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Real estate services company Redfin secures $70.9m investment

December 18, 2014

Series A

Expect Labs, the company behind intelligent voice interface platform MindMeld, has raised $13 million in Series A financing led by IDG Ventures and a subsidiary of USAA. The round also included Intel Capital, Samsung Ventures, Telefonica Digital, Liberty Global Ventures, Fenox Ventures, Westcott LLC and Quest Venture Partners. All of these new investors were joined by previosu backers Google Ventures, Greylock Partners, Bessemer Venture Partners and KPG Ventures. The MindMeld platform is cloud-based and helps companies create voice experiences for their apps. Expect Labs has raised a total of $15.4 million and launched MindMeld earlier this year. “In just a few years, there will be three billion computing devices with microphones on the planet, but fewer than 5% of those will have keyboards,” Tim Tuttle, CEO and founder of Expect Labs said in a press release. “In this world, natural voice interfaces will be essential for finding information quickly and accomplishing tasks efficiently.”

Series B

Adelphic, a mobile advertising company, has raised $11 million in Series B funding led by Blue Chip Venture Company, with participation from Matrix Partners and Google Ventures, both previous backers. The company will use the funds for international growth for its programmatic advertising technology. “The performance and efficiency of our platform allows brands to quickly understand how much more they can do with their mobile ad spend,” said Michael Collins, CEO of Adelphic. “This funding round allows us to continue influencing the future of marketing by expanding a DSP that creates more meaningful engagement opportunities for our clients with their audiences – illuminating the real consumers behind their devices.”

Funding

Redfin, a provider of real estate search and brokerage services, has secured $70.9 million in an investment round led by Wellington Management Company and Glynn Capital Management. Brothers Brook, Annox Capital Management, T. Rowe Price Associates and Tiger Global Management, all previous investors, participated. The company will use the finds to continue expanding into new markets and to further develop its technology. “Redfin will put this capital to good use,” Redfin CEO Glenn Kelman said in a statement. “As our business grows, our agents can be more local, and our ability to get people into homes quickly increases. With more market-share, we can pair buyers and sellers more efficiently. We have already seen this happen over the years in our most established markets, but now we can invest in accelerating that process in new markets.”

Bain Capital and Technology Crossover Ventures have invested $30 million into security analytics software startup Rapid7. The company’s services aim to drastically reduce incident detection and response speeds. “At Rapid7, we design our products and services with a relentless focus on making it easier for enterprise customers and organizations to execute effective security programs. We believe companies can be successful in security without slowing down their business,” said Corey Thomas, president and CEO of Rapid7 in a press release. “This infusion of funds will enable us to capitalize on the tremendous growth and success we have seen this year by accelerating our leadership, market share, and development in intruder analytics and services, while continuing to innovate to better serve our existing customer base.”

 

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Filed Under: Finance, Investment Round Up, Startups

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