated $400M Valuation

Medium announced yesterday that it raised a whopping $57 million funding round for its content platform. The round was led by Andreessen Horowitz, which led a similar round last year in an investment in BuzzFeed – another rapidly growing media giant. According to people familiar with Medium, this second funding round for the company places it at a $400 million pre-money valuation.

uBeam Brings in $10M for Wireless Charging Technology

uBeam – a company that’s creating technology that allows for wireless charging through the use of ultrasounds – announced yesterday that it has raised $10 million from current and new strategic investors. Led by 26-year-old CEO Meredith Perry, the company also announced yesterday that it would be bringing in former Apple and Palm finance director Monica Hushen as CFO, and Jeff Devine (formerly of Cisco, Palm, and Nokia) as COO.

Urgent.ly Raises $7M for On-Demand Roadside Assistance Service

The McLean, VA-based Urgent.ly announced earlier today that it has brought in $7 million in Series A funding from Allianz Digital Corporate Ventures, Verizon Ventures, and Forte Ventures. This is a big win for the company, who’s only other investments include a seed round from CIT GAP Funds and a follow-up convertible note last October.

Boston’s Acquia Brings in $55M Investment

Acquia, the Boston, MA-based startup that sells website-building software to business and government customers, announced yesterday that it has raised $55 million in a new round of funding. To date, the company has raised nearly $189 million – with $50 million raised just last year.

Austin’s Civitas Learning Raises $60M in Latest Investment

Civitas Learning, an Austin, TX-based startup that’s helping universities improve engagement with students through its analytic software and services, announced yesterday that it has raised $60 million in new funding led by Warburg Pincus. Prior to this new financing, the company had raised $28.9 million in venture funding.

Acquisitions

Axel Springer Acquires Business Insider for $343M

The leading German digital publisher Axel Springer has announced that it has agreed to acquire approximately 88 percent of the shares in NYC-based business news media site Business Insider. Axel Springer is spending about US $343 million in the transaction, after which it will own around 97 percent of the company, with Amazon founder Jeff Bezos owning the remaining shares.

Let us know if we missed anything on today’s Tech.Co Deals Roundup by emailing us at editorial@tech.co.

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Ronald Barba was the previous managing editor of Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things. Aside from writing about startups and entrepreneurship, Ronald is interested in 'Doctor Who', Murakami, 'The Mindy Project', and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a "writer". Tweet @RonaldPBarba.

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