From innovating foodtech to keeping people’s health in check, the Bay Area tech sector saw another week bustling with new ideas. These companies are also raking in big funding rounds, one of which launched a local company to unicorn status. This is the Built In SF weekly refresh.
Point secured $115M. Providing homeowners with access to capital to help them access home equity investments, Point announced a round of Series C funding led by WestCap. Its solution doesn’t require monthly payments on its loans and doesn’t expect repayment for three decades. The company will invest the money in scaling its product offerings and growing its presence nationally. [Built In SF]
Shopify acquired Deliverr. In a $2.1 billion transaction, small business e-commerce solution Shopify is adding fulfillment tech company Deliverr to its ranks. Shopify’s largest deal to date will enable it to build out an end-to-end fulfillment and logistics network for online merchants. It will also equip Shopify with same-day and two-day shipping capabilities. Both companies are also currently hiring additional team members across several departments. [Built In SF]
SF tech quote of the week
Fictiv raised $100M. Outfitting companies with mechanical parts, digital manufacturing company Fictiv is putting its Series E funding round toward expanding its business. Fictiv partners with parts manufacturers and digitizes companies’ order queues for new components. After a year of growth, Fictiv is furthering its recent momentum and expanding its team across dozens of roles. The funding brings its total venture capital to $192 million. [Built In SF]
Teleport got $110M. New unicorn Teleport is now valued at $1.1 billion following its Series C raise led by Bessemer Venture Partners. The company’s solution assigns identities to hardware, software and users, eliminating the need for passwords. Its new funding will go toward product development and growing its team from 200 to 300 by the year’s end. [TechCrunch]
Hello Heart pulled in $70M. With heart-based medical issues impacting millions of people across the country, Hello Heart developed a mobile blood pressure monitoring solution to help users better manage their conditions. Led by Stripes, the Series D round for the company’s AI-powered solution will help Hello Heart grow to meet increased demand. [Built In SF]
In more VC funding news: Working to craft popular foods using sustainably and ethically sourced ingredients, Oakland-based Voyage Foods secured a $36 million Series A to launch its first product, a peanut-free spread. [PR Newswire]
Allocate pulled in a $15.3 million Series A round for its digital investment platform that works to help digital investors access venture funds more efficiently. The money will help the company expand its team and launch new features. [PR Newswire]
