Venture capital investment cooled down as the snow started to fall in December, but one outlier brought the month's funding total to astronomical heights.
Just a handful of D.C.-area startups raised a combined $131 million in capital last month, beating out November's $95 million and October’s $50 million haul.
Making up most of the total was CuriosityStream, which landed a whopping $114 million round as it pushes to compete with streaming services like Netflix and Hulu.
Meanwhile, a host of other venture capital groups exited their investments following acquisitions of Interfolio, Lore Systems and others.
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Here are the startups and tech firms that made big money moves in December:
Funding
Silver Spring-based documentary streaming service CuriosityStream raised $114 million in a recent funding round. The service, launched by Discovery Communications founder John Hendricks in 2015, offers subscriptions starting at $3 per month to watch 2K+ shows and documentaries, including some original programming.
D.C.-based WhyHotel, which runs pop-up hotels in newly built apartment buildings, closed on a $10 million funding round. It was led by Highland Capital Partners, with participation from D.C.-based Camber Creek and Revolution’s Rise of the Rest Seed Fund, among others. The company said it plans to launch three pop-up hotels in Virginia and will continue expanding nationwide in 2019.
Arlington-based ExecVision, a sales analytics platform, announced a $5.4 million growth investment led by Princeton, N.J.-based Edison Partners. ExecVision uses AI to analyze sales reps’ call recordings, then provides insights, flags coachable moments, interprets emotions and compares outcomes. The funding deal follows three years of doubling revenue growth, according to the company. The startup previously raised $2.2 million in a 2017 seed round.
Vienna-based ClearForce, a cybersecurity startup, raised $1.2 million in an equity funding round disclosed in SEC filings. The company tracks and analyzes employee stress levels to determine which are more likely to commit a workplace crime or resign. As for previous funding, in June it announced a strategic investment for an undisclosed amount from London's Centricus Partners.
Arlington-based Acendre, which makes cloud-based talent management software for regulated industries, announced a majority growth investment from Strattam Capital. Over 200 organizations worldwide, including nearly 100 federal agencies, use the company's platform, and Acendre says the deal, terms of which were not disclosed, will help it expand that growth in the U.S. and Australia.
D.C. entrepreneur Shizu Okusa is raising money and launching sales nationally online for her second health-focused brand, Apothekary. The Jrink founder's new business opened its first store in June, selling herbal supplements, spices and teas to replace quick-fix pharmaceuticals. Apothekary is nearing the close of a $700,000 seed funding round and planning a larger Series A raise in mid-2019.
Acquisitions
District-based Interfolio, which makes software for college faculty members, is set to be acquired by Insight Venture Partners. Sources told the WBJ that the price tag was over $110 million. Interfolio raised $15 million across three previous funding rounds, most recently a $13 million Series A round in 2016. Investors include Quad Partners, Middleland Capital, Blue Venture Investors, Berg Capital Group and GP Ventures +.
McLean, Va.-based IT services firm Ntiva has acquired the commercial business of Silver Spring, Md.-based Lore Systems for undisclosed terms. The deal increases Ntiva’s client base to over 500 organizations, according to the companies, and will add expertise in strategic IT consulting.
D.C.-based investment firm Carlyle Group has become the majority owner of Houston-based Accelerate Learning, a K-12 STEM education company, following an investment along with Quad Partners for undisclosed terms. Accelerate Learning's products, including its flagship STEMscopes program, are used by more than 4 million students and 200,000 teachers in the U.S.
