Swift Secured $100M, GrubMarket’s Acquisition, and More SF Tech News

Catch up on the latest developments from the San Francisco tech sector.

Written by Ashley Bowden
Published on Oct. 24, 2022
Swift Secured $100M, GrubMarket’s Acquisition, and More SF Tech News
Members of the Swift Navigation team working and chatting in an orange office
Photo: Swift Navigation / Twitter

The Bay Area saw no shortage of innovation last week, with a nine-digit funding round and new joint initiatives, including an acquisition. From food tech to healthcare, check out what these West Coast companies have been working on. This is the Built In SF Weekly Refresh. 

Swift Navigation pulled in $100M. The Series D funding for the cloud-based positioning tech company was led by SK Inc. and Potentum Partners. Swift develops positioning solutions for automotive, mobile and industrial machine control applications. The company powers several large auto and commercial vehicle fleets with its global network that services the U.S., Europe, Japan, South Korea and Australia. [Globe Newswire]

Calm expanded its offerings. Known for providing sleep and meditation tools, the mindfulness platform is launching a new product targeting the mental health market. Calm will release tools for mental health programs and medication tracking on a new app in Q1 of 2023. [Fast Company]

SF Tech Quote of the Week

“Consolidation is hindering the trust and loyalty built between trading partners over many decades, as it forces decisions to a more abstract, corporate level. We help to restore that trust, and we help ensure the vibrancy of the supply chain by helping trading partners work better together … from ensuring that everything that is due to each partner is paid and collected.” — Andrew Butt, co-founder and CEO of Enable

Enable secured $94M. Bringing rebate management into the modern age, Enable serves businesses with an automated solution built to help foster trust along their supply chains. Enable pulled in a Series C funding round led by Insight Partners to add new items to its product suite and expand its team across people, customer success, revenue and more. This latest round brings Enable’s total funding to $156 million. [Built In SF]

Cardless launched a new card alongside Simon. Credit card company Cardless and real estate invetment trust Simon joined forces to launch the Simon American Express Credit Card from Cardless. Once the card launches, members will receive up to 3 percent back on eligible purchases at Simon destinations and up to 1.5 percent back on all other purchases. [PR Newswire]

GrubMarket acquired Rainfield Marketing Group. The food tech company is building out its portfolio with the addition of Rainfeld, a Vernon-based food distribution company known for Asian produce items. The deal will allow Rainfield to leverage GrubMarket’s tech, including its WholesaleWare software suite and its Orders IO product. [Built In SF]

In other VC funding news: Healthtech company Prenuvo secured a $70 million Series A round to open five new clinics over the next year.

RisingWave Labs pulled in $36 million in Series A funding for its cloud-native, open-source streaming database that aims to democratize stream processing.

Backed by Tiger Global and Bow Capital, Ambi Robotics is deploying its solution that makes warehouse picking more efficient. The $32 million funding round will fuel hiring and product portfolio expansion.

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