Deel Valued at $5.5B, Wonolo Raised $138M, and More Bay Area Tech News

Here’s what you may have missed in the world of SF tech.
Written by Delilah Alvarado
October 25, 2021Updated: October 25, 2021
Wonolo / Facebook
Photo: Wonolo / Facebook

Following funding announcements and more last week, there is a lot to catch up on in the world of San Francisco tech. Read up on the latest Bay Area news. This is the Built In SF weekly refresh.

Wonolo raised $138MThe staffing platform aims to address the labor shortage with this latest funding round. Wonolo plans to connect workers with retail, distribution, fulfillment and e-commerce jobs. Some of Wonolo’s clients include Uniqlo and Coca-Cola. [Built In SF]

Rippling pulled in $250M. The employee management platform has now reached a $6.5 billion valuation following its latest investment round led by Sequoia Capital. The company offers employers the ability to handle payroll, benefits, HR and IT operations all on one platform. It has raised a total of $447 million, including a $145 million Series B announced last August. [Built In SF] 

Honeycomb closed on a $50M Series CThe platform that analyzes and improves cloud applications for performance engineering teams announced a $50 million funding round. The cash will be used for many efforts, including expansion, outreach programs and delivering more features. [PR Newswire]

SF TECH QUOTE OF THE WEEK

“We founded [the company] because we didn’t want hiring or payments to prevent businesses from building the best global teams and finding the best global talent. We’re going to keep challenging the norms of how companies operate and continue building tools that shape the future of work.” — Alex Bouaziz, founder and CEO of Deel

Deel earned $425MThe remote hiring company is working to help other teams hire overseas as remote work becomes the new normal. The company’s latest funding round brings its total valuation to $5.5 billion. Deel plans to expand its team and is currently hiring for 70 roles. [Built In SF]

Skyflow brought in $45M. Skyflow’s latest Series B round will be used to help other companies ship products faster. The company works to simplify how companies access, manage and govern data. It has raised over $70 million in the past 18 months. [Business Wire]

23andMe is acquiring Lemonaid Health. The $400 million deal, announced last Friday, signals the DNA sequencing company’s intention to move beyond its well-known DNA testing kits and into the telehealth space. As it stands, the Sunnyvale company has developed one of the largest DNA databases in the world through its sale of 12 million of its testing kits. The acquisition is expected to be finalized by the end of the year. [Built In SF]

These startups are making strides in the Bay AreaFive early-stage SF-based companies are gaining momentum to innovate new solutions for a variety of tech industries. Featured this quarter are SaaS software Ditto, foodtech startup Forward Kitchens, software Hello Divorce, healthtech company MiSalud and real-time accent translator Sanas. [Built In SF]

In more VC funding news: Platform Scribe, which is used by tech giants Tesla and Facebook, raised $30 million to continue its expansion of the documenting process for companies. [Built In SF]

The first platform built for cloud-native modernization vFunction raised $26 million in a Series A round and announced the vFunction Application Transformation Engine. [GlobeNewswire]

Concept Art House raised $25 million in fresh funding and will continue working to provide musicians and gaming companies with NFT options to sell to fans. [Built In SF]

Spot AI, which has built a software that can read footage, announced it pulled in $22 million to build its technology and customer base. [TechCrunch]

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