Funding Watch: The Localogy Global Investment Roundup

Things continue to heat up in SMB Saas. For those unfamiliar, this sector is represented by companies that build software tools for small businesses. It’s everything from “front of the house” marketing and customer acquisition tools, to “back of the house,” operational management (think: payroll).

This is a wide range of companies and opportunities, as shown in Localogy Insider’s daily coverage. As a byproduct of that editorial process, we’re exposed to lots of deal flow (even in the current environment). So for the latest Funding Watch post, we’re rounding up recent SMB-Saas funding inflows.

Here’s the latest roundup of the top 10-funding rounds, listed in order of investment dollars. Similar to the last few roundups, this batch continues to reflect Covid-era demand signals and shifting investor theses. This includes lots of eCommerce and remote employee management.


Cloud-based car dealership management software provider Tekion has raised $150 million in Series C funding led by the private equity investor Advent International, with participation from Index Ventures, Airbus Ventures, FM Capital and Exor. The company replaces decades-old industry-standard software for auto inventory management with a more modern object-oriented platform.

Indian eCommerce startup FreshToHome has raised $121 million in Series C funding led by Investment Corporation of Dubai with participation from Investcorp, Ascent Capital, the U.S. government’s development finance institution (DFC) and the Allana Group. The company aggregates a network of local farmers to distribute meat and produce to consumers.

Mobile device management (MDM) startup Kandji has raised $21 million in Series A funding led by Greycroft with participation from Okta Ventures B Capital Group and First Round Capital. The company helps businesses of all sizes manage devices remotely for employees that are working at home or elsewhere.

Restaurant software provider Lunchbox has raised $20 million in Series A funding from Coatue, with participation from 645 Primary Ventures and angel investors that include celebrity chef Tom Colicchio. The company’s software helps restaurants built their own online ordering systems, websites apps and on-demand fulfillment.

Email marketing startup Stensul has raised $16 million in Series B funding led by USVP, with participation from Capital One Ventures, Peak State Ventures Javelin Venture Partners, Uncork Capital,  First Round Capital, Lowercase Capital and several angels. The company develops email marketing creation software to simplify workflows for enterprise teams or SMBs.

French “bank-as-a-service” startup Wise has raised $12 million in Series A funding led by e.ventures with participation from Grishin Robotics, Base10 Partners and Techstars. The company provides software that lets businesses offer bank accounts to their customers — pursuant to full-service offerings and higher customer retention.

HR software provider Leena AI has raised $8 million in Series A funding led by Greycroft with participation from several angel investors. Previously focused on HR chatbots for internal enterprise communication, the firm has broadened its product to a more comprehensive HR policy platform for businesses of all sizes.

Indonesian logistics software provider Logisly has raised $6 million in Series A funding from Monk’s Hill Ventures. The company streamlines shipping logistics into one dashboard that unifies operations across several carriers and other entities in the value chain.

Bogota-based supply chain logistics company Tül has raised $4 million in funding, led by Vine Capital. The company serves Latin America with software that connects construction manufacturers with small contractors in need of building materials.

Salon-focused markeplaces startup ShearShare has raised a $2.3 million seed round and non-dilutive cash grant from Google for Startups Black Founders Fund. The company provides software that helps salons staff up to dynamic demand levels by tapping into an on-demand network of contract beauticians.

Bangalore-based SMB retail services provider Ware IQ has raised $1.65 million seed financing round from YC, FundersClub, Pioneer Fund, Soma Capital, Emles Venture Advisors and other angels. The company’s platform lets retail businesses manage their inventory and supply chain through a system of local warehouses.

Funding Watch is Localogy’s series that tracks funding to SMB-focused startups and tech providers. See the rest of the series here.

Stay ahead of the curve and get the latest on Local straight to your inbox.

By submitting this form, you agree to receive communications from Localogy. You can unsubscribe at any time.

Related Resources

Has Grocery Shopping Transformed Permanently?

Given that it’s Thanksgiving week here in the U.S., we decided to revisit our eCommerce analysis but with a grocery spin. How has grocery fared in the past several months? And do shifting consumer patterns represent permanent new habits?