Funding Watch: The Localogy Global Investment Roundup

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


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 we examine in an upcoming white paper. And while following the sector on an ongoing basis, we’re struck by the level of venture funding it’s receiving. So for the latest Funding Watch post, we’re rounding recent SMB-Saas funding inflows.

Here’s the latest roundup of the top 10 funding rounds (listed in order of investment dollars). We’ll be back next week with 10 more, as the year is off to a big start in SMB SaaS investment:



Barcelona-based Glovo joins the Spanish unicorn club with a €150 million (~$166 million) Series E led by Abu Dhabi state investment company, Mubadala. The on-demand delivery app platform works with restaurants, grocery stores and pharmacies in Europe, Latin America and Africa to deliver goods to consumers.

Belgium-based software provider Odoo has raised $90 million from equity investor Summit Partners. The company provides an enterprise management suite of apps for SMBs that includes ERP, accounting, CRM, project management, marketing, human resources, website, eCommerce and POS.

Malaysia-based used car marketplace Carsome has closed a $50 million Series C round from MUFG Innovation Partners, Daiwa PI Partners, Endeavor Catalyst and Ondine Capital. The company works with dealerships to source inventory from individuals that want to sell their cars in an auction format.

New Orleans-based construction management software provider Levelset has closed $30 million in funding from Horizons Ventures. The company’s software manages accounting, cash flow and payments for construction companies and SMB contractors.

Austin-based travel startup The Guild has raised a $25 million Series B round from Maveron, Convivialite, Mark VC and Nicol Investment Company. Sort of a We-Work for SMB and startup travel, the company caters to business travelers with short-term accommodations in converted apartments.

Insurance-tech company Huckleberry has raised an $18 million series A round from Tribe Capital, Amaranthine, Crosslink Capital and Uncork Capital. The company offers an online portal to customize and purchase SMB business insurance that’s atomized into areas of need like workers’ comp and general liability.

Bangalore-based food-tech startup HungerBox has raised a $12 million seed round from Paytm, NPTK, Sabre Partners and Neoplux. The company manages in-house cafeterias for employees, including food ordering, POS technology and accounting.

LA-based Pepper has closed $5.6 million in seed funding from Upfront Ventures, Lerer Hippeau and Manta Ray Ventures. The company provides software to consumer-facing SMBs and startups to track spending (marketing, salaries, rent, etc.) ROI and operational insights.

Fort-Lauderdale-based SMB fintech player Xendoo closed a $3.5 million seed-plus round led by Malachi, Rise of the Rest Seed Fund, DeepWork Capital, and Jason Calacanis’ LAUNCH Syndicate. The company provides online accounting and bookkeeping software, along with the data and insights that flow from those functions and access to CPAs.

Challenger bank Rebank has raised $2.8 million in seed funding from ADV, Oriza Ventures and angel investors, including Jude Gomila. The digital business banking platform runs on top of existing business bank accounts with a consolidated view of activity to save time for SMBs.

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