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Capital Gains: Spotify, Duolingo, Blue Apron and More Funding News

Ad tech is struggling, but money is still pretty easy to come by.

Todd Bernard

Music streaming, food delivery, ad tech, cyber security and a whole mess of other kinds of tech startups raised significant funding this week. Here’s what went down:

  • On the heels of the Apple Music launch at WWDC, Spotify announced it had raised $526 million in a round featuring a wide array of investors, including a Nordic telco and American investors like Goldman Sachs, TCV, GSV Capital and Halcyon Asset Management (Wall Street Journal).
  • Duolingo, which makes a language learning service that uses AI technology, raised $45 million in a round led by Google Capital, with investment from existing investors Kleiner Perkins Caufield & Byers, Union Square Ventures and NEA. The round puts Duolingo’s value at $470 million (Forbes).
  • Bolt Threads, which makes special clothing fabrics, came out of stealth with a $32 million Series B funding round co-led by Foundation Capital and Formation 8 (Wall Street Journal).
  • Predictive marketing tech maker Lattice Engines raised $28 million in a Series D funding round led by River Cities Capital Funds and Piper Jaffray Merchant Banking, with participation from Blue Cloud Ventures, Sequoia Capital and New Enterprise Associates (Silicon Valley Business Journal).
  • The cyber security firm Menlo Security came out of stealth with $25 million of Series B funding from Sutter Hill Ventures, General Catalyst, Engineering Capital and Osage University Partners (eWeek).
  • The call center software startup Talkdesk raised $15 million in Series A funding from Storm Ventures and Draper Fisher Jurvetson (TechCrunch).
  • Creatively titled document management service eFileCabinet raised $14 million in a round led by Allegis Capital and Signal Peak Ventures (Accounting Today).
  • Tough as it is for ad tech companies to raise money right now, TripleLift raised a $10.5 million Series B led by Edison Partners, with participation from True Ventures, iNovia Capital, Laconia Capital and NextView Ventures (Forbes).
  • BloomThat, which is basically Uber but for flowers, raised a $5.5 million Series A funding round led by Forerunner Ventures (Wall Street Journal).
  • Internet radio service 8tracks locked up $2.5 million in debt financing and added 2.5 million songs to its music catalog (Billboard).
  • HomeSuite, which is kind of like Airbnb for short-term corporate housing, netted $2.3 million from investors including Battery Ventures, Foundation Capital and Bessemer Venture Partners (TechCrunch).

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