Uber has raised $1.2 billion in investment, valuing the company at more than $40 billion. The car-hailing app did not reveal the investors in its latest round of funding but the valuation is more than double what is was said to be worth in June, when Fidelity Investments and BlackRock, among others, participated in another $1.2 billion investment. Uber shows no signs of stopping there, and is reportedly looking to sell another $1 billion in debt and an additional $600 million in stock. Uber CEO Travis Kalanick wrote in a blog post: “This financing will allow Uber to make substantial investments, particularly in the Asia Pacific region.” Kalanick also addressed recent internal issues at the company, which have surrounded the corporate culture of Uber and the behavior of drivers. “The events of the recent weeks have shown us that we also need to invest in internal growth and change. Acknowledging mistakes and learning from them are the first steps,” he wrote.
Health tech platform Maxwell Health has secured a $26.4 million Series B financing round led by Adams Street Partners. Cambia Health Solutions and Schooner Capital joined the round, along with Brothers Brook and Annox Capital. Existing investors including Vaizra Investments, Tribeca Venture Partners, Catalyst Health Ventures, Serious Change and Lerer Hippeau Ventures all participated. Maxwell’s platform includes a benefits marketplace, an administrations system and a mobile platform for employees to manage their health. “Maxwell Health is disrupting an exciting industry that’s ripe for change,” said Tom Bremner, Principal at Adams Street Partners. “We’re thrilled to partner with a team like this on a product that’s changing the way companies, and more importantly, consumers everywhere think about and engage with their health and benefits.”
WedPics, a photo and video-sharing app for weddings, has closed a $4.25 million Series B funding round led by Bullpen Capital. OCA Ventures, Venture 51, IDEA Fund Partners, Great Oaks and angel investors have invested so far, with the company aiming for a second close involving the AngelList syndicate.
CloudOne, which helps bring enterprise applications to the cloud, has raised $4.5 million in Series D investment led by Plymouth Ventures. The company will use the funds to expand its hybrid cloud platform, used by the likes of Panasonic and McDonalds. “This investment and the expertise of Plymouth Ventures provides our team even more strength to continue broadening our technology platform and bring our customers new innovations that make it easier, faster and more economical to make products for the Internet of Things,” said John McDonald, chief executive officer of CloudOne.