Midwest Funding Roundup: Suma Brands Closes $150M

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release (hello@mug.news), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar. 

Funding rounds in Minnesota, Ohio, and Wisconsin lead this week’s funding report.  The companies listed include software, e-commerce, and manufacturing businesses.  Suma Brands, from Minneapolis, is buying e-commerce businesses following the large round announced last week.  Rentable and Frontdesk from Madison and Milwaukee are slightly different versions of the same type of business – focused on finding rentable spaces.  Frontdesk targets corporate clients, whereas Rentable focuses on consumers seeking rentable spaces for everyday living.  Throughout the list of deals this week, some of the businesses represent the growing awareness of lifestyle changes associated with COVID – including Better You and others.  In short, this week continues the strong trend of numerous fundings across the entire region – including companies from ten different states.