Bubble Raises $100M Series A

Daily Crunch: July 27, 2021

A daily summary of TechCrunch’s most significant and impactful stories can be delivered directly to your inbox each day at 3 p.m. PDT. You can subscribe to this service here.

Greetings, and welcome to today’s Daily Crunch for July 27, 2021. This day is noteworthy for several reasons.

The U.S. women’s national soccer team has advanced to the Olympic quarter finals, and recognition is given to Carli Lloyd of Gotham FC. Furthermore, Danny Crichton has released a compelling EC-1 report focusing on RapidSOS.

RapidSOS and Disaster Tech

Danny Crichton has a history of in-depth reporting on disaster technology. This sector is experiencing growth, largely due to the effects of a changing global climate.

Now, let’s turn our attention to the latest developments in the technology world.

— Alex

TechCrunch's Leading Three Insights

Recent shifts are reshaping the landscape of educational technology. Following regulatory adjustments in China that affected edtech, on-demand services, and music streaming, a re-evaluation of investment strategies is underway.

Edtech's Evolving Focus

Natasha Mascarenhas explored the edtech market, questioning investors about their future plans. The prevailing view suggests that China's dominance as the central hub for edtech innovation may be waning.

A more geographically diverse set of edtech centers is anticipated to emerge globally. This transition signifies a fundamental change in the industry's power dynamics.

Growth in Africa's Startup Scene

TechCrunch’s ongoing analysis of Q2 venture capital trends highlights the increasing prominence of the African startup market. This region is garnering significant attention from both investors and the media.

Notable successful exits have contributed to this growing interest. However, despite the rapid increase in capital flowing into African startups, certain investment gaps remain.

It remains to be seen whether investors will capitalize on these opportunities. The potential for further growth and innovation is substantial.

The Continued Rise of No-Code Platforms

No-code development continues to generate considerable enthusiasm within the tech community. Expressing a dissenting opinion on the merits of no-code often sparks passionate debate online.

This widespread support is mirrored by strong investor interest. Bubble, a leading no-code platform, recently secured $100 million in funding.

This investment will facilitate the expansion of Bubble’s capabilities, enabling users to construct contemporary web applications through an intuitive drag-and-drop interface. The platform seamlessly integrates data sources and other software components.

Startups and Venture Capital Updates

Let's begin today’s overview of the startup landscape with a discussion regarding equity. Typically, investors receive preferred shares when providing capital to a startup, granting them certain rights and privileges. Founders and employees generally receive common stock, which carries fewer advantages.

However, Pillar VC, a Boston-based venture capital firm, distinguishes itself by acquiring common stock in its portfolio companies. Jamie Goldstein, one of Pillar VC’s investors, recently shared insights from this practice in a TechCrunch essay, offering valuable perspectives for those interested.

Before delving into funding rounds, an opinion piece by Cary Breese, CEO and co-founder of NowRx, published on TechCrunch, examines the current state of the delivery market. This is particularly relevant considering the substantial investment flowing into instant grocery startups.

Recent Funding Rounds and Notable Companies

Wiliot Secures $200M for Sensor Technology: The company has received funding from SoftBank Vision Fund 2 to develop its “ultra thin and light” processor, powered by ambient energy, into a commercially available service. This innovative technology has significant potential.
Fireblocks Achieves Unicorn Status: With a new $310 million funding round, Fireblocks is now valued at $2.2 billion. The company provides a comprehensive platform for financial institutions to manage digital assets, including storage, transfer, and issuance.
1Password Raises Additional $100M: Accel has further invested in 1Password, a password management solution for individuals and businesses. Valued at $2 billion, the company has surpassed $120 million in Annual Recurring Revenue (ARR).
Oova Aims to Improve Fertility Tracking: The startup has secured $1.2 million to assist individuals in identifying their optimal fertility window and provide data for healthcare providers to confirm ovulation. This offers a valuable resource for those navigating fertility challenges.

The increasing investment in companies like Fireblocks demonstrates continued investor confidence in the cryptocurrency sector, despite market volatility.

1Password’s strong ARR and valuation suggest a mature business, potentially nearing the stage for an Initial Public Offering (IPO).

For individuals and couples facing fertility issues, Oova’s new kit and services represent a positive development in accessible reproductive health technology.

The RapidSOS EC-1

It is estimated that approximately 240 million 911 calls are made by Americans annually.

While dispatching emergency responders to the correct location appears simple, each call is directed through one of thousands of call centers, formally known as public safety answering points (PSAPs).

“Each 911 center operates distinctly, reflecting the diverse nature of the communities they serve,” explained Karin Marquez, Senior Director of Public Safety at RapidSOS.

A PSAP serving New York City is a sizable, 450,000-square-foot, blast-resistant structure situated on nine acres.

However, Marquez also pointed out that “agencies in rural areas may have a single operator on duty around the clock, handling as few as three calls per day.”

Established eight years ago, RapidSOS currently manages over 150 million emergency requests annually, supporting roughly 5,000 PSAPs.

The company’s technology facilitates the integration of requests originating from mobile phones, traditional landlines, and IoT devices.

“Their technology is likely already integrated into the smartphone you use and many of the connected devices in your home,” notes Managing Editor Danny Crichton in a four-part series detailing the company’s history.

This series is broken down as follows:

Part 1: Details the company’s initial stages and its transition from a consumer application focus to govtech and integrated services for technology and device companies.
Part 2: Explores the reasons behind RapidSOS’s strategic pivot and the success of its current business model.
Part 3: Highlights how RapidSOS forged numerous corporate and individual partnerships to modernize 911 services.
Part 4: Considers the future of 911 and RapidSOS, particularly in the context of limited infrastructure investment.

Danny, who first reported on the company six years ago, states, “I have rarely encountered a company with as many established partnerships as RapidSOS.”

“They’ve secured dozens of partnerships and business development agreements, including collaborations with some of the most prominent names in the technology sector.”

The question is, how did they achieve this? This is a story about building a highly effective business development engine.

(Extra Crunch is a membership program designed to help founders and startup teams succeed. Sign-ups are available here.)

Big Tech Inc. – Recent Developments

A comprehensive review of recent earnings reports from major technology companies is forthcoming from TechCrunch. However, a quick overview of noteworthy news concerning prominent players in the tech industry is presented below.

Key Updates

Several significant updates have been announced across various platforms. These developments highlight ongoing trends in e-commerce, social media, and content discovery.

NFT Sales via Shopify: Merchants utilizing the Shopify platform are now enabled to directly offer NFTs through their online stores. This integration is anticipated to facilitate wider acceptance of non-fungible tokens.
Extended Reels Video Length on Instagram: Instagram, in its effort to compete with TikTok, has increased the maximum video length for Reels to 60 seconds. The platform is striving to replicate TikTok’s success.
Google TV App Redesign: A redesign of the Google TV mobile application has been implemented, introducing new services and personalized recommendations. Google TV represents the evolved interface for Chromecast devices.
Monetization Options for Pinterest Creators: Pinterest has launched new features designed to allow creators to generate revenue from their pins. This move aligns with the platform’s continued focus on shoppable content.

The introduction of Rotten Tomatoes scores within the Google TV app provides users with additional resources for informed viewing decisions. Pinterest’s new creator tools aim to sustain the company’s positive financial performance.