November was one of the most active months for venture capital fundings in Minnesota this year.
Unsurprisingly, the largest raise on our list this month was Bright Health's $200 million Series C – likely the largest venture capital raise in Minnesota history. The previous holder of that record? Bright Health. Just last year, the company raised $160 million. Minneapolis-based Bright has now raised more than $440 million since it was founded in 2016.
Financial-technology startup Sezzle also closed on a large round of $100 million. This was Sezzle's second funding of the year. This spring, the company raised $8 million after revamping its business model.
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Read Minne Inno’s past monthly funding roundups here.
Bright Health
- Bright Health, an insurance startup led by a group of healthcare veterans that includes former UnitedHealthcare CEO Bob Sheehy, closed on a $200 million round of venture capital that will go toward expanding into new markets. Bright Health is now valued at approximately $950 million, according to Pitchbook. If Pitchbook’s calculations are correct, that puts Bright just $50 million away from “unicorn” status.
Sezzle
- Sezzle, a startup that makes it easier for consumers to pay for online purchases in installments closed on $100 million in financing. The Minneapolis-based company landed the capital from Stamford, Conn.-based investment firm Bastion, which provides debt capital to finance companies. Sezzle said that it would put the capital toward expansion efforts.
Dispatch
- Dispatch, which makes an app businesses use to coordinate deliveries, closed on a $7.8 million round of funding as it prepares for a hiring spree. The round of funding was led by Southlake, Texas-based investment firm Trinity Private Equity Group and comes on top of a $2.6 million round Bloomington-based Dispatch raised earlier this year.
Jump Technologies
- Jump Technologies, which makes software hospitals use to manage supplies, closed on $2 million that will go toward ramping up sales and product development. The capital comes as a follow-on investment to a $3.5 million Series B round that Jump raised last year.
NeoChord
- Medical-device company NeoChord raised $25 million in venture capital to fund further development of its technology, which treats a heart condition.
Travel Labs
- Travel Labs, a startup that aims to make it easier for corporate travelers to arrange flights and hotel stays, closed on $500,000 in funding to ramp up product and business development efforts.
