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Here’s what you need to know today in startup and venture news, updated by the SA¹ú¼Ê´«Ã½ News staff throughout the day to keep you in the know.

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Crypto platform FalconX hits $3.75B valuation

Digital currency trading platform hit a valuation of $3.75 billion for its latest funding round — a more than fivefold increase in five months, according to a .

The San Mateo, California-based startup, founded in 2018, reportedly raised raised $210 million in a fresh funding round. Lead investors for the financing were , , and .

FreshBooks lands $130M

Toronto-based , a provider of cloud-based accounting software, raised $130 million in fresh funding at a valuation of over $1 billion.

The funding consisted of just over $80 million in Series E equity financing and $50 million in debt financing, with longtime backer as lead investor. Previously, FreshBooks had raised around $75 million in known funding, per SA¹ú¼Ê´«Ã½ data.

Funding rounds

Butternut Box snags $55M for dog food: London-based , a direct-to-consumer provider of gourmet dog foods, raised £40 million ($55 million). led the financing for the 5-year-old company.

—Ìý Joanna Glasner

LaunchDarkly hits $3B valuation: Oakland, California-based closed a $200 million Series D led by with new investors and , as well as existing investors , , , and participating.

The company’s platform is used by developers to release new software after testing, and now has a post-money valuation of $3 billion. Founded in 2014, LaunchDarkly has raised a total of $330 million, according to SA¹ú¼Ê´«Ã½ data.

— Chris Metinko

OwnBackup closes Series E at $3.35B valuation: New Jersey-based raised a $240 million Series E co-led by and . The round also included a secondary investment in the company by and . Existing investors , Ìý1, and also participated.

The round raises the company’s valuation to $3.35 billion — $2 billion more than when it raised its Series D in January.

Founded in 2015, the cloud data protection platform, has now raised nearly $500 million to date.

— Chris Metinko

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