Kayak Competitor Becomes A "Narwhal"

|
Includes: BKNG, CBLK, CHKP, COINB, CSCO, ESTC, FEYE, MSFT, SYMC, TCEHY, TCTZF, TMICY, UPWK, WMT
by: VCDeals

Welcome to Seeking Alpha’s Venture Capital Deals of the Week. Follow this account and turn on the e-mail alert to receive VCDeals in your inbox on Saturday mornings.

Did we miss a notable deal? Let us know in the comments.

Endpoint detection: Carbon Black (NASDAQ:CBLK) competitor Tanium raised $200M at a $6.5B valuation. Wellington Management led the round with participation from Baillie Gifford & Company. Tanium has now raised over $800M with its last funding round happening less than five months ago, raising $175M at a $5B valuation.

Tanium offers single point endpoint detection and response management that operates at real-time speeds at massive scales while reducing fragmentation and complexity. Enterprise customers include Whirlpool, Go Daddy, and AutoNation. The company turned profitable by the end of last year and at the end of FY17 brought in $320M in cash and equivalents, $25M in operating cash, ARR of $230M (+80% Y/Y), and billings growth to over $270M. Net renewal rates were up over 150%.

Competitors: Other endpoint detection and response solution competition includes FireEye (NASDAQ:FEYE), Trend Micro (OTCPK:TMICY), Cisco (NASDAQ:CSCO), Symantec (NASDAQ:SYMC), Check Point (NASDAQ:CHKP),

Job recruitment: LinkedIn (NASDAQ:MSFT) competitor ZipRecruiter raised $156M in a round co-led by Wellington Management Company and IVP. The round brought total funding up to $219M.

ZipRecruiter has helped over 1.5M businesses find employees and has funneled 430M applications to hirers. The company will use the new funding to “further accelerate” its growth and projects, which include a focus on AI-backed candidate matching. ZipRecruiter currently has 200 engineers working on the AI solution.

Competitors: Other ZipRecruiter competitors include job sites like Monster and Indeed plus freelance platforms like Fiverr and Upwork.

Chinese discount chain: Tencent (OTCPK:TCEHY, OTCPK:TCTZF) participated in a $145M strategic investment in Chinese low-cost and variety store chain Miniso. Hillhouse Capital Group also pitched in and will be part of the trilateral cooperation in “big data analysis, smart outlets, intelligent retail and digital operations.”

Miniso specializes in household and consumer goods, cosmetics, stationery, toys, and kitchenware. The company will use the funding towards its goal of opening 10K stores in 100 countries with annual revenue of $14B by 2022. Miniso reported $1.74B in revenue last year and has opened over 3K stores in more than 70 countries.

Competitors: Japanese competitors Uniqlo and Muji plus discount stores Don Quijote and Daiso.

Farecasting app: Booking Holdings (NASDAQ:BKNG) Kayak’s farecasting rival Hopper raised over $100M in a Series D round led by Canadian public investment group OMERS Ventures. CEO/founder Frederic Lalonde says the valuation stands at around $1B Canadian (about $780M USD), which he jokingly calls a narwhal instead of the usual unicorn.

Hopper’s algorithms scan 10 to 15B price points a day and analyze user in-app behavior to make discount travel suggestions that might include tweaks to the dates or exact location of the flight. The company says the result is an itinerary the user didn’t know they wanted and those bookings account for 25% of all trips scheduled through the app. Hopper will use the funding towards its global expansion for more users, more data, and better recommendations.

Competitor: Other than Kayak, Hopper competes with startup FLYR, which has over $15M in funding.

In talks: Tiger Global was circling an up to $500M investment in cryptocurrency trading platform Coinbase (COINB) at an $8B valuation. Coinbase was most recently valued at $1.6B following a $100M round in August 2017. The fresh funds could be used to buy out shareholders. The platform has stocked its C-suite in the past year and could be headed towards an IPO.

Exits: Elastic (NYSE:ESTC) and Upwork (NASDAQ:UPWK) both had IPOs last week and closed their first days up 94.4% and 41%, respectively. Walmart (NYSE:WMT) acquired online plus-size fashion startup Eloquii for a rumored $100M.

Fund news: Benchmark general partners Matt Cohler and Mitch Lasky stepped back as the firm raised its ninth fund that has a $425M target. Cohler, an Uber board member, led investments in Dropbox, Instagram, and Domo. Lasky led an early investment in Snapchat. Both partners retain their Benchmark board seats.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.