MotorK drives away with $10 mln Series A

Italy-based MotorK, an provider of digital services for the European car industry, has secured $10 million in Series A funding. The lead investors were 83North and Zobito. PRESS RELEASE London, 23rd March 2017 – MotorK (https://www.motork.io), the European company driving change through technology in the automotive distribution system, has announced today a $10M Series A round led by 83North and Zobito. The news highlights a significant milestone for both MotorK, which is leasder of digital change in the automotive industry, and for Italy as the Series A round is the highest raised to date for a technology company originating in Italy. Founded in 2010, MotorK quickly became one of the most important players in the digital automotive arena and a trusted partner to more than 90% of car brands in the European marketplace. With triple-digit growth year on year, it has expanded its business from Italy to
Continue reading "MotorK drives away with $10 mln Series A"

Newly independent 83North raises $200 mln venture fund

83North, formerly called Greylock IL and an affiliate of Greylock Partners, has raised a $200 million fund to invest in all stages of consumer and enterprise technology companies led by European and Israeli entrepreneurs. The fund is 83North’s third raised in eight years, bringing total capital under management to $550 million. 83North got its start as Greylock IL, but is now an independent firm led by partners Laurel Bowden, Arnon Dinur, Erez Ofer and Yoram Snir. Press Release Today, 83North (formerly Greylock IL), announced that the firm has raised a new $200 million fund to continue to invest in all stages of consumer and enterprise technology companies led by European and Israeli entrepreneurs. With this new fund, the third raised in 8 years, 83North now has over $550 Million in capital under management. In the first two funds, 83North’s four investing partners, Laurel Bowden, Arnon Dinur, Erez Ofer and Yoram Snir, backed more than 30 companies including Actifio, AeroScout (acquired by Stanley Black & Decker), Hybris (acquired by SAP), Just Eat (LSE:JE), ScaleIO (acquired by EMC), SocialPoint, Supersonic, Telit (LON:TCM) and Zerto. Erez Ofer, Partner at 83North in Tel Aviv, said: “We believe in the hands-on, personal approach when working with entrepreneurs to realise their visions. We invest in all stages, with an emphasis on early investments where we work side by side with founding teams to build companies from the ground up. We invest in specific domains of expertise including data center and cloud technologies, software, marketplaces, consumer services and fintech.” Laurel Bowden, Partner at 83North in London, said: “With local presence in both London and Tel Aviv, we get access to some of the best talent in the world. That enables us to add value to entrepreneurs by exposing them to the best practices in each domain. Our FinTech portfolio is a good example of this strategy; we backed global companies like Ebury and Wonga in London, Payoneer in Tel Aviv, BlueVine and Marqeta in California and iZettle in Sweden.” 83North got its start as Greylock IL, an affiliate fund of Greylock Partners. Today, 83North is an independent firm investing in European and Israeli entrepreneurs around the world.
Continue reading "Newly independent 83North raises $200 mln venture fund"

Ebury gets $30mln expansion backing from Greylock and others

Ebury has received $30 million expansion capital. Greylock and other investors participated in the round. Ebury is a London-based financial services company. PRESS RELEASE Ebury, the fast-growing financial services company that helps small and mid-sized businesses trade and grow internationally, today announces that it has received £18m ($30m) of investment to accelerate its expansion. This includes an equity investment by Greylock IL, the leading VC firm that has backed companies including Just-Eat, Payoneer, iZettle and notonthehighstreet.com. Other investors also participated. Laurel Bowden, a Partner at Greylock IL, will join Ebury’s board as a non-executive director. The funding, which is composed of debt and equity, reflects Ebury’s success in meeting clients’ needs, and its fast growth and strong financial performance. It also endorses Ebury’s vision of a world where small and medium-sized companies increasingly operate across national borders to remain competitive and accelerate their growth. The investment will be used to help fund Ebury’s continued expansion, as it grows internationally and develops new products and services. Using Ebury’s integrated financial services, small and mid-sized companies can make and receive payments in foreign currencies, enjoy competitive exchange rates, use emerging-market currencies, hedge currency risk and benefit from liquidity. They can also access short-term finance, and make transactions in more than 100 currencies – quickly and easily with Ebury’s managed service. Salvador Garcia Andres, CEO and Founder of Ebury, said: “The opportunities that come from trading internationally are no longer reserved for large companies. Technology and globalisation have changed the nature of business. “However, conducting business across national boundaries also brings challenges. Ebury empowers small and mid-market firms, providing financial products and a managed service to help them make the most of international markets. We help companies go global. “Importantly, we do this at a time when banks are struggling to serve smaller and mid-market business clients. Greylock IL’s investment reflects our success in serving a fast-growing number of clients effectively, our strong performance as a business, and endorses our vision for the future.” Laurel Bowden, Partner at Greylock IL, said: “Ebury has built a brilliant business by understanding its clients’ needs, innovating and providing them with outstanding services. They also have a clear vision of the future, having seen the potential and need for small and medium-sized companies to trade internationally. We believe they have great potential to continue to grow rapidly, helping mid-sized companies to compete across national boundaries.” Ebury was founded in 2009, and used its expertise in competitive currency services as a platform to grow a broader business to help companies trade internationally. Today, it has more than 3,000 mid-market firms as clients, and employs more than 170 people. Its head office is in London, and it also has offices in Madrid and the Amsterdam. It is regulated as an Authorised Payments Institution by the UK’s Financial Conduct Authority. NOTES TO EDITORS About Greylock IL
Greylock IL is an affiliate fund of Greylock Partners with offices in London and Israel. Some of the fund’s investments include: Actifio, ScaleIO, JustEat, notonthehighstreet.com, Payoneer, Workable and Wonga. For more information visit: www.greylockil.com. About Laurel Bowden
Laurel Bowden joined Greylock IL in 2008 and is based in London. Her other investments at Greylock IL include notonthehighstreet.com, Just-Eat (LSE: JE), Workable, Hybris (acquired by SAP), and iZettle. She is also an angel investor in companies such as Fizzback (acquired by Nice Systems), Wix (Nasdaq: WIX), FreeAgent and Secret Escapes.
Laurel has over 10 years’ investment experience. She is a former GE executive and joined Greylock IL from JVP, where she was a General Partner. In this capacity, she sourced and led European investments such as Qlik (Nasdaq: QLIK) and Touch Clarity (acquired by Omniture).
Laurel holds a BS in Electrical Engineering from the University of Cape Town, and an MBA from INSEAD. About Ebury
Ebury is a London-headquartered financial services company specifically designed to empower small and medium-sized businesses that want to trade internationally.
With offices in London, Madrid and Amsterdam, Ebury is one of the UK’s fastest-growing financial services companies, employs 170 people and is regulated by the Financial Conduct Authority. For more information, visit www.ebury.com Contacts
Guy Dennis, 3 Monkeys Communications
Email: guy.dennis@3-monkeys.co.uk
Mobile: 07584 340678