Friday Fundings: NS8, Histosonics, and Lilum
Online Fraud Prevention Company NS8 Wins Big
Investors just poured $123 million into Las Vegas-based online security company NS8, bringing the company’s total fundraising to almost $158 million since it was founded in 2016.
NS8 helps small and medium-sized businesses detect and prevent online fraud by studying behavioral analytics and assessing the risk level of online transactions. A few specific risks it tracks for businesses include fraudulent payments and chargebacks.
The coronavirus pandemic has driven up the popularity of ecommerce, leading to higher demand for NS8’s services. Yet, even in 2019, the company was seeing major growth with its revenue increasing by 200%. The latest funding will help NS8 grow its team of 225 employees and open more offices to keep up with the continuing demand.
HistoSonics Raises $40 Million for Targeted Therapy
HistoSonics, a healthcare startup, raised $40 million in a C-1 funding round. With the new money, the company will further develop technology that uses ultrasound imaging and sound energy to break down certain kinds of tissue. This technology, called Histotripsy, was developed at the University of Michigan and can be used in place of more invasive techniques like traditional surgery or radiation.
The company has raised $126.8 million overall from investors like Johnson & Johnson (JNJ) Innovation-JJDC Inc., Lumira Ventures, and Yonjin Ventures LLC, a new investor which led the most recent funding round.
Flying Taxi Startup Takes Off With New Funding
Lilum, a German company developing an electric passenger jet, just raised $35 million. This brings its total valuation to over $1 billion. The recent funding came from Baillie Gifford & Co, which is the second-largest investor in Tesla Inc (TSLA), after Elon Musk.
Lilum’s CFO, Christopher Delbrueck, noted , “The funds raised during this round give us the security to weather the challenging economic landscape we see around us and we’re grateful to be able to stay fully focused on our mission.” That mission, according to the company, is to build transportation available to everyone, not just wealthy customers. With the new funding, Lilum plans to grow its team of 450 people in order to achieve that goal.
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