Picsart Got $130M, Cribl Raised $200M, and More Bay Area Tech News

Tech companies have been busy in the Bay Area with plenty of fresh venture funding to back their bright ideas. Check out what’s coming to the San Francisco tech scene. This is the Built In SF weekly refresh.

Written by Ashley Bowden
Published on Aug. 31, 2021
Picsart Got $130M, Cribl Raised $200M, and More Bay Area Tech News
photo: shutterstock

Tech companies in the Bay Area are wrapping up the summer with plenty of fresh venture funding to back their bright ideas. Check out what’s coming to the San Francisco tech scene. This is the Built In SF weekly refresh.

Cribl pulled in $200MThe company provides enterprises with a data processing solution that allows them to sort through and route their data as it flows through traditional IT systems. After its Series C round led by Greylock and Redpoint Ventures, Cribl is putting funding toward product R&D as well as expanding its team across finance, operations, marketing, engineering and more. [Built In SF]

Picsart raised $130M. With its creative platform, Picsart provides easy-to-use editing tools for image and video-based content. Following its Series C funding round led by SoftBank Vision Fund 2, the company has officially reached unicorn valuation. It’s planning to invest in building out its AI-based platform’s tech and tools, exploring acquisitions and expanding its team. [Business Wire]

SF Tech Quote of the Week

“When it comes to hiring platforms, local businesses and deskless workers have largely been overlooked. We set out to give local businesses the tools they need to hire hourly workers faster, and we are humbled by the momentum and results our customers have seen.” —Desmond Lim, Workstream CEO and co-founder

Workstream secured $48MProviding recruitment teams with a solution for directly connecting with potential hires via text, Workstream is fueling further growth of its platform. Over the past year, the company recorded 10x overall growth. It’s looking to increase its headcount across sales, marketing and engineering in its offices across the globe after its Series B round led by BOND and Coatue. [Built In SF]

Freshworks filed for its IPOLast week, the San Mateo-headquartered SaaS giant filed for its initial public offering, and reported a surge of almost 53 percent in revenue. Terms of the offering, which will be led by Morgan Stanley, have not yet been set, but reports indicate that the company will be aiming for a valuation of up to $10 billion. [Reuters]

Jane Technologies got $100MOperating an e-commerce marketplace platform for the cannabis industry, the company closed on its Series C round led by Honor Ventures. Now with $130 million in total funding, Jane Technologies is investing in growing its digital presence, enhancing its software solutions, introducing new tech and building out its team. [FinSMEs]

Headspace and Ginger join forcesThe companies just announced a merger that will combine their respective meditation and healthcare solutions. Conjoined, the new entity will be named Headspace Health and will offer a comprehensive platform for digital mental health and well-being. The company is aiming to serve 100 million customers across over 190 countries. [Built In SF]

Visa purchased a $150K NFTAs the financial world continues to evolve in the age of cryptocurrency and non-fungible tokens, Visa is getting onboard the NFT bandwagon with its recent purchase of CryptoPunk #7610 for 49.50 ethereum. The financial services giant is betting that NFTs will prove to be an important part of the increasingly digitized economy. [Built In SF]

In more Bay Area VC funding news: With its residential real estate platform that manages tasks from matching roommates to service requests, Bungalow raised a $75 million Series C led by Deer Park Road to expand its operations and business reach. [FinSMEs]

AllStripes pulled in $50 million in Series C funding led by Lux Capital for its medical data sharing platform. It plans to launch new research programs, expand its global operations, enhance its data automation and improve its UX. [MobiHealthNews]

With a fresh investment in its software, NoRedInk grabbed a $50 million Series B led by Susquehanna Growth Equity for its digital curriculum that combines adaptive learning with Mad Libs-style writing prompts. [TechCrunch]

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