SA国际传媒

Here’s what you need to know today in startup and venture news, updated by the SA国际传媒 News staff throughout the day to keep you in the know.

Descartes Underwriting raises $120M

, a French insurtech startup, raised $120 million in a Series B funding round led by . The capital comes 18 months after the company鈥檚 $18.5 million Series A funding.

The 3-year-old company offers data-driven tools that help insurers assess and make financial decisions around climate risk. Descartes plans to use the new financing to scale its technology, expand into new lines of business, and target larger deals from global customers.

—聽 Joanna Glasner

TCV launches $460M startup fund

Venture and growth investor announced it is publicly launching a new fund called Velocity, a $460 million vehicle geared toward expansion-stage deals. The fund already has made some portfolio investments, including , a provider of machine-learning applications for medicine development, and , an international shipping carrier built for e-commerce DTC brands and marketplaces.

—聽 Joanna Glasner

Funding rounds

Pennylane picks up $56M: Paris-based , developer of a financial management platform marketed to small and medium-sized businesses, raised 聽50 million euros ($56 million) in a Series B funding round backed by , and .

—聽 Joanna Glasner

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