Hey! This is Matt Heimer, filling in for Jessica Matthews, who is not being replaced this morning.
Startup stories make founders legendary and lionized—the ambitious, inspired geniuses who turn good ideas into great companies. But when they first learned about startups, whether here in the Term Sheet or elsewhere, those founders surrounded themselves with an invaluable supporting cast: the board of directors.
Big boards can elevate beginners to juggernauts; The weak look the other way and miss the warning signs because disability leads to a dumpster fire. And as enterprises grow larger, their organizations expand their reach and responsibilities, their boards become more important, providing strategic advice and reality checks to executives.
this week, Chance They’re recognizing these best supporting actors and actresses in corporate drama with a new list: The Fortune Modern Board 25, recognizing the most innovative boards of directors of S&P 500 companies.
The instruction behind Fortune Modern Board 25 is simple: it matters who is in the room. As my colleague Aman Kidwai writes in an article accompanying the list, directors (and the leaders they advise) are being asked to take on more issues and represent more stakeholders than ever before. “Boards are taking a more active role in corporate affairs,” Amann explains, “and they weigh in more often on issues like diversity, employment and environmental impact.”
The boards that score the highest are the ones that bring the widest volume to those conversations. Diversity matters, in the broadest sense—gender and nationality, as well as age and expertise. So does independence: Your business-school buddies and retirees from your own C-suite may be amazing people, the thinking goes, but they lack the objectivity to offer the best advice. (Amman and Chance Details editor Scott DeCarlo has teamed up with corporate-management software company Diligence to develop The Modern Board Standard; You can read more about our method here.)
Our No. 1 finisher, Microsoft, is a case study in such scope. Its 12 board members include eight who identify as women or people of color. But it also includes executives who hold or have held C-suite posts in finance and pharma, as well as other tech giants — people whose perspectives have not been shaped by spending their careers on Windows, Halo, and Azure. .
We hope this list will give you an idea of what to look for in an advisory team, whether you’re an investor, founder, both, or both. Let us know what you think!
Matt Heimer
Senior Features Editor
Offer to agree Time sheet Newspaper over here.
Jackson Fordyce reviews today’s newsletter deals.
Venture offers
– CoinDCXA Mumbai-based cryptocurrency exchange has raised over $135 million in Series D funding. Panther And Steed view They led the round and participated including investors Kingsway, DraperDragon, Republic, Relative, B Capital Group, Coinbase, PolychainAnd Cadenza.
– Fortress information securityIn Orlando, Fla. , a supply chain cybersecurity provider, has raised $125 million in funding from a private equity fund. Goldman Sachs Asset Management.
– SEONThe London-based online fraud detection and prevention company has raised $94 million in Series B funding. IVP and investors including to be created, Portfolioand other angels.
– Home city ticketingColumbus, Ohio-based digital ticketing and event software for schools, districts, conferences and associations, has raised $75 million in funding. Nexa Equity.
– don’t learn.aiA San Francisco-based developer of a machine learning platform that creates digital twins of patients in clinical trials has raised $50 million in Series B funding. Insight Partners and investors including Radical Ventures, 8 VC, DCVC, DCVC bioAnd Mubadala Capital Ventures.
– GRUBBRRBoca Raton in Fla. Based self-ordering systems and kiosk software providers have raised $35 million in funding. Yes.
– DisplayThe San Francisco and Tel Aviv-based virtual experience platform for SaaS sales teams has raised $34 million in Series B funding. Tiger Global Management and investors including Bessemer Venture Partners, Amity Ventures, GTM Fund, Operator in commonAnd Stepping Stone.
– Air companyThe New York-based maker of carbon-negative alcohol and consumer products has raised $30 million in Series A-led funding. Carbon direct capital management and investors including Toyota Ventures, JetBlue Technology VenturesAnd Parley for the oceans.
– Shock energyThe Newport Beach, Calif.-based energy drink company has raised $29 million, including Series B funding from investors. Good Doctor Pepper, 7-Venturea professional baseball player Aaron Judgeretired football player Michael Strahana professional golfer Lexi Thompsonand other angels.
– One more gameThe Seattle-based game studio has raised $22 million in funding led by Series A Lightspeed Venture Partners and investors including Griffin Game Partners Andreessen Horowitz, Animal capital, Clio CapitalAnd so on.
– Let’s goSan Francisco-based data processing and visualization platform secures $16.5 million in funding Signal fire, Khosla Ventures, Day one venture, Decacorn Capital, Y Combiner, Samsung next, Harvard gift, West Coast efforts, Creativity CottageAnd so on.
– Soter analysisThe London-based global ergonomic technology company has raised $12 million in Series A-led funding. AV8 Venture and investors including OTB Ventures, btov Industrial Technologies Fund, Verve VenturesAnd Beginner wise men.
– GlassesA London-based 3D data platform has raised $5.5 million in seed funding. Front line venture And Matrix partners They led the round and participated including investors basis and other angels.
– TrustLos Angeles-based Brands Network has raised $5 million in funding from investors including Sapphire Sports and former Venmo COO Michael Vaughan.
– VingA Los Angeles-based bitcoin dialer and caller ID company has raised $5 million in funding from investors including March Capital Partners, New venture capital, Alpha EdisonAnd Omidyar network.
– Practicea Zurich-based product review platform that connects buyers to buyers, has raised $4 million in seed funding. Vertex Ventures US and investors including Sonae Investment Management and the Berkeley SkyDeck Fund.
– EncouragementStockholm-based backend development engine for distributed systems has raised $3 million in seed funding Crane Venture Partners and investors including Capital Canal, Essence Venture Capital, The third type of venture capitalAnd so on.
Personal equity
– ArchiMed Group obtained Born treatmentMiddleton, Wis. Based on medical devices to diagnose and treat diseases affecting the brain and nervous system, approximately $1.2 billion.
– Veteran PickleA Swander Pace Capital The portfolio company acquired the assets of the pickle Farm Ridge Foods, a South Island, NY-based caterer. Financial terms were not disclosed.
other
– Cryoport obtained Cell and shared bio servicesA Clermont-Ferrand, France-based bioservices company providing biorepository, kitting and logistics services to the life sciences industry. Financial terms were not disclosed.
– Robin Hood Agreed to get it. Ziggle, a London-based crypto and payments company. Financial terms were not disclosed.
IPOS
– Blockchain.comThe Miami-based crypto startup will go public sometime this year, according to Bloomberg. Lightspeed Venture Partners And Bailey Gifford Return the company.
Funds + grants
– Mainsail PartnersThe Austin and San Francisco-based growth equity firm has raised $915 million for its sixth fund focused on founder-led software companies.
– Conductive VenturesA Palo Alto-based venture capital firm focused on software, hardware, technology-enabled services and blockchain has raised $200 million for its third round of funding.
People
– Ara partnersBoston, Dublin and Houston-based private equity firm introduced Katie Bottecher He was hired as a principal Ken Nguyen As a senior associate. He was together before Altos partners.
– Redpoint VenturesWoodside, Calif. Based on a venture capital firm, he was hired Mena Clark As a principal. She was with him before. Open venture.
