SimpleLegal – Cloud Based Enterprise Legal Management Software Raises $10M

SimpleLegal, a cloud based software to manage accruals, e-billing, legal matters and spend of enterprises was added to our portfolio in August 2013 and they were in seed round till the end of 2015. Since then company was growing on its own without requiring any extra funding. However, after experiencing the unplanned increased growth, they have now raised a Series A round of $10M to keep up the pace. We are very pleased to share about it and wish the very best for SimpleLegal.

This new round of funding is led by Emergence Capital, early investors in Salesforce and a slew of other successful cloud-based software companies (earlier investor RinconVP and Susa Ventures also participated). It is also another feather in the cap of Y Combinator, whose partners seem to have a knack for picking great legal start-ups (see e.g. Casetext, Ironclad, Legalist, Willing, Ross, just to name a few).

“We did raise our A Round earlier than planned. We always knew we were building a venture-backed company focused on growth. But, we also believe that enterprise software companies needed to take a different path than the typical Silicon Valley consumer-focused startup. Where their motto might be move fast and break things, in enterprise software with SOX and other compliance issues, our motto has to be get everything right, then move fast.“, said SimpleLegal CEO Nathan Wenzel.

Please read full story at Above The Law.


ShipBob – Ecommerce Order Fulfillment Service Raises Another $17.5M

Every year since 2015, we have something to share about our rapidly growing portfolio named ShipBob that offers fulfillment services like the ones of Amazon and Walmart to all online stores at affordable prices. Last year, it was about ShipBob raising $4M in Series A and now it’s about going through Series B funding round led by Bain Capital Ventures to raise another $17.5M. ShipBob now owns four warehouses in Chicago, New York, San Francisco and Los Angeles to deliver orders anywhere in continental US within two days.

Bain Capital Ventures led the Series B funding, which also included participation from existing investors Hyde Park Venture Partners, Hyde Park Angels, FundersClub and FJ Labs.

Dhruv Saxena, ShipBob’s CEO and co-founder, said companies can get deliveries to customers faster if they’re shipping from small regional warehouses, rather than one central hub. He said companies can, in some cases, get orders to customers same-day or next-day.

“That can be a major factor for the e-commerce businesses ShipBob serves, which range from 150 orders a month to more than 10,000 a day”, Saxena said.

ShipBob charges sellers a prenegotiated fee per shipment, as well as a fee for storing inventory based on how much space items require. Sellers pay ShipBob $35 each time they send a shipment from the manufacturer, as well as $5 per month for bins of items and $40 per month for pallets of items.

Please read the full story at Chicago Tribune.

Algolia – Hosted Search Engine API for Websites and Mobile Apps Raises Another $53M

Two years ago Algolia raised $18.3M in Series A round and now it has collected another $53M in Series B funding round led again by Accel. Algolia has got $74.22M of total funding till now. The excellent user experience, speed and accuracy offered by Algolia’s search engine are still making users go in love with it and developers love its reliability & scalability. We wish for Algolia to keep growing up and being loved by its customers.

Algolia is still growing like crazy, with its annual recurring revenue doubling every year. Algolia’s goal hasn’t changed — the startup wants to provide the best search experience to everyone building websites and apps out there.

The company now has 3,000 customers and handles 25 billion searches every month. Recently, the startup launched a fallback version of Algolia called Algolia Offline that you can use if you’re in airplane mode or don’t have a strong signal. Algolia also optimized its search feature for places.

With today’s funding round, Algolia is going to open another office in London after Paris, San Francisco, New York City and Atlanta. And of course, the company wants to get new customers, build new features and maybe one day become the Stripe of search.

Please read full story at TechCrunch.

Chewse – Online Office Catering Service Raises $7.3M

Chewse – an online catering service for office workers with tastiest meal programs has raised another $7.3M in Series B funding round led again by Foundry Group, with participation from Galvanize, Telegraph Hill Capital and Rocketship VC. The good news is, Chewse has become profitable after years of hard work and now serving San Francisco, the East Bay and also Los Angeles where the CEO of Chewse, Tracy Lawrence also won USC Stevens Student Innovator Showcase Award 2010 for Best Business Concept. This new funding would really help Chewse (often called as a Love Company by Tracy) to share its love with customers in more cities through its food and service.

Chewse became a Zillionize portfolio startup around three years ago and after an year they raised $5.9M in Series A round. With current Series B round, they have raised $15M in total by now. We are very happy for Chewse with their growth and wish them for the great success ahead.

Chewse is that rare example of a company that has flown under the radar while building a sustainable business, and finally believes it’s ready to take its service into other markets.

Over the last 16 months — the company has tripled sales and increased its margins by 50 percent, all while operating just in San Francisco.

After spending several years refining its playbook, the company re-launched service in Los Angeles yesterday. It’s the city founder and CEO Tracy Lawrence first launched the business from back in 2012, but Chewse retrenched in September 2015 as it raised money and got back to fundamentals. But now that it’s figured out a sustainable business model, Chewse is ready to prove itself in this new (old) market.

Please read full story at TechCrunch.