Adore Beauty

Former Smart50 winner Cover Genius reaches $2 billion+ valuation

Insurtech Cover Genius, previously ranked first on the Smart50 list, has secured $143 million from Vista Credit Partners at a valuation above $2 billion, with funds earmarked for AI development and acquisitions.

Justin Ryan's Glow Capital cleans up with new investment

Glow Capital Partners, co-founded by Justin Ryan and Kate Morris, is acquiring a majority holding in facilities firm Menzies — its fifth investment and first since Morris's departure; she stays on as a shareholder.

From 0 to 4.5 billion: how the Startmate pay-it-forward mentorship model built a startup powerhouse

Startmate reflects on a decade of backing founders, profiling breakout alumni across its cohorts and describing how its mentors reinvest in newer startups, alongside its fund model and returns.

After Tbh Skincare and Boost Lab merger, York St Brands raises $2 million to launch Bouf

York Street Brands raised $2 million from iPartners and took a $4 million NAB trade facility to launch its third brand Bouf, having formed through the 2023 merger of tbh Skincare and Boost Lab.

Also SmartCompany

Private equity firm Quadrant takes a $50-100 million slice of startup veteran LegalVision

Sydney PE firm Quadrant's new $660m growth fund backs LegalVision for an undisclosed stake; the article also recaps Quadrant's earlier deals and exits, including Canva, Modibodi and Canberra Data Centres.

Smart50 alumni Cashrewards acquires Little Birdie

Cashrewards has bought Little Birdie, the deals startup backed by Commonwealth Bank that went quiet in May; the piece also recalls Cashrewards' 2017 Smart50 nod, 2020 ASX float, and later takeover by 1835i Ventures.

Also Startup Daily·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup Daily

Beauty subscription pioneer Bellabox to cease operations amid rising costs

Bellabox, an early Australian beauty subscription service, is shutting down this month after rising costs; the piece recalls its 2013 $1.3 million raise and Allure Media's 2014 purchase of half the company.

Startmate’s top 20 most valuable investments

A profile of Startmate ranking the twenty most valuable companies it has backed, noting their valuations, past raises and founders, plus Bugcrowd's newly announced purchase of Informer and its climate focus.

Canva has a new $500 million shareholder – a Sydney private equity firm that previously made a fortune from pet food

Sydney PE firm Quadrant bought a $500 million Canva stake from existing holders including Blackbird, at a US$25 billion valuation — the first deal for Quadrant's ninth fund.

Chipper Cash Becomes A Unicorn & Mr Yum raises US$65m Series A led by Tiger Global

TEN13 newsletter reporting Chipper Cash's US$150m unicorn round, Mr Yum's Tiger Global-led Series A, and new investments in Payhippo, Preezie, Pushas and Heaps Normal, plus portfolio updates.

Also Skalata Ventures·Skalata Ventures·Archangel Ventures portfolio·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Beef Central / Grain Central·Forbes Australia·SmartCompany·LaunchVic

Kate Morris’ Glow Capital buys fashion-focused uniform maker Cargo Crew

Investment house Glow Capital, started by Kate Morris and Justin Ryan, takes an undisclosed-value 51% stake in uniform maker Cargo Crew, its first deal, backed by a $55 million fund.

‘Game-changer’: Aussie HR unicorn takes on Seek with latest AI play

Employment Hero has launched Swag, an AI-powered hiring superapp for small businesses offering job drafting, candidate matching and employee benefits, putting it in competition with its own backer SEEK.

Australian scalp care brand Straand secures $2 million pre-seed investment from Unilever Ventures

Australian microbiome-focused haircare brand Straand has secured a $2 million pre-seed investment from Unilever Ventures to fund expansion into the US, UK, Europe and China, with advisory support from Lempriere Wells.

Also SmartCompany·Forbes Australia

Business digitisation and consulting startup FORMM raises $600,000 pre-Seed

Digital consulting startup FORMM has raised a $600,000 pre-seed round from individual investors who also take on leadership, board and advisory roles, to help mid-sized businesses digitise.

Also SmartCompany

Our investment in Zitcha

OIF Ventures announces it led Zitcha's $4.8 million seed round, backing the retail media buying platform started by Troy and Jack, whose customers include Adore Beauty and The Warehouse Group.

Start-up that helps retailers sell advertising space secures $5m

Retail adtech firm Zitcha has banked roughly $5 million in seed funding led by OIF Ventures at a $14.8 million valuation, serving retailers including Adore Beauty and The Warehouse Group.

Also OIF Ventures portfolio·Startup Daily·SmartCompany·Startup Daily·SmartCompany

HIVERY, mx51, Refundid, and more: Local startups raise over $100 million in recent weeks despite market fearmongering

A roundup of Australian startups that raised funds in recent weeks: mx51, Refundid, Storipress, HIVERY, InternMatch, upcover, Pearler and Loopit together secured over $100 million despite a cooling venture market.

Also Cut Through Venture

Ignition Lane's Weekly Wrap: Super-fast unicorn, VC funding boom, put another founder on a Barbie

Ignition Lane's weekly roundup: Zip's deal for Sezzle, Zeller's unicorn raise, several Australian funding rounds, Startmate backing Provvy, a space manufacturing grant, NZVC's first close, and tech's response to Russia.

Who Gives A Crap brings on first investors with $41.5m raise

Toilet paper social enterprise Who Gives A Crap has taken its first outside capital, a $41.5 million round led by Verlinvest with Grok Ventures, Airtree, Giant Leap and prominent founders and athletes involved.

Also privateequitywire.co.uk·SmartCompany·SmartCompany·onimpact.com.au