Category Archives: Bessemer Venture Partners

Construction management software developer Procore raises $75 million at a $3 billion valuation

Procore Technologies, a provider of software to manage construction projects, is now worth $3 billion thanks to a new $75 million round of funding led by Tiger Global Management. The new funding shows just how completely software has eaten the world. Once considered an industry that was too analog to ever reap the benefits of technology’s management tools, software and services for the construction industry have seen some big exits and big money come in over the past three years. Unicorns abound among the companies that are […]

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Insurance startup Bright Health raises $200M at ~$950M valuation

A flurry of digital-first insurers are betting they can surpass industry incumbents with a little help from technology and a lot of help from venture capitalists. The latest to land a massive check is Bright Health, a Minneapolis-headquartered provider of affordable individual, family and Medicare Advantage healthcare plans in Alabama, Arizona, Colorado, New York City, Ohio and Tennessee. The company, founded by the former chief executive officer of UnitedHealthcare Bob Sheehy; Kyle Rolfing, the former CEO of UnitedHealth-acquired Definity Health; and Tom Valdivia, another former Definity Health executive, has brought in a $200 million […]

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What every startup founder should know about exits

Benjamin Joffe Contributor Benjamin Joffe is a partner at HAX. More posts by this contributor 70 years of VC innovation 2017 crowdfunding guide The dream of a startup founder can often be summarized by the following well-intentioned, and mostly delusional quote: “We’ll raise a few rounds and in a few years we’ll IPO on Nasdaq.” But a more likely scenario looks something like this.: You invest a few years of hard work to build something of value. One day you receive an acquisition offer out of the blue. […]

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