News from AlleyCorp - Q3 2021
3 new funds, 21 fundraising rounds, team growth, expansion in Canada and LatAm.
Dear AlleyCorp community,
We have exciting news to share across a variety of verticals here at AlleyCorp. In short: our core team has expanded to 13 investment professionals and 20 engineers for a total of 33 employees, we are launching several new focus funds, we supported our companies in raising 21 successful rounds of funding this year, we are expanding our AlleyCorp presence in both Canada and Latin America, and we are moving forward on several new ideas in myriad different industries.
$100M Healthcare Fund: We announced the launch of the AlleyCorp Healthcare Fund last week, a $100M physician-driven fund led by Brenton Fargnoli, MD and Jeff De Flavio, MD. We are confident this fund will launch the next generation of healthcare companies, responding to the growing need and opportunity to enable higher-quality, lower-cost healthcare for all. Omar Njie and Jane Suh have joined the team as associates, and Sherman Leung is an investor while in medical school.
$25M Social Impact Fund: We are excited to share the launch of our new $25M Social Impact Fund later this year. Leveraging many of the lessons we’ve learned from decades of building transformational companies, this fund will seed, support, and grow the next generation of nonprofit and for-profit entrepreneurs building for the common good. We are currently looking for a CEO or Partner to lead this fund, and welcome any recommendations from this community. Look out for a formal press release early in 2022.
$30M Robotics Fund: As we shared in our last update, we are also preparing to launch a $30M robotics fund alongside Eliot Horowitz (Co-Founder and former CTO at MongoDB), and we are hiring a Partner for this as well (ideas welcome!) We believe it is undeniable that robotics (both hardware and software) will play a continuously increasing role in our lives in the coming years.
As many of you know, we are also increasing our international involvement in a focused way. We are particularly interested in both Canada and Latin America for engineering/tech talent, investment, and incubation.
AlleyCorp Sur (Latin America): We will be launching a remote engineering team in Latin America early next year. The format will closely resemble what we have launched in Canada, with a large team of immensely talented engineering and product leaders that work with our startups. We are also making more investments in LatAm across both early and later stages, including Ualá which just raised $350M and where we were the first investor (below), Addi, which just raised $75M, as well as two new seed investments.
AlleyCorp Nord (Canada): Our engineering team in Montréal, Canada, has expanded to over 20 people and is rapidly growing. We will also continue to make investments in the Canadian ecosystem through incubations and investments — one of our initial investments in Canada, Properly, raised an $35M Series B this quarter.
On a personal level, we have enjoyed being together in France as a team for the first time, after hiring many of our new team members entirely remotely this year. A big part of our discussion was spent focused on the big ideas we are most excited about, and the fundamental trends that we believe will prevail over the next 10-20 years. It feels great to be full of new ideas - now comes the hard part, which is building them. We hope that as many of you as possible can join us.
Kevin
Recent Fundraises
Blueground, the global furnished apartment platform, raised $180M in Series C financing, led by WestCap.
Interos, the operational resilience company, became a unicorn with its Series C funding round. The $100M round was led by NightDragon.
Altana AI, which creates a single source of truth on the global supply chain, announced their $15M Series A, led by GV.
Bravely, a professional coaching platform, raised a $15M Series A, led by Telescope Partners.
Native Voice, an on-demand voice services ecosystem, raised $14M in Seed funding.
Humming Homes, an AlleyCorp incubation revolutionizing the home management and home service industry, raised a $5.6M Seed Round, led by Greycroft.
Healthcare Fundraises
Nomad Health, an AlleyCorp incubation tackling the healthcare staffing crisis, closed a $63M round of equity and debt financing, led by Adam Street Partners.
Thyme Care, an oncology care management solution, raised $22M in a round led by Andreessen Horowitz, AlleyCorp, and Frist Cressey Ventures.
Pearl Health, an AlleyCorp incubation, raised $18M in a round led by Andreessen Horowitz. Pearl’s technology provides primary care physicians with increased autonomy, outcome-aligned incentives, and actionable insights.
IpiNovyx Bio closed a $10 million Seed round led by Viva BioInnovator and Eli Lilly. The biopharmaceutical company is developing innovative treatments for autoimmune and inflammatory diseases, and was co-founded by Orange Grove Bio (an AlleyCorp portfolio company).
Affect Therapeutics, an AlleyCorp incubation, raised a $6M round. Affect is using digital technology to deliver the world's first evidence-based, substance-specific recovery program for stimulant use disorder.
Latin America Fundraises
Ualá raised $350M in Series D funding led by Softbank and affiliates of Tencent, at a post-money valuation of $2.45B. We have been thrilled to partner with Ualá since our seed investment in 2017.
Addi, the Colombian Buy Now, Pay Later company, announced a $75M extension to its Series B, led by Greycroft, bringing the round total to $140M.
Hardware and Robotics Fundraises
BlackSky, a geospatial intelligence company, rang the the opening bell at the New York stock exchange in September after going public via a $1.5B SPAC deal. This will enable BlackSky to go boldly into new markets.
Archer Aviation, a leading urban air mobility company, became the latest eVTOL firm to start public trading last month.
Dance, a German e-bike subscription company, raised $19.4M in a new funding round led by Eurazeo.
Transmutex closed their Series A, led by Union Square Ventures. The Geneva-based company has the ambition to deliver an entirely new nuclear energy process that will enable carbon-free energy without long-lived waste within the decade.
Canada Fundraises
Properly, a Canadian real-estate marketplace, raised a $35M Series B, led by Bain Capital Ventures.
Acquisitions
Bright Parenting was acquired by Maven Clinic to help bring their vision of an integrated model of parenting and pediatrics to life.
KidPass was acquired by Homer to accelerate the future of education through multi-format, multi-channel, and personalized learning.