What was already one of the Bay Area's biggest Series A rounds this year got even bigger this week.
CoinList announced Tuesday it had raised $100 million in new funding in a round that valued it at $1.55 billion.
The announcement came as something of a surprise, because the San Francisco company had disclosed in a regulatory filing in August that it had raised $50 million in its latest round. Based on that disclosure, PitchBook Data estimated the startup's backers had valued it at $950 million.
But PitchBook's calculation was made on incomplete information, Graham Jenkin, CoinList's CEO, told the Business Journal. The company, legally known as Amalgamated Token Services Inc., raised its Series A in two tranches; the $50 million figure was just its haul from the first part, he said.
"We just completed the second tranche and raised $100M in total across the two tranches," said Jenkin, whose company offers a cryptocurrency exchange.
Based on the information it had at the time about the $50 million round, PitchBook estimated that CoinList's valuation had jumped 876% since its previous round. That was more than good enough for CoinList to make PitchBook's third quarter list of the Bay Area's hottest companies.
But it turns out that CoinList's valuation actually increased by 1,467%, thanks to its bigger-than-expected funding round. That kind of increase almost certainly makes it a candidate to be the hottest Bay Area startup of the fourth quarter.
Here's more on that and other Series A rounds from the region from the past week:
Amalgamated Token Services Inc (dba CoinList), San Francisco, $100 million: Accomplice VC and Agman Partners led the round for this operator of a cryptocurrency exchange, giving it a valuation of $1.5 billion. Alphemy Capital, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, HashKey Capital, executives from GoldenTree Asset Management, Rising Tide Capital, Imperii Partners and Metaplanet also participated.
Zolve Innovations Inc., San Francisco, $40 million: DST Global led the round for this financial services company that offers U.S. bank accounts and credit cards to immigrants, giving it a valuation of $210 million. Tiger Global, Alkeon Capital, Lightspeed Venture Partners and Accel also invested.
vFunction Inc., Palo Alto, $26 million: Zeev Ventures and Hewlett Packard Enterprise led the funding of this provider of a service that helps companies migrate their apps to the cloud. Engineering Capital, Primera Capital and Shasta Ventures also participated.
ShelfFlip Inc. (dba UserGems), San Francisco, $20 million: Craft Ventures led the round for this provider of sales software. Battery Ventures, Tiger Global and Uncork Capital also participated.
Shiru Inc., Emeryville, $17 million: S2G Ventures led the round for this developer of plant-based proteins that can be used in meat, dairy and egg alternatives. Lux Capital, CPT Capital, Y Combinator and Emles Venture Partners also invested.
Deep North Inc., Redwood City, $16.7 million: Celesta Capital and Yobi Partners co-led the Series A-1 round for this provider of a video analysis service. Conviction Investment Partners also participated.
AirGarage Inc., San Francisco, $12.5 million: Andreessen Horowitz led the round for this provider of parking garage management software. Floodgate, Founders Fund and Abstract Ventures also participated.
Viakoo Inc., Mountain View, $10 million: Shasta Ventures led the round for the provider of cybersecurity software for internet of things devices. Stanley Black & Decker, PivotNorth Capital and Blue Fog Capital joined the round.
Influ2 Inc., Sunnyvale, $8 million: Rally Ventures led the round for this provider of an individualized digital marketing service.
