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Capital Gains: Oscar Health Insurance and Instacart Both Raise Major Rounds

Plus, UPS makes its own delivery bet.

Todd Bernard

It’s getting harder for startups to raise money. In fact, some companies can only get financing by slashing their valuations. Woof. Here are some startups that appear to have had some success and raised money this past week:

  • Last September, insurance startup Oscar Health raised money at a $1.75 billion valuation. Now, the company has reportedly landed $400 million in a round led by Fidelity Investments that sets the company’s paper value at $2.7 billion (Bloomberg Business).
  • Struggling $10 billion grocery chain Whole Foods is leading an investment in the $2 billion grocery delivery startup Instacart, and the two are inking an exclusive five-year delivery partnership.
  • Data-focused marketing software startup Qubit, founded by four ex-Googlers, raised $40 million in a Series C round led by Goldman Sachs, with additional cash coming from Sapphire Ventures, Salesforce Ventures and Accel (TechCrunch).
  • ThousandEyes, which monitors the performance of cloud-based software, landed $35 million in a new round led by Tenaya Capital, with participation from GV (née Google Ventures), Salesforce Ventures, Sequoia Capital and Sutter Hill Ventures (Fortune).
  • Namely, which makes cloud-based HR software, raised $30 million in a Series C round led by Sequoia Capital, with other money coming from Matrix Partners, True Ventures and Greenspring Associates (Fortune).
  • UPS led a $28 million funding round for the same-day delivery startup Deliv. Other investors included Upfront Ventures, RPM Ventures, General Growth Properties and Simon Property Group (Wall Street Journal).
  • Marketing and customer loyalty software maker AppCard, founded by ICQ co-founder Yair Goldfinger, raised $20 million from PLDT Capital, Alexander Rittweger, Founders Fund, Innovation Endeavors and Yahoo co-founder Jerry Yang (
  • New York-based MakeSpace, a company that brings small storage units to customers, then keeps them in a warehouse, raised $17.5 million in a new round co-led by Harmony Venture Partners and Upfront Ventures (TechCrunch).
  • Masterclass, a video network that includes interactive courses taught by celebrities and athletes (Christina Aguilera, Kevin Spacey, etc.), raised $15 million in a Series B funding round led by NEA, with investment also coming from celebrities including Usher and Robert Downey, Jr. (Wall Street Journal).

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