Orchard Platform, an infrastructure provider for marketplace lending, has raised $30 million in Series B funding. Thrive Capital led the round with participation from Jon Windelried, Victory Park Capital, Thomvest Ventures and existing backers including Spark Capital, Canaan Partners, QED Investors, Nyca Partners, Conversion Capital, John Mack, and Tom Glocer. The company has now raised a total of $44.7 million and will use the latest funds to develop its technology platform further. “Our core business vision — of facilitating a faster and more fluid flow of capital through technology and access to data — has gained enormous traction,” said Matt Burton, CEO of Orchard Platform. “The market has responded and investors are committed to helping Orchard flourish. We’re excited to help continue shaping the future of credit.”
Argus Cyber Security, which provides cyber security for the automotive industry, has raised 426 million in Series B funding. Magna International, Allianz SE, the SBI Group, Magma Venture Partners, Vertex Venture Capital and Zohar Zisapel all invested. “Facing growing public concern and emerging regulatory oversight, the automotive industry clearly adopted a proactive approach towards cyber security. The projects we have completed and others we are now collaborating on with leading car manufacturers and industry players prove that cyber security has become a top priority for the industry’s key decision makers”, said Ofer Ben-Noon, Co-Founder and CEO at Argus.
Abra, a money transferring service, has raised more than $14 million in Series A financing. Investors included Arbor Ventures, RRE Ventures and First Round Capital. Abra enables users to store cash in any currency digitally on their phones, with no bank required. “As early proponents of Blockchain technology, we believe that Abra is one of the companies that’s fully leveraging the potential of the technology by reducing friction in financial services. It’s not about Bitcoin for the sake of Bitcoin – it’s about how the technology can solve problems for consumers worldwide, even if they don’t know what the Blockchain is,” said RRE Ventures Managing Partner and Abra Co-Founder Jim Robinson.
Everstream Solutions, a subsidiary of OneCommunity which aims to bring fiber-based services to healthcare, government and education customers, has raised $50 million from M/C Partners and investors advised by J.P. Morgan Asset Management. Under the terms of the deal, Everstream will acquire the majority of OneCommunity’s fiber assets and will be restructured as a standalone organization. “Our ability to access the private equity market to fund our expected growth is key to the success of the network and our continued support of hundreds of organizations across Northeast Ohio. This transaction also means more jobs in Cleveland, investment in the network and opportunity for our local partners,” said Brett Lindsey, currently chief operating officer of OneCommunity and president of Everstream, who will be CEO of Everstream going forward.