The Capitalization Report v210518 BETA

KEYWORDS: MasterClass, Carrick Capital Partners, Tiger Global, Spectrum Equity, Bessemer Venture Partners, Y Combinator, RHC 21, Red Hook Capital, DailyPay, Goldbelly, Houm

EDITOR: JD M. and Will E.

THE CAPITALIZATION REPORT v210517

DEALS THAT RECENTLY CLOSED

• MasterClass, a San Francisco, CA-based streaming platform for anyone to learn from the best professionals in their specific field, raised $225M in Series F funding (DISCOLSURE: Red Hook Capital Fund is a co-investor in the deal) PRESS RELEASE URL: https://www.prnewswire.com/news-releases/masterclass-raises-225m-to-further-accelerate-growth-301290700.html
• DailyPay, a New York City-based provider of on-demand pay solutions for enterprises, raised $175 million in Series D funding. Carrick Capital Partners led the round. (DISCLOSURE: A Red Hook Capital Fund is a co-investor in this deal). PRESS RELEASE URL: https://www.prnewswire.com/news-releases/dailypay-raises-500-million-of-capital-powering-its-mission-to-transform-the-financial-system-301293703.html
• Goldbelly, a New York City?-based maker of a food e-commerce platform, raised $100 million in Series C funding. Spectrum Equity led the round and was joined by investors including Intel Capital. (DISCLOSURE: A Red Hook Capital Fund has co-invested in the D round with Spectrum Equity)
• Coiled, a New York-based machine-learning and A.I. data company, raised $21 million in funding. Bessemer Venture Partners led the round. (DISCLOSURE: Red Hook Capital has co-invested in deals with Bessemer Venture Partners )
• Houm, a Chile-based all-in-one platform for homeowners to rent and sell their properties, raised $8 million in seed funding. Investors included Y Combinator, Goodwater Ventures, OneVC, Vast VC, Liquid2, and Myelin. (DISCLOSURE: Red Hook Capital has co-invest in deal with Y Combinator)
• Platinum Equity agreed to acquire Game Taco, a Sausalito, Calif.-based skill-based mobile gaming platform. Game Taco will also acquire WorldWinner, a skill-game company, from GSN Games, which is owned by Sony Pictures Entertainment. Financial terms weren’t disclosed. (DISCLOSURE: Red Hook Capital has advised Platinum Equity on other mergers and place bids on Platinum Equity portfolio companies in the past).
• Ankorstore, a Paris-based curated marketplace for independent brands and retailers, raised $100 million in series B funding. Tiger Global and Bain Capital Ventures led the round and were joined by investors including Index Ventures, Global Founders Capital, Alven, and Aglaé. (DISCLOSURE: Red Hook Capital has co-invest in deal with Tiger Global)

TALKING VALUATIONS

• MasterClass is raising $225 million in a new round of funding that it will use to launch a new enterprise business and expand internationally.
• It more than triples the start-up’s valuation to $2.75 billion, according to sources.
• The Series F was led by Fidelity, with participation from Baillie Gifford, Eldridge, IVP and NEA.

Online learning platform MasterClass has been valued at $2.75 billion in a new round of funding. That’s more than triple its valuation from 3q2020, according to Pitchbook.

MasterClass, the streaming platform that makes it possible for anyone to learn from the best, today announced that it has raised $225M in Series F funding, led by Fidelity Management & Research Company and with participation from new investors including Baillie Gifford, Balyasny Asset Management and Eldridge together with existing investors IVP, Javelin, NEA and Owl Ventures. Disclosure: This report is a portfolio company of Red Hook Capital that co-invested in the deal through a SPV in this round).

MasterClass relies on a subscription model for revenue. An annual subscription costs $180 and allows users unlimited access. For EBITDA companies, the number of subscribers could influence the valuation or a multiple of EBITDA.

A member of the The Capitalization Report would be happy to discuss in details valuation of this company with the requirement that they are an accredited investor with proof of funds (can use our PROOF program) or an owner in a company with EBITDA greater than $3 million.

CEO & GENERAL PARTNERS CLOSING DEALS

David Rogier is profiled today for raising $225 million in a new round of funding that it will use to launch a new enterprise business and expand internationally

David Rogier is the founder and CEO of MasterClass, the streaming platform where anyone can learn from the world’s best across a wide range of subjects. As a kid, Rogier loved learning but often struggled in school. In 2015, he created MasterClass to reinvent the traditional model and provide life-long learning opportunities for everyone.

MasterClass has since transformed the online learning category providing intimate access to over 90 of the world’s best practitioners.

In 2020, David Rogier was named one of the most influential leaders in media and entertainment on Fortune’s “40 under 40” list and as one of Variety’s Hollywood New Leaders.

RECENT DEALS THAT CLOSED OF INTEREST

Healogics, a Jacksonville, Fla.-based provider of wound care, raised $240 million. Clayton Dubilier & Rice, Partners Group, and Northwestern Mutual invested $75 million. Marathon Asset Management invested some $165 million  (DISCLOSURE: A member of Red Hook Capital S.E.A. was a former board member of Northwestern Mutual).Merge, a San Francisco and New York City-based business-to-business API company, raised $4.5 million in seed funding. NEA led the round. (DISCLOSURE: A Red Hook Capital Fund has invested in NEA Fund).

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• Lieef, a Los Angeles, CA-based startup investment firm focused on sustainability, closed its seed funding round of undisclosed amount
• Alice, a Los Angeles, CA-based mobile Decentralized Finance (DeFi) application, raised $2m in seed funding
• ArmorCode, a Palo Alto, Calif.-based startup delivering application security at the speed of DevOps, secured $3m in seed financing 
• Forager, a Portland, ME – based company focused on connecting local farmers with grocers to bring consumers healthy, locally sourced food, raised $4M in funding
• DeepScribe, a San Francisco, CA-based provider of an ambient AI medical scribe, raised $5.2M in seed funding 
• Vella Bioscience, Inc., a Los Angeles, CA-based femtech company, closed a $7m seed II funding round
• Upsie, a St. Paul, Minn.-based consumer-centric platform for purchasing product warranties, raised $18.2m in Series A funding 
• Optimal Dynamics, a NYC-based startup aiming to build the decision layer of logistics and supply chain management, raised a $18.4m Series A funding 
• Waybridge, a NYC-based supply chain platform for raw materials, raised $30m in Series B funding 
• DrFirst, a Rockville, Md.-based health technology company, raised $50m in equity funding 
• Interline Therapeutics, a San Francisco, CA-based drug discovery company, raised $92M in funding 
• Axtria, a Berkey Heights, NJ-based provider of cloud software and data analytics software for life sciences businesses to bring therapeutics to market faster, received a $150m growth investment from Bain Capital Tech Opportunities 
• Cue Health Inc., a San Diego, CA-based health technology company, closed a $235m financing round 
• Rarebreed Veterinary Partners, a Portland, Maine-based technology-enabled veterinary services platform, closed a financing round of undisclosed amount
• Cisco (Nasdaq: CSCO) is to acquire Kenna Security, a Santa Clara, CA-based provider of a risk-based vulnerability management platform.
• Paypal (NASDAQ: PYPL) is to acquire Happy Returns, a Santa Monica, CA-based tech returns company.

Contact member of JD Morris team to co-invest in deals like DailyPay and MasterClass with key funds like Tiger Global, Fidelity’s Private Equity fund, or other big name tier 1 VCs. Contact via LinkedIn contact Jack D or Charlotte F (URL: https://www.linkedin.com/in/sellyourcompany/ ) or Sarah via email Sarah@RHC21.Fund anytime.