It was a fairly quiet week for B2B startups on the venture capital front: Just three companies landed funding, all of which in the U.S., totaling $26 million. One startup focusing on enterprise cybersecurity blew the competition out of the water, accounting for nearly 80 percent of the total funds raised. And investment plans are looking up, with two venture capital funds announcing their own latest raises headed toward the B2B FinTech space in the future.
Not only has CyberGRX officially launched operations, but the company said this week it raised $20 million from investors in support of its third-party risk mitigation service. The company helps businesses mitigate cybersecurity risks from their third parties, which can be anyone from their payment processor to an overseas supplier in their supply chain. The company said backers at Bessemer Venture Partners led the Series B funding round, which also saw participation from existing investors Aetna Ventures, Allegis Capital, ClearSKy, GV, MassMutual Ventures, Rally Ventures, TenEleven Ventures and others. The company said it will use the funds to push adoption of its platform, the CyberGRX Exchange, which provides a single portal through which businesses can assess their third parties’ risks — instead of having to send all of their third parties questionnaires, as is usually done.
With its eyes on the manufacturing space, LeanDNA is pushing for the adoption of artificial intelligence to help companies become more agile with inventory management. The software-as-a-service (SaaS) data analytics company raised $4.5 million in new funding, LeanDNA said this week, with backers at Next Coast Ventures leading the Series A round. The funds will be used on sales and marketing, the firm said, and to focus on product development. Its technologies can be integrated into procurement and reporting workflows, with Next Coast Ventures Managing Director Mike Smerklo describing the tool as one that provides “astounding results” for manufacturers’ inventory management.
Hyderabad Angeles provided $1.5 million in funding to Innovapptive, a U.S. startup that provides mobile workforce management solutions. The company offers a cloud-based platform through which enterprise asset management, field operations and supply chain professionals can manage their employees. With the new funding, Innovapptive said it would focus on product innovation and customer acquisition.
Reports this week said Nauta Capital has closed a $170 million fund thanks to a variety of international investors across the U.K., Europe, Latin America and China. The fund will be used to invest in about 25 startups, Nauta Capital said, and targets “highly capital-efficient Series A Software propositions.” To date, the company has invested in eight companies across the U.K., Ireland, Spain and U.S.
For its third SaaS venture capital fund, Notion Capital announced it raised $18 million. Based in the U.K., the venture capital firm said its third fund will target B2B SaaS companies across Europe, with key focuses in FinTech, digital marketing, customer management, Big Data, cybersecurity and more. According to a Securities and Exchange Commission filing, Notion Capital III LP was subscribed by two investors, reports said.