DCM Newsletter — Q2 2024
DCM Firm News
Hurst Lin ranked #32 on The Midas List 2024
DCM’s Hurst Lin was recognized for his 9th year on the Forbes Midas list. Produced by Forbes and TrueBridge Capital Partners, The Midas List is a definitive ranking of the top 100 tech investors from around the world.
US
Brigit Hit $100M in Revenue to Better Wage Access
Cash advance and credit-building startup Brigit revealed that it had hit over $100 million in revenue and reached profitability last year, highlighting the demand for earned-wage access products. DCM led Brigit’s Seed round in 2018.
Revel Systems Acquired by Shift4
Payment Processor Shift4 has acquired cloud-based POS system provider Revel Systems. The $250 million acquisition was announced in Q2 of this year. DCM led Revel Systems’ Series A in 2011.
Stride Health and DoorDash Partnered to Pilot Benefits Savings Program for Pennsylvania Workers
DoorDash announced it will partner with Stride Health, a benefits platform for independent contractors, to pilot a portable benefits savings program in Pennsylvania to help workers with expenses like health insurance and emergency savings. Stride Health already helps DoorDash workers to find health insurance through national and statewide marketplaces. DCM participated in Stride Health’s Seed round in 2014.
Pawp Partnered with Walmart to Add Pet Telehealth Benefit to Walmart+
Walmart has tapped omnichannel pet care platform Pawp to introduce a new telehealth benefit for Walmart’s pet-owning members. Starting later in 2024, members of the Walmart+ paid membership offering will have 24/7 virtual access to Pawp’s staff of veterinary professionals. DCM participated in Pawp’s Seed round in 2019.
Picsart Launched AI-enabled ‘Smart Background’ Editing
Image editor Picsart announced “Smart Background,” a new tool that automatically creates an AI-generated environment based on the subject. The tool is Piscart’s first to focus specifically on product photography and is the most recent of many AI-powered features Picsart launched last year. DCM co-led PicsArt’s Series B round alongside Siguler Guff & Company in 2016.
Japan
Eversteel Cofounders Recognized on Forbes’ 30 Under 30 List
Cofounded in 2021 by Keijiro Tajima and Makoto Saeki, Eversteel is developing AI-driven software and hardware to help electric furnaces select scrap steel for melting more efficiently and safely. Eversteel raised $1.3 million in a seed round from DCM in 2023.
Newmo Announced Driver Recruitment Efforts for Fall Ride-Sharing Launch
Japanese ride-sharing startup Newmo announced that it had begun recruiting ride-sharing drivers. Newmo aims to launch its ride-sharing business in Osaka this fall and expand nationwide by the end of March 2026. DCM participated in Newmo’s Seed round in 2024.
Global
Flyvbird Moved Ahead on Partnership with Moove
Travel planning company Moove announced a partnership with German-based air service provider Flyvbird. Flyvbird will integrate Moove’s Saas-B2B marketplace visualization tool to make its offering — using AI to offer connections based on client requests — more tangible. DCM participated in Moove’s Series A round in 2021.
UniUni Raised $70M Series C to Expand Delivery Coverage Across the U.S. and North America
UniUni, the leading tech-enabled logistics company shaking up the last-mile delivery landscape for e-commerce, raised $70M in Series C to develop its proprietary tech stack that powers its logistics platform and grow its network of sorting centers across the U.S. and North America. DCM led UniUni’s Series C round.
